COMM231 Chapter Notes - Chapter 3: Playstation Network, Debt Management Plan, Tylenol (Brand)
13 Apr 2016
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Document Summary
Why is it important for businesses to assess the legal environment: reduce the likelihood and impact of mistakes that are: Costly in terms of expense of legal services and damage claims. Distracing in terms of ime and efort. Harmful in terms of relaionships and reputaion. Prevenive approach: requires thorough evaluaion of the risks associated with the business aciviies in order to minimize their impact. Reacive approach: recognizes legal problems may sill materialize, so irm needs strategy in place to deal with such developments. Legal risk: a business risk with legal implicaions. Enterprise risk assessment: in which all risks within an organizaion, including those with legal implicaions, are assessed and managed. Creaing a legal risk management plan: step 1: idenify the legal risks, step 2: evaluate the risks, step 3: devise a risk management plan, step 4: implement the plan. Idenify the legal risks: step one: idenify the legal risks.
