How does a not-for-profit firm differ from all the other

Reference no: EM131965082

Corporations and Society

The purpose of this problem set is to encourage you to reflect upon our discussions regarding corporations in American society, their function, legal status, and role, and by extension, the role of professionals within them.

These questions are broad, and you are encouraged to explore the ideas raised by them. There are not "correct" answers per se, just more or less thoughtful (and informed) answers. Each answer should be 3-4 pages (double spaced, 1 inch margins) in length.

Choose any 5 of the following 7 questions:

1. We often hear talk of corporations as "persons" under the law. What does this mean, practically, and how has it evolved over time from Chief Justice John Marshall, writing in the Dartmouth College v Woodwardopinion, to Associate Justice Anthony Kennedy? What kind of person is the corporation, and why is this important?

Specifically, how has the personhood of corporations been changed by the recent Supreme Court decisions of Citizens United and Hobby Lobby? Please cite from these three opinions to make your points. Lastly, do you believe corporations should be granted the properties they now possess due to Citizens United and Hobby Lobby?

2. From the standpoint of society, why might it make sense to allow farmers to organize into a growers' cooperative (eg, Ocean Spray, Land O' Lakes, Organic Valley) even though - arguably - such as organization constitutes a contract "in restraint of trade," which would be a violation of the Sherman Antitrust Act? Use examples and concepts from economics to support your argument.

3. From a business/tax and risk/return standpoint, what are the major differences between a for-profit "corporation" and a "partnership"? What sorts of issues do these differences raise for society? With these ideas in mind, please explain why society would require that public auditing firms to be partnerships (or more recently LLP's), and why managemeent consulting firms also tend to be LLP's though not required by law.

4. What is the relationship between the "business judgment rule" and "fiduciary duty," and please explain how - taken together - they provide a description of the legal relationship between executives and owners of a corporation. Can the law really create a role - the fiduciary - in which the executive acts as a "reasonably prudent owner" would act? Use examples to illustrate your points.

5. A) In terms of Ownership/Governance, how does a Not-For-Profit firm differ from all the other firms we have discussed in LBS? Please be specific and reasonably complete. Then consider, what sorts of businesses are best performed by not-for-profits, as opposed to for-profit firms? Why is that so? Give examples to illustrate your ideas.

B) Do you believe the U S Supreme Court should have made a distinction between for-profit and not-for-profit firms in Citizens United and/orHobby Lobby? Why or why not?

6. How does a Benefit or B-Corporation differ from a standard for-profit C-Corporation? Why might a business choose to operate as a B instead of a C. Give an example of a business that might benefit from being a B-Corp, and explain explicitly and convincingly why the B charter might be better.

7. Apply to concepts of the course, and specifically our discussions about the constitution, criminal justice, corporations and government, to the following article:

Article : How the American government slowly became a business By Jon Michaels.

Do you agree with Professor Michaels' analysis? Use course concepts to support your position.

Reference no: EM131965082

Questions Cloud

Operate without traditional budgets : Do you think that an organization could operate without traditional budgets? If so, what might be used instead? And which references you based your answer on?

Substitute for bank borrowing in fueling growth : How do you see the role of corporate bonds as a substitute for bank borrowing in fueling growth? and what references you based your answer on?

Design an australian population calculator program : You will design and implement an Australian population (AP) calculator program for client that allows users to input state/territory name and the population.

Write a PLpgSQL function that takes a staffs id : PostgreSQL Database System Assignment - Project 2 PLpgSQL. Please write a PLpgSQL function Q2(staff_id integer) that takes a staff's id as parameter

How does a not-for-profit firm differ from all the other : In terms of Ownership/Governance, how does a Not-For-Profit firm differ from all the other firms we have discussed in LBS?

Substitute for bank borrowing in fueling growth : How do you see the role of corporate bonds as a substitute for bank borrowing in fueling growth? and what references you based your answer on?

What is the net present value of project : The tax rate is 35%. If the firm requires a 10% rate of return, what is the Net Present Value of this project?

Are there advantages that they might have that do not exist : Are there advantages that they might have that do not exist in the US? What other issues might a foreign company have to face with regard to infomation systems?

Crm system developed and operational : List all the steps that you as the project manager and your team will need to complete to get the CRM system developed and operational.

User Account

All Pages