Identify and Briefly Explain the Various Methods a Business Facing

question 63

Essay

Identify and briefly explain the various methods a business facing potential tort liabilities should implement to effectively manage those risks.

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Definitions:

Formal Authority

Officially sanctioned power given to an individual or entity to make decisions and enforce rules.

Organizational Structure

The system that outlines how activities are directed in order to achieve the goals of an organization, including the roles, responsibilities, and hierarchy.

Legitimacy

The general perception or acceptance that an action, entity, or regime is appropriate and justified.

Negotiators

Individuals who engage in negotiation, working to reach an agreement or resolve a dispute.