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importance of business law to business education students

In doing so, these students get a competitive edge over students who have only a vague idea of how law works. © 2020 Springer Nature Switzerland AG. Not logged in Unable to display preview. business law” (p. 9) are more important than environmental subjects, given that society has imposed constructive notice of the law onto businesspeople. Download preview PDF. Importance of business law in business school curriculum In light of the many legal aspects (not to mention banking and economic dimensions) of the financial crisis of 2008, and previous crises in recent years, the need for a greater awareness by business executives of basic aspects of business law is, or should be, apparent. Not affiliated These courses focus firstly on teaching students the substantive legal basics of law that inform every aspect and stage of industry. This process is experimental and the keywords may be updated as the learning algorithm improves. The laws also help to provide certainty and stability to the customers of the business, besides providing a means to resolve disputes and protect the public against any wrongdoings for … Students know that there's a lot more to business than buying and selling, but savvy business professionals also need a thorough understanding of the law. Business Law Business Law is an intellectually challenging study of the constantly changing legal puzzles that face businesses of all sizes and types. What is more important, business education provides real-world experience and prepares students for grown-up life and independence. Cite as. Relevance of Business Law to Accounting Students Business law education has been recognised as being of significant importance for Law school experts say it's important that all students, no matter which area of law they enjoy most, know at least these three areas of business to be strong practitioners. It is an important topic to understand because business transactions are By understanding the legal principles that determine, for example, whether a company can stop others from copying its products, whether its contracts are enforceable, and whether it can hire only male executives, business students learn how to identify and head off potential legal problems. Collins, J. W. (1977), ‘Law in the Business Curriculum,’, Freeman, Seth (2008) ‘Bridging the Gaps: How Cross-Disciplinary Training with MBAs Can Improve Transactional Education, Prepare Students for Private Practice, and Enhance University Life,’, Gabel, Joan T. A. A Reflection on Teaching Law to Business Students Vida Allen Law School, Kingston University, Kingston Hill, Kingston upon Thames, KT2 7LB Paper presented at the Society for Research into Higher Education … It teaches how to earn money in any life situation. Business law serves as a way to maintain order among businesses, brands, and companies alike. Business law courses help students develop critical thinking skills in three equally important ways. If you are working toward your MBA or other graduate business degree… Harvard Business School Professor Constance Bagley agrees that a thorough understanding of business law is not just for lawyers. Over 10 million scientific documents at your fingertips. This service is more advanced with JavaScript available, Shaping the Future of Business Education The purpose of these surveys was to gain information on students' perceptions of the adequacy of the business law curriculum at their universities. A mixed methods approach was used. The Importance of Business Law: The Basics. However, researchers over time have pointed out that there was a gap between the legal awareness and understanding expected of graduate accountants and the legal education offered at a tertiary level. For starters, let’s review what business law is. “Managers must become more astute about the legal environment around them, and be willing to challenge and work with counsel to achieve best outcomes,” she told Sean Silverstone at Harvard Business School . both the content of business law courses, and the process used to teach these classes (i.e., legal casebook with judicial opinions). The key change recommended by students is that of a shift from the traditional law approach (which focuses on the technical details of contracts and other traditional legal topics) to the legal environment approach (which places more emphasis on understanding how the legal system operates and the role of the law in business). Bagley C. E. (2006), ‘What’s Law Got to Do with It: A Systems Approach to Management,’ Harvard Business School Working Paper Number: 06–038. Business law is one of the courses that most business students have to take. Various tests detect business potential and may show the right direction. This is a preview of subscription content, 2010–2011 Undergraduate Fellows Report, ‘Business, Values and Law: Forging a New Dialogue, Berkley Center for Religion, Peace and World Affairs,’ accessed July 17, 2012 at, Atkinson, Rob (2004) ‘Connecting Business Ethics and Legal Ethics for the Common Good: Come, Let Us Reason Together,’. Australian Business Education Research Association. A business education program must provide students with information about all aspects of business. These keywords were added by machine and not by the authors. BUSINESS LAW IN BUSINESS EDUCATION 1 Joseph L. Frascona Those who have invited me to address you today have suggested that I talk Jout business law and its relationship to business education. This study attempts to determine whether the current business law curriculum offered at two New Zealand universities is adequate in terms of preparing accounting students for the wide variety of legal issues that they may be exposed to throughout their careers. Long (2008) ‘The Business Law Education of Accounting Students in the USA: The Accounting Chairperson’s Perspective,’, Mytton, Elizabeth, and Chris Gale (2012) ‘Prevailing Issues in Legal Education within Management and Business Environments,’, http://repository.berkleycenter.georgetown.edu, Palgrave Business & Management Collection. PO Box 408, Mapleton, Queensland 4560, Australia. Overall, the findings indicate that gaps currently exist between what is currently taught and what students believe ought to be taught. The importance of business law education is emphasised by the fact that there is a compulsory commercial law topic in the academic requirements for a chartered accountants' programme of study. It helps managers understand business ethics and how to run an authentic and proper business.

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