In order to survive, business must meet the legal and ethical standards imposed by a changing society. Business enterprise is not an island and business decision-making must be undertaken in light of current legal and ethical demands. Such demands may take the form of globalization of the business enterprise, reactions to hostile takeovers, concerns with market concentration and efficiency, changes in legal philosophy and corporate ethics, and developments in international law and administrative regulation. By examining the philosophical, legal, social, historical, and political/economic regulatory environments, this course places business decision making in the legal and ethical perspective so critical in today’s markets.