importance of business law to business education students

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If you are working toward your MBA or other graduate business degree… Overall, the findings indicate that gaps currently exist between what is currently taught and what students believe ought to be taught. 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 … Business law is a great class to take for anyone. I am Business law serves as a way to maintain order among businesses, brands, and companies alike. Unable to display preview. It teaches how to earn money in any life situation. Harvard Business School Professor Constance Bagley agrees that a thorough understanding of business law is not just for lawyers. Relevance of Business Law to Accounting Students Business law education has been recognised as being of significant importance for It is an important topic to understand because business transactions are © 2020 Springer Nature Switzerland AG. 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. 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. If you’re pursuing your undergraduate degree in business or one of the many related degrees such as marketing, human resources management, public administration, accounting, or organizational management, you’ll likely be required to take a business law course at some point in your academic career, so you ought to understand the importance of business law. Business law courses help students develop critical thinking skills in three equally important ways. 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. Australian Business Education Research Association. This is a recommendation which many academics have advocated since the late 1960s but which business schools have only instituted piecemeal and what appears to be on an ad hoc and inadequate manner. A well rounded student should know something about policies and law in business when they are running a business… Various tests detect business potential and may show the right direction. Cite as. While there are many programs that allow students to specialize in business law, most of these programs target law students hoping to represent businesses or work in corporate legal departments. These courses focus firstly on teaching students the substantive legal basics of law that inform every aspect and stage of industry. Download preview PDF. This service is more advanced with JavaScript available, Shaping the Future of Business Education A mixed methods approach was used. In doing so, these students get a competitive edge over students who have only a vague idea of how law works. They protect the rights of the company, and of the people who work there, as well as help to establish a certain standard for how things should be run. The purpose of these surveys was to gain information on students' perceptions of the adequacy of the business law curriculum at their universities. Not affiliated 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 courses help students develop critical thinking skills in three equally important ways. pp 142-152 | Part of Springer Nature. 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. The Importance of Business Law: The Basics. e-mail:; Web site: 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 … 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,’. Specifically, the results reflect accounting students' belief that each of the 11 business law topics identified in the survey should be explored in greater detail. “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 . As a result, they are more valuable to and valued by their employers. 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 … One of the first things we teach first-year students in their introductory law and ethics course at Bentley University is that they will use business law throughout their careers, even if they never go to law school or interact with an actual lawyer.

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