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  1. Why should firms formulate and implement strategies from an environmental perspective?
  2. If you owned a small business, would you develop a code of business conduct? If yes, what variables would you include? If not, how would you ensure that your employees were following ethical business standards?
  3. Discuss bribery. Would actions, such as politicians adding earmarks in legislation or pharmaceutical salespersons giving away drugs to physicians, constitute bribery? Identify three business activities that would constitute bribery and three actions that would not. 
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Solution Preview

Firms and environment are in a ‘give and take’ relationship. The type of strategy formulated and implemented impacts the overall performance level of a firm. If the firms take into account the environmental rules and regulations while formulating and implementing a strategy it could avoid huge losses. The strategies of the firm are susceptible to 

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