In what way do managers make their own private law?
A) By advocating for judicial independence
B) By submitting to burdensome licensing requirements and filing fees
C) By retaining counsel ahead of any problems or issues
D) By entering into contracts and crafting certain governance structures

Question

Quizplus · Accepted Answer

Managers can make their own private law by entering into contracts with stakeholders and shareholders and crafting certain governance structures that dictate the rules and procedures for decision-making and dispute resolution within the organization. This allows them to create their own set of rules and regulations that govern their operations and they can enforce them as they see fit.

In What Way Do Managers Make Their Own Private Law