Society creates and enforces laws that govern the behavior of businesses. Many of these laws are aimed at protecting citizens and consumers from potential harm. When businesses are impacted negatively, financial losses may be passed on to consumers in the form of higher prices or lower quality of goods and services. Political climates and positions can impact the type of restrictions placed upon businesses. Citizens elect politicians who represent them. Lobbyists influence politicians on behalf of businesses. - What are the expectations that society has regarding how businesses should operate? Which source(s) of law can be influences by citizens? by businesses? Should an understanding of the law and current political climate be part of every company's managerial strategy? Why or why not?