Impact of Governmental Regulation Upon Business
Not what you're looking for?
How do government regulatory agencies and laws impact business organizations?
Give example of specific governmental regulatory requirements and explain what impact they have on business organizations.
Purchase this Solution
Solution Summary
The solution describes the impact of governmental regulation upon business and provides examples.
Solution Preview
For the most part, laws and regulations made by the government help to 'level' playing fields, help to stabilize industries and the economy as a whole, and create a situation where competition is kept in check by a system of ethics, morals, and safeguards.
Governmental regulations and laws impact businesses in several ways. For one, in most cases they create additional costs for the firms involved either by mandating such courses of action that are so labor intensive so as to cause the firm to need additional employees or by creating situations where the firm is required to keep extra assets on hand.
For example, consider Sarbanes Oxley (SOx). Sarbanes Oxley is a set of federal mandates concerning financial reporting practices of publicly traded companies. SOx was the resulting legislation following the debacles at Enron and Worldcom. SOx requires several things of firms including extra reporting and internal auditing procedures, the separation of accounting and audit ...
Purchase this Solution
Free BrainMass Quizzes
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.