To what extent should government regulate business practices?© BrainMass Inc. brainmass.com December 15, 2020, 11:32 pm ad1c9bdddf
It is important for the government to take an active role in regulating business practices. Also, the government must enact laws to safeguard the interest of customers and to protect the environment from greedy and unethical corporations. These laws must be tough and strict; primarily, severe measures must be established for violations and prosecution. Consumers, as well as the environment, must be protected; however, this must be built into the social responsibility role of organizations online article, In What Ways Do Politics Shape the Regulation of Business? (n.d).
According to Newell and Glover (2003), politics shapes the regulation of business in the follow ways:
First, government business policies mandate that organizations operations shall not hurt or harm society and the environment. Businesses shall be friendly to the society and vice versa. To ensure that businesses abide by these policies, the government ...
Government should play an active role in regulating business practices. It is essential to establish stringent laws to protect businesses and consumers.