Government regulation vs self regulation
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Can businesses properly self-regulate in lieu of governmental regulation? As examples, consider motion picture ratings done by the MPAA and airline deregulation.
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Can businesses properly self-regulate in lieu of governmental regulation? As examples, consider motion picture ratings done by the MPAA and airline deregulation.
Businesses can properly self-regulate in lieu of governmental regulation because:
1. The business knows the areas where regulation is required.
2. Business knows the effect of regulation on its business as well as stakeholders so they are in a better position to regulate them.
3. Business is in a better position to implement self-regulation.
4. Business has its long term prospects in mind and so is a better position to do self regulation.
5. Business has social ...
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