They know the need not be enforced. Voluntary expansible acts by businesses and entire industries are recognized by all stakeholders — consumers, shareholders, employees, and the communities where the businesses operate. They know the benefits they would accrue from it.
Moreover, they also acknowledge that these acts are not forced by the government but are voluntarily performed. For instance, when regulatory policies are being formulated, the most powerful and cash-rich companies in the industry lobby hard to get the policies suited to their needs.
For example if a company develops a new medicine, a government agency requires expensive testing to determine the safety and effectiveness of the medicine before allowing it to be sold to the public. This translates into higher customer loyalty, increased investor confidence, high employee motivation, and above all an improved image of the businesses involved.
New drug and medicine must undergo extensive testing before the government allows doctors to prescribe them for their patients. Rather, they adopt fair practices because they know that it would pay off in the long run. Environment -nowadays environmental protection is a large concern in the government regulation of business.
Privacy -Sensitive information is usually collected from employees and customers hiring and business transaction and privacy laws prevent businesses from disclosing this information freely. Should the industries and businesses be regulated by government agencies or should regulation be left to themselves?
Rather, the government officials informally welcome such gestures, for they can make a quick buck out of it. Businesses or specific industries can come together to determine what is the minimum acceptable criteria in all aspects of any business activity.
More Essay Examples on Rather, the government officials informally welcome such gestures, or they can make a quick buck out of It. These laws help maintain competition among businesses. Moreover, self-regulation is more effective as it need not be enforced.
Antitrust law are enacted to help prevent companies from merging or joining together, in order to control the supply and price of a product or service. For instance, all telecoms companies can come together to decide what is the minimum level of quality they would provide the consumers.
Government regulation fails time and again due to the Ingrained corruption In the government machinery. It is voluntary in nature.
Should be able to back-up claims made In advertisement at a any time be fair to consumer and competitors. Furthermore, self regulation has a lot of benefits for the businesses. Furthermore, self regulation has a lot of benefits for the businesses. Get Full Essay Get access to this section to get all help you need with your essay and educational issues.Furthermore, self regulation has a lot of benefits for the businesses.
Voluntary expansible acts by businesses and entire industries are recognized by all stakeholders – consumers, shareholders, employees, and the communities where the businesses operate. accepted by the research community for the responsible conduct of research, any statement in this ORI Introduction to RCR that is inconsistent with Federal law or regulation or official policy or guidance is superseded thereby.
Industrial regulation is the government regulation of an entire industry. The purpose of industry regulation is for a an entity to watch an industry’s prices and products to make sure that they do not create a monopoly or take advantage of consumers.
Essay Example: Assignment Case Study Government Regulation of Tobacco Products. We Will Write A Custom Essay Sample. On Any Topic. Specifically For You. Self-regulation v/s Government regulation ; Government regulation of the Internet ; Post navigation.
Previous Post Previous. Next Post Next. Looking For an Essays? Self-regulation v/s Government regulation. To make the business processes fair, they need to be regulated - Self-regulation v/s Government regulation introduction. This ensures a level- playing field for all and promotes fair practices.
Self-regulation v/s Government regulation Essay Sample. To make the business processes fair, they need to be regulated. This ensures a level-playing field for all and promotes fair practices.Download