Business, Government, And Society Essay

2316 words - 10 pages

The involvement of government, business and civil society institutions in the diagnosis and solution of societal problems has been in existence for ages, but the concept has gained more supports in the international development arena in recent times
The relationship between government and business is complex, with both positive and negative aspects in terms of what can be called “the public good”. This notion of “public good” changes depending on one’s ideology and this makes the appreciation of the phrase even more complex. Therefore, an accurate understanding of the relationship that exists between the three requires an examination of the three main theories of political economy – the ...view middle of the document...

S. government.
Interrelated Objectives
N&N Chocolates' main business objectives are to keep their costs low, increase sales, and maximize their profits. Society's objectives focus around survival, clean environment, access to food, health care, education, shelter, and opportunity to succeed. Lastly, government's objectives are to provide regulation to instill a fair, safe use of resources and to protect citizens against things like unethical business.
Each of the objectives is interrelated. For example, society wants food, and N&N wants society to choose their products as their food objective. The government has to ensure that N&N operates ethically to not harm the environment or the consumers. There are three different models that can explain how business, society, and government's objectives interact.
Market Capitalism
The first model is called market capitalism. The definition is based on an economy that is focused on supply and demand, where the prices of goods and services are set through an open free market system. For example, N&N would love to sell their chocolate bars for $20.00 each. Unfortunately, society's demand for chocolates is high, and consumers are not willing to pay such a high price, especially since society can eat many other options to fulfill their food objective. They could order two pizzas for $20.00 instead or purchase a competitor's chocolate bar for only $1.00. In market capitalism, the objectives for businesses are determined by society's demand, as well as government's added costs, such as taxes.
Efficient operation based on a number of assumptions
* Government interference in economic life will be held to a minimum
* Market performance is the only acceptable measure of performance
* It is the function of government not free enterprise to minister to social problems
* The primary contribution to society made by business is to create jobs and wealth through jobs
* Individuals have perfect knowledge
* Markets clear
* Individuals are rational

Dominance
Dominance is the second model that can be used to explain business, government, and society. This model is based on the idea that a few people are rich at the expense of many. It is also known as populism, where the common man views business and government as something to be protected from. Government's part in the dominance model is the idea of heavy regulation and owning big business. Business and government are ranked at the top of the pyramid, while the rest of society is beneath them.

Government Responsibility towards Business
As the business has to discharge certain responsibilities towards the government, similarly the government has to discharge several responsibilities towards the business. Government is the most powerful and sovereign authority in the country. It can do or undo anything. The government can use that power to regulate and to stimulate business.
 
In particular the responsibilities of the...

Other Papers Like Business, Government, And Society

Business Ethics Essay

452 words - 2 pages BUSINESS ETHICS * is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. * It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. * B.E. are ethics that refer to the moral rules and governing the business world. * In other words they are the moral values that guide the

Timberland’S Corporate Social Responsibility Essay

628 words - 3 pages corporate citizen. 3. What are the arguments for and against Timberland’s social responsibility initiatives? Arguments for Timberland’s social responsibility initiatives include that it balances corporate power with responsibility; discourages government regulation; promotes long-term profits for the business; and improves their stakeholder’s relationships and business reputation. Indeed, good reputation and positive brand image are important to

What Is Business

1540 words - 7 pages distributes the goods and services that create value for people in a society Factors of Production * Regardless of meaning there are four crucial ingredients or productive factors or resources of land, labor, capital and enterprise that are needed to profit from business * These four productive factors or resources of land, labor, capital and enterprise that are needed to profit from business and are limited in supply (scarcity) * A

Role And Functions Of Law Paper

957 words - 4 pages ROLE AND FUNCTIONS OF LAW PAPER Role and Functions of law paper If one wants to be successful in business and society then understanding law is important. Laws control social behavior, and social behavior helps society run more proficiently. Laws also help with ethical standards and give a person a hire expectation of

Geology Paradigms

606 words - 3 pages likely to buy from a company that supports and engages in activities to improve society.” The application of corporate social responsibility in 60s and 70s; and the civil rights movement, consumerism, and environmentalism are the best examples that changed the way society expected the business world to act. It is an asset for validation in the society, in other words a company gets a social licence. This practice has led to employment

Strategic Marketing

444 words - 2 pages Political and legal : Laws and regulations (eg . Labor standards, decrees, safety, tax rate benefits) . The action of government affects business and other organisations. Governments are continually changing the rules and the laws that affect business. Economic conditions: | Current economic conditions of the nation will have an effect on the spending patterns of citizens. Increases in interest rates and/or a high level of

Aaaa

2654 words - 11 pages information from certain sections of society (social exclusion)? • Privacy of personal information entered on a website • Sending unsolicited e-mail • Replying promptly to e-mail • Copyright • Site content and promotional offers/adverts are in keeping with the different laws in different countries • Providing text, graphics and personality in keeping with social mores of different countries. David Chaffey, E-Business & E-Commerce

Bussiness Ethics

3791 words - 16 pages “being good is good business.” Ethics in business cover almost every aspect of business for example, in finances, in handling customers, in waste disposal and also in staff recruitment. This paper will discuss why discrimination in hiring, retaining and remunerating staff is unethical in business. Discrimination in the workplace was such a serious and frequent occurrence that the government developed the affirmative action policy. Affirmative

Technological Efficiency And Free Market Economies

1012 words - 5 pages utilization of technology and other resources, which gives rise to the theory of comparative advantage. When states focus in generating goods and services in which they are proficient, they can produce these at a lesser rate as compared to other countries. Trade liberalization thus leads to improved success which can benefit the lowly and the highly placed in society; third world countries will gain more from conducting business in a free market structure

Rwanda

2244 words - 9 pages poor rains have lowered growth in agriculture. III Business Culture A. Business ethics The Rwandan society is based on kinship, with responsibility and duty among members of a clan tightly enforced. Outside of these clans, Hutu and Tutsi loyalties are also stringent. Foreign films will discover that their arrival will be welcomed from an investment point of view, but the level of trust extended to them will be very limited

Sona

1684 words - 7 pages companies. Some of these companies were specialised in dealing in a particular class of business, while others were composite companies that dealt in more than one class of business.The government of Bangladesh nationalised insurance industry in 1972 by the Bangladesh Insurance (Nationalisation) Order 1972. By virtue of this order, save and except postal life insurance and foreign life insurance companies, all 49 insurance companies and organisations

Related Essays

The Role Of Accounting To Business And Society

980 words - 4 pages The Role of Accounting to Business and Society Justin A. Case Strayer University Introduction to Accounting ACC101 Professor Jose Martinez August 27, 2013 Introduction In today’s economy Accounting plays a huge role, as it points or refers to accountability and transparency in the business environment and paints a picture of any business. Also, it enables business managers and corporate leaders to make better comprehensive decisions

The Role Of Accounting On Business And Our Society

1261 words - 6 pages The Role of Accounting on Business and Our Society Angel Ramos Professor Darlene Green-Connor ACC 100: Accounting I March 2, 2014 The Role of Accounting on Business and Our Society There are many decisions that companies make every day in order to be in business as well as to ensure it continues to stay in business. If in retail, such examples would be to extend its inventory or cut back on an item, place certain product on sale or on

Business Essay

597 words - 3 pages organisation might use or operate for future planning. Technological The various types of new technology can put impact on a competitive advantage with other organisations. Political factors These political factors are laws and regulations that are made by the government that could affect the business (legislations.) Many types of businesses and organisations can be affected by these laws. Political factors can cover a number of things

The Human Element “Ethics” In Business Research Management

3058 words - 13 pages new wealth creates incentive to cut corners to get rich. The pressure to succeed at all costs has created a ‘cheating culture’ that threatens to undermine academia as well as the social and economic fabric of society. However, good business ethics help a society as a whole, and some say that good ethics can be a source of competitive advantage for an organization. Steps can be taken to improve ethics in business research and its management at the