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Wk03B_1301 Regulating (Ch.10) - ADM1301 Fall2010 Week3B...

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ADM 1301 Fall 2010 Week 3B Chapter 10: Regulating Business
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2 Chapter Outline Regulation : Market, Self, Government Scope of Government Regulation Business Involvement in Politics and  Lobbying Corporate Public Affairs Departments Corporate Agenda Impact of Decreasing Government Involvement Ethical Implications in Business–Government  Relationship Ethics in Government
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3 Spectrum of Regulation Laissez-faire regulation Corporate self-discipline Industry self-regulation Self-regulation involving stakeholders Negotiated self-regulation Mandated self-regulation Quasi-government regulation Government regulation
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4 Market Regulation  No need for government-imposed laws or regulations Corporation influenced by market forces Laissez-faire approach Government does not interfere with business Consumers can force companies to behave in  particular ways by refusing to purchase goods or  services or through boycotts
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5 Self-Regulation  Corporate self-discipline regulation mission, values statement, codes of conduct or  ethics Industry self-regulation voluntary codes Self-regulation involving stakeholders Negotiated self-regulation Mandatory self-regulation
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6 Scope of Government Regulation Government: is architect of economic growth prescribes rules businesses must follow is major purchaser of goods and services produced by businesses is major promoter and subsidizer of businesses is a supplier of debt capital to many businesses is a rescuer of failed businesses is the protector of business and producer interests is the owner of business enterprises can be a partner with business  (PPP) directly manages large areas of private business activity is protector of various interests in society against business  exploitation and redistributes resources to meet social ends
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7 Government’s Regulatory Influence on  Business Comparison of Economic and Social Regulation Economic Regulations Social Regulations Focus Market conditions; economic variables People as employees, consumers and citizens Affected Industries Selected (railroads, aeronautics, communications) Virtually all industries Examples CAB; FCC EEOC, OSHA, CPSC, EPA Current Trend From regulation to deregulation Stable
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8 Business Involvement in Politics:  Examples Financing of political parties Publicly expressed support for a candidate or  party Publicly expressed views on political issues Executives running for public office Management’s position on employee  participation
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9 Business Lobbying Business lobbying attempts to influence: Making or amending of legislation and regulations
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