Political - Political Institutions Chapt 7 State...

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Unformatted text preview: Political Institutions Chapt 7 State Intervention Chapter 9 K. Aswathappa The Political Environment What is Politics? Politics is the process by which groups of people make decisions Politics consists of "social relations involving authority or power and refers to the regulation of a political unit, and to the methods and tactics used to formulate and apply policy. There are basically two political philosophies that exist: democracy and totalitarianism Democracy refers to a political arrangement in which power in vested in the people Totalitarianism/Authoritarianism refers to when individual freedom is given to the power of authority Three Institutions Legislature The most powerful political institution Powers include policy-making, law-making, budget approving, executive control, etc. In terms of business, this body controls: The type of business activities Who should have them What should be the size What should happen to their earnings, etc. Three Institutions...
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This note was uploaded on 04/22/2011 for the course BBA BUS 203 taught by Professor Kakter during the Spring '11 term at BRAC University.

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Political - Political Institutions Chapt 7 State...

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