Intoduction to BGS Notes.pdf - Lesson 1 Introduction to...

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Lesson 1: Introduction to Business Government and Society Lesson Objectives: 1. Characterize business, government and society and their interrelationships. a. Business – defined as a collection of private, profit oriented organization. b. Government – Structures and processes in society that authoritatively make and apply policies and rules c. Society – Network of relationships with common traditions, values, institutions and collective activities and interest. d. Interrelationships – Government Society Business Regulations to maximize welfare Business criticisms and scandals Criteria of public policy: 1. Efficiency 2. Equity 3. Paternalism Issues: Executive compensation, abuse of corporate power, sexual harassment Broad Societal concerns: “Rights Movement” Discrimination Government Society

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