Business and Society



Business and Society

Q1: We often discuss the proper role of government, and whether or not it is too big or too small, or necessary or not, to ensure socially responsible behavior in general, protect consumers, create opportunities, or create a level playing field for businesses, etc.  Based upon the text, articles, and videos (and research you do), what does business need from government(s) and what does government appear to do best?

What does business need from government?

The influence of the government over businesses through regulations and public policy is of significant importance to professionals, owners and other stakeholders, concerned with their respective economic enterprises and business activities. As such these businesses require certain initiatives and measures from the government, to maintain a trusting bond and an economically vibrant society. Most essential of which are:

Government should mediate a balanced relationship between society and businesses;

Government should develop ways to redirect unintentional costs associated with product production that are unnecessarily imposed on society;

Role of Devising regulations that checks bank failure;

Stimulating job creation;

Promoting lending among FIs;

Deploy measures to promote consumer and business confidence in US's financial services and capital markets.

Promote economic growth through business oriented policy measures, coupled with economically positive and risk managed regulatory checks;

Use their power to refuse or grant permissions for varying kinds of business activities in the country.

What does government appear to do best?

Government has to be able to make policies and enforce regulations on businesses functioning in an economic system. Regulations should be considered by businesses as minimum standards that should be met by all the firms; as such it helps set parameters for a level playing field amongst competitors in any industry. Further it also helps create barriers to entry in a mature industry. These regulations thus promote businesses with competitive advantage.

An effective public policy, affects a sizeable portion of country's populace, by attaining its chartered purpose. These basic sets of actions derived from determined plans and goals. These policy initiatives should adopt civil right laws, and benefit those in need through effective economic assistance programs.

Q2: Have the changes instituted by President Obama helped solve problem of the “revolving door” between politics and business (please bring in research to support your answer)?  If not, how can government place better controls to guard against the problems that emerge from the revolving door?

Revolving door is churning in the US, frantically as ever. I believe President Obama has not been able to close this door. 'Revolving door' essentially suggest about an entangled relationship between business and government. This relationship has to be modified, as it is excessive and leads to corruption and unjust influence of corporations on public policy and regulatory measures. It compromises the government unfavorably for social safekeeping. I would like to argue that the best solution to counter this nuisance is to initiate surtax on those public officials that leave their political offices for exponentially lucrative private job offers. A heavy surtax, for example 60%, enforced on public officials, during their post government period earnings would ensure that public officials do ...