State Control and Public Control of Business - 2476 Words

1)Historical perspective on public control of business. 2)Constitutional framework of state control of business. What is business? †¢ The buying or selling of goods/services/activity of making money. However, the term is too vague. †¢ According to F.C Hooper: â€Å"business means a whole complex field of commerce and industry, the basic industries, processing and manufacturing industries and the network of ancillary services, distribution, banking, insurance, transport and so on, which serve and inter-penetrate the world of business as a whole† What is business environment? †¢ It can be defined as the total surrounding, which have direct or indirect bearing on the functioning of business. OR †¢ The set of external factors(social, political,†¦show more content†¦Elements Several elements are required in making the policies by the government. Many factors/inputs influence the development of public policy by the government. Government may determine its course of action on the basis of various factors such as economic and foreign policy concerns, technical information etc. All these factors can help shape what the government chooses to do and how it chooses to do it. Public policy goals can be ideal and oriented or narrow and selfserving. National values such as freedom, democracy and equal distribution of income and wealth to share in economic prosperity have led to the adoption of civil rights law and assistance programs for the weaker sections of the society. Narrow, self-serving goals are more evident when nations decide how tax legislations will allocate the burden of taxes among various interest and income groups. Public policy may vary but are very important to inquire whether it serves the citizens of the country whose welfare it intends to serve. Various mechanisms/instruments are being used by the government to realize their policies. In general these instruments are combinations of incentives and disincentives that government uses to prompt citizens , including the businesses to act in ways that achieve policy goals. Public policy actions always have results. Some are intended others are unintended. SinceShow MoreRelatedBusiness Operations: Financial Issues1854 Words   |  7 Pages Business operations: Financial issues Introduction The problem to be investigated was the outcome of the ethical dilemma that occurred within the business circle leading to the violation of financial regulations and consequently eroded the confidence of shareholders on the U.S capital market. Examples of the violation of financial regulations were Enron, WorldCom and Lehman Brothers scandals that led to the collapse of the three companies. 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