Question

Briefly explain how business and government represent a clash of ethical systems (belief systems). With which do you find yourself identifying most? Explain. With which would most business students identify? Explain. What is regulation? Why does government see a need to regulate? Differentiate between economic and social regulation. What social regulations do you think are most important, and why? What social regulations ought to be eliminated? Explain.

Answer 1

Answer: • Business and government represent a clash of ethical Systems with which find yourself identifying most and with which would most business students identify: >> Business and governments ethical belief fystems clash on a fundamental level due to a disagreement on wheather one should focus on zelf interest of the needs of the group. • Business ethics hold that one should seek personal freedom and minimize obligations that stand in the way of this · Busineff allo believes that individuale are inherently the qual and should be treated as such. Government, on other hand, emphasizes supporting the goals of group over those of a single person. · Government also believes that individuals should be treated equally.

• for the most part, I identity with business approaches to ethiss. • I feel that in order to succeed, one must make it a priority to better oneself, because for society to succeed, we all must have a desire to improve ourselves. However, this approach may encourage some opportunistic People to cut corners in the name of personal achievement which could negatively affect Society. most business Students would identify with the business ethical belief system As business students, they are taught strategies for how to win market share in various industries, so I find it hard to believe that they would agree with a code that promotes or individual bettering the group over individual firme .

Regulation: Regulation is the act of governing directing a cording to sole, or bringing under the control of law of the constituted authority. because in order Government see a need to regulate to control natural Monopolies, control negative externalities achieve social goals, and control excess profits and Competition. economic and social regulation: Differentiation between · Economic regulations are conducted through influencing market variables such as price, barriers to entry and exit, and the types of services that business are allowed to offer. Conversely, social regulation focuses on people, Connected to the organisation, such as employees and Cestomers.

Social regulations important because are the most they ensure that consumers and staff members are not being taken advantage of by corporations. • Because business top priority is offer profit maxim is ation it is vital that mechanisms are put into place to make sure that individuals are not being sacrifice in the name of market share. •Afftimative action policies in workplaces should be eliminated because one should be hired on the basis of their qualification, not on their skin color. - o