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Government And Society: Business Analysis

845 Words4 Pages

Businesses, government and society normally interact and influence each other’s specific goals and objectives. A group of people residing in communities that have common values and laws is society. It is usually made up of different interests, religions, attitudes, lifestyles, and cultures. On the other hand, a business consists of firms that participate in industrial, economic or consumer activities for profit or non-profit means (Crane et al., 2015, p. 427). The government is the governing body of a local community, nation or state. Business, government, and society each has its objectives, and an understanding of these objectives will help us see how the three are related and how influential ideas in the business environment shape the business-government-society …show more content…

On the other hand, society 's objectives focus on the clean environment, survival, access to health care, food, shelter, the opportunity to succeed and education. Lastly, the objectives of government are to provide regulations that will promote the fair and safe use of resources in addition to protecting citizens against unethical business practices. Each of these objectives is interrelated in the sense that, if the society wants food, a business will want the society to buy its product to meet their food objective. Similarly, the government will put regulations in place to ensure that businesses operate ethically so as not to harm the consumers and the …show more content…

Market capitalism is based on the ideas that occur because of profit incentive. The emergence of new ideas such as television, radio, and the internet have influenced the way in which business is being done. The government has a role to play in helping to establish and promote an equally competitive playing field in the capital markets. It is its responsibility to ensure that businesses are ethically and fairly operating in agreement with the relevant laws to promote society’s growth. In the United States, the government, to protect consumers from business practices that can cause harm to the society, has established the FDA and the CDC. The government laws will enable businesses to innovate new ideas to enable them to compete in the marketplace (Marcus, Kurucz & Colbert, 2010,

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