Question

-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.

-What does corporate accountability mean to you? How important is corporate political transparency?

Answer 1

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.

Regulation refers to the act of governing, directing according to the rule, or bringing under the control of law or constituted authority. Economic regulation is the regulating of business behaviors through the controlling and influencing economic or market values such as prices, entry to and exit from markets, and types of services offered . Social regulation emphasis on people addresses the needs of the people in their roles as employees, consumers, and citizens . The most important Social Regulation was The Civil Rights Act of 1964. This act created a fair and equal work environment for all races and sexes. Everyone is now seen for their qualifications and not their race or sex. As for which regulation should be eliminated, I do not think any should be eliminated. Each social regulation has made the work environment safer and fair.

What does corporate accountability mean to you? How important is corporate political transparency? Corporate accountability measures the performance of a company in the areas of social responsibility, sustainability and environmental performance. Corporate Political Transparency is very important. Consumers and stakeholders need to have access to a company’s decisions, choices, work place environment and private dealings. This provides everyone involved with the information they need to conduct business and make sound decisions regarding their involvement in the company.