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Management Essay

3186 words - 13 pages

The Challenges of Globalization
1. Define globalization: Refers to the increasing movement of goods, services, and capital across national borders. Is considered a process – an ongoing series of interrelated events
2. Major drivers of globalization: Technological innovation: Easier to communicate with employees, partners, and suppliers all over the globe in real time.
Transportation systems:
Improvements enable the fast and cheap movement of goods and services from one place to another
The presence of major corporations:
Bigger, well-capitalized, firms are better equipped to conduct business across national boundaries than smaller firms
Social and political reforms:
Rise of Pacific ...view middle of the document...

How business and government interact with each other
2. Public policy and the elements of public policy: A plan of action undertaken by government officials to achieve some broad purpose affecting a substantial segment of a nation’s citizens
* Public policy inputs shape a government’s policy decisions and strategies to address problems
* Public policy goals can be broad and high-minded or narrow and self-serving
* Governments use public policy tools involving combinations of incentives and penalties to prompt citizens to act in ways that achieve policy goals
* Public policy effects are the outcomes arising from government regulation

3. Types of public policies:
A. Economic public policies
* Fiscal policy
* Refers to patterns of government taxing and spending that are intended to stimulate or support the economy
* Monetary policy
* Refers to policies that affect the supply, demand, and value of a nation’s currency
B. Social public policies: guidelines, principles, legislation and activities that affect the living conditions conducive to human welfare. 
 Important areas of social policy are wellbeing and welfare, Social Security, justice, unemployment insurance, living conditions, animal rights, pensions,health care

4. Government regulation of business and the reasons for regulation:
* Regulation
The action of government to establish rules of conduct for organizations. It is a primary way of accomplishing public policy.
* Reasons for regulation
* Market failure
* Negative externalities
* Natural monopolies
* Ethical arguments

5. Types of regulation: Economic regulation and social regulation:
Economic regulations
Aim to modify the normal operation of the free market and the forces of supply and demand
Antitrust: A special kind of economic regulation that prohibit unfair anti-competitive practices by businesses
* Social regulations
Aimed at such important social goals as protecting consumers and the environment and providing workers with safe and healthy working conditions
* Includes regulations which apply to all businesses
* Pollution laws
* Safety and health laws
* Job discrimination laws
* And others that only apply to certain businesses
* Consumer protection laws for businesses producing and selling consumer goods

6. Spending on U.S. regulatory activities: Is it worth the cost? gone up. Where would be if no spending was done
7. Of the various reasons for regulation presented in this chapter, which apply to the regulation of tobacco, and why? Ethical reasons because it kills. Social regulation to prevent advertising to children, whats in cigs. For human welfare. Economic regulations: don’t advertise to children

Managing Environmental Issues
1. Major areas of environmental protection:
Environmental Protection Agency (EPA), main agency charged with pollution control, was established in 1970
In the United States, the...

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