Government, Regulation Business Ethics - 2112 Words

Government, Regulation amp; Business Ethics The issue of business relations with government has increasingly become a key issue of business ethics. Some of the many questions raised are * Is it acceptable for corporations to use their considerable power tp shape government policy? * Is the government jeopardizing its role in protecting the public interest when politicians sit on the board of corporations? The government has a crucial role to play in establishing the ‘rules of the game’ by which we judge business ethics. When we talk about the government, we know that the government is involved in issuing laws related to business practices. Business ethics tend to begin where the law ends. This means that the governments†¦show more content†¦The government enjoys considerable authority and power since it can define industry rules and exercise legislative power. Corporations, on the other hand, might enjoy economic advantages since they have the recourse to potential sources of finance for investment that the government may be unwilling to generate through taxation. The figure shows that govet is in a bipolar situation. Firstly, the government is in a mutually dependent relation with society: govt receives consent from society and acts upon it to provide a regulatory environment protecting society’s interests. But, the government also has a relation with business where both partners are mutually dependent on each other for certain things: govt is expected to make a profitable and stable economic environment for business; business is expected to provide taxes, jobs amp; economic development in return. Business obviously has a significant influence in the implementation and direction of govt policies. The ethical considerations are – legitimacy amp; accountability. To what degree is business influence acceptable? Since the govt acts as a representative of the society’s interests, the public has a right ot be informed abt the govt’s decisions and be able to determine whether it is acting in its interests or not. The mai n concerns for business ethics are where business has influence on government. Direct –Show MoreRelatedGovernment, Regulation Business Ethics2121 Words   |  9 PagesGovernment, Regulation amp; Business Ethics The issue of business relations with government has increasingly become a key issue of business ethics. Some of the many questions raised are * Is it acceptable for corporations to use their considerable power tp shape government policy? * Is the government jeopardizing its role in protecting the public interest when politicians sit on the board of corporations? The government has a crucial role to play in establishing the ‘rules of the game’ byRead MoreEssay on Government Regulations: Accounting1676 Words   |  7 Pagesknow accounting. It’s the language of practical business life.† This statement emphasizes that accounting has become the center of the business world. With the world now being focused around businesses and the idea of how to make the next dollar it’s obvious that the accounting field is rapidly becoming the most influential field in the world today. With these occurrences comes regulation, and when I say regulation I mean stiff government regulations on how financial reporting is done. There are manyRead MoreBusiness Ethics : Ethical And Ethical Issues1737 Words   |  7 PagesBusiness ethics examines ethical principles and moral or ethical problems that arise in a business environment. Business ethics often encompasses many concerns such social responsibility, sustainability, labour practi ces and environmental development. Business ethics as a concept fundamentally applies to all aspects of business conduct and is relevant to the behavior of individuals and entire organizations. 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