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Essay / Research Paper Abstract
This 3 page paper touches on three aspects of business: the legal environment; the laws that regulate it; and the role it plays in society. Bibliography lists 11 sources.
Page Count:
3 pages (~225 words per page)
File: D0_HVAmBuss.rtf
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Unformatted sample text from the term paper:
business: the legal environment; the laws that regulate it; and the role it plays in society. Legal Environment of Business First, its really impossible to do justice to this topic
in such a short paper; its far too broad to do more than make a few general comments. First, with regard to legality, businesses dont operate in a vacuum.
They "cannot unilaterally make decisions without taking into consideration the legal impact or ramifications of [those] actions" (Legal environment of business, 2005). In addition, business managers have to
understand "the various constraints within which the decision making process operates" if they are to be effective (Legal environment of business, 2005). Because the decisions a company makes can
have a dramatic impact on its employees, customers, stakeholders, environment and so on, business is regulated. Most businesses are regulated by local and state governments, but some answer
to the federal government as well. The huge and ever-changing mass of regulations is often cited by businessmen as the biggest obstacle they face in running a business (Popov,
2005). Some of the legal issues that business faces include decided what kind of business it is (sole proprietor ship, partnership, corporation); credit and debt issues; antitrust issues;
deceptive practices concerns; and labor-management concerns (Bixby, 1996). Major Laws Regulating Business Regulations pertaining to business have either been non-existent ("laissez-faire") in that government didnt regulate them at all; or
it stepped in to protect certain industries at their request (The role of government in the economy). But now regulation is commonplace, and "can be divided into two categories-economic
regulation and social regulation" (The role of government in the economy). "Economic regulation seeks, primarily, to control prices" (The role of government in the economy). These regulations
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