It is a well-known fact that businesses operate in different countries around the world. This creates challenges when it comes to compliance, especially with varying regulations for each country and product they sell across borders. The role of government regulation in business is to ensure that all businesses are operating within the law. The need for regulatory compliance has never been greater than now thanks largely due today’s global economy where organizations must be able not only understand but also deal by changing rules quickly or else become vulnerable targets of fraudsters.
The need for regulation can be seen in the Chicago Tylenol Murders. The tragedy began with 12 year-old Mary Kellerman who died after consuming an extra strength capsule of tylenol, which caused her death within one month and led to six more people around town dying because they also ingested capsules from bottles containing in Prosecuting attorneys argued that if this poison had not been so easy accessible than maybe none would have gone through them all unscathed As you read on below there are many ways other countries regulate products marketed throughout their confines.
The history of U.S. economic regulation has expanded greatly in the last century, with government interventions that are meant to hinder business growth and efficiency but instead have caused major drawbacks for society as whole – from environmental damage to labor abuses.
Some examples include rules on pollution levels or minimum wages; these may seem necessary when you’re talking about protecting certain aspects like air quality or worker safety respectively, however they can also hurt entrepreneurs who lack experience working within those fields because it makes their product inaccessible due out having no knowledge how else make something work besides following guidelines exactly according what’s told them by inspectors without any room left over where innovation would happen if someone was allowed some creative freedom inside an envelope.
Regulations are often designed to keep individuals and/or the environment safe. The impact, however, may be different than originally intended as regulations can sometimes prevent people from creating innovative products or services that would benefit their communities while also employing those who need jobs. We have even seen these types of discussions arise recently with regards to certain “sharing economy” companies like Uber and Airbnb where some believe we should regulate them more heavily because they don’t meet all safety standards set out by law.
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If you want the best chance of getting what your business needs from a government official, then be professional and clear. Define exactly why this request is important – don’t ask for something if it doesn’t align with their interests or priorities because that will likely lead them away from being helpful at all!
- Formerly a senior accountant with a business degree, Linda now manages to generate story ideas; planning, assigning, and editing content for our website.
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