Chapter 7 shows that businesses have a relationship with governments. In today’s

Question

Chapter 7 shows that businesses have a relationship with governments. In today’s economic and political environment, both entities are joined in making or influencing political decisions and solving societal problems. Whether working for or against, should governments work with, or allow businesses to be involve in solving or finding solutions to public issues and societal challenges? With the possibility of persuasion, should there be a partnership or relationship? Do businesses create the problems that the governments are trying to fix? Are businesses involved just for profit? Should governments act alone in solving societal challenges and only focus on implementing business regulations and public policy to solve problems?

Explanation / Answer

Yes, the government should allow businesses to be involved in the problem. Solving stage because it is the businesses that drive the economy and serve the population on a much more intimate level. This level of interaction will be valuable in understanding the needs, requirement and the necessity that any action would need to consider in order for the decision to be well informed. There should be a partnership but only to a point where the power and authority don't shift from the hands of the government to a point where the businesses can drastically influence the market or their position in order to dominate it or essentially create a monopoly.

Yes, businesses create just as many problems as the government are trying to solve. This is for the reason that businesses need to operate in the environment that the entire economy depends on. Any changes that they make influences the market trends and can cause a drastic effect in any population. This rise and fall in economic prices and factors such as inflation in the market have the power to change the way a country try operates. Therefore, businesses do create problems for the government to have to deal with later.

No, businesses are not just involved for profit but also the security that their part in the partnership would provide for the market they are currently operating in.

No, the government should. Not just work alone and should include all the necessary factors at their disposal. Businesses would allow the gore to understand the perspective market which might make or break the government and the societal changes that are influenced by such actions. Only changing the policies and regulations would not prove as effective as actively participating in the economy by leveraging competition between the businesses. A government can essentially create their own business which would allow them to interact with the market for the better.

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