Influences: Government Policy vs Legal Regulation Difference (1 Viewer)

[popjin]

Hi,

I'm currently doing Influences on Operations Management in class and was wondering what the difference between Government Policy and Legal Regulation was. The textbook gives two really similar answers for them, and so any clarifications would be really helpful. Thanks!

 

[idkkdi]

Hi,

I'm currently doing Influences on Operations Management in class and was wondering what the difference between Government Policy and Legal Regulation was. The textbook gives two really similar answers for them, and so any clarifications would be really helpful. Thanks!

Government policy can be legal regulations, but I tend to keep the two separate with each other in order to not confuse them. Following on that statement, government policies would be policies made by the government that intends to influence business and consumer behaviour (take the definition from the textbook), rather than regulate and enforce. Such government policy includes fiscal and monetary policy.

 

[vinlatte]

Government policy can be legal regulations, but I tend to keep the two separate with each other in order to not confuse them. Following on that statement, government policies would be policies made by the government that intends to influence business and consumer behaviour (take the definition from the textbook), rather than regulate and enforce. Such government policy includes fiscal and monetary policy.

Could this be interconnected with economics as well? As a government policy can be protectionism methods that support domestic businesses. I noticed that linking economics to business can strengthen an arguement and provide more info to elaborate and support.

 

[idkkdi]

Anything and everything in business studies can be linked. As for whether it is effective, ask your teacher. I got screwed for internals by not following the teacher's advice.