Running Head: Business Law
Rules and regulations are important in society. They are needed to make sure things go in a calm and collective manner. Without rules and regulations, society could go into chaos. There are many types of rules and regulations. Each aspect of our lives has some time of rule or regulation. It ranges from written rules for daily conduct or unwritten rules for behavior. These rules are set to make sure one that one person’s behavior does not negatively affect another person.
The law plays a very important role in the day to day operations of a business as well as a society. These laws can regulate how the daily operations are done as well as provide a guideline in what standards should be placed in the workplace. This could be applied to ethical as well as other standards of business. These rules and regulations are important because it prevents (in many cases) businesses from practicing unethical ways of business. This is important because it can hurt society. There have been cases where society has been hurt because of the practices of a business in their area. Many of these businesses make their money by providing some sort of goods or services to the community around them. If their practices affects those are tainted in any way, it affects the people who purchase their goods and services. The rules are not just to help society, but also other companies and small businesses from being hurt.
There are a set of rules and regulations that are placed to ensure that companies practice ethical methods to making money. If there were no rules, a large company (with a lot of money) could deal unethically with smaller companies and drive them out of business. It is important to note that without laws to govern the actions of people and businesses, society would not be able to function effectively, and commerce would likely collapse....
References: Melvin, S.P.(2011). The Legal Environment of business: A Managerial Approach: Theory to practice. New York, NY: McGraw-Hill/Irwin
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