Sunday, October 6, 2019
Government regulations in business Essay Example | Topics and Well Written Essays - 250 words
Government regulations in business - Essay Example This paper illustrates that the government has the mandate to overlook all business activities, and also have the power to control certain businesses. The government has the responsibility to impose various regulations to ascertain that the customers are not exploited, and there is a fair competition among the firms in any given industry. Government regulations in marketing are crucial towards customer protection as well as maintain fairness in competition. The number of government regulations in marketing is sufficient to ensure that there is a reasonable business environment. The government imposes laws on marketing regarding product safety and warranties. Such laws ensure that the advertisers are limited to advertising only true information. Warranties ensure that the manufacturer produces high-quality goods. The limits obtruded on freedom of speech are beneficial to controlling what one organization says about the other and hence fairness is maintained in the market. Government r egulations on validation of advertising claims ensure that the customers are only fed with true information. Therefore, it is evident that government regulation on marketing activities plays three main roles. It ensures that producers of the advertised good or service produce goods of similar quality to what they claim while advertising. It regulates the relationship between competitors. They ensure that the customers receive the best services or goods and are not misguided by the advertisement.