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Busn 115 Week 1 Responses

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***GOVERNMENT INTERVENTION: Do laws and regulations always restrict or impede the efforts of business professionals, or can they actually help businesses? In addition to this, could you list some examples of laws or regulations that may have impeded business lately?

Government laws and regulations protect not only the business, but the employees and consumers as well. These laws and regulations provide many different levels of support for businesses. This support includes helping the business follow all regulations in order not to be affected by a lawsuit (due to employee discrimination, etc.) and asset protection.

Examples of laws and regulations:

Environmental Protection Agency: This agency enforces environmental laws. This agency’s laws help in protecting our environment from hazardous and non-hazardous waste.
Privacy Law: This law protects private information of employees and consumers. This includes financial information, medical information, and other sensitive information.
Employment and Labor Laws: These laws enforce laws to protect employees. These laws help to prevent harassment and discrimination as well as enforcing wage laws.

Bovee, Courtland L., Thill, J.V.; (2012). Business in Action, 6th Edition. [VitalSource Bookshelf Online]. Retreived from http://bookshelf.vitalsource.com/#/books/9781269588669.

Learn about Business Laws, Retrieved on July 5, 2016 from http://www.sba.gov/starting-business/learn-about-business-laws.

***ENTREPRENEURSHIP FAILURE: The risk of failure is an inherent part of free enterprise. Does society have an obligation to come to the aid of entrepreneurs who try but fail? Why or why not? Also, please discuss some ways you can minimize your risk.

Society does not have an obligation to aid entrepreneurs who have failed. Risk is always involved with entrepreneurship. Entrepreneurs can lessen their…...

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