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Business Environment by A. C. Fernando

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12

THE ROLE OF PUBLIC POLICIES IN GOVERNING BUSINESS

The study of public policies, their implications for management, different levels and types of public policy, the role of governments in framing them, their limitations and how all these impact business in different societies and economic systems is very important to any student of the economic environment of business. After reading this chapter, you will be able to understand the implications of these concepts in real-life situations, which will enable you to take appropriate business decisions.

Public policy may be explained as a definite course or method of action selected from alternatives in the light of given conditions to guide and determine present and future decisions of governments ...

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