Business and government

Question 1

The first positive aspect of this semester is that the lecturer provided detailed content outline before the start of topics. The lecturer described the elements of the topics and also gave directions as to how assessments will be conducted. The content was also broken down into subtopics and topics, in an outline format. The outline helped in the navigation of topics as they were covered. A detailed outline enabled the complete course development. The second positive aspect of the lesson was that the lecturer gave students time to actively engage with the subject matter. The strategies used included providing summary handouts or subject notes. This reduced note is writing and encouraging students to focus their attention on key points. There are some areas that require improvement. The first one is the thorough explanation of key concepts and examples. There is a need for detailed explanation that goes beyond the short lecture segments. When students don’t understand the key concept, they are forced to read extensively in order to gather further details and examples. The second area is the use of a range of reference materials to cover topics. A diverse range of materials offers students the opportunity to understand concepts from different perspectives.

Question 2

Government regulations impact businesses and industries in many ways. The level of impact is dependent on the nature of regulation. Increased regulations result in high workloads for businesses as time and effort is needed to adapt business practices to new requirements. Many industries in the business world often complain about government regulations due to their restrictive nature. Statutory requirements can impede corporate profits. In the case of violations, businesses may incur cost in form of fines and taxes. Government regulations can also be beneficial to companies. Through regulations, government intervenes in the affairs of businesses and keeps the public and consumers safe from a wide range of malpractices, secondly, the government benefits from vital tax revenues from corporations. Thirdly, government regulations build consumers’ trust in safety of products. To small businesses and corporations, government regulations act as catalyst for change. For example, a tax and duty exemption on a particular product can trigger investment in it and may generate growth. There are ways through which businesses can remove regulations. These include lobbying or financing bills.

Question 8

Technologies have a range of advantages and disadvantages. The first advantage of technology is that it has enabled easy networking and communication. Technology has come with numerous tools and platform through which users can use for communication purposes. Technology also avails data that can be used for decision-making purposes. Additionally, the adoption of technology by businesses has allowed them to gain a competitive edge as it improves efficiency. One major disadvantage of technology is that it has resulted in the loss of jobs. Automated processes mean that manual labor is cut down. While this benefits the business owner, it is a disadvantage to employees and families who depend on such jobs. Technology also brings about privacy issues as information stored in databases may be lost through theft or hacking. The primary effects of technology as seen in the relationship between business and society include the ability to produce goods in large quantities to fulfill the needs of the society. Today, People and business use social media and other online platforms to communicate to an audience in a faster and simple manner. It may also allow individuals to communicate more effectively and more often as opposed to the past.

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