Application: Reflection
The importance of a secure, structured, legal environment in which businesses can safely operate and in which they have clear guidance and processes, along with a system that can be used to address wrongs efficiently, was introduced at the beginning of this course. Through the U.S. legal system, case law, Congressional and state statutes, and administrative regulation, you explored the many ways that business is governed and regulated.
Think about all of the legal concepts that you have examined over the weeks that are part of business law in the United States. Consider the many, many rules and regulations that every business must follow. The textbook states, “Government regulation of business has become a way of life in the United States.” Do you think that there could be a point at which the legal system can slow down and lessen the efficiency of business operation?
With this in mind, reflect on the theories, concepts, and strategies presented in this course as you respond to the following:
Explain whether you believe that there is too little regulation and protection for business in the United States or whether you think that there is too much regulation slowing down the efficiency and reducing the profitability of business in this country. Be sure to support your reflections with several examples from the text, class discussions, or any other source. Also, include a brief abstract in your paper.