I am on the fence about the business regulations. I do think that
there are way too many rules and regulations that play into
businesses, but at the same time most of them are necessary. Rules
and regulations are put into place to keep everything in order and
running smoothly. I do think having too many regulations will make
people try to find loopholes which can result in ciaos.
I think the environmental protection agency and the food and drug
administration are necessary. Their rules and regulations are put into
place for a good reason and I believe that these are very helpful.
They are protecting the environment and the safety of humans. They
are straight forward with their rules and they are not too extensive
either. I will say that I do not always agree with the FDA rules. I think
only after intense clinical trials drugs should be able to be marketed. I
sometimes believe they don't do enough clinical trials for certain
drugs before putting them on the market for everyone to consume
(Davis, 2022).
I am on the fence about the other many regulations put into play for
businesses. There are some that are necessary in order to keep
everything on track and in order. On the other hand, there are some
rules that are very extensive and seem unnecessary. It can be hard to
run a business and follow every single rule and regulation to the
exact qualifications. There can be major consequences if not
followed correctly, but at the same time it is hard to run a business
with all of those rules.
The Sarbanes-Oxley has caught many businesses in fraud. That
regulation was put into place to make sure businesses books and
finances are correct and accurate. It can be frustrating for businesses
that actually follow the rules because audits can be difficult. It does
play a good part when they do catch companies that are fraudulent
and know that they are doing wrong (Davis, 2022).
References
Davis, M. (2022, March 17). Government regulations: Do they help
businesses? Investopedia. Retrieved April 19, 2022,
from https://www.investopedia.com/articles/economics/11/govern
ment-regulations.asp
