Businesses today prefer to have the government set the standards for acceptable behavior.

Question

Quizplus · Accepted Answer

Businesses today, especially in the Western world, prefer to self-regulate and establish their own codes of conduct, rather than rely solely on government-imposed standards. Many companies believe that self-regulation fosters greater trust and transparency with customers and stakeholders, and can help to distinguish them from competitors who may not adhere to similar standards. However, government regulation and oversight are still important for ensuring consumer protection, safeguarding the environment, and promoting ethical practices in industries where self-regulation may not be effective.

Businesses Today Prefer to Have the Government Set the Standards