Business Regulation Simulation Essay Example | Topics and Well Written Essays - 1750 words

Business Regulation Simulation - Essay Example The simulation will be based on the Legal Environment of Business Simulation UOP. the aim of the paper is to identify and analyze the main facts, regulations, and legal issues which influence the company and its stakeholders. Also, the paper will cover risk analysis and ethical questions, and provide possible solutions to the problem exist. The aim of EPA rules is to promote better self-regulation of business. EPA rules and regulations have a great impact on decision-making process determining direction and strategies of future growth and development. EPA found that five years ago, Alumina violated environmental regulations and rules. According to commission results, PAH concentration was above the norm. Thus, Alumina asked for another test and received a good record of compliance. Except this case, the company strictly follows environmental rules and regulations. This adversarial mode of business-government relationships in the regulatory arena can be adapted to a more cooperative, less confrontational mode through positive interaction between compliance officials from the public and the private sectors. The central theme of interactive corporate compliance is the encouragement of effective compliance systems within each business so as to ensure that the purposes of public policy are reflected in the internal operatio ns of American businesses--not only through the threats of enforcement efforts for noncompliance, but also through the positive effects of recognition of the obligations to make corporate practices square with the requirements of public policy. Voluntary compliance can be made palatable, and even profitable, in an effective scheme of interactive compliance (Hildreth 2007; US. EPA 2006). The Freedom of Information Act (FOIA) is another important issue in simulation. Among most FOIA officers, the individuals who process the requests and authorize the disclosures, there is, in fact, a genuine respect for the FOIA. This act was signed by Even Lyndon Johnson in 1966. Following this Act, Alumina asked the Environmental Protection Agency (EPA) to disclose the information concerning their spill five years ago. No one, in or out of government, can deny the oppressive delays in agency response to FOIA requests, but this varies from agency to agency and is often due to the refusal of the executive branch to provide adequate funding and staffing for its FOIA sections. Indeed, there is considerable evidence that the career professionals overseeing the implementation of the FOIA in federal agencies have, for the most part, accepted the principle of the public's right to know (Richter, 2002). Another important factor covered by the study is the U.S Environmental Protection Agency Compliance Incentives and Auditing policy. The aim of this strategy is to identify all aspects of its production, storage, and transportation operations, analyzing its management systems, and other systems designed to avoid, prevent, or mitigate spills. More and more, individual citizens throughout the country are deciding to reward what they see as "good" businesses with patronage, support, and good will and to tell the dishonest or unethical corporations to shape up or lose their business. This is becoming particularly evident in the areas of the environment and public health. Kelly