Role of Regulations in the Economic, Political and Business Premises - Essay Example

Immigration Introduction The emergence of globalization has been elevating the business salience both in the domestic and international political activities and the firms of this present business world are significantly being influenced by various political interventions across the different regions. The political dynamics involve different regulations which have been largely regarded during the present organizational practices in various nations and territories (Bach & Unruh, 2004). With this concern, the immigration regulation of the global countries is also developing according to the political, economic, social as well as business scenario for the people across various regions of the world. The paper intends to focus on various roles and significances of regulations in the economic, political as well as business premises of the global countries and their regulations with regard to the increasing number of immigration. The discussion further revolves around the capability of self-regulation along with the assessment of the extent of influence of ethics and morality in the process of regulation or deregulation. Moreover, the paper will also desire to recognize whether the role of the government is justified or not within the growing concern of regulation process to the daily practice of the business, political or economic concerns. Role and Significance of Regulations in Economic, Political and Business Arena Effective governance along with regulations is always desirable for ensuring and amplifying financial growth of the national economy. Inadequate forms of regulatory infrastructure can turn out to be a barrier to developing or restructuring a long-term financial development. The aspect of effective regulation is quite crucial specifically in terms of identifying lifetime extended asset along with enduring commitments in relationships even as maintaining flexibility according to the changes within the external environment. The long-term regulatory process at times can be identified as a difficult procedure to reconcile with the imperatives that are involved within the short-term democratic government (International Transport Forum, 2011). It is in this context, the global regulation for immigration can be considered as one of the major controversial topics in this present scenario. The developed countries such as the United States, the United Kingdom and other territories are significantly developing certain amendments regarding their migration regulations due to the increasing population from the various regions of the world. For instance, immigration regulations of the countries can be observed frequently being amended in order to protect the local residents and to reduce the number of immigrants in various service sectors or any other trade operations (Pham & Van, 2010). The economy and the government regulation are both interdependent with each other. Economic regulation largely involves governmental directions with regard to prices, revenues and/or environment and condition of opening and exit along with must-serve commitments. According to the present day context, it can be observed that there are certain regulations and laws that intend to restrict the benefits such as providing employment and housing to the people who are immigrated. In the context of statistical analysis and information from U.S. Census Bureau, it can be stated that due to anti-immigration laws by the federal government of the US there has been a slump of 1 to 2% of employment which has resulted in 337 to 675 of individual job loss on an average for a county (Pham & Van, 2010). In the context of finance, the governmental regulations would apply to any perimeters on interest rates which can be charged on deposit amounts or any loan activities. Moreover, on the aspects such as the limits regarding the fees for financial services, entry of foreign and other domestic organizations, establishment of incumbents and other sub-branches along with various field activities of the financial institutions. However, it also need to be considered that the economic regulations have been frequently affected by the emerging flow of deregulation that have taken place in a range of sectors within the various regions across the world from last few decades (White, 1999). In the context of trade operations and other business practices, the immigration regulations have also affected in certain number of enterprises within the US. For instance, the Arizona state based law i.e. Legal Arizona Workers Act empowers state courts to revoke or suspend the business authorizations of the entrepreneurs who employ unauthorized workers within their business process (Pham & Van, 2010). In the context of political concerns, it refers to the various developments and changes in government regulations and policies. The political arena involves a vast influence upon the regulation on the enterprises. Moreover, the political arena also influences and affects upon the spending power of the consumers and the other trade operations. The business organizations are required to follow as well as ensure their constancy and stability to the government policies and environment as along with the regulation frameworks on the economy (Shapiro, 2006). Political influences and politics are the major concerns for any country in order to approve decisions related to the immigration and its regulations. During the past few decades, it has been observed that the formation of liberalization and privatization are combined with the policies that are designed to minimize the burden of business on government which has inconsistently structured the political influences more importantly on the business institutions (Bach & Unruh, 2004). In the similar context of business operations, the immigration regulations create certain number of barriers both in domestic and international operations. The various nations around the world are very significant performers within the global business arena. They can be classified into four categories such as, buyers, suppliers, capital users as well as competitors. Therefore, the regulations can be considered as an essential element with respect to the various trade operations of the global enterprises. According to the modern day context, it can be stated that more than 70% of individuals are buyers in the developed countries which in turn facilitates in increasing the number of global enterprises around the world. Therefore, the immigration policies are also extending according to the increasing forms of business practices. With this concern, it has become more important for the global marketers to identify the factors that can be affected by the regulatory policies and its mechanisms. For instance, the price control quotas could impact on the marketing activities; similarly wages control can affect on the financial structure as well as the import quotas can also create impacts on the marketing, production or both the activities of the firms (Stress, 2011). Capability of Self-Regulation Self-regulation can be considered as an effective and potential alternative of other frameworks which are considered under the prominent assumptions such as, corporate social responsibility, corporate citizenship as well as stakeholder theory. An evaluation of self- regulation can enable to observe fundamental volitional aspects of setting goals and objectives. The process is focused to develop the business strategies by accumulating various external activities that are not related with the organizational objectives. In keeping with the present day context, the global organizations are highly focused on various environmental and other vulnerable concerns within the social environment. Self-regulation can be found as a growing factor in response to the rapidity of regulatory reforms since the recent few years. Conceivably, the most significant form of self-regulation is ensued when a number of organizations, essentially within the regular segment, practice a deliberate regulatory regime through certain types of industry or professional involvement. With regard to immigration issue, by taking into consideration the political aspect, self-regulation can be observed to be a key practice in countries such as the UK where code of practice related to self-regulation is enacted to administer proper assessment of immigration reporting as well as related issues (Norman, 2012). Influence of Ethics and Morality in Regulation or Deregulation Process According to the various studies of moral issues, it can be observed that self-regulation also may manipulate on the types of various moral issues that an individual is aware of. The entrepreneurs with higher self-regulatory individuality, for instance appear to be more alert to the moral concerns regarding personal principles within entrepreneurial conditions (Bryant, 2009). In the context of ethical concerns, it can be recognized that there are a number of issues that are affecting the present business enterprises. The ethical concerns within the global business environment are found to be more delicate and complicated which reflects that there are several decisions that are needed to be made by the organizations, which relates to the business premises. The concept of business ethics tends to highlight on rationalizing the obligation of developing the individual ideas to increase the level of efficiency that keeps both interests of entrepreneurs and the executed regulation or other policies. In the context of immigration issue, ethics and morality plays a crucial part in determining the necessity or rather the appropriateness of regulation or deregulation process. Ethical consideration is a vital component to decide the sovereign rights of a state to prevent immigration process which would in turn affect on the process of implementing deregulation or regulation process. An individual’s right to migrate also can be considered from an ethical standpoint which would affect the decision taken by the higher authority to allow a person to migrate to a different country (Norman, 2012). Government Intervention The government’s objectives within the regulatory process significantly focus towards attaining a robust regulatory process that encourages the development of the policies and the implementation of the guidelines to keep the increasing pace of globalization. Moreover, the governments of various developing nations are highly focused to maintain an appropriate control on developing the decision making processes and the capability to implement the required policies. In the present day context, it has been observed that the governments from various nations seek to introduce a range of initiatives to develop the regulations and policies and their processes. However, it has also been observed that several regulations and policies are generating considerable barriers for the modern organizations within their different trade operations. Despite this fact, government intrusion can be said to be justified in case of immigration process owing to fact that regulation or deregulation process affects a nation’s economy on the whole, thus the process of initiating such processes mainly depends of government prerogatives. Indiscriminate immigration can significantly create damage for a country to establish a stable economic scenario which can in turn affect the people of the country to attain desired job prospects and social prosperity (Commonwealth of Australia, 2008). Conclusion In accordance with the increasing pace of modern business world, the government regulations are found to be more ever-present in various trade operations of the global organizations. With the rising competition among the international enterprises along with the continuous development of the countries across the world, it can be observed that various essential steps of extending government policies and regulations are being formed by the governments. Moreover, the government regulations related to immigration can be considered as an effective support for the enterprises to sustain a feasible growth by conducting various global trade operations. Immigration regulations can be supported to enhance the benefits of employment for the country’s civilization. Therefore, it can be stated that the various governmental regulations with respect to increasing number of immigrants is a defensive or protective law to protect and provide efficient support to the country’s own civilization. Therefore, according to the above discussion of regulatory process, it can be identified that the global countries should focus to regulate certain mechanisms that can be effective for the country to develop the economic level of the each household along with reducing the poverty line within the country. The increasing level of regulatory system will also provide benefits for the business organizations as well as other financial factors of the country to develop their economic structure. References Bach, D., & Unruh, G. C. (2004). Business-government regulations in a global economy: broadening the conceptual map. http://www.latienda.ie.edu/working_papers_economia/WP04-37.pdf Bryant, P. (2009). Self-regulation and moral awareness among entrepreneurs. Journal of Business Venturing. 24, pp. 505-518. Commonwealth of Australia. (2008). Best practice regulation handbook. Retrieved from http://www.finance.gov.au/obpr/docs/handbook.pdf International Transport Forum. (2011). Better economic regulation: the role of the regulator. Retrieved from http://www.internationaltransportforum.org/jtrc/DiscussionPapers/DP201103.pdf Norman, W. (2012). Business ethics as self-regulation: why principles that ground regulations should be used to ground beyond-compliance norms as well. Retrieved from http://polisci.duke.edu/uploads/media_items/pt-workshop-wayne-norman.original.pdf Pham, H., & Van, P. H. (2010). The economic impact of local immigration regulation: An empirical analysis. Cardozo Law Review 32(2), pp. 485-518. Shapiro, S. (2006). Politics and regulatory policy analysis. Retrieved from http://www.cato.org/pubs/regulation/regv29n2/v29n1-7.pdf Stress. (2011). Austin: Chapter 3, the environmental factors (economic, political, cultural & demographic). Retrieved from http://www.google.co.in/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&ved=0CC8QFjAC&url=http%3A%2F%2Fwww.stress.utwente.nl%2Fmodules%2Fdatabank%2Fupload%2FSummary%2520Austin.doc%3FloginID%3Ddc7e3918ad4719a8090d751197a40f6a&ei=FwpPUOrOOpGGrAeTxYCQBQ&usg=AFQjCNFR_AeoMAaPcUpWEQN11fK5OIwY-A&sig2=qwDcEjjSOvTqgL-gkOto2w White, L. J. (1999). The role of financial regulation in a world of deregulation and market forces. Retrieved from http://www.imf.org/external/pubs/ft/seminar/1999/reforms/white.htm#III Read More