Government regulations protect society, such as the Environmental Protection Agency’s (EPA) emissions controls that protect the environment, but often hinder profitability of corporations and small businesses (Ferrell, Thorne, & Ferrell, 2016). Recent regulations were the government’s responses that triggered by economic crises caused by financial servicesthe Lehman Brothers’ bankruptcy, deceptive mortgage lending practices, and a failing automotive industry in the U.S. (Ferrell et al., 2016).
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Government regulations, past and present, place strict controls on employee safety in the workplace environment, employment security, mandatory employer-provided health insurance, sales taxes, and corporate double taxation that result in soaring man hours and financial expenditures for organizations. Regulatory Reform
The U.S. has the highest corporate tax rate in the world with direct and indirect impacts on organizations. In addition to federal regulations, organizations are subject to statutes and taxes in the state, city, and locality of operation. According to a recent college study of Goldman Sachs 10,000 Small Businesses (as cited in Greene, 2017), nearly all businesses conclude that government regulations are complex and time consuming. With variants in federal, state, city, and local regulations, streamlining rules and simplifying the tax code will enable organizations to efficiently comply with regulations and focus on growth (Greene, 2017). Political Strategies
Principal decision makers in an organization influence the course of its political activities (Bonica, 2016). In 2012, corporations donated $75 million to election campaigns with $20 million contributed by shell corporations that individuals used to shield their identities and donations (Bonica, 2016). Corporate executives use social media or request meetings with lawmakers and regulatory agency chairpersons to report on the impacts of regulatory authority on organizations.
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