Question

Explain the expectations of the Government from a business organisation.

Answer 1

The expectations of Government from a business concern are:

1. To follow the laws and regulations of the country.
2. To pay all taxes honestly, regularly and in time.
3. To avoid corrupting public servants
4. To make proper use of scarce resources of the nation.
5. To assist in solving national problems like poverty, unemployment, unbalanced regional growth etc.
6. To avoid monopoly and concentration of economic power.

The expectations of General associates/Competitors from a business concern are:

1. Fair trade practices regarding price, quality and service.
2. An atmosphere of healthy competition and ethical behaviour.
3. Co-operation among competitors to ensure the growth of the entire industry.
4. Respect for intellectual property rights.