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Stakeholder Management.docx

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University of Lethbridge
MGT 3031
John Usher

MGT3830: Managing Responsibly in a Global Environment March 1/12 Business, Government, and Regulations: Canadian Business Ideologies  We often don’t think of the government as a stakeholder, but it is  Government’s role in influencing business o A lot of industries carry certain rules governing how their industry can operate o Agriculture, energy o Is a financier of the economy o Protects against monopolies, etc o Acts as a social conscience…  Transfer payments between provinces (Alberta  Newfoundland)  Industrial policy o Involves a lot of government intervention  NOT industry self-regulation o As the government is the overseer of government at large and society, there is always a temptation to meddle.  Self-regulation o Negotiated: involves third party, not very common o Mandatory: TSX has securities commission that mandates them to self-regulate, or else they will be regulated  Types of regulation o Economic regulation  The government is right in your business telling you how it should run o Social regulation  Government is not intervening but is regulating parts of the business such as minimum wage, etc  Costs of regulation o If the
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