MKT 100 Study Guide - Commercial Motor, Dofasco, Vale Limited

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Jennifer Fraser

Document Summary

Margaret thatcher elected prime minister in britain under conservative party in 1979. Action plan based on superiority of the marketplace to predict human wants and needs. Privatization became the slogan of the thatcher government. Privatization recognized government need not engage in vertical and horizontal integration. Private sector failed in the level of its scientific knowledge when compared to the cumulative knowledge of the government scientists. Sound science should have formed the basis of policy under open democratic scrutiny. Failure in risk management during a shift in risk management. Regulatory failure -failure to identify and manage risks associated with that privatization. Lack of consideration of scenarios overtime if no lack, it would"ve been apparent that deregulation could not occur in a compressed time frames. Where there are threats of serious or irreversible damage, lack of full scientific certainty should not be used as a reason for postponing measures to prevent risk.