Audience

Managers and prospective managers seeking an understanding of the interaction of business with the social, political, and economic institutions

Prerequisites

A familiarity with basic management, marketing, and finance

Course Aim

To outline the ways in which government bodies and business can exert pressure on each other, and to discuss the changing relationship between business and the consumer stakeholder

Learning Objectives

Describe the contemporary relationship between government and business. Outline the government's regulatory and non-regulatory roles in business. Discuss the pros and cons of deregulation. Explain the strategies and the power of lobby groups. Describe how political action committees can influence government in key areas. Outline the basic strategic approaches to corporate political activism. Describe the prominent role of the consumer in American society. Identify the ethical issues involved in product information. Discuss the most controversial topics in advertising. Outline the federal and self regulation measures which govern advertising and product information. Discuss the high priority given to quality and safety by both consumers and successful businesses. Outline the purpose of the consumer product safety commission and the Food and Drug Administration. Describe the channels used by business to respond to the needs of consumers. Take the appropriate steps to deal effectively with customer complaints.

Topics Covered

How Government Influences Business - The role of government in business - The nonregulatory role - The regulatory role - Deregulation How Business Influences Government - The contemporary political climate - Lobbying - Political action committees - Corporate political strategy The Consumer as Stakeholder - Consumerism in America - Product information issues - Controversial advertising issues Warranties, regulation, and the FTC The Protected Consumer - Quality and safety for consumers - Consumer agencies - How business responds to consumers - DecisionPath: Providing satisfaction

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