Assigned Readings:

Chapter $7.$ Business Government Relations

Chapter $8.$ Influencing the Political Environment

Chapter $9.$ Sustainable Development and Global Business

Overview:

In Part Three, and starting in Chapter $7,$ we examine the business and public policy process, particularly for the government as a key stakeholder with businesses. Governments seek to regulate and manage businesses in order to promote the public good and impact business relations. Good managers understand and appreciate the influence of government policy and regulation in their markets and conduct their business in an ethical and legal manner. Government$$s role in creating and enforcing laws balance the relationship between business and society, serving as a fulcrum with various essential players.

Chapter $8$ continues this exploration of the political environment and parties, particularly in the political process and how businesses are active and effective participants. Businesses realize that they must monitor the political environment where they operate and address political issues as they arise. As part of this work, businesses must develop their own corporate political strategy and integrate it into their overall management strategies. Through these efforts, businesses become another constituent in the political process.

Chapter $9$ opens our analysis on businesses in our natural environments, particularly in our examination of sustainable development, the theory that economic development must exist without depleting natural capital. With a limited carrying capacity and other ecological crises facing businesses and societies alike, communities and stakeholders must innovate and cooperate to manage their negative impacts and effects. The foundational examination of these issues guides us in determining our options as managers in promoting good with our products and services.