Role of Public Policy in Governing Business

-Prof. Vikram S. Tyagi

Prof. Vikram S. Tyagi

What is Public Policy ?

"Public

policy is what government chooses to do or not to do."

No policy becomes public policy unless it is adopted, implemented and enforced by some governmental institution. Government gives public policy three distinctive characteristics: (i) It lends legitimacy to policies. Government policies are generally regarded as legal obligations which are easily observed by citizens (ii) Government policies involve universality as these extend to all sections of society unlike the policies of other groups such as corporations, churches, civic associations etc. that reach only a part of the society and (iii) Government alone can exercise coercion in societyonly government can legitimately imprison violators of its policies.
2 .

Classification of Public Policy

Public policy can be organized along the following five lines: (a) Regulatory (b) Distributive, (c) Redistributive, (d) Capitalization and (e) Ethical.

Areas of Public Policy

Economic management Labor management relations The welfare state Shaping of Public Policies affecting Corporate Sector

Shaping of Public Policies

Constituents of Economic Policy

Public Policies and Government Regulations in India

Environmental Protection Law Workplace Safety and Health Functional Regulations Public Policies for the Global Village

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Prof. Vikram S. Tyagi