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Learning Journal Unit 7 (BUS 3305 WK 7)

The document discusses the government's role in regulating limited liability companies. It explains that government intervention needs to balance public interests, economic stability, and ethical practices. Both excessive and insufficient regulation can have negative effects, so determining the appropriate level of participation is important.

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Inn Gyin Khine
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45 views3 pages

Learning Journal Unit 7 (BUS 3305 WK 7)

The document discusses the government's role in regulating limited liability companies. It explains that government intervention needs to balance public interests, economic stability, and ethical practices. Both excessive and insufficient regulation can have negative effects, so determining the appropriate level of participation is important.

Uploaded by

Inn Gyin Khine
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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I completed a number of tasks this week that were meant to help me better grasp the

course material and how it relates to my goals for my life and work. All of the reading

assignment's tasks turned out to be relevant and enriching. In particular, the reading

assignment gave me great insights that improved my understanding of the material and gave

me useful knowledge that I can use in everyday situations. The Self-Quiz was a useful tool

for self-evaluation as it allowed me to see where I stood on the teachings from the week and

assess my understanding of them. Overall, these tasks created a supportive learning

atmosphere that enabled me to actively consider newly acquired knowledge and how it would

affect my future development on both a personal and professional level. I learned about the

basic to sophisticated elements that affect company organization in this week's assignment, as

well as how crucial they are in determining how taxes and responsibilities are structured.

Company entities are the cornerstone of commercial activity.

Any investment with limited liabilities is one in which the investor's highest potential

losses are equal to the amount invested (Lau & Johnson, 2011). Creditors cannot access the

investor's other assets. Interference by the government with limited liability companies'

activities is a complicated matter that strikes a balance between the rights of individuals, the

public interest, and economic stability. Even if the government designs and controls these

forms, it is important to carefully assess the right amount of involvement to maintain an

efficient and equitable corporate climate.

Interference by the government with limited liability companies may be justified as a

necessary precaution to safeguard the general welfare, encourage economic stability, shield

customers from dishonest business practices, and guarantee legal compliance. Governments

have an obligation to make sure companies follow the law, behave morally, and meet their

stakeholder commitments (Keatinge et al., 1992). This might involve stopping dishonest
behavior, harm to the environment, and other negative activities. Regulations designed to

stop monopolies, maintain fair competition or stabilize financial markets can all contribute to

economic stability. Regulating product quality, safety, and labeling, as well as providing

dispute resolution procedures, are effective ways to safeguard consumers. Proponents of

limited liability contended that it would not only boost investment but also the establishment

of investment channels—many allusions were made to the surplus of cash lying around—for

the good of the nation overall (Ireland, 2010). Since limited liability companies must abide by

numerous rules and regulations pertaining to employment, taxes, and intellectual property,

legal compliance is also very important. On the other hand, overbearing government

intervention can hinder economic growth, entrepreneurship, and innovation. As a result,

finding a balance between regulation and enabling companies to function and compete in the

market is essential (Sadeh et al., 2020).

In summary, the government's intervention in limited liability corporations needs to

carefully balance the interests of the general public, maintain economic stability, and

encourage ethical corporate practices. While excessive interference can stifle innovation and

progress, regulatory supervision is necessary to avoid abuses and preserve legal compliance.

Determining the appropriate degree of participation is therefore essential to creating a

productive and fair work environment that benefits both people and society at large.
References

Ireland, P. (2010). Limited liability, shareholder rights and the problem of corporate

irresponsibility. Cambridge Journal of Economics, 34(5), 837-856.

https://doi.org/10.1093/cje/ben040

Lau, T. & Johnson, L. (2011). The Legal and Ethical Environment of Business (Vol. 1). Flat

World Knowledge.

https://my.uopeople.edu/pluginfile.php/1823942/mod_page/content/6/

LegalEthicalEnvironmentBusinessChapter11.pdf

Keatinge, R. R., Ribstein, L. E., Hamill, S. P., Gravelle, M. L., & Connaughton, S. (1992).

The Limited Liability Company: A Study of the Emerging Entity. The Business Lawyer,

47(2), 375–460. http://www.jstor.org/stable/40687300

Sadeh, A., Radu, C. F., Feniser, C., & Borşa, A. (2020). Governmental Intervention and Its

Impact on Growth, Economic Development, and Technology in OECD Countries.

Sustainability, 13(1), 166. https://doi.org/10.3390/su13010166

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