Basic Environments of Law, Social and Economic Growth

Basic Environments of Law, Social and Economic Growth

This paper is one that I will try to explain what the basic laws of an organization are. It is a subject that it seems no one wants to address, after sifting for hours in the school’s library and the internet, it seems that everyone has something to say that has nothing to do with the basic laws of a business environment. So, I chose instead to use titles of information to show what the basic law is. Human Rights, Privacy, these were titles. But when I read the content, it had nothing to do with the title. Human Rights, Privacy, these were titles. But when I read the content, it had nothing to do with the title. So, I guess basically, our human rights are part of the basic laws which would include privacy. Privacy is something that all of us need and want. There is certain information that is okay for everyone to know about and there are things like social security number, our driver’s license number and personal background that are off limits to the public. This would fall under both Privacy and Human Rights.  

As to the social environment of an organization or business, (Griffin, Ebert. Business Essentials, 8th Edition) it is how they deal with their employees, including them on decision making, treat them fairly and make them a part of the team. Respect their dignity and basic human needs.  Social responsibilities toward investors means following proper accounting procedures. Providing appropriate information about the financial performance, and protecting shareholder rights and investments. It is basically what is socially accepted practice in business. The social practices are being continually challenged and changed.

Economics basically is where you have a limited supply of a commodity and you need to disperse it to everyone within your community/organization/company. You need to figure out how to disperse it so that everyone gets a fair share. It is not what they want, but rather meeting their needs. Back to the 16th century people have been plagued with what good economic growth is and how to make it fair for everyone. In about the 17th century taxing was considered kind and fair. “The most important work of the 18th century, however, was Adam Smith. (Smith, Adam, 1723–90, Scottish economist, educated at Glasgow and Oxford). Smith identified self-interest as the basic economic force and, through his analysis of the division of labor division of labor, in economics, the specialization of the functions and roles involved in production. Division of labor is closely tied with the standardization of production, the introduction and perfection of machinery, and the development of large-scale industry.”  So, self-interest is the force behind basic economics. My thought of how to understand something is go find its’ roots and then go forward. Everything has a basis by which we build upon. If you calculate speed for instance, you have to first know what speed is and base that speed on a basis. Economics works the same way. You first have to know how and what to base it upon in order to see growth from a beginning.