Public Policy and Manager Essay Example

Introduction

Business, government, society, and individuals are affected by the set public policies that make enterprises to be considerate in their quest for survival in the market (Cochran, Mayer, Carr, Cayer & McKenzie, 2015). For instance, a public policy that restricts the operations and expansion of a given business in anticipation of controlling monopoly might affect the consumers thus leading to a social problem in anticipation of solving economic problems. This paper seeks to analyze various issues related to public policies, management of businesses and the issues brought about by changing the way that business practices are carried out.

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Public policy intervention in the competitive market depends on the redistribution of a society's resources, compensation of the market imperfections concerning the social resources in the process of arriving at economic efficiency. Public policy affects social and private costs of production for a given market. In most cases, public administrations may change the economy of a country due to underproduction while creating opportunities for other providers who portray to have little experience and resources (Cochran et al., 2015). Additionally, imperfect information may prevail in cases that the buyers lack adequate information concerning the purchase of product and services in the market. It is, therefore, a point to note that public policy adoption requires the managers of businesses to be familiar of the gaps in the economy as a way of avoiding the misleading information that can be given by the view of consumers' behavior. Sellers can offer the consumers some misleading information that might affect the production process thus changing the whole economy.

How Issues Are Interrelated

The interrelation of issues is portrayed by the way customers who describe the willingness to pay for some policy intervention in line with correcting market imperfection tend to face opposition from the organizations whose working and processes would be affected negatively by the correction of the market imperfection. Therefore, the outcome can be changed by some relative bargaining power of the facilities which are coupled with a set of objectives and the constraints of policymakers.

It has been noted that the producers who face harsh competition may take advantage of the public policy to influence policymakers to erect a change theta can favor them by reducing some pressures that can affect their operations (Draper, 2017). Entry barriers that are controlled by the producers facing harsh competition can affect the required developments in both social and economic contexts. The aftermath of a bankruptcy-influenced policy change can be later rejected by buyers who might pressurize the policymakers to revert their decisions. In that perspective, production and consumption of products can be affected thus leading to challenges in the economy.

On the other hand, exogenous shocks can influence the production technology thus leading to a change in prices that work through market performance. The aftermath may result in policy change pressures. Market distortions and imperfections may affect the production of goods and services.

Possible Future Implications

Future implications of public policy and the challenges of policymakers show that business partners will be considering the change of policies to be a chance to improve their business practices rather than focusing on requests to fight adopted policies (Draper, 2017). Incumbent procedures considered for change policy will be avoided as a way of adapting other means of surviving with the changing policies. Barriers to entry of other businesses would be prevented by making mergers and acquisitions. Also, nationalization and privatization could be another way of enabling the existing companies to attract the people seeking mergers and acquisitions.

References

Cochran, C. E., Mayer, L. C., Carr, T. R., Cayer, N. J., & McKenzie, M. (2015). American public policy: An introduction. Nelson Education.

Draper, T. (2017). American business and public policy: The politics of foreign trade. Routledge.