Dr. Daniel Quaye - Government Involvement with Business
Explore the role of government in regulating the business sector as discussed by Dr. Daniel Quaye from UGBS. Learn about the history of Ghana's economy, reasons for government regulations, and how stakeholders are protected. Dive into the debate on whether government should operate business enterprises.
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Presentation Transcript
Lecturer: Dr. Daniel Quaye, UGBS Contact Information: danquaye@ug.edu.gh College of Education School of Continuing and Distance Education 2014/2015 2016/2017
1. government s involvement with business History and development of Ghana 1. Shift from Socialist to Free market Economy. 2. The dynamics of world affairs and of the economic growth of Ghana. 3. The emergence of multinational companies and large enterprises. 4. The political conviction that government should be a representative of the people. Slide 2 Dr. Daniel Quaye, UGBS
2. Why Government regulates This emanates from the conviction that there must be rules for business, otherwise, disorder and unfairness would prevail. Slide 3 Dr. Daniel Quaye, UGBS
3. How Government regulates the Business Sector 1. The promotion of business competition by permitting entry into any of a wide range of business pursuits. e.g. Protection Against Unfair Competition Act 2000 (Act 589). 2. Regulating and Deregulating Industries. OECD 1995 defines regulation as legal instruments by which governing institutions at all levels of government impose obligations or constraints on private sector behaviour. Slide 4 Dr. Daniel Quaye, UGBS
Cont. How government 3. Protecting stakeholders (i) Bank of Ghana Act provides for its role as regulator of the banking industry. (ii) Public Utilities Regulation Commission 1999 LI 1651 Slide 5 Dr. Daniel Quaye, UGBS
Some government regulating agencies Government Agency Environmental Protection Agency Major areas of responsibility Develops and sets standards to protect the environment. Regulates vehicle safety requirements. Federal Highway Authority Enforces laws and regulations to prevent distribution of harmful foods, drugs, medical devices and cosmetics. Food and Drug Board Slide 6 Dr. Daniel Quaye, UGBS
Cont. How government 4. The provision of adequate public facilities to business in order to insure healthy and expanding business activity. 5. Contributing to economic stability. Dr. Daniel Quaye, UGBS
Something to think about! Should government actively operate a business enterprise? Slide 8 Dr. Daniel Quaye, UGBS
Reading list Introduction of Business Administration Distance Education Manual- Dr Daniel Quaye. Madura, Jeff (2007), Introduction to Business Administration, South-Western College Slide 9 Dr. Richard Boateng, UGBS
