Thread: Government laws and regulation Vs Self-regulation by organization

Do you think that there is a need for more government laws and regulation or is Self-regulation by organization the better way to go, State your case.

According to me government regulation is better way to go, I will be explaining in this journal why government regulation is always a better way than self regulation. Self regulation means the companies and organizations can enforce their own process or standards rather than by government or industry. The common example of regulation includes pollution, prices of the product, quality regulation, employment policy, standard of goods and service.
If self regulation is followed not all the organization will be able to follow the above said regulation. This happens mainly because the primary goal of any organization will be profit making and cutting cost. Organization will do fallow certain regulation like maintaining the quality of product, but organization will mostly follow regulation which are benefit for them. Due to the above said reason it’s always better for government to impose regulation rather than organization doing it themselves.
Government regulation will be mainly focused on the following things like benefit to society in general, uniformity, avoiding gray market, certain quality regulation and other policy in interest of both the public and for organization. By government enforcing regulation it becomes compulsory for organization to fallow it without any regrets has failure to follow can lead to disciplinary action against the organization , can even lead to cancellation of the license.
According to me government regulation is needed to protect the environment and quality of product reaching the final consumer. For developing countries like china and India the organization in this developing country will be more focused on making profit and will be least worried to sustain the environment. So in this case government should enforce strict regulation to protect the environment, quality of product and also to control the price of the product without affecting both the consumer and the manufacture.