Business regulation simulation
In this paper we will discuss the basic concepts of regulatory law within an organization. Basic concepts of regulatory law consist of the Constitution, Antitrust Laws, Securities Regulations, and Environmental Laws. The separation of power deals with federal government and the balance of power, along with distinguished roles between federal, state and local government entities. The supremacy clause is in effect if a state law conflicts with a federal law. A court then decides if the state law prevents or interferes with Congress's intention.
The primary reason for environmental regulation is concern over the effects of human population growth and the impacts of human technology (Reed et al, 2005). Alumina Inc. is a U.S.A.-based $4B aluminum maker that operates in eight countries around the world. The companys interests lie in automotive components, manufacture of packaging materials, bauxite mining, alumina refining and aluminum smelting. During a routine EPA compliance evaluation inspection five years ago, Alumina was reported to be in violation of environmental discharge norms. Currently, Alumina is facing a crisis due to a local residents allegations of environmental damages.
Many government agencies regulate businesses, their processes and their actions. These governmental agencies include the respective state agencies that oversee corporations, the Internal Revenue Service and local Chamber of Commerce. These agencies pass many laws guiding businesses. These laws include consumer protection laws, contract laws, intellectual property laws, environmental laws, employment laws, tax laws and zoning laws. In order for any company to be successful, it has to be responsible enough to abide by these laws. Environmental regulation is one of the most stringent areas of government regulation and the government and its citizens expect compliance.
The goal of this paper is to identify the regulatory and legal issues in the Alumina simulation, identify stakeholders and their conflicts, and recommend a...