Table of Contents
Introduction ........................................................................................................................................... 2
1.Regulatory Policy ............................................................................................................................ 2
1.1.Examples of Government Regulations ......................................................................................... 2
1.2.Regulation and its effects ............................................................................................................ 3
2.Evaluating regulatory policy ........................................................................................................... 3
3.Policy acceptance............................................................................................................................ 4
4.Government and modification of policies ..................................................................................... 4
Conclusion ............................................................................................................................................. 5
References ............................................................................................................................................. 6
1
, Introduction
The essay is going to discuss to identify one government policy. The essay is also
going to discuss policy acceptance .Apart from that the essay is going to give an
evaluation and modification using the identified policy as reference . A government
policy is a rule or principle that hopefully better guides decisions, resulting in positive
outcomes that enhance the community or unit. Government policies contain the
reasons things are to be done in a certain way and why. Policy acceptance refers to
judgments about and evaluations of the policy in place . Policy acceptance is a step
in the right direction and being able to demonstrate that an employee also
understands the policy is key . Policy evaluation applies evaluation principles and
methods to examine the content, implementation or impact of a policy. Evaluation is
the activity through which we develop an understanding of the merit, worth, and
utility of a policy.
1.Regulatory Policy
Regulatory policy refers to restrictions governments impose on businesses to help
create a fair and efficient market. The main goal of regulatory policy is to meet
government objectives by using regulations and other instruments to provide better
economic and social results, thereby improving the lives of businesses and citizens.
Based on the regulatory policy definition, one can deduce that these policies are
essential as they help economies flourish, especially during times of crisis. Guidi (
2020) argued that regulatory and normal policies differ because regulations are
restrictive and are characterized by sanctions on governance and people. In
contrast, normal policies are guidelines that help individuals, organizations or even
governments conduct their business and achieve their goals. The primary purposes
of regulatory policies involve ensuring the effectiveness of said policies and meeting
the interests of the general populace. These purposes are explained in detail below.
1.1.Examples of Government Regulations
Government regulations can be depicted in many ways in a country. Some examples
that depict government regulations are taxes, environmental protection regulations,
and financial regulations. Taxes are mandatory levies imposed on individuals and
businesses by the government where they have to pay the levies and file returns that
enable the taxpayers to calculate their tax liabilities and request refunds for overpaid
taxes. According to Bajra (2020) , the government collects taxes as a primary source
of revenue to enable it to fund public services. Therefore, the payment of taxes is a
government regulation because it is a directive by the government and a ruling that
requires businesses and employed individuals to pay them and file returns annually.
The government provides penalties for defaulting tax payments, known as tax
evasion. Environmental protection regulation explains the policies and measures that
the government establishes to protect the environment against pollution and other
harmful substances. These measures dictate the human activities that individuals
and industries should not engage in and those to engage in to prevent negative
effects on the environment. Generally, these laws protect the ecosystem and the
environment to ensure that they are safe and productive as required when they are
free from harm. Financial regulations describe the policies and laws that influence
the financial industry through financial institutions like banks, insurance companies,
2
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