Give an example of a federal administrative agency whose regulatory authority has had a significant effect...

80.2K

Verified Solution

Question

Operations Management

Give an example of a federal administrative agency whoseregulatory authority has had a significant effect on businesspractices and explain your choice.

Answer & Explanation Solved by verified expert

4.5 Ratings (952 Votes)

Administrative rules and regulations constitute the largest body of laws that directly affect business These regulations are issued by dozens of federal and state agencies that regulate virtually every aspect of modern business life including the natural environment corporate finance transportation telecommunications energy labor relations and trade practices The administrative agencies derive their power to promulgate regulations from statutes passed by Congress or state legislatures The agencies have a variety of powers They can license companies to carry on certain activities or prohibit them from doing so lay down codes of conduct set rates that companies may charge for their services and supervise various aspects of business From early 1900s administrative agencies law and procedures have virtually remade our government and private life Every day business must deal with rules and decisions of state and federal administrative agencies Informally such rules are often called regulations and they differ from laws passed by Congress and signed into law by the president The rules created by agencies are voluminous thousands of new regulations pour forth each year The US Constitution mentions only three branches of government legislative executive and judicial There is no mention of agencies in the Constitution even though federal agencies are sometimes referred to as the fourth See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member