Laws For Fair, Balanced And Competitive Business Practice

815 words - 4 pages

United States has several laws that ensure that competition among businesses flow rely and new competitors get free access to the market. These laws intend to ensure fair and balanced competitive business practices. However, there are times when some businesses will do anything to gain competitive edge. USA has string antitrust laws that prohibit fixing market price, price discrimination, conspiring boycott, monopolizing, and adopting unfair business practices. The history of Antitrust laws goes back to 1890 when Congress passed Sherman Act. In 1914, Congress passed two more acts: Federal Trade Commission Act, and Clayton Act. With some revisions, these three acts are still core antitrust ...view middle of the document...

For example, the Foreign Corrupt Practices Act of 1977 (FCPA) addresses accounting transparency issues and bribery of foreign officials.
History is full of high profile cases of violation of antitrust laws and competitive business practices. Rockefeller’s Standard Oil dropped its price by more than half and bought up many competitors. Microsoft has also been accused of adopting unfair business practices and discouraging competition several times. Microsoft started getting its web browser Internet Explorer with Windows operating system and other products. Even though consumers were not forced to purchase the Internet Explorer browser, Microsoft did manage to discourage competition. Court held Microsoft liable under antitrust laws. Many times even a government can allow a company to work as monopoly. For example, AT&T was allowed to work as a natural monopoly. Similarly, Kodak was found violating antitrust laws in 1921 as at that time Kodak was controlling 96% of film and camera market in USA. Company was accused of discouraging competition. (antitrustlaws.org) In 2013, Apple was found violating antitrust law by conspiring to raise prices of e-books.
In spite of such laws, businesses find ways to practice unfair business practices. There were times when large enterprises have been able to drive smaller businesses out of business. Companies had left clients with no choice, but to buy their products. Companies have been cheating consumers. It is not just large corporations; even smaller corporations are indulged in unfair business practices. According to FTC, American consumers lost over $1.6 billion to fraud in 2013 alone....

Find Another Essay On Laws for Fair, Balanced and Competitive Business Practice

Innovation, Design, and Creativity for Competitive Advantage

898 words - 4 pages DEFINITIONS PAPER PAGE \* MERGEFORMAT 1 OI/361 Innovation, Design, and Creativity for Competitive AdvantageDefinitions PaperEn el siguiente escrito se definen y contrastan los términos de innovación, creatividad y diseño aplicados al mundo de los negocios. Estos términos son de uso frecuente en el mundo empresarial. Al mismo tiempo, son esenciales para las empresas, ya que estos ayudan a los administradores y

Marketing Principles and Business Practice: IKEA

2528 words - 10 pages website. For that they earned 23 billion Euros as sales revenue. The competitive advantage of this company is its low price and sustainable marketing strategy. To compete in the market and to win the customers’ mind they took many business strategies. In this assignment, the definitions of different terms, their engagement, different business strategy, marketing programs, SWOT analysis, SMART marketing strategies are discussed. After analyzing that

Business Laws That Protect Both the Business and Customer

794 words - 4 pages Even though there are some people who think laws are useless and unfair; laws are designed to protect businesses and customers. Without the laws we would risk business practices being dishonest and unfair. The Antitrust Laws are in place to protect us from business practices being dishonest and unfair. The antitrust laws make it illegal to conspire to restrain trade and commerce in any marketplace, regardless of size (SBA.GOV). These laws

Business Model and Strategic Plan Part III Balanced Scorecard and Communication Plan

763 words - 3 pages business procedures, and research and development (Bergen & Benco, 2007).These four areas can be described keeping in consideration the organization's objective, perception and value declaration as:1) FinancialThe Compton Fitness Gym would have to concentrate on developing a competitive edge for itself through distribution of correct passable sources as well as through keeping a client database so as to decrease the element of danger by a

Business Law and Ethics Can the Issue of Profitability and Ethics Be Balanced Against Each Other

918 words - 4 pages BUSINESS LAW AND ETHICS.Can the issue of profitability and ethics be balanced against each other:Businesses in today's world is a major part of everyday life some corporate are even larger than many economies of the world thus the businesses have a responsibility towards the very society in which they carry out their operations. This is known as corporate social responsibility according to (Kotler year missing)"corporate social responsibility is

Myer's loyalty program: business process and business practice

1765 words - 7 pages Report (1)Description of MyerMyer is one of the market leaders in Australian retailing industry. Its first store opened in 1900. With continue development, Myer became a large-scale department store (Myer (a), 2008). 108 years later, Myer has 65 stores in Australia. It has new and innovative ways of displaying products within the stores. For its customer, Myer has always been committed to offering a great variety of products (Myer (b), 2008). In

Fair Labor Standards Act of 1938 and Fair Wages for Disability Employees

1165 words - 5 pages sheltered workshops and the timed tests used to determine subminimum wages for employees with disabilities. I will then go on to discuss the history of the Fair Labor Standards Act of 1938 and how companies use a section of the legislation to get away with paying their employees with disabilities so little. And finally I will discuss the ethics behind the use of this piece of legislation and also provide a counter argument which supports

theory practice for teaching and learning

1902 words - 8 pages an approach based heavily on the presentation and practice of grammatical forms. The important thing, however, is that almost all studies see language learning as a developmental process which is mediated largely by the learner. In other words it is the learners’ experience of using language which enables them to develop a usable language system. The question for teachers is how best to provide that experience and how best to help learners exploit

Physiology and Pharmacology for Nursing Practice

2425 words - 10 pages Section one Homeostasis, which literally means ‘same standing’ from the Greek words for "same" and "steady," refers to any process that living things use to actively maintain fairly stable conditions necessary for survival (Clancy et al., 2011). It is a term introduced by Cannon in 1930 to describe the goal of all the body’s physiological processes. These processes dynamically maintain a relatively constant state called steady-state in the

Desensitization therapy for allergy: theory and practice

1887 words - 8 pages , Frati F, Sieber J, Van Overtvelt L. Immune mechanisms of allergen-specific sublingual immunotherapy. Allergy. Feb 2006;61(2):151-165. 8. Senna GE, Makatsori M, Schiappoli M, Dama AR. Subcutaneous allergen specific immunotherapy: best clinical practice as cornerstone for future development. European annals of allergy and clinical immunology. Oct 2011;43(5):135-140. 9. Calabria CW, Cox L. Accelerated immunotherapy schedules and premedication

Financial Fair Play and "Salary CAp" for European Football Clubs

3502 words - 15 pages predetermine the champi- onship, thereby violating the foundation and the objectives of sports. The Competitive Balance is also negatively affected by the policy, according to another economical point of view. Competitive balance, the degree of equality of the playing strengths of teams . In other words, it describes the the situation in which no one business of a group of competing businesses has an unfair advantage over the others. For instance

Similar Essays

News: Is It Fair And Balanced?

2155 words - 9 pages Times remained objective, listing facts and interviewing people within Iraq who are directly involved in the war in Iraq. Different news sources provide the viewer or reader with a different view or perspective of the war. I found that a well-rounded view of the war is more easily found in the written news, such as The New York Times and The San Jose Mercury News. Objectivity, a fair and balance report, is what viewers are looking for and it seems

Altering Your Style Of Teaching For Demands Of Different Practice And Competitive Situations

1493 words - 6 pages Altering Your Style of Teaching for Demands of Different Practice and Competitive Situations Before deciding on one's teaching style, one must view the performer or team, to establish their strengths and weaknesses. By doing this the teacher can decide what needs to be taught in using either command, reciprocal, discovery, or guided discovery styles of teaching. When choosing which method to use, the leader must decide

Strategic Business Recommendations For Balanced International Development Of State Owned Oil And Gas Or Power And Energy Companies

1383 words - 6 pages Strategic business recommendations for balanced international development of state owned oil and gas or power and energy companies. From business perspective “Let’s go global!” or “Now it is a time for international development” might be announced by many companies. Such statements in strategic declarations are often used without real understanding of its meaning. Often it is easier to say than done and first hurray optimism and quick decisions

Are United States Business Laws Effective At Promoting Fair Business Practices

878 words - 4 pages impacted by natural disasters and also provides counseling on international trade matters. The United States government has a long history of implementing legislation for fair and balanced business practices. The resultant rating of being the number one gross domestic product nation in the world indicates that United States laws are effective. Works Cited (Retrieved March 22, 2014). Retrieved from Wickipedia: http://en.wikipedia.org/wiki