Context and process IP Essay Example | Topics and Well Written Essays - 750 words

Context and process IP - Essay Example Beaufort and Longest (2006) note that knowledge of the external environment enables better collection, analysis, and organization of data. This assists in the development of strategies, based on risk assessment and needs analysis carried out by the body developing the policy. Data in this case may be collected from stakeholders by holding ad-hoc meetings or through the media. The data collected will then act as the foundation from which policies are developed. The involvement of the external environment in the policymaking process leads to the development of impartial and just policies. Beaufort and Longest (2006) note that policy making involve many phases of consultation and thus require specific modes of communication. For this reason, the participation of external parties will ensure that policies developed do not favor one party while marginalizing others. Data will be collected in relation to different stakeholders and their interests especially those of the shareholders, creditors, sponsors, society and the organization itself. Once all the views and interests of the stakeholders have been established, the policymakers will then have to assume a position of compromise so that no group is discriminated (Cizek, 1999). The number of laws regulating business activities has grown over the past years. In this regard, the government regulates the private sectors by ensuring that the policies adopted are for the good of the society. In this case, it limits the private sectors from adopting policies that in its view may cause harm to other organizations, individuals, and groups during the course of conducting business. The regulation will lead to adoption of policies that allows for a free market competition. It also reduces instances of adopting policies that may give control to one business over others resulting in monopoly. This will ensure that every business, individuals, and the society at large benefits from the policies adopted (Cizek,