Regulation and cooperation policies are essential in the business world because they help keep the businesses in check by setting quality standards and contributing to managing risk exposure. However, they can be problematic on a global scale, especially in an emerging market. There is the uncertainty of regulation and cooperation of emerging markets. Business people interpret the regulation and cooperation compliances differently from all over the world, causing a lack of uniformity in the standards provided. Economic inequality is also a significant problem of regulation and cooperation. Some countries have an advanced economy, which comes with adequate resources, while other countries are of low economy, with limited resources. Creating standard regulation and cooperation policies to be followed by every nation puts the low economy countries at a disadvantage. They may not have the resources needed to achieve global standards. Businesses that deal with products and manufacturing are the most affected by this inequality.
These problems can be solved by disseminating correct and precise information on the regulation and cooperation policies through multi-level training. These policies should be simple enough and straight forward for all the businesses globally to understand, and this ensures uniformity. Technological innovations in low economy countries will help to tackle the problem of inequality. This will elevate the countries and level the business playing field.
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Developing realistic and attainable regulation and cooperation policies can also be a solution. This strategy will ensure the businesses are able to achieve the set standards while still producing high-quality products for customer satisfaction. These are the solutions I propose to the necessary authority and body to follow in developing strategies to tackle the regulation and cooperation problems and ensure business people's growth and comfort globally.
