Alternatives Quote by Juanita M. Kreps
“... between government, business, and the public, there is a triangular community of interest. Clearly, it is in business' interest to shape its behavior to prevailing public values; it is more efficient to do so than not to do so. It is also clear that government is the high-cost alternative through which public values are imposed on corporations that do not accurately perceive these values.”
About This Quote
Source Speech: Public Policy Lecture, 1975
Businesses align with public values to avoid costly government regulation, creating a three‑way relationship among government, firms, and citizens.
In simple terms: Companies follow public values to dodge regulation.
Key Takeaway
Align with public values early.
Themes
business
government
public interest
regulation
strategy
Mood
analytical
critical
strategic
Type
advisory
analytical
When to use this quote
- product development
- marketing campaigns
- corporate governance
- policy advocacy
Key Concepts
Corporate social responsibility
public choice theory
regulatory economics
Questions to Reflect On
- How can firms accurately gauge public values?
- What mechanisms ensure government actions stay cost‑effective?
A Different Perspective
If public values are unclear, firms may misinterpret and still face penalties.
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