London, United Kingdom

Public Procurement Regulation

Master's
Language: EnglishStudies in English
Qualification: MA
Studies online Studies online
Master of Arts (MA)
University website: www.kcl.ac.uk
Procurement
Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process. The process is used to ensure the buyer receives goods, services or works at the best possible price, when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risk, such as exposure to fraud and collusion.
Public
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the Öffentlichkeit or public sphere. The concept of a public has also been defined in political science, psychology, marketing, and advertising. In public relations and communication science, it is one of the more ambiguous concepts in the field. Although it has definitions in the theory of the field that have been formulated from the early 20th century onwards, it has suffered in more recent years from being blurred, as a result of conflation of the idea of a public with the notions of audience, market segment, community, constituency, and stakeholder.
Regulation
Regulation is an abstract concept of management of complex systems according to a set of rules and trends. In systems theory, these types of rules exist in various fields of biology and society, but the term has slightly different meanings according to context. For example:
Regulation
It is hardly lack of due process for the Government to regulate that which it subsidizes.
Robert H. Jackson, Wickard v. Filburn, 317 U.S. 131, 131 (1943).
Regulation
The general rule, at least, is that while property may be regulated to a certain extent, if regulation goes too far it will be recognized as a taking.
Oliver Wendell Holmes, Jr., Pennsylvania Coal Company v. H. J. Mahon, 260 U.S. 415, 415 (1922).
Regulation
With anti-trust laws, as with regulatory commissions, a sharp distinction must be made between their original rationales and what they actually do. The basic rationale for anti-trust laws is to prevent monopoly and other conditions which allow prices to rise above where they would be in a free and competitive marketplace. In practice, most of the famous anti-trust cases in the United States have involved some business that charged lower prices than its competitors. Often it has been complaints from these competitors which caused the government to act.
Thomas Sowell, Basic Economics (2010), Ch. 7. Big Business and Government
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