laissez-faire

1. The doctrine that the government should not be involved with nor controlling of businesses. The new president has vowed to take a position of laissez-faire to undo the overregulation of businesses practiced by the previous administration.

2. A stance or desire that one will not control or be involved with the actions of other people. It seems to be in vogue recently for parents to be laissez-faire with their children, allowing them total freedom without structure or discipline.

savoir-faire

The ability to act appropriately or handle or respond to any social situation; tact. The phrase is French for "to know how to do." You could learn a lot about how to deal with people by studying the savoir-faire with which she moves around any room.

savoir ˈfaire

(from French, approving) the ability to behave in the appropriate way in certain situations: He was renowned throughout the diplomatic world for his savoir faire.

The meaning of the French phrase is ‘know how to do’.