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analysing the external environment: political and legal change…
analysing the external environment: political and legal change
encouraging enterprise
benefits the economy
increased productivity
creates jobs
the business enterprise policy
schemes to loan at low rates of interest
enterprise finance garentee
investment schemes that offer low tax incentive
create jobs
special initiatives for young entreprenuers
eu enterprise policies
similar to the UK- encourage small and medium sized businesses
creating jobs and encouraging countries to work together
the political environment
encouraging enterprise
regulation of markets
country's infrastructure
environmental issues
international trade
regulators operate in a number of UK markets
example of regulators
water utilities (OFWAT)
telecoms and broadcasting (OFCOM)
banking and financial service (FCA)
general energy markets (OFGEM)
the main aims of regualtors
create free and fair competition
regulate high profile industries
regulation of private businesses to project consumer against monopolies
help with self regulation of businesses
impact of regulation of the UK business
can be a threat to UK businesses
control and limit their ability to charge high prices
impact profits
negative publicity by imposing fines
more strict in certain industries
makes competition fair
allows a level playing field
county's infrastrucure
allows businesses to be more productive
raw materials and goods easier to move about the UK
create jobs
public sector manages infrastrucuture
international trade
bring many benefits to the UK in jobs and finance
initiative to encourage businesses to trade internationally run by the UKTI
organising trade fairs
financial support to exporting UK companies
works with international government to promote trade
issues with int'l trade
access to cheap labour
companies no longer making products in the UK and taking over UK companies
the legal envornment
main roles of business legislation
regulate rates and duties of people carrying out a business
protect the consumer
fair treatment of employees
protection of investors/ creditors
no unfair competition
three main areas of legislation
labour
competition
environment
labour market legislation
individual labour laws
minimum wage
working time regulations
employment equalitity
equalities act
collective labour laws
employment act
trade unions
trade union reform and employment acts
employee regulations
health and safety
competition legislation
the competition acts
the enterprise act
the enterprise and reform act
environmental legislation
the environmental protection act
the environmental act
plus many EU laws on cimate change