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2.5.2 Legislation - Coggle Diagram
2.5.2 Legislation
Employee protection
aims to state and uphold minimum standards of treatment that employees can expect from their employer
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increased right to sick, maternity and paternity leave
increased costs of paying cover for this staff, but staff may feel more valued as they feel well treated by employers: reducing staff turnover levels - saves costs of recruiting new staff
Redundancy
reducing capacity becomes expensive due to statutory payments to staff who are made redundant - this can mean that closing a factory/office have a negative impact on cash flow in the short term
Trade union rights
employers can be forced to deal with a trade union if enough staff are members; this does bring benefits as well as drawbacks
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Consumer protection law
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driving force behind the consumer protection legislation is to ensure that no business can gain an unfair advantage over its rivals through misleading words. Competition should be based on the product and price at which it is sold, not claims that bend the truth.
two major acts of parliament covering consumer protection law are: the Sale of Goods Act and the Trade Description Act
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