Businesses in general need to take into account that there are a number of constraints that may impact on the implementation of their business plan. Business law exists to ensure that firms can engage in lawful activity without impediment, and to restrain unlawful activity by that or any other firm.
Constraints that impact on the implementation of a business plan are categorised into six areas. These are:
I will now evaluate these constraints and discuss how, and in what ways, they may impact on the successful implementation of a business plan.
Legal changes are happening on a daily basis, and as a result, can have a large influence on what is happening within the business environment.
Health and safety legislative changes may increase costs, or force working practices to change. This is particularly important when considering new businesses, such as companies trading online.
Legal legislation changes may increase the cost of working practice to changes. This is particularly important when considering a new business venture, such as diversifying into the internet market. Changes to minimum wage, the standard working week and employee contracts need also to be taken into consideration.
Thus, there are many legally binding constraints that the business has to take into consideration when implementing their respective business plans. I will now list the main business laws and other legal constraints that a business has to think about, as well as saying what they are and how they impact the implementation process.
Changes to the minimum wage paid per hour or maximum working week permitted also need to be considered. Relevant legislation should be taken into account, and these are described in detail below.
Consumer Protection Law.
In the past, the relationship between business and the... [continues]
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