P5: Explain the Characteristics of the Local Business Environment

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  • Topic: Law, Consumer protection, Minimum wage
  • Pages : 5 (1277 words )
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  • Published : September 25, 2012
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P5: Explain the characteristics of the local business environment

In this task, I have been asking explain the characteristic of local business environment. I will relate it into the following

* Markets
* Sector and industry changes
* Economic trends
* Legal Framework

* Markets

* Sector and industry changes

* Economic Trends

* Legal Framework
The legal frameworks are all laws and regulation that are made by the government; those laws are made to be respected. The purposes of these laws are to ensure everyone is respected and protected, environment where people live are clean and secured, and others many reasons. If laws are not respected, everyone will do whatever they want so this will be big problems between. In business environment, they also have their legal framework; if those legal frameworks are not respected business will have to pay a fine or be prosecuted. I will now explain certain legal framework;

* Health and Safety
Healthy and safety are all laws that protect peoples in workplace against any health problem or insecurity. All business must respect this law (they have to put safety indication (fire exit), teach employees about health and safety or protective equipment’s), for example on construction; they are required to have helmets .Those laws affect business positively as it is for their own security and health that those laws are set. * Employment

Employments laws are all laws concerning condition and regulations of employees in their workplace. Those laws are made to be respected by business responsables. Examples of those laws are pay act, discrimination act, equality act, working hours act, The National Minimum Wage Act, flexible works, employments acts and many others regulations. Businesses risk severe punishments if they don’t respect those laws. Those laws affect business positively and negatively at the same times; positively because those laws allow a good environment in the business (people will want to work harder) and negatively because; business responsable can have money problem but they will have to respected The National Minimum Wage Act, they have to respect employment working hours even if there is many works to do, they also have to respect employees holiday and rest and sometimes they have to pay holidays. * Information

Information laws are laws that protect personal information or personal creation (movies, music). For example, when someone applied for a job or a college, all his information must be kept secret or deleted when job holders leaves. Examples of laws that protect information are; Data Protection Act, Copyright Act, Computer Misuse Act and others many others acts. If businesses don’t respect those laws they can be prosecuted or fined.

* Consumer Protection
Consumer protection are laws that protect customers, those laws protect customers when they buy something and when business provide them services. Consumer protection laws insure that consumers are protecting against poor quality goods and services. This means that when a business sells their goods or services there should nothing wrong with it, protects consumer against unfit food and drink that contains any harmful and other dangerous drugs, protect people from raw ingredients to finished products, the law ensures that foods have the quality that the customer want and many others regulations. Consumer protection allowed customers to ask for refund, replacement or reparation when services or goods are not correct. Examples of consumer protection act are Food Safety Act, Food and Drugs Act, Sales of Goods Act and many others acts. Positive effect of this law is that it protects customers against dangerous food. This law is negative for businesses because when they don’t respect consumers laws they will have to refund customers and business can also be prosecuted or fined for not respecting those laws.

The legal...
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