(1) External Regulation
(a) Environmental law
One of Environment Protection Act clauses states that “to prevent environmental degradation and adverse risks to human health and the health of ecosystems by promoting pollution prevention, clean production technology, reuse and recycling of materials and waste minimization programs.” It means Harvey Norman have to take environmental factors into consideration during its operation, to be more explicit, Harvey Norman have to comply with specific regulatory requirements relating to environmental sustainability, along with the promotion of environmentally sounds practices to its employees, associates and clients as a material objective.
So as to meet the standards of environmental requirements, Harvey Norman have to ensure its business activities in conformance with current environmental legislation; keep waste and energy consumption to minimum; demonstrate an on-going commitment to doing so among its partners, suppliers and contractors. (b) Competition and consumer law
In order to maintain the competitive advantage in the market, Harvey Norman has to comply with completion and consumer law in all business dealings. The Australian Consumer Law provides consumers with rights to certain remedies from retailers and manufacturers when goods fail to comply with the consumer guarantee provisions, including that goods are of acceptable quality and fit for the purpose for which they were sold. To be more specific, Trade Practices Act has these clause:(a)prohibits any form of anti-competitive conduct, such as price fixing, resale price maintenance and misuse of market power and (b)protect consumer by prohibiting misleading conduct and establishing standards for goods and services. If Harvey Norman fails to satisfy...