Political-Legal Environment Affecting the Economy of an Industry

Topics: Law, South Korea, Administrative law Pages: 2 (675 words) Published: April 21, 2013
Political- legal environment is one of the economic environment that its development has strongly impacts on the marketing decisions of the company. The political environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. Each factors of political environment has its own functions and impacts on the economic activities of the industry. The economic systems work best with at least some regulation. When an industry with well-conceived regulation, it can have more opportunities in competition and ensure fair market for goods and services. The public policy is a set of laws and regulations that the government makes to guide commercial or to limit business for the good of society as a whole. Almost marketing activites requires a wide range of laws and regulations to stable the system and help to make true marketing decisions.

Legislation affect business around the world and it has increased steadily over the years such as local-content laws, import restrictions, tax controls, price controls, labor problems. .etc…China is one of the Samsung market and it has many laws relates to some issues such as custom import and trading, foreign investment, information technology, pricing and etc…. to regulate the activites or the development of Samsung electronics industry in China, for example: Provisional Regulations on Trade Administration of Technology Introduction and Equipment Importation 1- 1996, Implementation Rules on Small-Volume Frontier Trade of Importing Machinery and Electronic Products, Notice on Policies for Reform and Adjustment of Import Tax , Regulation on Administration of Organizations in Charge of Import or Machinery and Electronic Products in Localities and Departments at the Central Level…etc… and through those laws, Samsung enterprises located in China must comply with all the articles of Chinese laws and all the regulations that they sign together. The...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • The Legal, Political/Trade Environment Essay
  • Essay about Political Environment
  • Spain Political-Legal Environment Essay
  • Blockbuster's Political/Legal Environment Essay
  • Legal and Political Environment Essay
  • 6 Political Economy Essay
  • Political Economy Essay
  • Essay about Political & Legal

Become a StudyMode Member

Sign Up - It's Free