U2 Influences on Business

• What are the main 3 laws of business legislation?

  Employment Law

  Consumer Law

  Intellectual Property
• What are some legal responsibilities a business has to its employees?

  Minimum Wage

  Equality Laws

  Health and Safety Laws

  Working Time Directive

  Contract of Employment

  Provide a Pension

  Unfair Dismissal

  Right to Time Off
• What are the Effects of Minimum Wage on Employers?

  UK is less attractive for foreign companies

  Biggest cost rise is for smaller companies

  Wage differentials
• What are the legal responsibilities a business has to its customers?

  Ensure customer environment is safe

  Accurate weights and measures

  Condition of goods

  Accurate description of good/service

  Redress for customers
• What are some examples of intellectual property?

  Brand Names

  Inventions

  Books, Paintings, Music

  Product Design
• What are the reasons for increase in globalisation?

  Political Changes

  Increase in Volume of International Trade

  Lowering of Transportation Costs

  Growth of Multinational Companies

  Improved Communication Systems

  Increased Movement of People Across the Globe
• What are the benefits of being in the EU?

  Free Movement of Goods

  Free Movement of People

  EU Law
• What are some ways in which a business can operate ethically?

  Using fair trade goods

  Less packaging

  Animal welfare

  Using biodegradable/recyclable packaging

  Reducing Waste

  Reducing carbon footprint

  Treatment of workers
• What are the advantages of operating ethically?

  Improved worker morale

  Improves brand image

  More likely to be recommended by consumer

  Avoids unwanted attention by pressure groups

  Premium prices

  Matches beliefs of owners
• What are the disadvantages of operating ethically?

  Cost

  May not be sustainable

  Staff issues - Training, supervision

  Price of fair trade goods

  Packaging issues