institutional influences

• institutional influences

  
• Governments Influence on Business:

  → The federal government is in charge of the provision of employee superannuation (retirement saving)

  → The state government ensures businesses abide by relevant state legislations (eg: health, employment, trade practices)

  → The local government affects a business’s building. They approve new development and alterations (to an existing building)
• → Regulatory Agency: NSW Environmental Protection Authority (EPA) can affect a business as it's the primary environmental regulator for NSW. It aims to improve environmental performance and waste management through programs and initiatives 
• → Another Institutional Influence: Australian Securities Exchange

  → Operates a sharemarket where companies can raise funds by issuing shares in it

  → A business lists itself with the ASE to become a public company (the main reason for this is to raise extra capital (usually for expansion or development)