Legal factor affecting business
Legal factors affecting business
When business companies operate, they expect to face different internal and external factors that can affect their organizational operativity. Among all these factors, legal ones might greatly influence business organizations and affect how a different companies operate. There are several legal factors that affect businesses in many forms, including laws and regulations on taxation, employment, contract, securities, immigration and many more. The law affects the way businesses operate. That is the reason why any business should have a clear understanding and knowledge of the legal environment in which business organizations have function because these factors may determine its success or failure.
DEFINE IN DETAIL.
What is Organizational Law? Business organization law refers to the numerous ways a business may be legally formed under state laws, these are the rules that every organization have to follow in order to be in line with the rules.
What does Employment Law refer to? Area of law that governs the employer-employee relationship, and this area exists to protect workers’ rights.
How are Consumer laws defined? It involves all of the regulations and statutes that seek to create a more equitable balance for buyers in the marketplace; avoiding dishonest tactics that could affect the consumers.
What is Securities Law? Is the group of laws and regulations that govern the issuance of securities. A security is a financial instrument usually designed to raise money for a business from investors in the business.
What does Health and Safety at the Workplace refer to? Workplace health and safety is about promoting positive wellbeing, in terms of their comfort, happiness and contentment, not simply preventing people from getting ill and having accidents.
What is Taxation? Imposition of compulsory levies on individuals or entities by governments. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well.
Really important Molly, when it comes to a company maintaining their work environment safe and healthy it is not only about preventing them from dying or getting sick, i agree with you that a firm must also care about the employee‘s mental health and overall well being regarding to their benefits and insurance to give them the feeling of comfort and wellbeing inside the organization. Excellent work :)
ResponderBorrarHello Molly, your answers are very simple and easy to understand, I feel like maybe you needed to go in depth and explain a little more. On contrary, I really liked how you defined taxation, It a simple definition that anyone can understand. Great job!
ResponderBorrarSimple but concise, I really liked the way you wrote down you ideas. Keep it up!!!
ResponderBorrarAs my classmates have said, your work has been summarized in a positive way, it made me understand the concepts quickly, what was the law that caught your attention the most?
ResponderBorrarIn my case, it was the consumer's law, because with it we can support our purchases. I would like you to comment a little more about the worker's laws, according to my research, these laws are very complete and detailed. Thank you very much for sharing!