Legal Factors
Legal factors Legal factors are those that impact businesses in a legal way. The legal factors would be ranked and analysed. They include: providing a framework for businesses, consumer protection and employment law, ensuring fair and honest trading.
PROVIDING FRAMEWORK FOR BUSINESSES This law is very important because it gives businesses legal protection and also gives them some degree of certainty as to what the business has to gain and loss in extreme cases such as business bankruptcy. Coca-Cola is a big business that is really in need of this legal support or else its shareholders or owners would not benefit from anything.
PROTECTING CONSUMER AND EMPLOYEE LAWS This is very important to these two businesses because without the consumer and employee laws, lots of things would go wrong. They state things like: for consumers, the goods should be of satisfactory quality and for employees minimum wage rates etc. all these are very important to Coca-Cola and Oxfam because they deal with the needs of customers. And if anything was to go wrong, like customers being killed by Coca-Cola s products, they business might be sued there by slowing the businesses progress. For Oxfam, they need to pay their workers within the minimum wage rate. If they pay workers below 17 the same amount as those above 18, they are going against the law. This point is very important to businesses because if they are not carried out, most times the businesses either closes down or risk being sued.
ENSURING FAIR TRADE (COMPETITION) This law doesn’t really affect Oxfam directly as it might Coca-Cola. It is very important to this business because its saves them from things like monopoly and competition. Without these law in place to guard this business, the brand name of Coca-Cola might be used by other companies does reducing the sales and confusing the consumers as well.
SOCIAL FACTORS
Social factors are those that take place in society which are relevant for
PROVIDING FRAMEWORK FOR BUSINESSES This law is very important because it gives businesses legal protection and also gives them some degree of certainty as to what the business has to gain and loss in extreme cases such as business bankruptcy. Coca-Cola is a big business that is really in need of this legal support or else its shareholders or owners would not benefit from anything.
PROTECTING CONSUMER AND EMPLOYEE LAWS This is very important to these two businesses because without the consumer and employee laws, lots of things would go wrong. They state things like: for consumers, the goods should be of satisfactory quality and for employees minimum wage rates etc. all these are very important to Coca-Cola and Oxfam because they deal with the needs of customers. And if anything was to go wrong, like customers being killed by Coca-Cola s products, they business might be sued there by slowing the businesses progress. For Oxfam, they need to pay their workers within the minimum wage rate. If they pay workers below 17 the same amount as those above 18, they are going against the law. This point is very important to businesses because if they are not carried out, most times the businesses either closes down or risk being sued.
ENSURING FAIR TRADE (COMPETITION) This law doesn’t really affect Oxfam directly as it might Coca-Cola. It is very important to this business because its saves them from things like monopoly and competition. Without these law in place to guard this business, the brand name of Coca-Cola might be used by other companies does reducing the sales and confusing the consumers as well.
SOCIAL FACTORS
Social factors are those that take place in society which are relevant for