Question

Find an example of business regulation's impact on a business. It could be an example with the company you studied for your Minnesota Company project. It could be an example of something you read about in the media. It could relate to a specific company, or it could relate to a particular industry.

Answer 1

ANS :With the recent boom in business ethics comes a curious irony: the more entrenched the discipline becomes in business schools, the more bewildering—and even off-putting—it appears to actual managers.

Governments impose different rules and regulations on businesses and some of these rules and regulations apply to both small and big businesses. As a business owner, it is very important for you to understand business law and the regulations that affect your type of business.It is also important to know that the government can change the rules and regulations concerning businesses from time to time. Therefore, to be on the good side of the law, ensure that you are up to date with your government laws.

Change in business laws means changes in the way businesses operate. Taxation policy is one the government policies that affect businesses directly because taxation is based on the amount of money earned by all businesses. For example, increase in corporation taxes which focus on the businesses profits has an effect similar to increase in costs. VAT (value added tax) is also a tax policy that will affect the bottom line,although in most governments VAT, is a cost on the consumer and not the business owner.

Business laws affect employer to employee relationships and vice-versa. For instance, it is mandatory for employers to follow government regulations regarding the way they treat their employees and their hiring mechanism. • When it comes to international trade, business laws are imposed in regards to international trade tariffs. Such rules and regulations are strict on the kind of products going in and out internationally. The international trade rules and regulations also enforce guidelines on the parties that should take part in international trade. • Lastly, governments impose business rules and regulations to ensure that all businesses are run in line with codes of ethics, good health and safety of the consumers.