📚 Seth MB


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Last updated Sep 12, 2023 Edit







# Political/Legal

# Main roles of business legislation

# Labour Market

# Employment Rights

  1. National Living Wage for 23 and over: £10.42/h. At 25, you become eligible for the National Living Wage instead of the National Minimum Wage.
  2. The Equality Act of 2010’s main areas are: (protection from discrimination based on): sexual orientation, age, disability, non-equal pay, race.
  3. The employment Act of 2008 aimed to reform existing laws and protect the rights of workers by more strictly enforcing basic rights such as minimum wage.
  4. The Small Business, Enterprise and Employment Bill 2015 pushes additional liabilities onto company directors as well as ensuring that public sector procurement is effective and efficient. (Makes it easier for smaller business to receive public sector contracts)

# Pay - Right to Equality

Regardless of gender, age, religion or any protected characteristic, people are entitled to equal pay for work of equal value.

# Industrial Relations

# Task

  1. Explain the general purpose of legislation from the point of view of a business.
  1. Explain two advantages of business legislation in relation to competition.
  1. Using an example, explain how legislation related to the labour market might affect strategic or functional decision-making in a business.
  1. Explain two advantages to a business of legislation related to the labour market.

# Competition

# Aims of competition policy

# Main elements of competition policy

# Regulatory Authorities

# What regulators actually do

# Price Fixing

# Dominant Position

# Abuses of a dominant position

Whilst in a dominant position, you may not: