Constraints of a Business Plan Essay
Businesses in general need to take into account that there are a number of constraints that may impact on the implementation of their business plan. Business law exists to ensure that firms can engage in lawful activity without impediment, and to restrain unlawful activity by that or any other firm.
Constraints that impact on the implementation of a business plan are categorised into six areas. These are:
I will now evaluate these constraints and discuss how, and in what ways, they may impact on the successful implementation of a business plan. Legal Constraints.
Legal changes are happening on …show more content…
Data Protection Act 1998.
The Data Protection Act is a legal basis for the handling in the UK of information relating to living people. It is the main piece of legislation that governs protection of personal data in the UK. Although the Act does not mention privacy, in practice it provides a way in which individuals can enforce the control of information about them. Most of the Act does not apply to domestic use, for example keeping a personal address book.
Compliance with the Act is overseen by an independent government authority, the Office of the Information Commissioner. The UK Data Protection Act is a large Act, and has a reputation for complexity. Whilst the basic principles are honoured for protecting privacy, interpreting the act is not always simple. Many companies, organisations and individuals seem very unsure of the aims, content and principles of the DPA. Some hide behind the Act and refuse to provide even very basic, publicly available material quoting the Act as a restriction
Consumer Credit Act 1974.
The Consumer Credit Act 1974 is a consumer protection law in the UK. It requires certain businesses to obtain Consumer credit licenses and protects individuals receiving credit up to £25,000. Appeals under the Consumer Credit Act are made to the Office of Fair Trading.
Cancelable agreements have a cooling-off period