Task 5
In the wider world there are many factors which determine change and growth for many businesses. In order for many businesses to monitor the change in their environment they use a PESTEL analysis, this analysis shows the business how they should and can cater themselves to suit the climate more effectively in order to make the most profit available and most importantly: so they can survive in the market.
The influences of the main 5 factors determine whether the businesses survive in the market or not are:
• Political factors, this factor relates to changes that happen in the government, changes can include the businesses being introduced to new legislation such as the rise in the minimum wage, VAT, Cooperation taxes and tax rate. …show more content…
Thought this legislation, the main employment laws that the business need to consider are that; every applicant the business employs- they must make sure that they are safe on the premises and are able to use the machinery provided with limited chances of injury. This factor can impact the businesses and the activities they run- as in the case of injury they will have to remove the injury causing specimen, if it was due to the machinery but if the company is at fault they can have law suits put against them by the injured employee. To avoid and prevent the chances of injuries: the firm should brief their employees upon their arrival and inform them about their health and safety-consequently in the long term the businesses are reducing the cost of compensation that they might have to pay for an injured …show more content…
In the manufacturing industry different machinery is used for the productions of products. Thus the companies – to prevent injuries have to carry out risk assessments, keep up with the maintenance of the large amount of machinery and briefing their employees on how to handle the specimens in an orderly and safe manner. If the companies fail to look after the health and safety of their employees, they can face many lawsuits and legal obligations put upon them; this causes bad publicity for the multinational manufacturers thus causing many applicants and future contractors to withdraw their contracts and employment from them. Another possibility is that the businesses are force to close down fully due to the job activities not being safe for any of their employees to carry out – this can conclude to the loss of capital of the investors, owners and their
In the wider world there are many factors which determine change and growth for many businesses. In order for many businesses to monitor the change in their environment they use a PESTEL analysis, this analysis shows the business how they should and can cater themselves to suit the climate more effectively in order to make the most profit available and most importantly: so they can survive in the market.
The influences of the main 5 factors determine whether the businesses survive in the market or not are:
• Political factors, this factor relates to changes that happen in the government, changes can include the businesses being introduced to new legislation such as the rise in the minimum wage, VAT, Cooperation taxes and tax rate. …show more content…
Thought this legislation, the main employment laws that the business need to consider are that; every applicant the business employs- they must make sure that they are safe on the premises and are able to use the machinery provided with limited chances of injury. This factor can impact the businesses and the activities they run- as in the case of injury they will have to remove the injury causing specimen, if it was due to the machinery but if the company is at fault they can have law suits put against them by the injured employee. To avoid and prevent the chances of injuries: the firm should brief their employees upon their arrival and inform them about their health and safety-consequently in the long term the businesses are reducing the cost of compensation that they might have to pay for an injured …show more content…
In the manufacturing industry different machinery is used for the productions of products. Thus the companies – to prevent injuries have to carry out risk assessments, keep up with the maintenance of the large amount of machinery and briefing their employees on how to handle the specimens in an orderly and safe manner. If the companies fail to look after the health and safety of their employees, they can face many lawsuits and legal obligations put upon them; this causes bad publicity for the multinational manufacturers thus causing many applicants and future contractors to withdraw their contracts and employment from them. Another possibility is that the businesses are force to close down fully due to the job activities not being safe for any of their employees to carry out – this can conclude to the loss of capital of the investors, owners and their