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What elements does the political/legal environment comprise of?

      

What elements does the political/legal environment comprise of?

  

Answers


Lellah
a) Political system such as political ideology of the current political party system, nationalism, political stability and permanency of government policies and international relations. Political activities affect decisions at local, regional, national and even international levels through the cabinet, parliament and local governments and commitment .Political climate i.e. hostile, sensitive on issues or favorable.
b) Legislation (or laws and regulations)- Business operate within the legal framework of both national and local governments derived from judicial decisions of the court systems and statutory enactments .Business must exist in and operate with in accordance with the laws of society within they do business such as general of constant laws of contract and commerce labour laws and regulations governing product standards ands safety manufacturing processes, pollution controls, copyright and patent, formation, competition and business ethics . The purpose of such legal mechanisms is to protect companies from unfair business practices (such as false advertising, poor product packaging, cut ? throat price practices) protection of larger national interests of society against unhealthy business practices and behavior .
c) Judicial system as regards to procedures adopted by the courts in the administration of justice and the enforcement of laws and regulation.
d) Regulatory bodies with statutory powers delegated to them from the central government such as environmental protection agency, food and during administration agency, energy regulation agency, motor vehicle and licensing boards etc.
e) National pressure and lobby groups such as Trade Associations, trade unions, consumer rights groups etc. for instance, Trade Associations and Trade Unions have codes of practice which business must adhere to such groups also have influence on policy decisions of the government and other regulatory agencies.

Lellah answered the question on November 3, 2021 at 12:08


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