Changes to legislation (laws) can have a positive or negative impact on businesses.
Remember for the exam:
Employment Legislation
Employment legislation governs the relationship between employers and employees, outlining rights, responsibilities, and working conditions.
- Employment Rights Act 1996: This law ensures that employees have basic rights and protections, including fair dismissal procedures and redundancy entitlements. Businesses must adhere to fair dismissal practices, potentially impacting staffing decisions and the handling of employee disputes.
- Working Time Regulations 1998: This legislation sets limits on working hours, rest breaks, and holiday entitlements for employees. Businesses need to manage work schedules, Overtime pay, and employee well-being to comply with these regulations.
Anti-Discrimination Legislation
Anti-discrimination legislation prohibits discrimination based on protected characteristics, promoting equality and diversity in the workplace.
- Equality Act 2010: This law safeguards individuals against discrimination based on age, disability, gender reassignment, marriage, pregnancy, race, religion, gender, and sexual orientation. Businesses must promote an inclusive work environment, ensuring fair treatment and opportunities for all employees.
Health and Safety Legislation
Health and Safety legislation mandates businesses to ensure the well-being and safety of employees, customers, and visitors.
- Health and Safety at Work Act 1974 set out the responsibilities that businesses have towards employees and other members of the public to safeguard their physical health and mental well-being.
Advertising Legislation
Advertising legislation governs the content and delivery of promotional materials to protect Consumers from misleading or harmful advertising.
- Consumer Protection from Unfair Trading Regulations 2008: This law prohibits unfair and misleading advertising practices, ensuring that consumers receive accurate and truthful information. Businesses must maintain transparency and accuracy in their advertising efforts, building consumer trust and loyalty.
- Trade Descriptions Act 1968 states that businesses must provide an accurate description of their goods and prohibits false trade descriptions and ensures that goods perform as they should.
Data Protection Legislation
Data Protection legislation regulates the collection, storage, and use of personal data, safeguarding individuals’ privacy.
- General Dara Protection Regulation (GDPR) 2018 restricts how customer and employee information must be collected, stored, deleted and shared. The purpose is to protect personal information by preventing businesses from collecting information they have no need for and preventing them from keeping it for longer than they need. Businesses must implement robust data protection practices, impacting data management, customer communication, and IT systems.
Overall Impact on Stakeholders
- Employees: Legislative protections ensure fair treatment, safe working conditions, and equal opportunities for employees.
- Customers: Legislation promotes consumer rights, ensuring fair pricing, accurate information, and safe products/services.
- Business Owners: Navigating legislative requirements is essential for avoiding legal risks, maintaining a positive reputation, and building long-term business sustainability.
