Legal and Financial Environment Assignment (GC011725)

Legal and Financial Environment: Assignment framework

Assessment 2: Report discussing how legislation impacts business activity

Table of Contents

1.0 Introduction.

2.0 Analysis and implication of Employment Law/Equality Act

3.0 Consumer protection.

4.0 Protectionism.

5.0 Conclusion.

Reference.

1.0 Introduction

The academic definition of law is a system of administration improved by the government and society over a particular locality. In this definition, I have to come to know that, the law is something that every country and nation needs it. It is very essential all over the world. The legislation defines as a rule which has been proclaimed by a parliament or other ruling body or the method of creating it. An example of legislation is a new realm law that varies textbook needs. According to Jack (2018), Legislation commits a secure performance to worker connections and raises workers’ knowledge of integrity and belief in their workers. Legislation is very important for Business companies like Tesco because Tesco is one of the biggest retailers in the world so it should need secure performances for their market values.

2.0 Analysis and implication of Employment Law/Equality Act

The equality act 2010 means the act of association of the UK with the elementary intention of stringing, improving, supplementing the countless previous Acts and Regulations, that made the base of anti-discrimination law in Great Britain. According to Ross (2018), equality law and its act form a major part of the Employment Law. Employment law means the relationship between the workers and the governance and all the rights of employment. Inequality act the protection is about human rights. All kinds of human rights are including employees rights are added in this act. This is how the equality act forms a major part of the Employment Law. Inequality act 2010 there are nine protected characteristics. These are age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, and sexual orientation. In age, discrimination is very unfair and unfavorable for employees. No one can use different types of behavior according to others’ ages.

Inequality act disables a person is as normal as others. If an employee has some diseases like cancer or HIV infection, he should have the right of working like others. On the other hand, inequality act 2010, employees must not differentiate against staff members if they know they are transsexual. Transsexual has the equal right like others (Joe, 2018). In marriage or civil partnership discrimination, employees are treated differently than others like if a person is divorced or not in a marriage but living together, others acted differently. It means treating the woman differently when they are pregnant. A pregnant woman has equal rights like others. In the workplace, employees are judged by their race, nationality and color. This protection is about reducing these kinds of discrimination (Katte, 2018). The next topic is religion. Different employees have different religions or beliefs. This cannot differ a person from work. The next protection characteristic is a very common problem which is sex discrimination. Man and woman have the same right in all kinds of works. The last protection is about sexual orientation which example is employees get different behavior for their sexual preferences.

A business like Tesco should adhere to these protected characteristics for their employees and business. For example, Tesco manage should put great effort into age, sex, pregnancy, and race discrimination. Most employees have faced these discriminations in every part of their jobs. Tesco managers must be treated their employees equally. They should not behave differently by seeing the employees’ sex, age situations. They should give the rights equally to men and women.

Equality act is very essential for applying in an employment practice like recruiting, selection, promotion and dismissal. Recruiting means the identifying, screening, interviewing of a candidate for jobs. In this section applying the equality act protection characteristics are very important because every man and woman should get equal rights to interview. In the selection of them, these characteristics are more significant because most of the time discrimination has made great problems in selecting the employees for jobs (Tylor, 2019). In business, the owner promotes men rather than deserving women or he promotes a straight person rather than a transsexual. For this, protection characteristics should be applied. Lastly, for dismissal, the owner tries to remove women or black or brown people from his jobs. They must have equal rights like other (Gyler, 2018).

A reasonable adjustment means a change to dismiss or abate performance of a worker’s incapability so they can do their job. For example, an employer gives teaching for workers on leading meetings in a method that qualifies a deaf worker to take part successfully.

3.0 Consumer protection

Consumer protection means the practice of protecting buyers of goods and products, and the general people, in opposite to corrupted practices in the business marketplace. Consumer protection is very important for both marketplace and consumers. According to Martha (2018), it makes the market enable and work for businesses. Consumers often need the exact and proper products they need. This helps to get the consumers what they actually need. Besides, consumer protection gives the right of the consumers to choose their own choices. Nowadays, businesses make so many unfair trades for consumers for their market sales. This protection enables fair products and helps the consumers also the business to achieve their market value. According to consumer protection, there are many criteria that a product or service needs to comply with.

These are consumer education, the guidelines and promotion of the financial interests of consumers, approach of consumers to enough information to qualify them to create aware choices according to personal desires and needs. For example: if the consumer has no education about the product, he will never be understood what are right products and what is wrong. So he needs to be educated about these products. The case scenario is given in the assignment brief. Suppose Alif is a consumer and he needs the best headphones for his gaming. He went to the shop and bought very expensive headphones. After some days, the headphone is not working. This is just because he has no idea about headphones so he bought fake headphones. If he had knowledge about this, he could have bought the real and accurate one.

Three R’s means reduce, reuse and recycle. Jonas (2019) stated that, for compensation and damage, these three R’s are very usable. Compensation means the cost of products that a person is rooted in an issue with products. It is not only economical costs; it can be time cost or other productivity. If a product is damaged, for compensation, the product can recycle and it can reuse by reducing its value and market prices.

Product liability is the law of producers, suppliers, retailers, and many more who provides the products available to everyone are obtained duties for the damages those products purpose. There are three causes of product liabilities (Kites, 2019). Firstly, manufacturing defect means the blemish of forming a product. The second one is design defect which means the blemishes of a product that is designed for the consumers and the third one is Failure to warn which means when the products have danger, the creator has some kind of warning in the product. The importer will be responsible for product liability by making safety in design, keeping important records, managing and imported goods or supplies, etc.

All businesses need to product liability insurance because in many cases, product liability can be seen in businesses. This can be valued in contexts that are wrongful and those that are not wrongful. A business should be careful to hold liable for product liability on negligence and award of damage. A case scenario is given for this. Ross is a manufacturer of ships and he listened the next day that his ships are sink into the water. For this, he should be more careful while manufacturing the ships.

4.0 Protectionism

Protectionism defines a country as regulations or laws that originate it simpler for their personal manufacturers to sell by shaping accessories from other countries more costly or harder to achieve. According to David (2017), the tariff is the tax for imports which is given by the government and quotas mean the quantity limits of goods and services.

Tariffs and quotas are the paths for governments to defend civil companions and enterprises. Lara (2019) stated that these financial trade methods mainly direct to upper values of stuff and some choices or amount of imported stuff for the consumer. Because of upper values, consumers basically can buy less stuff and products. A business like Tesco is affected by tariffs and quotas both positively and negatively. Tesco has name and fame because their business market has a name in different countries. They have a connection with international trades. So that is why Tesco uses tariffs and quotas. But for this, Tesco has raised the value of their products. So, the customers and buyers can buy their products fewer for the higher prices.

5.0 Conclusion

In this essay, the discussion is mainly about many things. Firstly the discussion is about the analysis and implications of the Employment Law/Equality Act. The second is consumer protection and the third is protectionism. Also, there are some case scenarios about the criteria that a product or service needs to comply with according to consumer protection and how the importer will be held liable for damages in product liability.

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