BTEC Business Unit 1 P6

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P6 For this assignment, I will be describing how political, legal and social factors are impacting upon the business activities of Wal-Mart and Tfl. For businesses, this is important because they need to know how these change such as political decisions made by the government or changes to the law or changes that take place in society over time is going to affect their business. Political Factors Political factors is an external environment in which a business functions. This is a type of external constraint for a business and are related to actions of governments. This factors can affect how the business operates. Political factors include politicians, who make important decisions. These can be done at national level at the UK…show more content…
Practitioners of most services can operate in all member countries. The cost of airfares, the internet and phone calls have fallen dramatically. By being the EU it affects Wal-Mart because as Wal-Mart is an international company it is easier to operate in the EU because the regulations are same and taxes are similar. Also the EU sets regional policies, so if a country in the EU is struggling and need help the EU will help. This affects Wal-Mart because their investment will be safer because the EU will not let the country collapse. For Tfl, being in the EU helps because as Tfl provides a transport service it needs to import the goods to improve the infrastructure of the London and being in the EU it is easier and with less paperwork to get the goods. Another political factor which affects a business is the enhancing of the skills of the working population. This means the education of the youngster of the UK, the training of the working population and research. The government can affect this by the spending it does on the education system and apprenticeships. This affects Wal-Mart because as the UK economy recovery there is an increase in the demand of skilled workers. Wal-Mart needs skill workers for the finance, Management and etc. so with the skilled workers the business can expand. For Tfl, it needs skilled worker because as Tfl provides a transport service it needs engineers how there is a shortage as 88% of employers report not being able to

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