The Influence Of Law In Business

936 words - 4 pages

The Influence of Law in Business Practice
Intro to Business & Technology
March 23, 2014

The Influence of Law in Business Practice

There are several laws in the United States that are meant to set a standard for fair, balanced, and competitive business practices. These are, by design, a way to ensure that trade- international as well as domestic- is done in a reputable and progressive fashion. There are many aspects that come in to scrutiny in considering whether a business is operating in a way that is fair: one view on this subject I found was related to The Eagle and The Condor Theory. “There is no universally recognized definition of Fair Trade, but its principles and ...view middle of the document...

S.A.” when that isn’t true. The Federal Trade Commission sets a standard for what would qualify a product to be marketed under the pretense that it is made in the U.S.A., which would make purchasing the product more likely based on such a claim. The Federal Trade Commission is also responsible for monitoring claims of false advertising. An example would be when a company advertises an item at a sale price, and then upon going to purchase the item, has a different price marked. We do need protection from things like this to prevent a business from taking advantage of consumers. Without regulation from a commission like the Federal Trade Commission, we would be powerless in the marketplace when we come across situations like these.
The Federal Trade Commission is also responsible for ensuring competitive and fair marketing, so as not to allow a big business to bully smaller companies. This would be similar to a major retail store purchasing the exclusive right to sell a product. That would give to store free reign over what to charge consumers for the product. With the product not available anywhere else, there is no competition among retailers so consumers are forced to pay whatever price is set by the store. Another way businesses are regulated so they are fair is by not allowing price gouging to push a smaller company out of business. Price gouging would be like a company buying such a large quantity of an item that there isn’t a fair amount left for other companies to purchase, and then lowering the price indefinitely to a below-cost rate, making it impossible for any other company to sell any of the item. Things like this make it important to have a commission in place to provide protection against such things. Without protection, smaller businesses couldn’t enter in to or survive in any type of...

Other assignments on The Influence Of Law In Business

The Power Of Influence And Team Work

5372 words - 22 pages THE POWER OF INFLUENCE AND TEAM-WORK IN A MULTI-LEVEL MARKETING ORGANIZATION INTRODUCTION: In the world of business there are many different approaches taken in order to influence the sale. Some businesses take the big box store approach selling and advertising their merchandise through a larger entity such as a Wal-Mart, Home Depot or Best Buy. Some take an exclusive approach selling their merchandise only through exclusive retailors

Analysis Of Competition Law In Kenya

2032 words - 9 pages COMPETITION LAW ASSIGNMENT: Critically examine and analyze the provisions relating to competition law enforcement authorities under the completion act 2010. Look at the weaknesses strengths of the competition law enforcement authorities and make suggestions. HISTORY Before the introduction of the new Competition Act, the Kenyan investment market was unfavorable for competition, as new investors needed financial and political muscle to gain

The Role Of Business Economics In National Development

2924 words - 12 pages self evident, but there is considerable room for governments to facilitate entrepreneurship in a non-interventionist way. A smooth-running market economy is the best way to encourage entrepreneurship, rather than direct support. For instance, the role of government can be to provide business-friendly infrastructure by providing a framework of enforceable competition law that discourage monopolies and unfair competition as well as by intellectual

The Business Of Water

1645 words - 7 pages THE BUSINESS OF WATER CORPORATE GOVERNANCE AND BUSINESS ETHICS CASE STUDY ANALYSIS SUBMITTED BY: PRIYA BHATTER Who are the main stakeholders of beverage companies such as Cocoa Cola and Nestle in this case? How would you prioritize their stake and how legitimate are the different stakes? Consider the following stakeholders for beverage companies such as Nestle and Cocoa Cola in terms of legitimacy and importance of the stakes held

The Evolution Of Business

1390 words - 6 pages The Evolution of Business Jennifer Sterkenburg OMM 640: Business Ethics and Social Responsibility Instructor Whitten September 4, 2013 The Evolution of Business Since the term “business” became a word everyone was familiar with, the purpose and principle behind business ethics and values was created. Even though no one in this day and age can be 100% sure how businesses were created, and how entrepreneurs were able to provide a sense of

Poker In The Business Wolrd

1644 words - 7 pages Is it Ethically Right to use Bluffing in the Business World? Luke Erickson As businesses flourish from record sales of new products and, “upgrades,” the path to profit is becoming more and more questioned regarding their ethical standards. While some businesses look to make the most profit without a worry about deception and trickery, others tend to stick with honesty and sincerity. Every day people are centered on ethical practice

Ethical Issues Arising From The Intersection Of Law, Compliance & Investigations

417 words - 2 pages There are several ethical issues that arise in information security. The security is one of most issue of concern for every business organization. Ethics is a term which is used to distinguish between right or wrong things. Ethical issues in computer security includes cybercrimes, computer hacking and information warfare. In an Internet world, many banking organizations are attacked by attackers and millions of credit card details stolen every

"Importance Of Garments Washing In Retailing Business”

4701 words - 19 pages Assignment On “Importance of Garments Washing in Retailing Business” Faculty of Business & Economics Department of Business Administration Program: MBA (Regular) Semester: Summer-2013 Course Code: TAM 512 Course Title: Finishing & Washing with Lab Submitted To: Sumon Mazumder Assistant Professor M.Engg. (BUET), M.Sc. (Textile) B.Sc. Engg. (Textile, DU) Department of Textile Engineering Submitted By: Sabbir Ahmed

Shimano's Success In The Bicycle Business

2269 words - 10 pages Explain the factors behind Shimano’s success in the bicycle parts market During the history of the company Shimano overcame its challenges by adjusting its strategy to changes in the market while at the same time establishing its core strength - strong focus on technology to create innovative and quality products - establishing a direct line to customers and iterating on its product based on their demands - transferring technology between

What Are The Most Significant Factors That Influence The President In Choosing A Cabinet ?

575 words - 3 pages What are the most significant factors that influence a president in choosing a cabinet? There are many factors that may influence presidents choices when it’s comes to a cabinet and balancing it. Most of these factors are for face value to show to congress and the public what a role model in fairness and leadership the president is. There is only one factor that actually makes logical sense in running a country and not for political gain. This

P2 - Describe The Different Stakeholders Who Influence The Purpose Of Two Contrasting Businesses

650 words - 3 pages P2 - Describe the different stakeholders who influence the purpose of two contrasting businesses. Introduction: In this task I will be going to describe how different stakeholders influence the purpose of Apple and McDonald. What is a stakeholder? A stakeholder is anyone who has a keen interest in that business. Who are the stakeholder in both businesses? The stakeholders in both businesses can be internal or external and this applies to

Similar Documents

Law Of Business Association Essay

1019 words - 5 pages LST2LBA: Law of Business Association Semester 3- 2012 Student’s Name: Wu Tingting Student’s ID: wuttd101 QUESTION 1 Legal Issue: 1. Whether Toan has eligible to bid at this auction 2. At this auction. Toan represent company or individual 3. whether Toan has breach of the government’s policy and laws containing that policy Relevant Rules of Law No matter how many shareholder exist in

Role And Functions Of Business Law

843 words - 4 pages The Role and Functions of Business Law Tanisha Haynes LAW/421 July 18, 2013 Ms. Lindsey Cole The Role and Functions of Business Law When people hear the word law, one will think of the laws in which people have to abide by on a daily basis. There are several different variations to the laws; there are states laws. Each state has their own rules for their citizens to follow. Then there is the Federal law, which governs the government

The Role Of Ethics In Business Evolution

1680 words - 7 pages The Role of Ethics in Business Evolution Reconciling works of Managerial Literature, Business Ethics Writer and Catholic Social Teaching, Domènec Melé argued that a firm should be considered as a wholesome person and suggested the ethical implications of his view (Melé, 2012). The concept that a firm should be regarded as a legal person, and not just a profit seeking entity, was brought forth by the House of Lords in the (Salomon v. A. Salomon

Exploring The Role Of Government Watchdogs In Canada And Its Influence On Society, Economics, And Politics

2551 words - 11 pages Exploring The Role Of Government Watchdogs In Canada And Its Influence On Society, Economics, And Politics Introduction In our increasingly neoliberalized and privatized society, the concept of governance and ethical conduct has been falling from the grips of public dialogue and discussion. Self-regulation has become a “mantra for both governments and private industry in the neoliberal era (Burch et al., 2013, p. 259). Given the onset