There are many factors which impact on how well or bad a business is doing, however there are three main factors which have impact on a business and they are:
· Political Factors
· Legal Factors
· Social Factors
In this assignment I am going to carry out a research into how political, legal and social factors impact on Subway in the UK and Meikles hotel in Zimbabwe.
Political factors are activities related to government policy and its administrative practices that can have an effect on something. Most business operators will keep a watchful eye on any political factor, such as new legislation or regulatory shifts, which could have a substantial impact on how their company operates and its bottom line. Politicians make important decisions, the UK by the political party that secures the most Members of Parliament in a general election. The ruling party is led by the Prime Minister who appoints the Cabinet of senior Ministers in charge of key areas of government. The UK is part of the European Union which means that it can make political decisions and rules that the UK must follow. There is also free movement of goods, services and people between the countries who are members of it.
Legal factors are the factors that emerge from the application of law in a particular sector such as business. Some of these factors may include: accessibility law, freedom of information, data protection, employment law and copyright among many others. Businesses must operate within the framework of the law. Failure to do so can lead to fines and even imprisonment of directors. Businesses therefore give high priority to making sure they comply with the law. There are three main laws that affect businesses and they are:
· Company Law
· Contract Law
· Competition Law
Subway is an American fast food restaurant franchise that primarily sells submarine sandwiches (subs) and salads. It is owned and operated by Doctor's...