My Big Fat Revision

Explain the general purpose of legislation from the point of view of a business (4 marks) The purpose of legislation from the point of view of the business helps protect businesses with weaker bargaining power, and also ensures competition is fair, employees are treated fairly, that due attention is paid to the environment, that consumers are considered and that health and safety regulations are met. Legislation essentially instructs how a business environment is ran – in an orderly fashion. Explain two advantages to a business of legislation related to competition (6 marks) One advantage to a business of legislation related to competition is anti-competitive agreements. Law is put in place to prevent, restrict or distort competition. This prevents the agreement of the fixture of selling prices, agreements that limit production, investment, development and agreements that apply different conditions to similar businesses. In this case, legislation is beneficial as it allows for an even ...

Steve Jobs, the founder of Apple, was asked to come back as Chief Executive in 1997 when the business was making a loss. Jobs was appointed to provide a clearer vision for the business and to improve its profitability. How easy is it for a Chief Executive to change a struggling business into a more successful one? Justify your answer with reference to Apple and/or other organisations you know. Steve Jobs is a returning Chief Executive of Apple. Appointed to provide a clearer vision for the business and to improve its profitability, Jobs’ transformation of the struggling business will depend on how struggling it is. It could be struggling in more pressing senses like financial issues which may make change more difficult, or in regards to direction and innovation, a few small changes may solve the problem. Jobs’ would be wise to align values of the business and adopt a leadership style that will see them work through this period of hard times to reach a point of success. How easy it is f...