-
Essay / What is the impact of political, legal and social factors...
P6 describe the impact of political, legal and social factors on the business activities of the selected organizations and their stakeholders. M3 analyze how political, legal and social factors have impacted the two opposing organizations.Part ATaxationBusinesses must pay corporation tax on their taxable profits. This is why corporate tax depends on the profit made by the company. Every individual or organization must pay taxes based on their income. These taxes are income tax. National insurance is a system of contributions set up by the government. Each individual, provided they meet certain criteria, must pay a certain amount, depending on the amount of their income. National Insurance may offer some benefits, including the State Pension. The national insurance rate depends mainly on income. VAT describes the rate at which goods and services are sold within a territory. The current standard VAT is 17.5%. Customs duties are a payment for transporting goods from a country. border to another. These obstacles are removed for certain regions due to the formation of political groupings, trade blocs. These allow the flow of goods, money and sometimes workers to cross national borders. However, some regions of the world cannot be crossed without paying customs duties set by the government entering them. Infrastructure provision Roads are means of transportation between two or more places. Roads can be used by both individuals and organizations. Road transport can be easy because short distances can be circumvented quickly and inexpensively. On the other hand, long distances take a lot of time with e.g. vans or trucks because traffic jams in the streets can occur and b...... middle of paper ...... on the other hand, for Samsung, such a global warming problem would be more difficult to manage because they are large emitters. The changes would have negative impacts for every company. Some may also have positive aspects, but the negative aspects outweigh the positives. In case of environmental changes, Samsung may also have to change due to the resulting pressure. Adaptation and mitigation strategies may need to be used. They included: reforestation, recycling, switching to “green energy”, etc. In conclusion, if ethics and the environment are well considered by both companies, they will have a better image and less pressure but, like any other company, ignoring these responsibilities could lead to a significant loss of image and therefore even a loss of turnover. Environmental changes, especially global warming, could be a struggle for every business..