3.7.4 - political and legal change Flashcards
1
Q
what do ‘legislations and regulations’ do?
A
- control fair competition by businesses making decisions based off these rules
2
Q
what are the 3 types of competition law?
A
> anti-competitive agreements
abuse of dominant market position
merger control
3
Q
what do anti-competitive agreements do?
A
they stop any collusion or arrangements that restrict competition (discounts)
4
Q
what is abuse of dominant market position?
A
when businesses have more than 40% market share as considered dominant, and an abuse of power
5
Q
what is merger control?
A
when mergers are reviewed to ensure they don’t significantly reduce competition
6
Q
what are the 4 results of competition law?
A
- price competitiveness
- providing choices
- quality range
- innovation/entrepreneurship
7
Q
what are the 3 aims of employment legislation?
A
- protect individuals from unfair treatment
- advance opportunity equality
- make unlawful discrimination based on ‘protected characteristics’ - age, gender, race
8
Q
what are 3 ways to improve employee relation?
A
- inclusion and diversity
- having a variety of processes and procedures/management styles
- capability and rewards of services
