Law and Legislation 1.5.2

Question 1

Name 5 cost impacts of legislation

Answer 1

Training, equipment, pay, aministration and licences.

Question 2

Explain the cost impact on training

Answer 2

training may need to be retaken to comply with new laws. This means paying for the training staff, transport and sometimes accommodation

Question 3

Explain the cost impact on equipment.

Answer 3

Businesses may have to alter how the work is being carried out meaning new, updated equipment.

Question 4

Explain the cost impact on pay

Answer 4

This will need to be increased with things such as National Minimum Wage.

Question 5

Explain the cost impact on administration

Answer 5

Updates to websites and paperwork all come at a cost. Printing as well as time taken by employees to update has to be paid for.

Question 6

Explain the cost impact on licenses / professional services

Answer 6

These include payments to specialists such as solicitors and accountants who advise the business on decisions.

Question 7

Name 4 positive consequences

Answer 7

1. Reputation
2. Stakeholders are happy
3. Higher sales from good reputation
4. Better candidates

Question 8

Name 4 negative consequences

Answer 8

1. May be taken to court
2. Negetive media covergae
3. Injury or death
4. Business is closed down