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Political and legal environment of Business

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All about Political and legal environment of Business with examples

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Political and legal environment of Business

  2. 2. The political environment consists of factors related to management of public affairs and their impact on the business of an organization. The legal environment consists of laws, courts, attorneys and legal customs and practices. India is a democratic country having a stable political system where the government plays an active role. A political systems serves as primary factor for economic development; ensures political participation of people ; and assures security to citizens and business organization. Marketing environment must be operated under the rules and regulations of different laws of India. The Central Government, State Government and Local bodies affect business operations. They pass legislations. These law affects the day-to-day operation of business.
  3. 3. Marketing decisions are strongly affected by developments in the political and legal environment. Increase in Business Legislation: Business legislation has three main purposes: 1. To protect companies from unfair competition; 2. To protect consumers from unfair business practices; and 3. To protect the interest of society from unbridled business behavior.
  4. 4. Consumer-protection legislation has made it mandatory that packaged food product carry a “green dot” signifying vegetarian ingredients, and “red dot” signifying no vegetarian ingredients
  6. 6. Protecting the Welfare of Consumers: In order to protect the interest of consumers , the Government of India passed a legislation under the Consumer Protection Act, 1986. Under this Act, the following six rights of the consumers are recorded: I. Safety; II. Information; III.Choice; IV.Representation; V. Redressal; VI.Consumer Education.