Learners need to consider the wide range of government policies that impinge on business and select those that have a significant effect on the selected business. The impact of policies will vary between businesses depending on their size, location and type of activity. It makes sense to use the sa...
Task 1.2- Identify how government policies impact on a selected
business
Introduction
In this task, I am going to identify how government policies impact on my
selected business which is Curry’s. These government policies impact greatly on
businesses in the UK because this determines the activity & survival of
businesses in the UK.
Government Policy- This is a plan or an action enforced by the government to
make decisions influencing businesses and the economy. Government policies
impacts businesses such as Curry’s because this will determine the outcome of
the business. Curry’s have to follow those policies in order to succeed as a
business & to not get into trouble with the government. Government policies
allow Curry’s and other businesses to survive in the economy.
The government policies are:
Economic Policy- This is a policy that adds up the rules and regulations which
impact on the economy. Examples of economic policy are decisions made about
government spending and taxation, about the redistribution of income from rich
to poor, and about the supply of money. The economic policy relates to the
economic factors such as economic growth, unemployment, inflation, gross
domestic policy (GDP) and many more. The economic policy is an advantage to
businesses and the economy because this can increase economic growth,
inflation & unemployment will decrease, consumers will have an increase in their
disposable income and productivity will increase. The economic policy will impact
on Curry’s because if the government influence the policy well then there will be
an economic growth which means unemployment will decrease allowing
consumers to have a high disposable income allowing them to purchase more of
Curry’s products which will increase sales & market share and maximise their
profits. Another impact that the economic policy will have on Curry’s is that
productivity will increase which will mean Curry’s can produce more goods which
they can sell to their consumers increasing their sales, market share, and profit
allowing Curry’s to succeed as a business. Another impact that the economic
policy will have on Curry’s is that the UK’s GDP will increase which means
unemployment will decrease, consumers will have more disposable income
which they can be able to purchase Curry’s products. This will increase Curry’s
sales, market share, and profit which they will survive & succeed as a business.
Industrial Policy- This is a policy that influences industries in a country to
expand. This is equivalent to the economic policy as it provides jobs to a lot of
people. Examples of industrial policy are rising incomes, new technologies,
demographic changes, and low carbon emissions. The characteristics of the
industrial policy are that unemployment will decrease which more jobs are
available for consumers allowing them to have a more disposable income. This
will increase sales & profit for businesses. Business investments will increase and
there will be more confidence in the economy. The industrial policy impacts on
Curry’s because consumers will have a more disposable income due to the
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