Summary
Summary M1 Unit 38
- Institution
- PEARSON (PEARSON)
Achieved a Distinction in Unit 38
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By: rhupha • 6 year ago
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Neil Patel 40068068 Unit 38 M1M1 - Analyse the implications of government policies for a selected business
Governments create the rules and frameworks in which businesses are able to
compete against each other. From time to time the government will change these
rules forcing businesses to change the way they operate. Business is thus keenly
affected by government policy. A cut in the government spending can have an effect
on many different sectors of the economy for example: education, health, transport
and housing.
Economic Policy is what adds up rules and regulations which impact on the
economy. A key area of government economic policy is the role that the government
gives to the state in the economy. “Between 1945 and 1979 the government
increasingly interfered in the economy by creating state run industries which usually
took the form of public corporations. “. The economic policy means that they are
restricted due to the government having a budget on expenditure. This directly
affects Balfour Beatty as they are funded by the government which means they could
be capped to how much their budget is and they have no control over it.
If Balfour Beatty were to minimise their spending, this would have a direct impact to
their academy which is being government funded, which means it would either be
scrapped and all purchases would be pointless or it would be put on hold which is
still bad considering how much they were willing to spend on this project as well as
all of the disappointed clients missing out on this. Government policies would
potentially stop the funding towards the academy which is one con from having
funds from the government themselves.
Balfour Beatty has many projects that involve building and redesigning
many hospitals. They have had 9 projects in total throughout their existence and
show that providing for the public is more important for them than to make profit at
any chance. This shows the public that they are a company that are providing for the
public. It’s about creating an environment that allows patients to receive the highest
level of care and supports medical professionals in the safe delivery of this care.
Balfour Beatty invests in, designs, builds and maintains hospital and healthcare
projects in the UK and North America. These range from small, specialist facilities to
large, complex, multi-disciplinary hospitals for the NHS and other healthcare
authorities.
Balfour Beatty have been providing their services towards the transportation
structure for over 100 years.
This sector is their most valuable as it is their eldest but most popular because of all
of their previous contracts. If the country's economy was rapidly going down, the
government would be forced to cut back on expenditure and save money where
most necessary until back on their feet. This would mean Balfour Beatty would not
be able to get the funds or they would find it very hard for them to be funded by the
government in a potential financial crisis situation .
Balfour Beatty had also planned an expansion so that they can provide services in
China back in 2011. Ian Tyler, chief executive of Balfour Beatty said: “Moving into
China is absolutely where we need to be at the moment. It is too important a market
to not be there and it is inconceivable that we are not going to be there in future.”
If the government makes a decision to decrease tax amounts that need to be paid,
they will be directly impacted because they will then have less money to spend
towards the public sector. This may also lead to Balfour Beatty having less contracts
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