Essay
Unit 38 - Business and the Economic Environment P2 M1
- Institution
- PEARSON (PEARSON)
level 3 business extended diploma Unit 38 - Business and the Economic Environment P2 M1
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Unit: 38Task: P2 M1
Unit 38- business and economic environment
In this assignment I will be identifying how government policies impact a selected
business. I will also analyse the implication of government policies for a selected
business. For the purpose of this task I will be using Tesco as my selected business.
Government Explanation How this affects Tesco
policy
Economic policy Economic policy means the Due to the economic policy Tesco is affected
policies that the government both negatively and positively. This is because
has to deal with such as if unemployment was rising then the
economic growth, government will intervene due to the policy.
unemployment and inflation. They will pay Tesco to employ workers
through apprenticeship. As a result Tesco will
have extra money and free employees.
However this could also be risky to Tesco as
they will face situations such as overstaffing
and hiring employees with lack of experience.
They may not be able to deliver customer
service that matches Tesco’s regulations.
Industrial policy Industrial policy relates to Tesco is affected by industrial policy because
government policy that is As it is one of the UK’s largest supermarkets it
designed to enhance and employs many workers. Due to this reason the
increase industry in the UK. It industrial policy works in favour for Tesco as
focuses more on jobs and skills they would want Tesco to expand and build
And also highlights the way more franchise so that they can hire more
that government plans to deal workers. Tesco also offers training and work
with issues that directly relate experience to the public which means that the
to industry. people are able to pick up skills from the
company.
Environmental Environmental policy refers to The environmental policy affects Tesco as the
policy the commitment of an company needs to help the government in
organization to the laws, preserving the earth. This means that a large
regulations, and other policy business like Tesco must pay higher fines and
mechanisms concerning taxes. For example teso provides customers
environmental issues and with plastic bags to put their grocerires in. As
sustainability. a result they must pay more tax as most of
these plastics cannot be recycled. And as a
result when buring these plastic bags a
harmful toxic is released in the air which
pollutes the earth. Therefore the
environmental policy is created in order for
tesco to contribute in maintaining the welafre
of the earth.
Transport policy Transport Policy is an Transport policy affects tesco because it
international refereed journal allows the company to provide better services
aimed at bridging the gap to customers. For example home deliveries.
between theory and practice Due to this reason tesco are able to hire more
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