1.5

internal stakeholders

owners/ shareholders

employees

managers

external stakeholders

customers

suppliers

local communities

pressure groups

the government

Consumer Protection

Preventing harm caused when the supplier knows more than the consumer (perhaps about the side effects of using the product)

• Preventing harm when the consumer is misled or lied to(perhaps about the quality of the product)

• Preventing exposure to unsafe or unhealthy products

consumer rights act 2015

goods must be fit for purpose, safe and at satisfactory quality

buyer has right to get money back if product is not fit for purpose

trade descriptions act 1968

has the following laws:

• It is an offence for a trader to use false or misleading statements

• It is an offence to misleadingly label goods and services

• The Act carries criminal penalties and can therefore lead to a jail sentence.

equality act 2010

Makes it unlawful to discriminate against someone via their age, disability, sex, religion or sexual orientation

4 main areas covered by employment legislation

recruitment

pay

discrimination

healthy and safety

problems from legislation

Too many rules means too much paperwork, which costs time and money.

Increases training costs for staff

Rule can restrict initiative and creativity. Although rules take time and money, it is not too

much to prevent business success.

It is red tape (rules and paperwork) that may not have

been designed for some types of business that they

still need to adhere to.

Consumer protection law is too valuable to dismiss if

the consequences of doing away with it are people’s

deaths from unsafe cars or faulty medicines.