Question

1. Legislation and regulations from all levels of government will affect various aspects of business operations and the risk management aspect of business. The impact of legislation and regulations will depend on business operations/ type of business, the number of staff employed, industry sector and the structure of the business.

Explain in 200–250 words:

*why it is necessary to have a working knowledge of the legislation involved in business

*what legislation or regulations apply to the industry area in which you work or intend to work—list and give a brief description of eight forms of relevant legislation

*how and from where you sourced this information

Make a list of 10 forms of legislation or regulation that could have an impact on risk and that you might have to outline when communicating with employees.

Answer 1

There needs to be great emphasis towards legislation as this helps businesses deal with potential implications regarding lawsuits and litigation which has power to damage the brand name and incur financial losses and customer experience in long run.

In Telecommunications industry in India, there are various legislation regarding merger and acquisition, spectrum auction, interconnect usage charges, customer and revenue market share, monopolistic competition, predatory pricing, debt refinancing, licensing . The heavy taxation coupled with various legislation from governing bodies form major complexities in running businesses.

The above information is well available on website of Telecommunications regulatory authority of India, Department of Telecommunications, Telecommunications dispute settlement authority tribunal.

Various legislation businesses deal with specifically to treat employees are Civil Rights Act, Sexual harrasHarra at workWorkpl Act, Equal employment opportunity Act,etc. Other laws like foreign corrupt practices Act, Sarbanes oxley Act, Dodd frank Act, Companies Act, etc are most dealt with. In general, there are four broad categories of legislation like bills, simple resolution, joint resolution and concurrent resolution which determine sustainability of business.