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Essay on Course related subject
Whenever any business is established, it has to meet certain rules stipulated by Government of given country / state. Although, the aim of these rules is to make corporate lives easier but sometimes, they create barrier in the way of prosperity / success of firm in question. In paper we will try to see how the management of business, including its structure, personnel, activities and concerns is impacted by Government policies and regulations.
In there book "Management", Robbins, Stephen P. & Coultar, Mary has shown the impact in these words,"Federal, state and local governments influence what organizations can and cannot do. Some federal legislation has significant implications. For example, consider the following: The Sherman Anti-Trust Act of 1890 sought to stop monopoly practices that resulted in restraint of trade. The National Labor Relations Act of 1935 stipulated that employers were required to recognize a union chosen by the majority of their employees and also established procedures and rules government collective bargaining. The Civil Rights Act of 1964 made it unlawful for an employer to discharge, refuse to hire, or discriminate in employment against an individual because of race, color, religion, sex, or national origin. Other Acts are listed in table # 1 below:
SELECTED SIGNIFICANT LEGISLATION REGULATING BUSINESS SINCE 1970
LEGISLATION PURPOSE
Occupational Safety and Health Act of 1970 Requires employer to provide a working environment free from hazards to health
Consumer Product Safety Act of 1972 Sets standards on selected products, requires warning labels, and orders product recalls.
Equal Employment Opportunity Act of 1972 Forbids discrimination in all areas of employer-employee relations.
Employee Retirement Income Security Act of 1974 Enacted by Congress to protect an employee's right to his or her pension.
Toxic Substance Control Act of 1976 Provides for the assessment and control of toxic substances.
Airline Deregulation Act of 1978 Eliminated route restrictions and price controls in the airline industry.
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