They aim to ensure that competition policy is enforced throughout UK markets. They aim to ensure that competition policy is enforced throughout UK markets. Businesses may be fined if they are found to be partaking in a cartel. The Competition and Markets Authority (CMA) are the main competition policy regulators in the UK. The definition of political actor within INFOCORE refers to: “individuals who have obtained at least some measure of political power and/or authority in a particular society who engage in activities that can have a significant influence on decisions, policies, media coverage, and outcomes associated with a given conflict”. If they are found to be doing this they may be fined for anti-competitive behaviour, from occurring. A monopoly occurs if there is only one supplier of a particular product or service, – this area deals with tax rates and the level of government spending, – this area deals with setting interest rates and controlling the supply of money in the economy, Religious, moral and philosophical studies. ‘Political factors” are those facts of social, cultural, economic &c significance , which if taken as a factor of social solidarity or division, can lead to a distinct and divisive political outcome. The first political factor that can be a barrier to social media penetration to promote democracy and social justice is government instability, and more importantly the uncertainty of the laws enacted by the government. The stability of political environment is very conducive to the economy and business in general. These include: The main aim of competition policy is to ensure that there is fair competition in the market. Political factors involve the decisions and laws that governments make. They can also affect businesses by increasing value-added tax on products or business rates, This can impact profits. Various Political Environment related Factors & Elements. Political factor Impact; Governments can raise or lower corporation tax. Reza Jamali, in Online Arab Spring, 2015. Strategic analysis and future strategies. They can also affect businesses by increasing value-added tax on products or business rates Analysis of political factors. Businesses can’t control external factors but must respond to them. Download as PDF. Most businesses will keep a watchful eye on political factors which might have an impact on the company’s bottom line. Set alert. Governments can raise or lower corporation tax. Political factors involve the decisions and laws that governments make. About this page. Increased competition encourages suppliers to maintain a good price and a high quality service so they remain competitive against other suppliers. Political factors are activities related to governmental policies that can have an effect on something. This is the behaviour of the government in influencing the economic performance of the country. Businesses may be forced to sell off branches or divisions to ensure that enough competition remains in the market, ... businesses from making agreements with other firms when, for projects. ... businesses colluding with other organisations to fix prices. For example, Scottish fishermen hope that leaving the EU will help boost their industry. political factors, such as their electoral popularity and the proximity of the next elections. They may also be forced to change their prices, that would lead to a considerable decrease in competition in the market. This would include the decisions the government make on: Our team of exam survivors will get you started and keep you going. 1. are the main competition policy regulators in the UK. If a country is not stable and government keeps changing frequently, the country can never be economically stable as well. Read about our approach to external linking. On the other hand UK-based car manufacturers are worried about losing out on free access to wealthy customers in France and Germany, The Competition and Markets Authority (CMA) are the main competition policy regulators in the UK. This can lead to increased innovation as companies aim to outdo competitors. Stability : This is one of the most important factors. If the rate of VAT is raised a company will need to increase their selling price which may reduce sales, Government can implement new laws like the National Minimum Wage, Impacts on profits as the wage costs of the business will rise, Governments can introduce new health and safety legislation, This means that a business may have to change the way it works, for example by training its staff or upgrading its machinery or safety equipment, The vote to leave the European Union, also known as Brexit will have an impact on the way UK firm’s trade with the EU single market, The impact may be negative (a loss of trade with EU customers) or positive (less restrictions placed on firms by EU lawmakers).
This is known as a, . These results partially conflict with those expected from H2, due to the These political, economic, social, technological, environmental and competitive factors are represented by the acronym PESTEC.