Government as a Stakeholder in Manchester Airport.
Extracts from this document...
Waqar Shabir 10G Government I have ranked the government as the 6th most important stakeholder as they make laws and regulations for the business. These laws could affect both the business and the employees. The government is interested in businesses doing well because businesses provide people with employment, and pay tax to the government. The more profit a business makes, the more money the government receives. Overall, successful businesses mean a healthier economy. The government monitors the activities of businesses, and can influence them through the laws and regulations it passes to do with business practices. Businesses are also affected by how much tax the government charges. Employment laws The government of Manchester airport give out laws that affect both the business and the employees. ...read more.
This also means that when the business is hiring an employee, they cannot simply choose one over the other because of their gender or marriage. The Minimum Wage Act 1998 affects the business as it creates a minimum wage which all employees must receive. This means that the business has to pay each employee a certain amount of pay per hour which makes it more expensive to pay employees wages than before. If they werenât previously paying the amount the minimum way requires. Before this act, the business could pay their employees whatever amount of pay they wished, per hour, which sometimes was very low in order to save them money. ...read more.
Its main objective to change the rules for international aviation markets and cut government intervention as it applies to passenger, all-cargo, and for air transportation. The Open Skies Policy allows airlines to fly to and from country to country but at Manchester airport, the government have prevented this, by saying that it is bad for the airport and it could prevent them by making extra money. Tax The VAT increased from 17.5% to 20% in 2011. This affected Manchester airport as they had to pay more money to the government. Also, due to the increase in VAT the passengers to pay extra for a passenger ticket and the passengers do not want to pay a lot of money to fly and this could have decreased the reputation but it may have increased the revenue as more money was coming in. ...read more.
This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.
Found what you're looking for?
- Start learning 29% faster today
- 150,000+ documents available
- Just £6.99 a month
- Join over 1.2 million students every month
- Accelerate your learning by 29%
- Unlimited access from just £6.99 per month