Topic > How political, legal and social factors are influencing...

P6 describes how political, legal and social factors are influencing the business activities of selected organizations and their stakeholders.M3 analyzes how political, legal and social factors social influences had a contrasting impact on the two organizations. Part A Taxation Companies must pay corporation tax on their taxable profits. This is why corporate taxes depend on the profit made by a business. Each individual or organization must pay taxes based on their income. These taxes are income tax. National insurance is a contribution system set up by the government. Each individual, provided that certain criteria are met, must pay a certain amount, depending on the amount of income. National insurance may have some benefits including state pension. The national insurance rate depends mainly on your income. VAT describes the rate at which goods and services are sold within a territory. The current standard VAT rate is 17.5%. Customs duty is a payment for bringing goods from one side of a country's border to another. In some regions these obstacles are eliminated thanks to the formation of political groupings, trade blocs. This allows flows of goods, money and sometimes workers to cross national borders. However, some parts of the world cannot be crossed without paying government-set customs duties upon entry. Providing Infrastructure Roads are routes between two or more places. Roads can be used by both individuals and organizations. Road transport can be simple as short distances can be overcome quickly and cheaply. On the other hand, long distances take a long time, for example with vans or trucks, because congestion can occur on the road and b...... middle of paper... on the other hand, for Samsung, a problem of the kind of global warming would be more difficult to address because they are large emitters. The changes would have negative impacts for every company. Some might have positives too, but the negatives outweigh the positives. If there are environmental changes, Samsung may also be forced to change due to the resulting pressure. It may be necessary to use adaptation and mitigation strategies. These include: reforestation, recycling, switching to “green energy” and so on. In conclusion, if ethics and the environment are well considered by both companies, they will have a better image and less pressure but, like any other company, ignoring the responsibility could cause a serious loss of image and therefore also a loss of sales. Changes in the environment, especially global warming, could pose a challenge to every business.