Essays on ACCC

Arguably, testing and labeling of product are major activities in the world of business. In fact, the consumer is always the final person in the business trend, and it is crucial to protect them. Testing and labeling of products protects the consumer and the public against unreasonable injury and risks. These protections are done in various ways, which include consumer education, regulation, enforcement, as well as safety standard activities. In the labeling and testing process, there are many stakeholders who make certain that the regulation is followed, and the public is fully protected. Generally, there are various reasons for ...

Introduction

Global business standards codex principles (GBSC) define the conduct of business and business people when engaging in business activities that often requires partnership amongst stakeholders (Holmes & Hatch, 2007, p. 376). This paper discusses three prime principles namely; The Fairness Principle, The Transparency Principle and The Reliability Principle. The three principles are used to evaluate the state of global business in the supermarket business. Primarily, the essay is based on the GBSC principles mentioned about the role that they play in shaping the nature of supermarket businesses across the globe. According to Paine, Deshpande, Margolis and Bettcher (2005, p. 124), ...

Legal Issues Affecting Business Organizations in Australia

Recurrently, business entities engage in fraud or unfair practices in an attempt to gain advantage over their competitors. It is not always that these practices benefit consumers- on several occasions, business entities disregard the rights of the consumer. It is in this light that most governments, inclusive of the government of Australia, require business to submit information about their various products in a bid to ascertain if the products, in any way, infringe the rights of consumers. This is bid by governments to safeguard the rights of consumers is conventionally referred to as consumer legal protection.

The Level of Consumer Protection in Australia

However, even as governments, ...

1.0 Introduction The current consumer regime in Australia came into effect on 1st January 2011. The sole aim of this thesis is to compare and contrast the present day consumer regime legislations and the pre-2011 ones. This is to ascertain whether the present day legislations are progressive or retrogressive. The Australian Consumer Law of 2011 (ACL) can be defined as “a national, state and territory law from 1 January 2011 and includes unfair contract terms legislation introduced on 1 July 2010’. Under this legislation, all consumers have the same entitlements and all businesses too have the same responsibilities and ...

Question 3

Maximizing profits for the benefit of the shareholder is the fundamental philosophy to all profit driven businesses. However, most of the return strategies appear to contrast with the actual corporate behavior. This is so the case especially in corporations where the directors tend to seek personal achievements first. The executives, in a bid to satisfy their personal goals overlook, of forget the main goal, profit maximization for the shareholders. One thing to note is that profit maximization and wealth maximization are two different things. Profit maximization is about making more profits by increasing the price of the stock[ CITATION Fra07 \ ...