Government laws apply to all company activities; some are particular to a given industry, while others, including safety and environmental regulations, apply to all industries. Working cooperatively and honestly with the proper government representatives is in the best interests of a company. The rules generate a lot of documentation, some of which can be very difficult to understand, especially in the financial and taxes fields.
What rules apply to all businesses equally?
- Thread starter Shavkat
- Start date
The rule I believe that applies to all business is that profitability is the sustaining power of all business. Without profit, business will turn to charity organizations or non governmental organizations. Profit is what defines all business. Anything that is called business will only survive from the proceeds of the business.
I believe one rule that should apply to every business is that customers satisfaction should be one of your primary goal. Every business owner starts up a business to make profit but the satisfaction of your customers should also come next.
One rule that I feel should apply to all businesses is that they should all deliver quality products or services for the amount of money that is charged for what they are doing
All businesses in the country are regulated by the government agency involved. We have a law on ease of doing business and this has simplified the process of securing permits. Unless the environment is compromised all other conditions are addressed at conveniently. This eliminates red tape.. Minimum of face to face transaction is encouraged.
In my location, there are certain rules which apply to all businesses : The labour law; minimum wage; paid leave, including maternity leave; requirement to join the Mandatory Provident scheme.
