Question.3404 - Assessment of Fair Labor Standards Act (FLSA) within employment law.
Answer Below:
Writing Assignment 1 Upadhi IzeagiUoPeople University BUS 3305-01 Business Law and Ethics September, 11th, 2024 Writing Assignment 1 Firstly, considering the employment law - wherein it encompasses a broader range of federal and state statutes with regulations and other common law principles to govern and sustain the relationship between both employees and employers - however, the underlying crux lies on the basis of Fair Labor Standards Act (FLSA) that serves as the key source along with Civil Rights Act 1964 combined with federal or state-specific labor law and Occupational Safety and Health Act (Collins, 2010). These tend to ensure a sense of safe and healthy work environment by protecting the basic rights of the workers while simultaneously ensuring fair labour practices, for instance, regulations on working hours, standards, wages, working conditions, and the environment and prohibiting discrimination on varied grounds. Since employment law lays the foundation for both employer and employees for fair treatment, it fosters a sense of positive and safe work environment that further enhances employee morale while helping businesses avoid legal liabilities and penalities but the very same on for certain companies in terms of compliance with employment law can be complex and costly for businesses, particularly for small businesses with limited resources who can extend their resources reach meeting all the law standards as they in a way restrict employers' flexibility in certain areas, such as hiring and firing decisions (Collins, 2010). Some of the ways to improve them are, firstly there is a need to establish a structure of flexibility within the employment law scope to aid small businesses paticularly in areas like overtime exemptions or workplace safety standards, then streamlining and consolidating the laws to reduce the burden on businesses and improve compliance and have the new laws and regulations educated/trained by employers and employees can help ensure compliance and prevent disputes (Collins, 2010). Secondly, environmental law - which involves federal, state and local regulation enforced to protect the natural resources and environment surrounding, this law is based on Clean Air Act, the Clean Water Act, and the Endangered Species Act - seeking to address the protection of wildlife, tackle varied forms of pollution, establish sustainable practices and more to ensure that businesses operate in a way that is environmentally responsible and minimizes their negative impact on the planet (Snape & De Souza, 2016). On the positive front, in the long run, upholding environmental law will foster an eco-friendly innovation structure and drive businesses to develop more sustainable products and processes; it will also enhance a company's reputation and attract environmentally conscious consumers. Although the current market trend is to adopt an eco-friendly business model, complying with environmental regulations can be expensive and time-consuming for businesses, notably for industries with high environmental impacts leading to increased costs for consumers (Snape & De Souza, 2016). Some of the possible improvements that can be implemented are conducting thorough cost-benefit analyses to confirm that environmental regulations are reasonable in terms of adaptability to smaller businesses and do not impose undue burdens on businesses or hamper their flow of revenue in the name of environmental sustainability. Also, providing incentives and subsidies to encourage businesses to adopt environmentally friendly practices, although this model will burden the government to a certain extent, it will foster a sense of collaborative operative model between businesses, government agencies, and environmental organizations to develop effective and efficient solutions (Snape & De Souza, 2016). Thirdly, the taxation laws that govern the collection of payments of taxes which revolves around corporative income taxs, payroll taxes, and sales tax - wherein these laws are primarily within the federal structure, but states and local governments also have their own tax laws - these laws serve the primary purpose of governments revenue generation, utilized to fund any public services and infrastructure building, and also serve as tools for economic policy, that will in turn either encourage or discourage certain business activities (Thuronyi, 2016). The tax laws tend to provide businesses possibilities to tap into incentives like deductions like the eletric vehicles are being incentivized to spread adaptation of electric vehicles by the target customer at the same time help the manufacturers sustain their businesses. In terms of negative impact, the higher the tax rates, the higher the possibility of businesses losing their profit and discouraging investment (Thuronyi, 2016). Complex tax laws can increase administrative burdens and compliance costs. Some of the possible improvements are ensuring that the tax system is fair and equitable for all the stakeholders involved under the governmental structure, avoiding excessive burdens on businesses of all sizes; and address the challenges of international tax avoidance and promote a more level playing field for businesses operating globally. References Collins, H. (2010).?Employment law. Oxford University Press. Snape, J., & De Souza, J. (2016).?Environmental taxation law: policy, contexts and practice. Routledge. Thuronyi, V. (2016).?Comparative tax law. Kluwer Law International.More Articles From Business Management
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