BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Legal environment comprise of the legislation and rules passed by the government such as the companies Act, Trade union Act, etc.

Detailed explanation-2: -Legal Environment of business consists of various legislations passed by the government administrative orders issued by the Government authorities court judgements and decisions rendered by various commissions and agencies set up at every level of the government.

Detailed explanation-3: -The legal environment includes various laws and regulations enacted, amended or repealed by the government, policies relating to licensing and approvals, policies related to foreign trade, strategies adopted by the government to improve the business ecosystem are the examples of legal environments.

Detailed explanation-4: -Act of Parliamentarians in Lok Sabha is not an element of legal environment since legal environment constitutes the laws and various legislations passed in the parliament.

Detailed explanation-5: -There are various laws and legal factors that affect businesses. Some of these include organizational, securities, employment, contract, commercial, immigration, consumer protection, tax, and industry-specific laws and regulations.