Legal Structure and Business Environment: An Effective Approach to Study Business View

The economic activities are production, consumption, and exchange performed in business, effects the economic development in economy. Business Economics as a science studies the effects and implications of the plans, policies of a firm on its sales and profit through price and demand. It helps the management for the best and most efficient utilization of limited economic resources in the firm. The problem of business firms is forecasting demand, cost of production, pricing, profit planning, capital, management etc. in business. Business Economics uses that body of economic concepts and economic principles, economic laws in Theory of the Firm or Economics of the Firm. The managerial economics analyse the business problems that can be faced by the firm and the economic principles and law constitute the scope of subject matter of business studies. The Business environmental factors influence the working and performance of a business enterprises and managers in the process of business decision-making and planning. The focus of this article remains to study the legal structure of business and its effect on business environment and business performance. The business economy with legal studies and regulations to ensure that companies are strict to achieve environmental standards in competitive market. The emerging business laws - Companies Act 1956(Companies Act 2013), The minimum wage Act.1948, Environmental Law, Consumer Protection Act 1986, IT Act 2000, Industrial Labour Law are affecting the business environment and business itself in the form of safeguard of the human health and environment upgradation