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Business

The business environment is constantly changing as time goes by. There are several factors that affect the aspects of the business environment such as benefits, costs, and risks of conducting business. The type of business, economic, government, and legal influences are major contributors to the business environment, Riordan Manufacturing, Huffman Trucking, Kudler Fine Foods, McBride Financial Services, The Elias Group, and Smith Systems are business that are affecting by those influences. Types of business may include sole proprietorship, partnership, limited partnership, corporation, limited liability partnership, limited liability company, c-corporation, and s-corporation.
Riordan Manufacturing, Inc. is a global plastics manufacturer partnership that was founded in 1991. (Ecampus) The partnership makes it possible to raise more capital and to share ownership responsibilities. Like the sole proprietorship, the partnership arrangement carries unlimited liability for the owners.(Foundations) While the partnership offers the advantage of sharing possible losses, it presents the problem of owners with unequal wealth having to absorb losses. (Foundations)
It manufactures products such as plastic beverage containers, plastic fan parts, heart valves, and medical stents. Economic influences on the business environment are interest rates, inventory levels, consumer confidence, unemployment rate, and gross national product. All of these have a drastic effect on the business.
Government influences include regulations, export restrictions, import tariffs and quotas, and government debt. The government influences can help or cause major problems for a business. The changes in regulations will force the business to meet and stay up to date with codes and policies. The government debt will make it hard to borrow money and will like raise interest rates.
The legal influences are minimum wage, discrimination, union, local, and environmental protection laws. Minimum...