Economics & the Legal Environment:

The essential economic as well as legal factors for the construction company have been discussed within this part of the document. They are as under:Þ    One of the main economic factors which might affect the XYZ Construction Inc. would refer to the economic stability within this sector. The jobs available in this sector have been decreased subsequently. This means that, people would not be willing to work in this sector.

Þ    There is lack of opportunity available for the construction workers to contribute towards the up liftment of the entire sector.

Þ    The loans in case of the construction sector have been regarded to be much riskier. According to the bank officials, lending money to the builders, Construction Company has been termed to extremely risky.

Þ    One of the legal factors attached with the construction company refers to the cost of plotting a route in order to obtain sustainability certification. Based upon this legal factor, this might lead to high levels of conflicts within the existing laws applicable in the same.

Þ    The second legal factor which might be developed for the construction company would refer to the standard of care along with certain levels of liability coverage attached to it.

Þ    Cost control along with the overrun would lead to high levels of risk factors. It must be seen that, the cost attached with the company is quite high. This is because of the different types of cost & technology attached to it.

Þ    The financial losses attached with any construction company, for example XYZ Construction Inc. would be claimed as the construction loss or failure or defects, etc.

Some of the labor laws which might influence the growth of the company i.e. XYZ Construction Inc. domestically & internationally are enumerated as under. They are:

Domestic Labor Laws:Þ    Contract of Employment: The rights as well as obligations shall be maintained within the organization. This should be formulated in terms of a contract & duly signed by the employee and the employer.

Þ    Working hours of the workers: The working hours of the workers shall be specified within the contract. It must be noted that approximately 9 – 11 hours of work should be demanded from the workers. Practicing Child Labor should not be done. This has been regarded as a punishable offense.

Þ    Minimum wages provided to the workers: Minimum levels of wages shall be offered to the workers. There are various forms of paying the wages. A due & highly practiced wage system shall be used.

Þ    Unfair dismissal: Unfair dismissal shall not be practiced. This means that, an employee could be fired at any point within its preferred work period.

Þ    Anti discrimination law: Discrimination within the employees working in the organization on the basis of race, religion, region, sex, caste, creed, etc shall not be practiced.

Þ    Workplace involvement of the workers: Workplace involvement of the workers shall be practiced within the organization. This would help the employees to speak up regarding the various issues which might arise within the enterprise.

International Labor Laws:

Þ    Responses to changing work patterns: One of the main labor laws internationally would be seen with respect to the changing work patterns. It has been seen that based upon this labor law, an increase in the overall existing employee relationship (Dunn & Kofron, 2010).

Þ    Gender Equality: This aspect in the international labor law would take into consideration gender equality within the different workplace or countries. The main role of the labor law in pertaining to gender inequalities. This code of law would take into consideration the existing gender inequalities pertaining within the organization or a particular state (Douglas, 2009).

Þ    Married person’s equality bill: This labor law majorly takes into consideration an equity bill for the married personnel’s. It has been seen that, the married women need to take due permission from their husband’s to work in  a particular workplace. This labor law majorly emphasizes upon the importance upon sensitization across the overall public (Dunn & Kofron, 2010).

Þ    Labor inspectorates: It must be noted that, each & every employee should be covered under the various labor laws as well as various institutional arrangements (Simon, 2008). This international labor law might take into considerations such as lack of personnel, lack of resources within the enterprise, etc. This law also keeps in mind the various equipments which should be used by the inspectors at the time of their duty (Dunn & Kofron, 2010).

Þ    Labor Migration: One of the major international labor laws would b in regards to labor migration. This means that a defensive law should be created in respect of the same. A sophisticated as well as a dominant platform shall be maintained. This would lead the labor to migrate from one country to another (Simon, 2008).

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