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Distinguish between the following

Political Environment and Legal Environment.

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Political Environment Legal Environment
(1) Meaning I In a country, the political system, constitutional provision, party system, events taking place time to time determines the political environment. In a country, business can be started, regulated, controlled, expanded within legal framework of a country determines legal environment.
(2) Factors Political stability, peace in the country, specific attitudes of elected representative, etc are the factors which affects political environment. Various laws are implemented from time to time with amendments in order to control and direct the business.
(3) Inter relation between environment Political environment and economic environment are closely connected with each other. Legal environment and regulatory environment goes together hand-in-hand in modern business environment.
(4) Impact on business Ideology of the political parties influences the business organization. Provides control, direction, expansion to the business organization.
(5) Purpose Political stability creates strength, confidence to various interest groups and investors in long term projects. Separate laws implemented time to time to safeguard and protect the interest of various groups such as busines’s organization, workers, consumers, etc.
(6) Effect of changes in environment Political instability effects the business organisation adversely. Business policies are amended due to political issues, events etc. prevailing in country. Excessive controls, implementation of laws, rules and regulations may create problem in overall development of business organizations.

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