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European Business Master - Essay Example
The United Kingdom's business and legal policies have at times run against EU business and legal policies. Population size is related to the success or failure of a business. Area size can affect the sales of a company. The following paragraphs explain the intricacies of the UE economic conditions when mixed with UK economic conditions.
Also, the European Union is likened to the United States. The United Kingdom economy has increased as a result of the single European Dollar' replacement of the different currencies of each state. Tony Blair took the lead in encouraging the ministers to accept a single European Union currency.(Grice, 1999).
There are many advantages to joining the European Union, First, manufacturers and retailers will be able to increase their customer base. First, with the single European Union currency called the European Dollar, companies in the United Kingdom can now sell their products and services to other members of the European Union more easily. Since the single European dollar is used in more states in terms of land area than the United Kingdom sterling, the United Kingdom will be able to increase its sales by expanding its product lines and work into Germany, France, Netherlands and the like(Grice, 1999). Second, all European Member states are implementing strict privacy of communication laws unlike in the United States where data is generally freely given. EU privacy law translates to eliminating delicate employment questions like age, military service, religion and marital statues when applying for a new job(Robb, 2003).
There are also disadvantages if th ...