Introduction Convergent United Kingdom Business Essay Example

their own national laws.

According to Eurofound (2009), the European Union Directive allows EU citizens to exercise their profession in a Member State other than where they obtained their professional qualifications, whether self-employed or employed. Meanwhile, Project Britain (2010) states that the class-based social structure of the UK has been undermined by its multicultural society and evolving economy. The class system traditionally categorized individuals based on various professions and assigned higher social status to professionals like lawyers and doctors compared to unskilled workers. These different classes represented varying levels of wealth, power, and influence. In the past, an individual's class could impact their job prospects, education opportunities, and social relationships; however, except for the Royal Family (The Royal Household, 2010), today the significance of the class system has diminished.

Project Britain (2010) states that the classification system in UK society can be condensed into three main categories: the upper class, middle class, and lower or working class. The upper class comprises of the oldest families who possess significant wealth and hold prestigious positions. The middle class is made up of professionals, business people, industrialists, professionals, and store owners. Lastly, the lower or working class encompasses unskilled workers in factories, agriculture, and coal mines.

Since becoming a part of the European Union in 1973, the United Kingdom has experienced significant changes in its laws, culture, and business practices. The EU operates as an economic union and enforces standardized laws that apply to all Member States, creating a single market (Europa, 2009). Consequently, this has resulted in notable modifications to employment law and employee rights within the UK (Rubery, 2010). EU legislation encompasses various areas including corporate redundancies, data protection,

discrimination, employee rights, equal pay, health and safety regulations, protection for pregnant workers and young workers, working hours regulations, and the rights of transferred workers within the UK (CIPD , 2010). As a Member State of the EU, it is necessary for the UK to adopt these European Laws into national legislation to ensure effective enforcement and consistency across all Member States (Europa , 2009).

Reforms are necessary to comply with regional standards and national laws, such as the UK's Companies Act. The Companies Act was last reformed in 2006 to implement the EU's Takeover and Transparency Obligations Directives. Therefore, local companies must make changes to their management practices in order to meet the legal requirements set by this law.

In a speech given in 2000, former Prime Minister Tony Blair sought to define "British Values," emphasizing fair play, creativity, tolerance, and an outward-looking approach towards the world. These values have been influenced over centuries by factors including the rule of law applying equally to all individuals, personal freedom encompassing rights like life and expression, parliamentary sovereignty, a pluralist state structure, private property ownership reflecting British freedom and character; family as a vital institution for passing down values through generations; and history.

Telegraph Media Group Limited (2010) states that there is a connection between English speech production population and British character.

In 2006, Chancellor of the Exchequer Gordon Brown emphasized the significance of a contemporary constitutional agreement and symbols that would mirror a present sense of patriotism during his speech at the Britishness Conference organized by the Fabian Society. He also proposed the establishment of a 'British Day' to promote "British values" (BBC News, 2006). Moreover, in that

same year, the UK government made endeavors to include mandatory "British Values Classes" in the educational curriculum for students aged 11 to 16.

The launch of this initiative was a response to the terrorist attacks in London in 2005, aiming to promote social integration. Unfortunately, it did not receive the attention it deserved (BBC News, 2006).

Institutional legacy refers to the shared experiences that shape people's mindset and create common behavior patterns among social actors over time (Business Dictionary, 2010). This legacy is established through both formal and informal institutions or ideologies.

It is reflected in outlooks, cognition, orientations or political and economic civilization (Business Dictionary, 2010). There are a Numberss of benefits instigated by the rank of the European Union and these benefits have been monolithic. The standardised system has helped member provinces to develop stable and comfortable democracies. No one member provinces are in a best place than the other and each are considered equal (Europa, 2009). The United Kingdom has enjoyed rising benefits from the unfastened markets and just trade and competition.

The European Union has given assistance to various European countries for their progress. Specifically, the United Kingdom (UK), which has a population of 61 million and a per capita GDP of US $37.4k, is considered the 30th wealthiest nation globally. It holds the second-largest economic position in Europe and fifth worldwide, boasting a GDP of US $2.279 trillion. The UK's economy primarily revolves around services and exhibits low unemployment rates, substantial purchasing power, and continuous productivity growth.

The UK is known for its advanced fiscal system and the banking and fiscal sectors are vital to the country's GDP. It is also Europe's largest trading partner

within the EU, especially in terms of exporting natural gas to European nations. It is worth mentioning that over half of the UK's import and export activities involve EU countries. To promote local business growth, enhance economic development, and encourage business investments, the UK government released its latest White Paper on October 28, 2010 (HM Treasury, 2010).

The authorities have implemented various strategies to stimulate economic growth. Some of these strategies include providing incentives to local governments for sustainable economic development, such as allowing councils to keep locally-generated business rates in the Local Government Resource Review. They have also established a ?1.4 billion Regional Growth Fund to assist private sector businesses and communities reliant on the public sector in transitioning towards private sector-led growth (HM Treasury, 2010).

Furthermore, membership in the European Union has had a significant impact on the United Kingdom. It has led to the creation of a unified market and implementation of standardized laws. As a result, the UK is obligated to align its national laws with those of Europe, including changes in workers' rights governed by the Treaty of Rome. These changes have greatly influenced management styles within the country and contributed to increased cultural diversity while reducing previous class divisions.

All thanks to the jurisprudence which protected better rights for homosexuals, including anti-discrimination and equal pay in the workplace. Importantly, the UK Government has a favorable stance towards Europe while also preserving "British Values" without compromising its uniqueness and identity. The Government believes that the country is stronger in partnership with the EU, as it is the UK's largest trading partner.