When you want to study and be better qualified for a business or a company, there are many courses one can take up and study. Studying only adds value to the mind and the resume. Business students learn a variety of things in their course and are well equipped with knowledge and guidance to carry on with an employment when they come out into the real world. However, just knowing about finance, marketing or the human resources is not sufficient for a business student. They should know about the law too.
Though every company will have a separate legal department with people specializing in different types of laws, it is important for a business student to have some legal knowledge too. Check out why it can be beneficial for the student if they learn law along with their business studies, below:
Any business needs to abide by laws surrounding it. A great business plan or a great sales pitch cannot be a success unless it abides by the various laws around. Though a legal team is available to take advice from, when a business plan is being made, one cannot constantly keep running to the legal heads to get clarifications or approvals.
Knowing some of the legal basis can help the person in coming up with a plan that will be legally accepted and feasible. Once this is done, they can go in for a full-on legal analysis with the concerned team and get all doubts clarified and issues ironed out.
A little legal knowledge will help the person save time and come up with good ideas that will not be shot down just because it does not fit the legal requirements.
In a business communication is key. When you are talking to others in the company in a meeting or to a customer, if you are to say something that is not legal or suggests something that is not legally allowed, it can cause a great setback in the minds of the customers.
When a customer is being spoken to, they would like to be addressed by a knowledgeable person, so that they feel important and valued. Without basic legal knowledge, this can be risky