Competition Commission Essay Example | Topics and Well Written Essays - 2000 words

Competition Commission - Essay Example This protects the economy and consumers from unnecessary or unreasonable exploitation. The CC serves as a competition regulator under the BIS i.e. Business innovation and skills department. History and development The Competition Commission was created through the influence of the Competition Act 1998. Most of the powers of CC were governed by the Enterprise Act 2002. The CC replaced MMC (monopolies and mergers commission) in 1999. The powers and influence of the competition commission were enhanced. The commission was given the independence to make decisions and recommendations to the government after investigations. The commission makes enquiries and recommends the appropriate remedies arising from competition on the market. The Competition Commission is a public body. The commissions have been charged with a responsibility to ensure that major industries are regulated and a healthy competitive and fair relationship exists between companies, economy and consumers. The enquiry must be referred to the Competition Commission by other selected authorities. This ensures that the Competition Commission deals with merited cases.... The government aims at launching a more efficient body i.e. CMA (competition market authority) by the year 2014. This development shields the consumers from unhealthy business practices like monopolises that exploit consumers. Mission and aims Mission: working to create a better future every day. This includes developing new ways of conducting business leading to increases revenues while reducing environmental impact. Aims: Working with integrity Creating a positive impact in the society Doubling the size of the company while creating a better future Management structure and leadership Communication has a two-tire hierarchical management structure. The commission has a chief executive who works with a seven directors. The commission has strong legal advisors and enquiry teams to ensure all the stakeholders has direct access to the referral authorities when in needed of redress. The leadership has professional skills in corporate management and economic analysis (Bercusson & Estlund 2 008). The commission has set out a management structure capable of fostering faster decision making. The leadership and management structure is flexible in its response to external stimulus and stakeholder concerns. The structure makes it easier to relay advisory or arbitration information. Leadership team is empowered by the legislature to make strategic decisions based on the information from the market. Commission management must facilitate inclusive decision making and encourage teamwork (Leisering 2011). The information technology department must have the capacity to install platforms that enable the CEO to link with other directors within the commission. The management structure and leadership of