Ch1 People In Business Flashcards
What is a business
An organisation that buys and sells goods and services
What is a commercial business
Provides goods and services,aim to make a profit
What is a non commercial business
A business that puts people and community first ahead of profit, provide a service for people eg GAA
What is a stakeholder?
An individual and organisation that are affected by the actions,objectives and policies of a business
Who is a stakeholder
Entrepreneurs Consumers Investor Employee Ect...
Types of capital
Loan capital
Grants (Leo)
Equity capital
What is the CSR
Corporate and social responsibility
What is an interest group?
Is a group of people who meet and campaign for a common goal
What is the ibec, what do they do
Irish business employee confederation
Aims to influence decisions makers eg EU government on things like transport also provides advise,support
What is the ISME, what do they do
Irish small medium enterprise represents views of small business owners in Ireland issues with affect its members eg impact on business of minimum wage went up
What is a trade union what do they do
group that represents the views and interests of employees in particular industries,aiming to protect members
What is the IFA
Irish farmers association
Name 4 relationships between stakeholders
Co-operative relationship
Competitive relationship
Dependent relationship
Dynamic relationship
What is a co-operative relationship
Stakeholders work together towards a common goal, better results as working together, win win for both parties
What is a competitive relationship
Stakeholders work towards different goals, creates a win lose between both parties
