CHAPTER 1-Introduction to People in Business Flashcards
what are commercial businesses ? (examples)
they provide goods and services to make a profit for the owner.
(example: dunnnes stores, bmw and apple).
what is a business ?
a business is any organisation set up to provide goods or services. A business can be commercial or non-commercial.
what are non-commercial businesses ? (examples)
they exist to meet some needs other than making a profit.
example: trocaire, St.Vincent de Paul and sports clubs
what are stakeholders?
they are different groups of people who are directly affected by how a business is run
name the different stakeholders ?
entrepreneurs investors employees managers
producers customers suppliers government
what are entrepreneurs ?
they are people who take the initiative to turn an idea into a business
what is owners’ capital and what is it also know as ?
it is money invested by people or companies. In return they become part owners of the business and are entitled to a share in the future profits. it is also known as equity capital
what are interest groups ?
they are organisations representing people who share common interest or goals
what is lobbying ?
it refers to the deliberate effort by interest groups to influence decision-makers by promoting a particular point of view
what are business interest groups ? (examples)
they represent the interests of businesses
examples:
IBEC-Irish Business and Employers Confederation,
ISME-Irish Small & Medium Enterprises,Chambers of Commerce
what are trade associations ? (examples)
they are business interest groups that represent businesses involved in similar types of activities.
examples:
SIMI-Society of the Irish Motor Industry,
FDH-Food and Drink Industry Ireland
IAHS-Irish Association of Health Stores,
RGDATA-
what does IBEC stand for ?
Irish business and Employers Confederation
what does ISME mean ?
Irish Small and Medium Enterprises
what does SIMI stand for ?
the Society of the Irish Motor Industry
what does IAHS stand for ?
Irish Association of Health Stores
what are trade unions ? (examples)
they are organisations that represent the interests of employees in a business on issues concerning pay or conditions of employment
examples:
SIPTU-Services Industrial Professional and Technical,
ASTI-Association of Secondary Teachers, Ireland,
TUI-
ICTU-The Irish Congress of Trade Unions
what is conflict ?
it occurs when the interests of different people in business are in disagreement. This results in one party wanting to achieve something which is in conflict with what the other party wants
what is arbitration ?
it means getting a third party to listen to all sides and then to recommend a solution
list legislative ways to resolve conflict between consumers and businesses ?
national consumer agency ,
small claims court .
list legislative ways to resolve conflict between employers and employees ?
labour relations commission,
labour court,
equality authority,
employment appeals tribunal.
list non legislatives ways to resolve conflict ?
talk
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