Leaving Certificate Business, Essential Revision Notes

Table of Contents

Business-Unit 1 3

Chapter 1-People in Business 3

Chapter 2-Consumer Conflict 8

Chapter 3-Industrial Relations Conflicts 11

Unit 2 20

Enterprise 20

Unit 3 23

Chapter 5-Management 23

Chapter 6-Management Skills 1 25

Chapter 7-Communications 29

Unit 4 37

Chapter 8-Management Activities 37

Chapter 9-Human Resource Management 48

Chapter 10-Change 56

Chapter 11-Insurance and Tax 62

Chapter 12-Finance 71

Unit 5 82

Chapter 13-Business Ideas 82

Chapter 14-Business Start-up 85

Chapter 16-Marketing 1 90

Chapter 16 Marketing (2) 98

Chapter 17-Business Expansion 104

Unit 6 109

Chapter 18-Business Organisations 109

Chapter 19-Categories of Industry 117

Chapter 20-Business, The Economy and Government 119

Chapter 21-Community Development 124

Chapter 22-Social Responsibility 126

Unit 7 131

Chapter 23-International Trade 131

Chapter 24-European Union 138

Chapter 25-Global Business 145

Business-Unit 1

Chapter 1-People in Business


Stakeholders-Anyone affected by how a business is run

List of Stakeholders:

  1. Entrepreneur
  2. Investor
  3. Employee
  4. Employer
  5. Producer
  6. Consumer
  7. Service Provider
  8. Interest Group
  9. Entrepreneur-An entrepreneur is someone who spots a gap in the market and takes the initiative to set up a business to make money from that opportunity. He takes a big risk (both financial and personal) in doing so.

Examples of Entrepreneurs-Bill Gates (Microsoft)

  1. Investor-A person who gives capital to the entrepreneur that is needed to set up the business in exchange for a return on the investment.
  • Investors can also give capital in return for a share (equity capital) and receive a dividend.
  • May also give capital to be paid back with interest (debt capital)

Example of Investor-Bank of Ireland

  • The entrepreneur and investor have a dependent relationship.
  1. Employer-The person who hires others to work for them. Rewards the employee with pay, bonuses, commission, more holidays etc.

Example of employer-Aer Lingus

  1. Employee-The person who works for an employer in return for a wage. Has essential skills needed to run the...

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