Leaving Certificate Business, Essential Revision Notes
Table of Contents
Stakeholders-Anyone affected by how a business is run
List of Stakeholders:
- Service Provider
- Interest Group
- 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)
- 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.
- 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
- Employee-The person who works for an employer in return for a wage. Has essential skills needed to run the...