Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Business
Unit 1 & Unit 2
| Term | Definition |
|---|---|
| employers | Hires employees directs them to do work and pays them accordingly to their agreed contract of employments.ie Bill Gates |
| customer | A customer is simply someone who buys a product whether to uses it or to sell it |
| consumer | Are the purchasers or users of goods and services supplied by firms .they try satisfy there wants by buying products and services that are of good quality. |
| Commerial Business | A commerial Business is a profit making business.most business are commerial business .ie Dune stores |
| Non commerial business | There are very few non commerial business . A non Commerial busines is a non profit making business.ie Fas |
| Owners Capital | provided by indiviual people or by organisation like venture capital companies.they become part owners of the business and are entitled to part of any profit made |
| Stakeholders | they are people who are directly involved with a business.they are vital for the running of a business.i.eInvestor Employee |
| risk | An entrepreneur is a person who uses initiative to bring together the factors of production nd bears the risk of loss if it should fail.i.e |
| Employee | Is a person who is directed a job by their employer.They do the work needed to produce and sell all goods or services |
| Entrepeneur | Is aperson who uses initiative to bring together all the resources need to set up a business.no matter the risk.i.e Cully&Sully |
| Stakeholders | The people who play a part in the operating of the business and are affected by its decisions are called stakeholders. i.e suppliers investors |
| Producer | Turns raw materials into finished product.Theuy enter contract with supplier. i.eGlanbia |
| Supplier | Each business depends on a supplier to deliver there material or goods at the right time . the suoolier in turn wants a satisfactory price for their goods .ie Glanbia |
| Negotiation | This is an non legislatice method of resolving conflict between stakeholders.It is a process where both sides enter a series of dicussions with offers and counter offers until they reach an agreement acceptable to both. |
| Concilation | This is an non legislative method of resolving conflict betwween Stakeholders.a third Party is invited |
| Unoffical strike | No notice given to employer . No secret ballot held by workers. Unoffical strikes have no legal protection. |
| Go slow | Workers stay in there job but slow down all operations sometimes making it imposible to run . workers still gone to work are entitled to pay. |
| Offical strike | It is complete withdrawel of Labour . Workers are entiteled to strike pay.Union must carry out secret ballot to go on strike .ie Junior doctors on strike for unfair working hours |
| Work to rule | Workers only carry out the work outlined in there contract.They follow there contracts exactly.No extra work.Ie barman not doing floor work. |
| Shop Steward | Is an elected representitive of the trade union member in a workplace. They also recuits new members. They act as a communication link between the employees and management. |
| Trade Union | It is a body repersenitive employees views with the employers. union members elect a shop steward to repersent them in negotiation with the employer.ie IFA |
| Industrial Relations | Used to describe the relationship between |
Created by:
gerardduffy09
Popular Business sets