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buisness
unit 1 & unit 2
| Term | Definition |
|---|---|
| stakeholders | the people who play a part in the operation of the buisness and are affected by its decisions are called stakeholders. examples, entrepeneurs and suppliers. |
| risk | risk is taken by entrepeneurs when they try to find a gap in the market to set up a buisness. example they could lose their money or lose their idea |
| entrepeneur | an entrepeneur is a person who uses their iniative to bring together all the resources needed to set up a buisness, example cully&sully or steve jobs |
| producer | a producer turns raw materials into finished products. they enter contract with the supplier example Glanbia |
| supplier | each buisness depends on having a supplier to deliver there materials or goods at the right time. the supplier in turn wants a satisfactory price for their goods. example Glanbia |
| employer | a employers job is to hire employees to work for him, they also direct them to do work and pays them according to their agreed contract example, jim bird and gerry dempsey |
| employee | employee is a person who was directed a job by their employer to do the work needed to produce and sell all goods or services |
| customer | a costumer is simply someone who buys something- whether to use it or to re sell it |
| consumers | these are the most important people in the buisness. they are the people for whom the goods or services are provided, without consumers there would be no buisness. |
| loan capital | provided mainly by banks. this moneyhas to be repaid within a certain time, with intrest |
| owners capital | provided by individual people or by organisation like venture capital companies. they become part owners of the buisness and are entitled to part of any profit made |
| grants | a grant is money given, usually by an agency of government which does not have to be repaid as long as certain conditions are fulfilled. the conditions often include a certain number of jobs to be provided. |
| lobbying | this means trying to persuade the decision-maker through an organised campaign, usually involving discussions at which the organisations views are put forward. for example the licensed vinters association |
| condition | a condition is a clause in a contract which is so important that breaking the contract, for example, a wedding cake which is delivered the day after the wedding does not have to be paid for |
| warranty | a warranty is a less important c |
| industrial relations | this is the termused to describe the relations between the management of a firm and its employers. if industrial relations are good their will be a small staff turnover |
| trade unions | A trade union is an organisation that seeks to improve the pay and condition of work or employees. each trade union must have a licence from department of enterprise, trade and employment example a.s.t.i |
| shop steward | the shop steward is the elected representite of the union members in a workplace (communication link) |
| un solicited goods | un solicited goods is where goods are sent to people who have not ordered them and a bill is sent requesting payment for the goods.( inertia selling ) |
| credit note | a credit note is not a refund as it still restricts you to shopping in that shop. |
| small claims court | a small claims court is where you bring a case which is worth €2000 or less and pay a fee of €15. no solicitors are in order |
| coveat emptor | research the range of products available compare the quality & prices of the altenative |
| industrial relations | industrial relation is a type of official strike that covers all your legal rights. employees still get paid and has to be brought through the ictu |
| trade unions | a trade union is an organisation that seeks to improve the pay and conditions of work of employees. each trade union must have a licence from department of enterprise, trade and employement example a.s.t.i |
| shop steward | the shop steward is the elected representitive of the trade union members in a workplace |
| industrial relations | this is the term used to describe the relations between the management of a firm and its employers if industrial relations are good their will be a small staff turnover |
| negotiation | negotiation is a process of barganing to try and come up with a mutally accepted agreement , employers are represented by their union. this involves compromise with partys giving up something in order to reach an agreement |
| concilliation | this is where a third party assist the employers and empoyees in resolving their difficulties through continued negotiation an agreement if reached is not legally binding but may solve the dispute |
| work to rule | workers only carry out the workspecified in their contract |
| unfair grounds for dismissal | pregnancy, race, membership, of the travelling community, age, orientation, religous beliefs |
| fair grounds for dismissal | worker misconduct, worker incapable of doing the job or not suitably qualified. necessary redundancy |
| remedies for unfair dismissal | re instatement in job without finacial loss and/or finacial compensation |
| constructive dismissal | refers to a situation where an employer makes it so difficult for an employee in the workplace that they are forced to stay out or work or leave |
| functions of the equality authority | eliminate discrimination in employment, promote equality of opportunity for all and assist people in bringing complaints under the act. |
| discrimination | is defined as treating one person less favourable than another |
Created by:
adamchesser09
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