PEOPLE IN BUSINESS
Business: any organisation set up to provide goods and services. Commercial business: any organisation set up to provide goods and services in order to make a profit. Non-commercial business: an organisation set up to meet some need other than making a profit.
Benefits of Studying Business
Look at the contents of the book.
* Investors (owners’ capital, loan capital, grants)
* Service providers
* The government
Relationship between Stakeholders
Co-operative approach views relationship as a winner/winner situation. Examples in the Employer/Employee relationship:
* Profit-sharing or Share options
* Industrial democracy
* Union recognition
Competitive approach sees a winner/loser situation
* Job security v redundancy
There can be a co-operative and a competitive approach between all stakeholders and between businesses
Interest or Pressure Groups
Definition: representative organisations that achieve results by putting pressure on other organisations.
Main Business Associations
Irish Business and Employers Confederation
Chambers of Commerce
Main Trade Associations
ITAA (travel association)
Other Interest Groups
Consumer Association of Ireland
National Consumer Association
Conflict in general (in answer to questions beginning with discuss, analyze and evaluate).
Conflict can occur internally and externally.
Outline examples of conflict between stakeholders.
Conflict can be tackled: by negotiation, legislation, or going to court. (Explain these three)
Examples of non-legislative in the marketplace and the workplace are 1. Talk it out 2. negotiation, 3. conciliation, 4. arbitration.
Means gets all sides to a conflict to discuss their differences and to try to come to a mutually acceptable agreement.
* Identify your ideal result. * Identify your bottom line.
* Outline what result you were looking for. * Agree non-contentious points. * Haggle. * Know when to stop. * Show respect.
2. Insist on your legal rights (legislative). 3. Contact a conflict resolution agency (small claims court, Office of director of consumer affairs, National Consumer Agency). Also legislative. 4. Go to court. (Also legislative.)...