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CHAPTER 1
PEOPLE IN BUSINESS

Definitions
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.

Stakeholders
* Entrepreneurs
* Investors (owners’ capital, loan capital, grants)
* Suppliers
* Service providers
* Employees
* Consumers
* 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
* Empowerment
* Union recognition
* Training

Competitive approach sees a winner/loser situation
* Wages
* Flexibility
* 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
ISME
Chambers of Commerce
ICTU
IMI

Main Trade Associations
ITAA (travel association)
SIMI
IFA

Other Interest Groups
Consumer Association of Ireland
National Consumer Association
Residents Associations
Greenpeace

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.

Negotiation.
Means gets all sides to a conflict to discuss their differences and to try to come to a mutually acceptable agreement.

Before negotiation.
* Identify your ideal result. * Identify your bottom line.

During negotiations.
* Outline what result you were looking for. * Agree non-contentious points. * Haggle. * Know when to stop. * Show respect.

Four steps.
1. Negotiate.
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.)...
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