People in Business
Define the term business.
Distinguish between commercial and non-commercial business.
Identify and describe the various stakeholders in business.
Explain the role of interest groups in business.
Describe the different relationships that can exist between stakeholders in business, i.e., co-operative, competitive, dynamic and dependent relationships.
Resolving Conflict in the Marketplace
Identify and explain the elements of a valid contract.
Outline the ways in which a contract can be terminated.
Describe the ways in which a breach of contract can be resolved.
Identify and describe non-legislative methods of resolving consumer conflict.
Outline the legislative methods of resolving consumer conflict.
Identify and describe enterprise in daily life.
Name and outline the characteristics of entrepreneurs and enterprising people.
List and explain the skills of entrepreneurs and enterprising people.
Define intrapreneurship and outline the ways in which it can be encouraged.
Management Skills 1: Leading
Define leading as a management skill.
Outline the features of autocratic, democratic, and laissez-faire leadership styles.
Describe the advantages and disadvantages of autocratic, democratic, and laissez-faire leadership styles.
Describe delegation and the advantages it brings to an organization.
Management Skills 2: Motivating
Describe the motivational theories of Maslow and McGregor.
Outline the importance of motivation as a management skill.
Management Skills 3: Communicating
Explain the role of communication in business and management.
Describe the principals of effective communication.
Distinguish between verbal, written and visual communication.
Describe the different methods of communication.
Identify and explain the main barriers to effective communication.
Human Resource Management
Define human resource management.
Explain the functions of a human resource manager (human resource planning, recruitment and selection, training and development, performance appraisal, rewarding employees & employer-employee relationships).
Describe the reasons for change in business.
Outline the reasons why employees resist change and the strategies used to overcome this resistance.
Describe the changing role of a manager from controller to facilitator.
Understand the importance of employee participation.
Outline the steps in team formation.
Managing A Business And A Household: Insurance
Describe how a business and business manage risk
Outline the principals of insurance.
Describe the different types of insurance for a household and a business.
Explain the similarities and differences between insurance for a house and a business.
Identifying Business Ideas
Identify and contrast the main sources of ideas for new and existing businesses.
Explain the term market research.
Outline the reasons for conducting market research.
Identify and describe the different methods of obtaining information about the market.
Explain the importance of carrying out market research.
Explain the term marketing.
Identify the main elements of a marketing strategy.
Outline the methods and benefits of market segmentation.
Explain the term target market and niche marketing.
Explain and evaluate the elements of the marketing mix (product, price, place, and promotion).
Getting Started In Business
Describe the different business structures available to new businesses.
Identify and explain the factors affecting the choice of business location.
List the main sources of finance available for new businesses.
Identify and describe methods of production, i.e., job, batch, and mass production.
Categories Of Industry
Identify and explain the factors of production and their associated rewards.
Recognize and illustrate the categories of industry: primary, secondary, and tertiary.
Understand and explain the trends and challenges affecting the primary, secondary and tertiary sectors.
Types Of Business Organization
Identify different types of business organization.
Compare and contrast different types of business organization.
Explain why business change their organizational structure over time.
Distinguish between imports and exports.
Interpret the balance of trade and balance of payment.
Describe the changing nature of the international economy and its impact on Irish business.
Identify and describe the barriers to free trade.
The European Union
Identify and explain the main European Union institutions and policies.
Outline the impact that the main European Union institutions and policies have on Irish businesses.
Describe the decision-making process in the main European Union institutions.
Discuss the benefits and challenges for Ireland as a member of the European Union.