Leaving cert business – Philip Curry's Guide To Mastering ...



Chapter 1 Make sure of the TWO relationshipsRemember to use MUTUAL BENEFIT for Cooperative relationshipKnow the basics on each stakeholder.Entrepreneur/ InvestorEmployer/EmployeeProducer/ ConsumerChapter 2 Know Contract elements, termination and remedies for breach.Invitation to Treat last asked 2008Legislative v Non-Legislative methods of conflict resolution.Consumer Acts and functions of CCPC.Merchantable Quality needs reference to Price and DurabilityGuarantee is an Additional benefitKnow SOGSOS Act all partsChapter 3Employment Discrimination: include LESS FAVOURABLE in the answer.Methods of Industrial action.Know Primary and Secondary Picketing.Know Negotiation, Arbitration and Conciliation.Labour legislation and WRCProcedures for a Dismissal under the Unfair Dismissals ActDefine a legitimate trade Dispute and know four REASONS for legitimate disputesChapter 4Watch for Intrapreneurship and know specific examplesDo not confuse Managerial words with entrepreneurial wordsKeep list simple for enterprise characteristics/skills.InnovativeRisk TakerIndependentRealisticConfidentFlexibleChapter 5Know Leadership definitionStyles: Autocratic, Democratic and Laissez Faire.What each one meansResult of each oneKnow Maslow's Hierarchy of human Needs in exact orderKnow Mc Gregor Theory X and YChapter 6Know Principles of good communicationsKnow Barriers to effective communications.Reports, Memo, and letterRemember Data Protection Act can be examined in UNIT ONEMention Technology types first if asked to describe.Chapter 7Planning definition.Benefits of PlanningStrategic, Tactical and Contingency plansSWOT and Mission StatementOrganising: key areasSpan of controlChain of commandDelegationMatrix structure Benefits challenges etcLine Structure Benefits challenges etc.Benefits of OrganisingKnow the features of the three main Control typesStockCreditQualityChecklist for UNIT 4Chapter 8Monitoring the businessFormulaFiguresAnswerComment: trend and accurate analysis needed.Use accurate course knowledge on profitability, Liquidity and Debt- Equity.6 ratios Know Profitability, Liquidity and Debt-Equity inside out.Practise these unaidedDo several past questions.Beware of Users and Importance of financial information.Watch for Limitations of Ratios.Chapter 9Taxation Know exact definitions of Tax types.PAYEVATCorporation Tax.Capital Gains Tax.Capital Acquisitions Tax.Watch for Tax calculation as a SAQ.Practise all previous questions and know how to deal with a taxable voucher.Know tax credit and tax rate.Watch for IMPLICATIONS of a tax on a Business.Answer on specific taxes and not on general taxation points.Chapter 10Finance. Know Matching rule (Source and Need)3 Sources of Finance typesKnow three of each thoroughly.Cash flow forecastsPurpose of CFFSHow to evaluate CFFBe able to fill in blanks on a CFF/Budgets.Know basics of Household Budgeting and how to overcome difficulties.Bank Loan applicationsFactors looked for by banks when assessing loans.Managing a Household V Managing a business (Contrast)Chapter 11Insurance.Know Risk management and Strategies to REDUCE risk in a Business.Know FIVE principles of Insurance. (N/E/E)Average Clause is not a principle (Part of Indemnity) Know Business Types particularly for the ABQ.Know full definition of Proposal Form.Chapter 12HRM Know the functions of HRM especially Staff Development. Know the various definitions particularly under Recruitment and Selection.Be able to link Employee Participation as a general question to the following.IntrapreneurshipEmpowermentDemocratic leadershipFacilitatorDelegationTheory YChapter 13Managing Change.Know Empowerment: risks and opportunities.Total Quality ManagementStrategies used to implement change.Employee involvementJob rotationJob enrichmentJob EnlargementTechnology under the following headings.CostsPersonnelOpportunities.Spring Exam Business 5th yearChecklistChapter 14Identifying OpportunitiesSources of ideas (Internal and external)Market Research definition and purpose.Market Research Techniques. (Primary and Secondary)Stages of New Product Development in order.IG-SI-CD-FS-PD-TM-FLBreakeven charts how to draw. Use this one as your example.UnitsSPPUFCVCTCTRP/L0€50€300,0000€300,0000(€300,000)20,000€50€300,000€400,000€700,000€1,000,000€300,000Draw in x axis at 5000 intervals about 6 square gaps.Draw in y axis in €100,000 intervals about 3 squares gaps.Put in Title at topLabel Units on x axisLabel € on the y axisPlot the FC curve (It will be horizontal)Plot the TC curve using our two points from the table (0, €300,000) and (20,000, €700,000)Join the dots and label the TC curve.Plot the TR curve using our two points from the table (0,0) and (20,000, €1,000,000)Join the dots and label the TR curve.Label BEP where TC and TR intersect.Drop a vertical broken line from BEP to the x axis.Bring a horizontal line from BEP to the y axis.Bring up a vertical broken line from 20,000 units to top of chart.Gap between the vertical broken lines is called the Margin of Safety.Label Profit at present output between the TC of 20,000 units and the TR of 20,000 unitsYou may use broken lines like the example in the manual.We can test our answer by using the BEP formula.FCSPPU-VCPU€300,000€50- €2010,000 unitsALWAYS LABEL CHART FULLY AS PER BOOK EXAMPLEUnitsUnitsSPPUFCVCTCTRP/L0€50€300,0000€300,0000(€300,000)20,000€50€300,000€500,000€800,000€1,000,000€200,00020,000 x €25 = €500,000€300,000€50-€2512,000 unitsChapter 15MarketingMarketing conceptName 4 PsMarketing StrategyBenefits of the Strategy.Read Starbucks example online.Market SegmentationTypes of segmentsBenefits of Segmentation.Niche markets plus examplesGreen markets plus examples.Chapter 16Marketing MixProductDesignPackageBrandingProduct Life Cycle (Chart and Theory)How to extend life cycle (Hint; Use Marketing Mix)PriceFactors when setting price.Pricing Strategies.PlaceDefinition and Channels of DistributionFactors when choosing the correct channel.Chapter 17Promotional MixDetailed definitions on the followingAdvertisingSales PromotionPublic Relations and SponsorshipPersonal SellingExample of Promotion mix (Ryanair)Example of Marketing mix in Action (Nike)Chapter 18Getting startedChallenges of new start up Business.Features of an entrepreneur.Factors when choosing Source of Finance.Know the overlap with Finance chapter.Basic ownership options.Production options (Job, Batch and Mass.)Business Plan.Benefits of a Business Plan.Headings in a Business PlanExampleStakeholders interest in the Plan.Chapter 19Business ExpansionReasons for ExpansionFinance for Expansion especially Debt v Equity.Methods of ExpansionMergerTakeoverStrategic alliance.Franchise (Unit 6)Know a comprehensive definition and pros/cons.Implications of Expansion in short and long term. ................
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