Source: Alan Ryan, B.S.T.A.I.

BUSINESS – STUDY AIDS

MR. T. HENEGHAN AUG 2010
LISTS IN LEAVING CERTIFICATE BUSINESS MADE EASY
ELEMENTS OF A VALID CONTRACT

2009 Short questions Q8 (a)

 Explain the term ‘consideration’ and outline two other
elements of a legally binding contract.
 
2006 Question 1 (c)
 Explain the elements of a valid contract.

2003 Question 1 (b)

 Explain, using examples where appropriate, the
essential elements of a valid contract.
ELEMENTS OF A VALID CONTRACT

Only A Cat In Custody Can L I T R

Offer / Acceptance / Consideration / Intention
to Contract / Capacity to Contract / Consent
to Contract / Legality of Form / Illegal
Contract / Termination of Contract /
Remedies for breach of Contract.
CONSUMER LEGISLATION

 C I A Act 1978
Consumer Information Act 1978
 S O G and S O S Act 1980
Sale of Goods and Supply of Services Act 1980
 ‘C’ comes before ‘S’ in the alphabet so
‘1978’ comes before ‘1980’.
CHARACTERISTICS OF A SUCCESSFUL
ENTREPRENEUR

 2003 Question 4 (b)

Identify the personal characteristics normally
associated with entrepreneurial business people.

 2000 ABQ (a)

Illustrate the enterprising characteristics shown
by Paddy.
CHARACTERISTICS OF A SUCCESSFUL ENTREPRENEUR 

F I L E D double R double C
 Flexibility
 Innovativeness
 Leadership
 Energy
 Decisiveness
CHARACTERISTICS OF A SUCCESSFUL ENTREPRENEUR 

F I L E D double R double C

 Risk taker (moderate ones)

 Realistic (seeks advice)
 Confident
 Communicator (a good one)
SKILLS OF A SUCCESSFUL ENTREPRENEUR
 

2009 ABQ (a)

 Illustrate, using examples from the above text, four
enterprising characteristics/skills shown by Liam.
2007 Question 4 (a)
 Describe three enterprise skills required of an entrepreneur.
2006 Question 4 (c )
 Using examples, analyse the importance of four different
enterprising skills and relate two to business and two to the
community.
SKILLS OF A SUCCESSFUL ENTREPRENEUR
 

2005 ABQ (a)

 Explain, using examples, the enterprising
characteristics/skills shown by Tom.
2004 ABQ (a)
 Explain with illustrations from the above information, four
enterprising skills and/or characteristics shown by Peter.
2003 Question 4 (c)
 Illustrate how entrepreneurial skills might be used to
enhance either the local community or a government
department.
SKILLS OF A SUCCESSFUL ENTREPRENEUR

P R I T skillfully D I P S eM in the water

 Planning & goal setting
 Risk Management
 Innovation skills
 Time management
SKILLS OF A SUCCESSFUL ENTREPRENEUR

P R I T skillfully D I P S eM in the water

 Decision making
 Inner control
 Prioritising
 Stress management
 Managing people
MANAGEMENT ACTIVITIES

2006 ABQ (a)

 Discuss how management activities can help Ruth improve the
performance of the business.
2005 ABQ (c)
 What advice on management activities would you give to Tom in
relation to the new network installation department?
2000 ABQ (b)
 Analyse the management activities used by Paddy in the running
of his successful business.
1999 Question 4 (c)
 “Planning is the most important management activity”. Do you
agree with this statement? Support with reasons and examples.
MANAGEMENT ACTIVITIES

MAPOC
 
 Planning
 Organising
 Controlling
MANAGEMENT SKILLS

2004 ABQ (c)

 Evaluate Peter’s management skills with a
view to him improving his business and
lifestyle.
 
1999 ABQ (c)
 Evaluate how the couple might succeed better
in the business if they improved their
management skills.
MOTIVATION

2007 Short questions Q7

 Maslow identified, in his hierarchical model, ‘self-
actualisation’ as a human need. This means…… and name
two other human needs he also identified.
 
2006 Question 4 (a)
 Describe one motivational theory commonly used in
management.
  
2001 Short questions Q3
 Chart and label Maslow’s Hierarchy of needs.
MOTIVATION

Maslow’s Hierarchy of Needs - the five levels

SESSP

 Self Actualisation Needs (attaining your full potential)

 Esteem Needs (desire for self-esteem)

 Social Needs (need to be liked)

 Safety Needs

 Physical Needs
COMMUNICATION

Reports should be: B EA R I ST

 Brief
 Easy to follow
 Attractive
 Researched
COMMUNICATION

Reports should be: B EA R IST

 Impartial
 Simple language
 on Time
BARRIERS TO EFFECTIVE COMMUNICATION

2008 Question 4 (b)

 Describe the barriers to effective communication in a
business enterprise and suggest methods a business
might consider to overcome two of these barriers.

2005 Question 4 (b)

 “On average managers spend over 75% of their time
communicating”. Explain the factors that ensure
managers communicate effectively.
BARRIERS TO EFFECTIVE COMMUNICATION

2002 Question 4 (a)

 Draft a report to the Managing Director of a limited
company explaining the four main barriers to
effective communications in the business.

1999 Question 4 (b)

 Discuss the main factors to be considered when
deciding on the most effective methods of
communication in business.
BARRIERS TO EFFECTIVE COMMUNICATION

C O L M eFecTively Murmured

 lack of Clarity
 Overuse of technical jargon
 receiver notListening
 too many Messages in one communication

 lack of Feedback

 lack of Trust between sender and receiver

 wrong Medium used.

CHARACTERISTICS OF A SUCCESSFUL MANAGER

HAP SAD CCC

 Hardworking
 Adaptable
 Proficient at organising, planning and time management
 Self-confident
 Aware of customer needs
 Decisive
 Charismatic towards people so as to motivate them
 Confidence in staff, leading to good staff relations
 Competitive and ambitious
Teamwork - Stages in developing a team

FaSt NiPpy
 Forming:-
group get together
start to get to know each other
leadership guidance vital at this stage.
 Storming:-
conflict between individuals in the group to establish individual personalities.

 Norming:-
group starts to ‘click’
members accept alternative solutions from other group members.
 Performing:-
focussed on the task to be done
act as one unit; not as individuals.
INTERPRETATION OF ACCOUNTS

PG MICC

 Public – possible investment

 Government – Revenue Commissioners
 Managers – monitoring progress
 Investors – shareholders and banks; shareholders interested in
dividend payments while banks looking at loan interest
repayment capabilities and value of fixed assets
 Competitors – to determine how to compete
 Creditors – to see if customer is high risk for credit
MARKETING

Types of advertising media

PECD
Print
 newspapers
 magazines

Electronic
 TV, radio, cinema & internet

Commuter
 bus shelters; lorries; trains; billboards etc..

Direct Mail
SOCIAL RESPONSIBILITIES OF BUSINESS

2008 Question 2 (b)

 “As global warming becomes a reality for the world,
there is an increasing concern for the protection of
the environment”. Illustrate how businesses in
Ireland today could become more environmentally
responsible.

2003 ABQ (b)

 Describe how Clodagh can ensure that Cle-He is an
environmentally conscious company
SOCIAL RESPONSIBILITIES OF BUSINESS

Characteristics of an Environmentally Conscious Firm

C HAOS

Consultation:
 with employees; suppliers; the public etc.. when implementing any new policies that may effect the environment

Honesty:
 when dealing with all stakeholders in relation to environmental issues

Awareness:
 among management and workers of the possible dangers that the firm can cause by it’s actions and thus taking
all necessary precautions to ensure a safer environment
Openness:
 to possibility of implementing new ideas in the workplace to tackle environmental issues
Sensitivity:
 to all environmental issues before making decisions
 may involve conducting a social audit (ie. a checklist that determines if a business is being socially responsible in
it’s actions)