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Unit 1 and 2

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Term
Definition
Customer   show
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Employer   show
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show Is a process in which two sides which have conflicting demands work througha serious  
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show A Trade Association represents a business which are in the same trade or line of business  
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Offer   show
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show The peoplewho play a part in the operation of a business and are effected by it's decision are called stakeholders e.g Cully and Sully, Orla Kielly  
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show An Entrepreneur is a person whouses intiative to bring together all the resources needed to set up a business and bears the risk of loss if it should fail e.g Ryanair  
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Producer   show
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Supplier   show
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show These service are vitally important for the business to operate efficiently. The business needs a good quality service delivered reliably at low cost e.g Eircom  
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show Using methods which are not based on laws or on institutions which are set up under laws, For example, Discussing an issue and reaching an agreement  
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show Using the force of law, or some institution set up by law to resolve the conflict  
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show Often, Entrepreneur will not have enough money to get the business established. So they have to convince investers to risk their money on the venture  
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show Businesses employ people to do the work needed to produce or to sell the goods or services. In return the employees recieve wages and other benifits  
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show A Consumer is a person who buys a good or service fot their on use and not for re-sale  
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show The Government is a stakeholder in business on behalf of the general public.  
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Interest group   show
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show This represents businesses which are in the same trade or line of business E.g Irish Farmers Association(IFA)  
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Contract   show
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show This is a quick, cheap and effective way of resolving a consumer dispute involving up to £2000. The consumer can bring the complaint to the District Court for a fee of just £15  
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show Is a way of ending a contract. One party breaks a condition in the contract. E.g A wedding cake can turn up the day after the wedding  
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show Is a clause in a contract which is so important that breaking this clause is the same as breaking a contract  
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show A warranty is a less important clause. Breaking a warranty does not break a concract itself  
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Redress   show
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Unsolicited goods   show
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show It takes place when two disputing parties agree to call in a third party, who they both respect and trust  
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Frustration   show
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show This is a way of terminating a contract. Each party agrees to end the contract e.g Couple cancels the cake they ordered for the wedding  
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show A contract may be ended in number of ways e.g Performance each party does what there contracted to do  
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show  
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Created by: bryansmyth10
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