2. Syllabus Structure

Unit 1People in Business

Introduction

Business is primarily concerned with people and their relationships. This sectionintroduces the main parties in business and their roles and it examines how they worksuccessfidly together. It also looks' at areas where their interests may not coincide and howthey may resolve such situations of conflict.

Objective: To enable students to understand the form and the dynamic nature of the relationships between the principal parties in business.

1.1People and their relationships in Business

This includes the dynamic relationship between people in business and their competing business relationships. Other areas include the contractual and non-contractual relationships between people, the interdependence of the groups and the change in the relationships over time. The approach suggested is to focus on the relationship aspect and not to treat each sector in isolation.

Examples: consumers' relationship with producers, entrepreneurs with investors, employers with employees.

The Law of Contract will feature in this section and will include offer and acceptance, consideration and intention to contract, remedies for breach of contract and termination of contract.

1.2Conflicting interests and how they are resolved

Possible areas of conflict between parties in business.

Examples of conflicting interests and how they are resolved could include:

• Problem with consumer and retailer. (Dealing with the problem in a nonlegislative or legislative manner)
• Problem with producer and supplier on delivery of raw materials. (Dealing with the problem in a non-legislative manner)
• Employer / Employee relationship. (Dealing with possible problems)

Some of the more important terms in Unit 1 include:

Legislation:

Sale of Goods And Supply Of Services Act 1980
Industrial Relations Act 1990
Employment Equality Act 1977
Unfair Dismissals Act 1977

Unit 2 Enterprise

Introduction

Enterprise is the source of all business. Innovation is central to business development. Thissection looks at the nature of enterprise, characteristics of enterprising people andassociated skills. Unit 2 also examines the application of enterprise in other areas of lifeand society.

Objective: To enable students to understand the importance of enterprise in business ] and the community.

2.1Introduction and Definition o f Enterprise

Enterprise in personal, business and public life as well as business start-up.

2.2Entrepreneurs and Enterprise Skills

Application of enterprise skills to different situations.

Characteristics of entrepreneurs e.g. risk taking, decision making, adaptability.

Enterprise skills e.g. goal setting, assessment of risk and risk management, time management, innovation, decision making and human relations management.

Enterprise in action (home, school, work, leisure, local community, public service).

Role of enterprise in business start-up and existing business.

Some of the more important terms in Unit 2 include:

Unit 3 Managing 1

Introduction

This section introduces the concept of management. It examines management as a planningand control process. Since management is largely implemented through people, there is afbcus on the management skills of communication, organisation and motivation.

Objective: To enable students to understand the importance of management in business and the community.

3.1Introduction and Definition of Management

Broad definition of management.

3.2Managers and Management Skills

Characteristics of managers e.g. an organisational and systematic approach to work.

Management skills e.g. leading, motivating and communication.

Leadership: to include the ability to achieve results through people. Authoritarian and democratic leadership, directing and delegation.

Motivation theories e.g. the classic theories McGregor, Theory X and Theory Y and Maslow's hierarchy of needs.

Communication e.g. the importance in co-ordinating and building on the strengths of the people in the firm and barriers to effective communication.

Communication skills and methods: to include internal, external, verbal, written, visual and electronic. Factors to consider when deciding on methods of communication.

Communication methods to include internal, external, verbal, written, visual and electronic. Factors to consider when deciding on methods of communication.

3.3Management Activities

Planning to include general and specific objectives and strategic and tactical planning.

Organising structure of organisation, formal and informal staffing, span of control and teamwork.

Controlling to include setting standards and using feedback.

Some of the more important terms in Unit 3 include:

Legislation:

• Data Protection Act 1988

Unit 4Managing 2

Introduction

Management applications are the themes of this unit. It looks at those functions which arecommon to the management of both the household and the business. It examinesorganisational applications, including human resource management, and the changing roleof management.

Objective: To enable students to understand management as it applies to the household and the business.

4.1Household and business manager

Finance: to include simple household and business cash flow, main sources of finance, cost of" finance, current account and applying for a loan.

Insurance: to include principles, risks, and costs, and types of insurance.

Taxation: to include an outline of the main types, basic income tax computations, and principal tax forms.

4.2Human Resource Management

Functions of human resource management to include recruitment, selection and the employer and employee relationships.

Teamwork people development, performance appraisal and reward, career planning.

4.3Changing Role of Management

Managing new relationships. Empowerment of workers. Total quality management. Managing new technologies. The impact of technology on personnel, business costs, and business opportunities.

4.4Monitoring the Business

Use, understanding and interpretation of accountancy and business data.

Basic final accounts and balance sheet. This is to include basic trading profit and loss account and balance sheet. Use of spreadsheets in preparing final accounts. Basic ratio analysis profitability, liquidity ratios and debt / equity ratios.

Some of the more important terms in Unit 4 inlude;

Legislation:

• Industrial Relations Act 1990

Unit 5Business in Action

IntroductionThis unit views business as a living, dynamic entity. It examines a business start-up fromthe generation of the initial idea to the development of the business plan. There is a focuson the relationship between the business and its clients and on how the business mustdevelop in response to changes in the market place.

Objective: To enable students to understand the stages involved in setting up a business enterprise.

5.1Identifying Opportunities

Sources of opportunities Imernal and external, idea generation, brainstorming

New product and service development process. Product screening, concept development, feasibility study, prototype development and testing.

Techniques - desk research, field studies Definition and reasons for carrying out market research.

5.2Marketing

Identifying opportunities. Examines how business ideas may be identified and should help students understand the contribution of marketing to the successful implementation of a product or service from the prototype stage to the completed product or service.

Students should also see how marketing is vital in business in fulfilling the role in idemifying, anticipating and satisfying customer needs. The marketing section focuses on the customer with an emphasis on marketing objectives, strategy and tactics as well as the development of the marketing mix. The student should be able to apply basic techniques of market research to a specific product or service.

The marketing concept includes an emphasis on customer needs. The marketing strategy to include segmentation and target market.

Developing the marketing mix: product, price, promotion and place.

• Product to include design, package, brand and product life cycle.
• Price to include discounts, competition and break-even chart.
• Promotion to include advertising and its functions and types of media. sales promotion, definition and types, Public Relations, - definition and types personal selling.
• Place to include channels of distribution, definitions of retailer and wholesaler and franchising.

5.3Getting started

Getting started examines the considerations involved in setting up a business enterprise. It looks at why individuals wish to set up their own firms and ways of overcoming obstacles. It is envisaged that a wide variety of practical information available could be utilised. The emphasis in sources of finance section should be on the use of information to make informed decisions between alternatives.

Finance options to include:

Three short term, three medium term and three long term sources (both imernal and external) e.g. equity, loans, venture capital and grants. Working capital management. Basic cash flow statement and tax implications. (PAYE, PRSI, VAT)

Ownership options to include:

Choosing forms of ownership and implications of choice. Basic introduction to sole trader, partnership and Limited company.

Production options to include types of production, job, batch and mass.

Business Plan to include purpose, importance and layout.

5.4Expansion

Reasons for expansion

Finance for expansion to include equity and loan capital.

Short and long term implications of expansion.

Three methods of expansion home and abroad to include growth and acquisition/takeover.

Some of the more important terms in Unit 5 include:

Legislation:

• Consumer Information Act 1978

Unit 6Domestic Environment

Business does not operate in a vacuum. It is' part of the wider economic system. Thissection looks at the different types of industry and business in the context of the local andnational economy. It also examines the relationship between business and government.

Objective: To enable students to understand the interaction between business firms, the local community, the Government and the economy.

6.1 Categories of industry

Agriculture, manufacturing, services and natural resources, an overview of their relative importance to the economy and changing trends.

6.2 Types of business organisation

Choosing between alternatives.

Types of Business include sole trader, partnership, private limited company, public limited companies, alliances, franchising, co-operatives, transnationals, state-owned enterprises and indigenous firms. Choosing between alternatives. The regulations of forming a private limited company only.

Changing trends in ownership and structure in the Irish economy. Examples: Co-operative to PLC and semi-state body to PLC.

Setting up, opportunities and risks attached (limited liability), differences. hnplications of choice.

6.3Community Development

Local community and business - how the local community benefits from local business. Community development incorporating local community initiatives. Leader programmes, County Enterprise Boards, F.A.S. community enterprise schemes.

6.4Business and the economy

The impact of the economy on business. The general impact of economic variables like inflation, exchange rates and levels of unemployment on business costs. Example: The impact of a strong Irish punt on trading abroad.

6.5Government and business

An introduction to the Government's role in business; the Government's role in creating a climate for enterprise. Taxation and interest rates, infrastructural development and industrial policy and its impact on business. Role of the Government as employer. Privatisation.

6.6 Social responsibilities of business

Business ethics. Codes of ethics for business. The environmentally conscious company, opportunities and costs.

Socially responsible business and the positive contribution of business to local areas (sponsorship sports, art, culture). The impact of business on the economy, on the community and on the local environment.

Some of the more important terms in Unit 6 include:

Legislation:

• Companies Act 1990 (as it relates to Private Limited company formation only).

Unit 7International Environment

IntroductionIreland is open to economic, social and cultural trends from abroad and the internationalenvironment has a major impact on Irish business. This section introduces theinternational trading environment and developments" in international business. It alsofocuses on Ireland's membership of the European Union.

Objective: To enable students to understand the opportunities and challenges facing ....... I Irish business in the international environment. I

7.1Introduction to the international trading environment

Ireland as an open economy. Reasons for international trade. Introduction to the effects of the changing world on Irish business. Increased competition arising from free trade as a result of changes in trade agreements, deregulation and political developments. Opportunities arising from access to new markets and the challenges to be met.

7.2European Union

This includes an overview of the development and implications of E.U. policies.

An introduction to the following policies: Social Charter, Common Agricultural Policy and Common Fisheries Policy. Competition policies and Monetary union.

An introduction to the following institutions: European Commission, Council of Ministers, European Parliament, Court of Auditors and The European Court of Justice. Consultation process eg. ICTU, IBEC and IFA.

7.3International business

Global marketing includes the building of a product brand and a company image worldwide. eg. motor cars, soft drinks, PC and sports gear industries.

The globalisation of markets and information technology as the main sources of change in the current business environment. The growth and importance of multinational companies.

Some of the more important terms in Unit 7 include: