This is the link to the exam questions
Q1 Economic Benefits:
Direct employment/Job Creation. Jobs are directly created in the community reducing
Spin-off employment. With increased employment and increased visitor numbers more
income is being spent in the community increasing spin-off jobs in the retail and services
Enterprise culture. New enterprise is encouraged and promoted. Other new businesses
(“Start-ups”) have set up in the market as confidence grows from the success of a new business
Community spirit/ Sense of pride/ Improved quality of life. The success of new firms
facilitates an improvement in community spirit and social interaction between the different community stakeholders. With prosperity comes a sense of pride in the community as the town’s appearance and amenities improve.
Government actions and policies that restrict or restrain international trade, often done with the intent of protecting local businesses and jobs from foreign competition. Typical methods of protectionism are import tariffs, quotas, subsidies or tax cuts to local businesses and direct state intervention.
Q4 Data subjects
Right of Access
The personal information to which the subject is entitled is that held on computer or in a manual filing system that facilitates access to information about them. They can make an access request to any organisation or any individual who has personal information about them. For example, a person could make an access request to their bank
Right of correction
If a subject finds out that information kept about them by someone else is inaccurate, they have a right to have that information corrected. In some circumstances, they may also have the information erased altogether from the database – for example, if the body keeping the information has no good reason to hold it
Right to complain to the Data Protection Commissioner
If a subject is having difficulty in exercising their rights, or if they feel that any person or organisation is not complying with their responsibilities, then they may complain to the Data Protection Commissioner, who will investigate the matter for them.
Q5 Interest Rates
This is a percentage charged for the use of money
- This is the cost of borrowing.
- It depends on the demand and supply of money.
Two Possible Impacts of low interest rates for Irish Business
- A low interest rate means that it is cheaper for firms to borrow money.
- The business will find it easier to expand and be able to create jobs as it will be cheaper to borrow for investment purposes
- Consumers will borrow and spend more on goods and services as lower interest rates means that mortgage holders will have greater disposable income
Foreign Direct Investment
Human Resources Management
Universal Social charge
European Central bank
Capital gains Tax
(a) Democratic Leadership
The Democratic Leader needs to communicate clearly why change is necessary and the consequences of not taking any action. For example, management could point out that increased competition may lead to a loss of market share and redundancies and that a change in work practices involving greater productivity is a strategy that could prevent this. It will reduce uncertainty and tensions among employees.
Management needs to consult with the employees before introducing change so that employees will be more willing to accept the changes introduced (inputting into the decisions being made).
Management needs to reward employees for embracing change e.g. bonus payments and wage increases for accepting and using new technology.
Function of the LRC
- It provides a conciliation service
This is a voluntary mediation process whereby a third party facilitates the search for agreement between disputing parties, after their own efforts have failed. It has an 80% success rate.
The mediator is known as an IR officer. The aim is to reach a mutually acceptable settlement.
- It helps to set codes of practices
These are standards of good behaviours agreed by the various parties which act as a set of rules to govern the various situations which may arise in Irish Industrial Relations
When two or more independent firms agree to co-operate and share resources and expertise with each other for the mutual benefit of all parties involved.
The firms remain completely independent legally and each firm maintains its own separate trading identity.
Ryanair and Hertz
Ryanair carry 81m passengers who have access to discounted rates at Hertz car hire
This occurs when one company purchases 51% or more of the shares in another company in either a hostile or friendly manner.
The acquiring company absorbs the other company, which loses its identity after the acquisition and becomes part of the acquiring company.The cost of the takeover can be very expensive.
On 19 January 2010, it was announced that Cadbury and Kraft Foods had reached a deal and that Kraft would purchase Cadbury for £8.40 per share, valuing Cadbury at £11.5bn (US$18.9bn). Kraft, which issued a statement stating that the deal will create a “global confectionery leader”, had to borrow £7 billion (US$11.5bn) in order to finance the takeover.
(a) 60,000 x €5 = €300,000
(b) 60,000 x €2 = €120,000 +€48,000 = €168,000
(c) €300,000 – €168,000 = €132,000
(d) BEP €48,000/3= 16,000 units