UNIT6 by Scott Beaton

UNIT6 by Scott Beaton https://padlet.com/sb421/UNIT6 Chapters 19-23 en-us 2018-03-07 09:55:02 UTC 2023-11-16 11:58:23 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Lightdecrease.png Industry sb421 https://padlet.com/sb421/UNIT6/wish/239057487 Different firms that produce all output of a product of service

]]> 2018-03-07 09:59:23 UTC https://padlet.com/sb421/UNIT6/wish/239057487 Primary sb421 https://padlet.com/sb421/UNIT6/wish/239057622 Agriculture, forestry, fishing

Advantages:

Employment
Taxes
Exports
Import substitution
CFP + CAP

Trends:

Commodities such as beef and milk have become more expensive, as there is a huge global demand due to the increasing population.
Developments in areas of wind energy and solar power. EU has introduced fishing quotas to prevent overfishing.
Reduction in CAP and CFP payments as Ireland becomes a richer EU country.

]]> 2018-03-07 09:59:50 UTC https://padlet.com/sb421/UNIT6/wish/239057622 Secondary sb421 https://padlet.com/sb421/UNIT6/wish/239058653 Manufacturing, construction

Advantages:

Import substitution
Taxes
Modernising infrastructure and manufacturing

Trends:

Decline in employment due to downsizing or closures.
Increased competition for agribusiness as a result of foreign retailers moving in. ALDI, LIDL.
Increased minimum wage rates mean many companies have moved to Eastern Europe where there is cheaper labour.

]]> 2018-03-07 10:03:05 UTC https://padlet.com/sb421/UNIT6/wish/239058653 Tertiary sb421 https://padlet.com/sb421/UNIT6/wish/239059353 Services

Advantages:

Taxes
Tourism
Good for BOP

Trends:

New taxation such as LPT (Local Property Tax) means that people have less disposable income and thus, reducing sales for business.
Discount retailers make it difficult for small retailers to remain profitable.
The growth of ICT due to FDI has created thousands of jobs in Ireland. Companies such as Intel and Google have set up here.
VAT increases have reduced demand
High commercial rates put pressure on small businesses
Rent increases in cities cause employees to seek higher wages
Successful wage demands in transport sector(Dublin Bus, Luas) lead employees to seek more pay

]]> 2018-03-07 10:05:23 UTC https://padlet.com/sb421/UNIT6/wish/239059353 Factors of production sb421 https://padlet.com/sb421/UNIT6/wish/239061375 Land - fixed, value increases when scarce, rent
Labour - skilled and unskilled, wages
Capital - consumer c., social c., private, fixed c., working c., interest
Enterprise - profit]]> 2018-03-07 10:12:07 UTC https://padlet.com/sb421/UNIT6/wish/239061375 Sole trader sb421 https://padlet.com/sb421/UNIT6/wish/239062897 Advantages:

Easy to form/close
All decisions
All profit

Disadvantages:

Unlimited liability
No continuity of existence
Self-raised capital
Income tax > corporation tax

]]> 2018-03-07 10:17:19 UTC https://padlet.com/sb421/UNIT6/wish/239062897 Partnership sb421 https://padlet.com/sb421/UNIT6/wish/239063739 2-20 partners /// Deed of partnership

Advantages:

Easy to form
Easy to raise finance
Shared losses
Shared expertise

Disadvantages:

Unlimited liability
Conflict
Shared profits

]]> 2018-03-07 10:19:49 UTC https://padlet.com/sb421/UNIT6/wish/239063739 Company sb421 https://padlet.com/sb421/UNIT6/wish/239064335 Separate legal entity set up under the Companies Act 1963-2009 for the purpose of carrying out business activity

PRIVATE LIMITED COMPANY:

Board of directors
1-149 shareholders
Certificate of incorporation
No shares to public/on stock exchange

]]> 2018-03-07 10:21:43 UTC https://padlet.com/sb421/UNIT6/wish/239064335 LTD. sb421 https://padlet.com/sb421/UNIT6/wish/239064738 Advantages:

Limited liability
Separate legal entity
Easy to raise finance
Low corporation tax

Disadvantages:

Costly to form
Shared profits
Accounts must be published

]]> 2018-03-07 10:23:10 UTC https://padlet.com/sb421/UNIT6/wish/239064738 Formation of LTD. sb421 https://padlet.com/sb421/UNIT6/wish/239064944

Documents to Registrar of companies - MOA and AOA

Form A1 - list of directors + consent, declaration of compliance with acts, statement of authorised and issued share capital

Documents and fees to registrar

Certificate of incorporation is issued

Statutory meeting held - present MOA and AOA to shareholders, appoint directors and auditors, give share certificates, open bank a/c

Incorporated - separate legal entity, limited liability, can begin trading

]]> 2018-03-07 10:23:56 UTC https://padlet.com/sb421/UNIT6/wish/239064944 PLC sb421 https://padlet.com/sb421/UNIT6/wish/239065476 7+ shareholders /// can sell shares to public and on stock exchange

Advantages:

Easy to raise finance
Limited liability
Continuity of existence

Disadvantages:

Costly to form (€400,000+)
Profits are shared
Accounts are published

]]> 2018-03-07 10:25:29 UTC https://padlet.com/sb421/UNIT6/wish/239065476 Franchising sb421 https://padlet.com/sb421/UNIT6/wish/239065759 Method of marketing via a proven business formula licensed from franchiser to franchisee

Advantages to franchiser:

Easy form of expansion
Less direct investment
More profits

Advantages to franchisee:

Attract customers
Reduced business risk
Economies of scale
No competition
Training and advice

Disadvantages to franchisee:

Lack of ownership
Must raise capital
All financial risk

]]> 2018-03-07 10:26:22 UTC https://padlet.com/sb421/UNIT6/wish/239065759 Co-operative sb421 https://padlet.com/sb421/UNIT6/wish/239066444 Open membership, democratic, profits in proportion to amount of trade

Formation:

7+ members
Registrar of Friendly Societies
Incorporated under the Industrial and Provident Societies Acts 1893 - 2014

]]> 2018-03-07 10:28:49 UTC https://padlet.com/sb421/UNIT6/wish/239066444 Multinational Companies sb421 https://padlet.com/sb421/UNIT6/wish/239066669 Headquarters in one country: operates in many countries

Why:

Low tax
Eu free trade
English + highly-skilled
IDA Ireland

Advantages:

Employment
Exports / import substitution
Tax revenue

Disadvantages:

Repatriate profits
Closures = unemployment

]]> 2018-03-07 10:29:34 UTC https://padlet.com/sb421/UNIT6/wish/239066669 State businesses sb421 https://padlet.com/sb421/UNIT6/wish/239067165 Electric Ireland, CIÉ, Fáilte Ireland

Advantages:

Services in unprofitable areas
Control certain services
Employment
Tax revenue
Finance req. is too high for private enterprise

]]> 2018-03-07 10:31:04 UTC https://padlet.com/sb421/UNIT6/wish/239067165 Benefits sb421 https://padlet.com/sb421/UNIT6/wish/239067497

Job creation

More disposable income

Greater demand for housing

]]> 2018-03-07 10:32:15 UTC https://padlet.com/sb421/UNIT6/wish/239067497 Area Partnership Companies/Local Development Authorities sb421 https://padlet.com/sb421/UNIT6/wish/239067802 Eg. Ballymun - support enterprise and quality of life in urban areas

Aim:

Creating jobs by promoting economic projects
Training(career guidance, CV prep)
Placements on work experience schemes(eg with Tús)
Financial support - grants and loans

Pobal:

State agency that distributes national and EU funding
Funds APCs

]]> 2018-03-07 10:33:14 UTC https://padlet.com/sb421/UNIT6/wish/239067802 Local Enterprise Office - County Enterprise Boards sb421 https://padlet.com/sb421/UNIT6/wish/239068201 31 offices

Aim:

To help small enterprises and encourage local initiatives

Functions:

Funding + Advice on funding
Training
Mentoring entrepreneurs
Advice on local authority, planning and the environment

Grants:

50% of €150,000 of total capital req.
75% of €5,000 of cost of feasibility study

]]> 2018-03-07 10:34:46 UTC https://padlet.com/sb421/UNIT6/wish/239068201 Studyclix sb421 https://padlet.com/sb421/UNIT6/wish/244434930 2018-03-21 10:20:23 UTC https://padlet.com/sb421/UNIT6/wish/244434930 MOA and AOA sb421 https://padlet.com/sb421/UNIT6/wish/247585537 MOA:

external relationship

Clauses:

must end name with PLC or Ltd
objects of the company must be specified - carrying out other activities is illegal and known as acting ultra vires
statement that company has limited liability
statement of amount of authorised share capital
signed by each subscriber who has agreed to form the company (agree to take shares listed by their name)
location of registered office

AOA:

internal rules
not compulsory as companies can adopt a model AOA known as Table A

Contents:

statement of authorised share capital
voting rights of each class of shares
procedure for issuing/transferring shares
procedure for calling meetings
procedure for electing/replacing directors
procedure for winding up the company

]]> 2018-03-31 09:53:56 UTC https://padlet.com/sb421/UNIT6/wish/247585537 LEADER sb421 https://padlet.com/sb421/UNIT6/wish/247657749 EU funded programme to encourage and assist rural communities to develop enterprises

Aim:

Improve competitiveness of agri- and forestry business
Improve environment and quality of life
Encourage diversification - eg. Baldwin’s farmhouse ice-cream

Funding:

Market research, prototype development and feasibility studies

Themes:
Economic Development, Enterprise Development

and Job Creation:

Rural Tourism
Enterprise Development
Rural Towns
Broadband

Social Inclusion:

Basic Services targeted at hard to reach communities
Rural Youth

Rural Environment:

Protection and sustainable use of water resources
Local Biodiversity
Renewable energy

]]> 2018-04-01 10:39:53 UTC https://padlet.com/sb421/UNIT6/wish/247657749 Effect on labour sb421 https://padlet.com/sb421/UNIT6/wish/251495757

Biggest employer - March 2012 - 130,000 public service

FDI - Enterprise Ireland + IDA Ireland

Training - government funding

Infrastructure - boost construction industry

PAYE reductions - makes employment attractive

IT in education - skilled population

]]> 2018-04-13 11:18:42 UTC https://padlet.com/sb421/UNIT6/wish/251495757 Business climate sb421 https://padlet.com/sb421/UNIT6/wish/251496650 Education and training
PAYE rates
Privatisation
Social partnership - centralised wage agreements
Enterprise Ireland - grants - creates employment ]]> 2018-04-13 11:22:23 UTC https://padlet.com/sb421/UNIT6/wish/251496650 Impact of taxation sb421 https://padlet.com/sb421/UNIT6/wish/251776738 Sales: High income taxes and VAT reduce disposable income and demand.

Costs: High income tax and PRSI encourage works to seek higher wages. High corporation tax reduces profits and businesses may move abroad. Collecting taxes incurs financial costs for employer.

Business confidence: High taxes discourage businesses from expanding or coming to Ireland. High PRSI deters people from working. ]]> 2018-04-14 09:46:57 UTC https://padlet.com/sb421/UNIT6/wish/251776738 Impact of expenditure sb421 https://padlet.com/sb421/UNIT6/wish/251778311 Sales: More government investment results in more money in the economy.

Costs: Spending on infrastructure and services reduces business costs. However, unnecessary investment must still be paid for with taxation.

Business confidence: Investment boosts confidence, unless it is unnecessary/involves borrowing, as this must be repaid.]]> 2018-04-14 10:03:54 UTC https://padlet.com/sb421/UNIT6/wish/251778311 Government support for business: sb421 https://padlet.com/sb421/UNIT6/wish/251778589 Enterprise Ireland - supports development and growth of indigenous firms. Concentrates on businesses with more than 10 staff who have possibility to enter export market.

Helps with:

Market research
Product development
Business strategy
Management skills
Networking
International sales and marketing
Grants and venture capital investment

IDA Ireland - attracts FDI to Ireland, especially if they are export-oriented.

Supports:

Promotes Ireland to investors
Provides advice about setting up in Ireland
Sources premises for FDI
Grant and financial supports for equipment and training
Networking

]]> 2018-04-14 10:07:20 UTC https://padlet.com/sb421/UNIT6/wish/251778589 Impact of government services sb421 https://padlet.com/sb421/UNIT6/wish/251779414 Sales: Advice and grants improve competitiveness.

Costs: Finance and advice reduce start-up costs and help to ensure business survival. Grants for expansion help to increase profitability.

Business confidence: Advice encourages entrepreneurs to take risks.]]> 2018-04-14 10:20:54 UTC https://padlet.com/sb421/UNIT6/wish/251779414 Impact of laws/Regulation of businesses sb421 https://padlet.com/sb421/UNIT6/wish/251779669 Employment/Industrial Relations: prevents discrimination and unfair dismissals.
Unfair Dismissals Acts 1977-2015, Employment Equality Acts 1998-2015, Industrial Relations Act 1990, Health and Safety Authority

Consumer protection: stops unfair practice and misleading advertising.
Sale of Goods and Supply of Services Act 1980, Consumer Protection Act 2007, CCPC

Data protection: require businesses to abide by conditions in relation to storing information on private individuals.
Data Protection Acts 1988-2003

Companies: Companies Act 2014 ensures companies are set up correctly and monitored by Companies Registration Office.

Other:

CCPC - fair competition
EPA - environmental laws
Commission for Energy Regulation (CER) - regulates competition in energy supply market

]]> 2018-04-14 10:24:43 UTC https://padlet.com/sb421/UNIT6/wish/251779669 Public sector sb421 https://padlet.com/sb421/UNIT6/wish/251780091 All government organisations owned/financed by the state, e.g. civil service, semi-states, hospitals, schools. Protect public interest, usually without profit.

Impact:

Job creation(18% of workforce)
Taxation - more people employed results in higher expenditure and taxation.
Wages - boosts economy through sales.

]]> 2018-04-14 10:31:14 UTC https://padlet.com/sb421/UNIT6/wish/251780091 Private sector sb421 https://padlet.com/sb421/UNIT6/wish/251781117 Economic activities not owned by State]]> 2018-04-14 10:47:25 UTC https://padlet.com/sb421/UNIT6/wish/251781117 Public-Private Partnerships sb421 https://padlet.com/sb421/UNIT6/wish/251781161 Agreements where private sector owns and operates a service on behalf of government, for a profit.
Usually agreements last for a fixed number of years and then ownership passes back to State.
EG: M3 toll motorways]]> 2018-04-14 10:48:06 UTC https://padlet.com/sb421/UNIT6/wish/251781161 Privatisation vs Nationalisation sb421 https://padlet.com/sb421/UNIT6/wish/251781315 State companies:
Commercial - provide service for a price (RTÉ, ESB)
Non-commercial - services are seen as essential (IDA Ireland, WRC)

Privatisation: selling state companies(fully or partially) to private sector, eg National Lottery.
Nationalisation: transferring ownership to state, eg state nationalising banks to prevent their collapse.]]> 2018-04-14 10:50:15 UTC https://padlet.com/sb421/UNIT6/wish/251781315 Assessment of privatisation sb421 https://padlet.com/sb421/UNIT6/wish/251781507 For:

private firms are free from political interference.
private firms reduce waste and inefficiency.
better quality and price for consumers
private firms find it easier to raise finance for expansion.
raises money for government.
ideological - leave business to private sector.

Against:

nationalisation protects services.
ownership of strategic industries to protect against purchase by foreign companies who aren't loyal to Ireland.
protecting employment.

]]> 2018-04-14 10:53:23 UTC https://padlet.com/sb421/UNIT6/wish/251781507 Business ethics sb421 https://padlet.com/sb421/UNIT6/wish/251781901 Moral rules that guide decision making; helping to make decisions that are right, regardless of profits.

Reasons for unethical decisions:

Greed - more profits.
Fear - employees are afraid of demotion, pay cuts, job losses.
Apathy - lack of leadership leads to an 'anything goes' attitude.
Bad example set by managers
Lack of regulations - no punishments.

Encouraging ethical behaviour:

Code of ethics - document setting out guidelines to follow when making decisions - may be signed by staff and used as grounds for dismissal.
Encouraging employees to report unethical behaviour - removing fear and the need for whistleblowing.
Senior managers must lead by example
Clear disciplinary procedures - penalties to deter unethical behaviour and rewards for being ethical.
Staff training

]]> 2018-04-14 10:59:47 UTC https://padlet.com/sb421/UNIT6/wish/251781901 Corporate social responsibility sb421 https://padlet.com/sb421/UNIT6/wish/251782505 Obligation of business to act in the interest of all stakeholders.

Employees:

No discrimination
Fair and safe conditions
Secure employment
Challenging work

Investors:

Open and honest information
Fair dividend
Accurate financial accounts
No excessive salaries to managers
Follow MOA and AOA

Suppliers:

Fair negotiations - no pressure
Pay debts in full and on time
Honour all agreements and contracts
Avoid suppliers using child labour or other unethical practices

Customers:

Abide by legislation
Truthful advertising
Fair prices
Safe, reliable products
Uphold right to complain

Government:

Collect and pay all taxes
Obey all local, national and EU laws
No bribery or corruption

Community:

No pollution
Protect quality of life (traffic, noise)
Support employment
Support local suppliers
Sponsor local activities

Society and the planet:

Minimise pollution and be environmentally sustainable
No trading with corrupt governments
Do not produce undesirable products (cigarettes, landmines)
Compete ethically and fairly
Transparency
Support good causes

]]> 2018-04-14 11:09:57 UTC https://padlet.com/sb421/UNIT6/wish/251782505 Environmentally sustainable business sb421 https://padlet.com/sb421/UNIT6/wish/251783279 Business that can continue indefinitely without causing permanent harm to environment for future generations.

Important issues:
Climate change - more severe weather conditions, melting ice caps, rising sea levels.
Energy - possibility of shortages once fossil fuels are exhausted.
Waste - dumping contaminates soil and incineration releases harmful chemicals - must reduce, reuse, recycle.
Pollution - waste emissions damage human and animal health, especially through waterways.
Destruction of natural resources - destruction of habitats leads to extinction.

Characteristics of a environmentally responsible business:

Produce durable goods - not producing goods so that they wear out quickly.
Produce in a sustainable manner:
- Locate away from ecologically sensitive areas
- Become energy efficient and renewable
- Eliminate pollution and waste - Supervalu are first Irish supermarket to offer bio-degradable bags
- Seek the advice of the EPA - law requires new business developments to carry out an Environmental Impact Assessment - looks at expected effect of business on environment and locality.
- Goods should not have unnecessary packaging.
Plan for disposal after use - goods should be easy to reuse, repair and recycle.
Conduct regular environmental audits - studies into impact on environment.

]]> 2018-04-14 11:22:01 UTC https://padlet.com/sb421/UNIT6/wish/251783279 Costs of meeting social and environmental responsibilities sb421 https://padlet.com/sb421/UNIT6/wish/251786705

Paying fair wages costs more

Honest information may reduce how much investors are willing to invest

Truthful advertising may reduce sales

Sustainable production equipment is expensive

Fair competition reduces profits

Obeying tax laws reduces profits

]]> 2018-04-14 12:09:40 UTC https://padlet.com/sb421/UNIT6/wish/251786705 Benefits of meeting social and environmental responsibilities sb421 https://padlet.com/sb421/UNIT6/wish/251786967

Proper waste management saves money in long term

Avoidance of fines and scandals

Attracts customers

Easier to recruit skilled staff

Easier to access finance

Improved marketing promotion

]]> 2018-04-14 12:12:52 UTC https://padlet.com/sb421/UNIT6/wish/251786967 SOLAS sb421 https://padlet.com/sb421/UNIT6/wish/251867667 Introduced in 2011 to replace Fás
Education and Training authority

Functions:

The Department of Social Protection will be responsible for community employment schemes.
The Department of Education and Skills will be responsible for training and education and will provide courses linked to the needs of the labour market.
- This involves preparing job seekers for the job market.

]]> 2018-04-15 10:21:41 UTC https://padlet.com/sb421/UNIT6/wish/251867667 Definiton of economy ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251883535 Economy - The legal, political and social framework within which business is conducted.]]> 2018-04-15 13:32:55 UTC https://padlet.com/sb421/UNIT6/wish/251883535 Types of Economies ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251883970 Open economy -
Economy in which people and businesses can own the factors of production and trade in goods and services - buying, selling, importing and exporting.
E.g Ireland, UK, America.
In open economy, everyone in the state is free to open a business. (wider choice of high quality goods/services).

Mixed Economy -
Exists when both gov. and private enterprise own factors of production.

Controlled economy (Centrally planned economy) -
Where gov. owns all factors of production and controls all economic activity e.g China,Iran.

]]> 2018-04-15 13:37:27 UTC https://padlet.com/sb421/UNIT6/wish/251883970 Economic variables ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251884410 Characteristics of economy that is doing well -

Profits are high.
Low unemployment (skilled workers have jobs, wage increase)
Inflation & interest rates are low.
Balance of payments in surplus.
Gov. has budget surplus.
New entrepreneurs set up businesses.

Economic variables that have an effect on economy -

Interest rates
Inflation
Exchange rates
Taxation
Subsidies and grants
Employment and unemployment

]]> 2018-04-15 13:42:09 UTC https://padlet.com/sb421/UNIT6/wish/251884410 Interest Rates ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251885504 Definition - The amount of interest charged by bank/financial institution for giving a loan. Price that borrower has to pay for use of the money.

Money saved in bank by customer is a loan to the bank.
Bank uses the money to give loans to other customers.
Margin = Interest rate charged - Interest rate paid (5% - 2% = 3%)

Impact on business of an interest rate increase -

Borrowing would become expensive.
Firms might decide not to borrow. (restricts business expansion)
High inflation, reduces consumer demand because of loss in value of disposable income.
High interest rates on savings accounts, attract savings.

]]> 2018-04-15 13:53:48 UTC https://padlet.com/sb421/UNIT6/wish/251885504 Inflation ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251885799 Definition - Sustained increase in the level of selling prices over specified period e.g month, measured by Consumer Price Index (CPI).
E.g Inflation is 6% means 6% higher than previous year.

Increase in prices = decrease in value of money.

Impact of high inflation on enterprise/economy -

Higher cost of raw materials, therefore increase in selling prices. Firms less competitive. Decline in sales and profits may lead to job losses.
Cheaper supply of raw materials from abroad. Increase in imports, effect on balance of trade and balance of payments.
People may prefer to invest in property rather than business.
Unions will try increase wages.
Decline in export sales. Negative impact on balance of trade.

Impact of low inflation on enterprise/economy -

Firms borrowing for capital expenditure purposes e.g machinery. Job creation.
Manufacturing/wage costs not increasing. Firms remain competitive.
Entrepreneurs willing to invest in new business ventures. Job creation.
Reduction in selling prices.

]]> 2018-04-15 13:56:53 UTC https://padlet.com/sb421/UNIT6/wish/251885799 Exchange rates ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251886549 Definition - Price of particular currency when expressed in another currency.

Fixed exchange rate -
No currency losses when payments are received/paid.

Floating exchange rate -
Impossible to predict the exchange rate that will exist when payments have to be made.

Balance of trade =
visible exports - visible imports

Fall in euro = cheaper exports, dearer imports. vice versa.

Foreign tourists very conscious of exchange rates so they can plan their holiday financially. Receipts from tourists make significant contribution to Ireland's balance of payments.

]]> 2018-04-15 14:03:45 UTC https://padlet.com/sb421/UNIT6/wish/251886549 Taxation ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251887319 Tax - compulsory contribution to exchequer to meet expenses of gov.

Effects of taxation :
Business enterprises -
Reduces amount of profit available for reinvestment.
Consumers -
VAT increase = reduce demand for certain products, sales decline.
Wage earners -
PAYE = direct tax. Reduces disposable income.]]> 2018-04-15 14:11:25 UTC https://padlet.com/sb421/UNIT6/wish/251887319 Subsidies & grants ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251887682 Subsidies - payment of money by gov. to a firm.

e.g - state pays subsidy to CIE, enables CIE to continue providing services that are unprofitable (benefits economy).

Grants - non-repayable money received by business from gov. or EU to increase it's competitiveness. Some grants have to be repaid.

Firms have been attracted to locate in Ireland because of large number of grants available from Enterprise Ireland.

EU provide grants e.g

European Regional Development Fund.
European Social Fund.
European Cohesion Fund.

]]> 2018-04-15 14:14:45 UTC https://padlet.com/sb421/UNIT6/wish/251887682 Employment and Unemployment ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251888066 Effects of increasing unemployment on Ireland's economy -

Sales/profits reduced. Some businesses close down.
Unemployed people have less disposable income.
Gov. current expenditure increases because of dole/social protection payments. Keeps taxation levels high.
Social problems e.g crime,drug use. Gov. increase spending on law and order and hospitals.
Gov revenue from PAYE reduced.
Gov revenue from VAT reduces.
Increase in emigration.

]]> 2018-04-15 14:18:14 UTC https://padlet.com/sb421/UNIT6/wish/251888066 Impact of business on economy ArnoldLAD https://padlet.com/sb421/UNIT6/wish/251888517 Employment -
Helps improve living standard of people.

Taxation -
Exchequer collects tax :

Corporation tax (12.5%).
Tax from employees.
VAT from consumers (23%).

Environmental issues -
Business responsibilities to environment :

Must adhere to regulations on disposal of waste.
Manufacturers must ensure there its production do not cause pollution that could damage environment/quality of life of employees/general public.

]]> 2018-04-15 14:22:12 UTC https://padlet.com/sb421/UNIT6/wish/251888517 sb421 https://padlet.com/sb421/UNIT6/wish/252644524 2018-04-17 16:02:51 UTC https://padlet.com/sb421/UNIT6/wish/252644524 sb421 https://padlet.com/sb421/UNIT6/wish/252644690 2018-04-17 16:03:10 UTC https://padlet.com/sb421/UNIT6/wish/252644690 sb421 https://padlet.com/sb421/UNIT6/wish/252644882 2018-04-17 16:03:33 UTC https://padlet.com/sb421/UNIT6/wish/252644882 Encouraging business sb421 https://padlet.com/sb421/UNIT6/wish/252897709 Decreases in taxation: PAYE reductions give people more disposable income. Corporation tax reductions improve profits, allowing for growth. VAT reductions increases demand

Increases in state expenditure: more infrastructure is good for business. Also creates jobs.

State agencies: advice, guidance, training, mentoring, grants - Enterprise Ireland, Industrial Development Authority(IDA) Ireland, SOLAS, Fáilte Ireland, LEO

Government planning: forward planning reduces uncertainty - national wage (€9.55 minimum wage) agreements involving social partners allow businesses to predict their future wage costs - decreases risk of industrial relations problems.]]> 2018-04-18 08:55:48 UTC https://padlet.com/sb421/UNIT6/wish/252897709