Business Relations
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Questions and Answers

Match the following acts and bodies with their descriptions:

EEA 1998-2015 = Defines discrimination, prohibits discrimination, discrimination bases, defines harassment, outlaws harassment, equal pay clause, WRC investigation WRC = Set up under INDRA 1990, advisory service, conciliation service, mediation service, adjudication services, inspection services, investigates EEA 1998-2015 complaints The Labour Court = Investigates complaints as a court of last resort, not court of law, arbitration, codes of practice, registers agreements, set up JLCs, hears WRC adjudication appeals Competition and Consumer Protection Commission = Informs the Consumer, Enforces Consumer Law, Conducts Research Into Consumer Issues, Advises The Government, Assesses Mergers

Match the following consumer protection terms with their definitions:

Goods of Merchantable Quality = Conforms to sample used to sell it; fit for purpose intended; as described in advertisement or description, buyer has right to quiet possession Unsolicited Goods/Inertia Selling = Goods sent to a person that they did not order, payment can’t be demanded, right to keep if after 30 days written notice to retrieve or if after 6 months no collection granted no interference to collect Retailer Responsibility = Retailer, not the manufacturer, is responsible for fixing the consumer's issues Misleading Practices = Misleading claims, includes misleading advertisements, includes the withholding of information

Match the following unfair dismissal terms with their definitions:

Constructive Dismissal = Working conditions of an employee are made so difficulty or that the treatment of an employee is so intolerable that the employee has no option but to resign, burden of proof on employee to prove unfairly dismissed Unfair Dismissal = All dismissals deemed unfair (burden of proof on employer to prove not), eight grounds (PATTER UP), Redress For Unfair Reinstatement; re-engagement; compensation (up to two years' Dismissal pay) Offer right of appeal = A step taken in the process of dismissal to provide a chance for the employee to challenge the decision Final Written Warning = A formal notice given to an employee, stating that any further misconduct or poor performance may result in dismissal

Match the following consumer protection terms with their descriptions:

<p>The Consumer Protection Act 2007 (CPA 2007) = Includes provisions for Misleading Practices, Prohibited Practices, Pricing Rules, Aggressive Selling Practices Guarantees = Additional protection given to the consumer on top of legal rights, doesn’t affect statutory rights, retailer responsible CCPC = Statutory body, dual mandate responsible for enforcing consumer protection and competition law in Ireland, has many functions Small Claims Procedure = €25 fee, claims up to €2,000, under local district court, consumers to businesses or businesses to business, informal (no solicitor), to solve an unresolved consumer conflict</p> Signup and view all the answers

Match the following key terms with their definitions in the context of business relations:

<p>Stakeholders = Individuals or groups involved in or affected by a business Investors = Provide capital to fund a business in exchange for a return on their investment Managers = Run a business or department for the entrepreneur, utilizing skills and activities such as planning and organizing Interest Groups = Pressure groups that affect and are affected by a business's activities, lobbying on behalf of a common interest</p> Signup and view all the answers

Match the following elements of a legally valid contract with their descriptions:

<p>Offer = Must be clear, complete, unconditional, and communicated properly Consideration = Something of value must be exchanged between parties Legality of Purpose = Contracts must have a legal purpose Intention to Contract = Parties must have a genuine intent to form a binding contract</p> Signup and view all the answers

Match the following types of relationships between stakeholders with their descriptions:

<p>Competitive relationships = Involve one party benefiting at the expense of another Cooperative relationships = Involve mutual benefit and working together towards a shared goal</p> Signup and view all the answers

Match the following factors leading to industrial disputes with their descriptions:

<p>Disputes over pay = Lead to industrial disputes Trade union recognition = Can lead to industrial disputes Productivity = Contributes to industrial disputes Redundancy = Can lead to industrial disputes</p> Signup and view all the answers

Match the following stakeholders with their descriptions:

<p>Entrepreneurs = Take personal and financial risks to fill gaps in the market and make a profit Investors = Provide capital to fund a business in exchange for a return on their investment Service providers = Offer services such as electricity, internet, legal, and banking to businesses Producers = Manufacture goods from raw materials and have their own desires and aims</p> Signup and view all the answers

Match the following types of relationships between stakeholders with their descriptions:

<p>Competitive relationships = Involve one party benefiting at the expense of another Cooperative relationships = Involve mutual benefit and working together towards a shared goal</p> Signup and view all the answers

Match the following elements of a legally valid contract with their descriptions:

<p>Offer = Must be clear, complete, unconditional, and communicated properly Acceptance = Must match the exact terms of the offer Legality of Form = Some contracts must be in a specific format Intention to Contract = Parties must have a genuine intent to form a binding contract</p> Signup and view all the answers

Match the following types of pay claims employees can make with their descriptions:

<p>Non-legislative solutions = Include discussing and clarifying issues Legislative solutions = Include taking legal action or seeking compensation</p> Signup and view all the answers

Match the following employment terms with their definitions:

<p>Constructive Dismissal = Working conditions or treatment of an employee is so intolerable that the employee has no option but to resign Unfair Dismissal = All dismissals are deemed unfair, burden of proof on employer to prove otherwise Formal Verbal Warning = A formal warning given to an employee verbally Final Written Warning = A final warning given to an employee in writing before dismissal</p> Signup and view all the answers

Match the following discrimination bases with their corresponding areas:

<p>Recruitment = Basis for treating someone less favorably in the hiring process Promotion = Basis for treating someone less favorably in terms of career advancement Working Conditions = Basis for treating someone less favorably in the workplace environment Dismissal = Basis for treating someone less favorably resulting in termination of employment</p> Signup and view all the answers

Match the following consumer protection terms with their descriptions:

<p>Unsolicited Goods = Goods sent to a person that they did not order, payment can't be demanded Retailer Is Responsible = The retailer, not the manufacturer, is responsible for fixing the consumer's issues Provisions For Goods = Legal provisions that ensure goods meet certain standards, such as merchantable quality Misleading Practices = Includes misleading claims and advertisements, as well as the withholding of information</p> Signup and view all the answers

Match the following consumer protection actions with their descriptions:

<p>Enforcing Competition Law = Taking legal proceedings against EU and Irish law breakers Assess Mergers = Examining potential mergers and acquisitions to prevent monopolies Ombudsman = Investigates consumer complaints against public bodies, independent and impartial Small Claims Procedure = Informal procedure to solve unresolved consumer conflicts, with a fee and claims up to €2,000</p> Signup and view all the answers

Study Notes

Key Terms and Concepts in Business Relations

  • Stakeholders are individuals or groups involved in or affected by a business.
  • Entrepreneurs take personal and financial risks to fill gaps in the market and make a profit.
  • Investors provide capital to fund a business in exchange for a return on their investment.
  • Employers hire and pay employees to carry out work, with certain responsibilities.
  • Employees are paid wages to work for their employers and have rights and responsibilities.
  • Managers run a business or department for the entrepreneur, utilizing skills and activities such as planning and organizing.
  • Producers manufacture goods from raw materials and have their own desires and aims.
  • Suppliers sell goods or raw materials to businesses.
  • Service providers offer services such as electricity, internet, legal, and banking to businesses.
  • Consumers purchase goods and services for personal consumption.
  • Governments set rules and laws, collect taxes, and create a suitable climate for businesses.
  • Interest groups are pressure groups that affect and are affected by a business's activities, lobbying on behalf of a common interest.

Types of Relationships Between Stakeholders:

  • Competitive relationships involve one party benefiting at the expense of another.
  • Cooperative relationships involve mutual benefit and working together towards a shared goal.

Elements of a Legally Valid Contract:

  • Offer: Must be clear, complete, unconditional, and communicated properly.
  • Acceptance: Must match the exact terms of the offer.
  • Agreement: Requires an offer and acceptance, can be oral or written.
  • Consideration: Something of value must be exchanged between parties.
  • Legality of Form: Some contracts must be in a specific format.
  • Consent to Contract: Parties must agree willingly and without coercion.
  • Capacity to Contract: Parties must have the legal ability to agree.
  • Legality of Purpose: Contracts must have a legal purpose.
  • Intention to Contract: Parties must have a genuine intent to form a binding contract.
  • Condition: Essential terms of a contract; if broken, the contract is terminated.
  • Warranty: Lesser terms of a contract; if broken, the contract remains valid.

Termination of a Legal Contract:

  • Frustration occurs when an unforeseen event makes the contract impossible.
  • Performance involves both parties fulfilling their contractual obligations.
  • Agreement occurs when parties mutually decide to end the contract.
  • Breach happens when one party breaks an essential element of the contract.

Remedies for Breach of a Legal Contract:

  • Specific performance requires the guilty party to fulfill the agreed terms.
  • Financial compensation can be ordered by the court.
  • Rescinding the contract returns parties to their initial positions.

Factors Leading to Industrial Disputes:

  • Disputes over pay, working conditions, redundancy, new technology, trade union recognition, unfair dismissal, and discrimination can lead to industrial disputes.
  • Factors such as the cost of living, comparability, productivity, and relativity also contribute.

Types of Pay Claims Employees Can Make:

  • Non-legislative solutions include discussing and clarifying issues,

Key Terms and Concepts in Business Relations

  • Stakeholders are individuals or groups involved in or affected by a business.
  • Entrepreneurs take personal and financial risks to fill gaps in the market and make a profit.
  • Investors provide capital to fund a business in exchange for a return on their investment.
  • Employers hire and pay employees to carry out work, with certain responsibilities.
  • Employees are paid wages to work for their employers and have rights and responsibilities.
  • Managers run a business or department for the entrepreneur, utilizing skills and activities such as planning and organizing.
  • Producers manufacture goods from raw materials and have their own desires and aims.
  • Suppliers sell goods or raw materials to businesses.
  • Service providers offer services such as electricity, internet, legal, and banking to businesses.
  • Consumers purchase goods and services for personal consumption.
  • Governments set rules and laws, collect taxes, and create a suitable climate for businesses.
  • Interest groups are pressure groups that affect and are affected by a business's activities, lobbying on behalf of a common interest.

Types of Relationships Between Stakeholders:

  • Competitive relationships involve one party benefiting at the expense of another.
  • Cooperative relationships involve mutual benefit and working together towards a shared goal.

Elements of a Legally Valid Contract:

  • Offer: Must be clear, complete, unconditional, and communicated properly.
  • Acceptance: Must match the exact terms of the offer.
  • Agreement: Requires an offer and acceptance, can be oral or written.
  • Consideration: Something of value must be exchanged between parties.
  • Legality of Form: Some contracts must be in a specific format.
  • Consent to Contract: Parties must agree willingly and without coercion.
  • Capacity to Contract: Parties must have the legal ability to agree.
  • Legality of Purpose: Contracts must have a legal purpose.
  • Intention to Contract: Parties must have a genuine intent to form a binding contract.
  • Condition: Essential terms of a contract; if broken, the contract is terminated.
  • Warranty: Lesser terms of a contract; if broken, the contract remains valid.

Termination of a Legal Contract:

  • Frustration occurs when an unforeseen event makes the contract impossible.
  • Performance involves both parties fulfilling their contractual obligations.
  • Agreement occurs when parties mutually decide to end the contract.
  • Breach happens when one party breaks an essential element of the contract.

Remedies for Breach of a Legal Contract:

  • Specific performance requires the guilty party to fulfill the agreed terms.
  • Financial compensation can be ordered by the court.
  • Rescinding the contract returns parties to their initial positions.

Factors Leading to Industrial Disputes:

  • Disputes over pay, working conditions, redundancy, new technology, trade union recognition, unfair dismissal, and discrimination can lead to industrial disputes.
  • Factors such as the cost of living, comparability, productivity, and relativity also contribute.

Types of Pay Claims Employees Can Make:

  • Non-legislative solutions include discussing and clarifying issues,

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Unit 1 Key Terms PDF

Description

Test your knowledge of key terms and concepts in business relations with this quiz. From stakeholders and entrepreneurs to contracts and industrial disputes, this quiz covers a range of topics related to the world of business. Challenge yourself and see how well you understand the relationships between various stakeholders, the elements of a legally valid contract, the termination of contracts, remedies for breach, and the factors leading to industrial disputes. Expand your understanding of business relations and see how well you can apply these concepts in real-world scenarios.

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