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People, motivation, leadership, ansoff, maslow, mcgregor, porter, five forces, training, development Limited CompanyPrivate Limited CompanyLimited liability partnership (LLP)A LLP is a recognised legal entity by virtue of the Limited Liability Partnerships Act 2000. LLPs are legal entities which are capable of entering contracts in their own right, and are correspondingly liable for debts under those contracts. Any two people associated for carrying on a lawful business with a view to profit can set up as a LLP. Monthly cashflow forecastThe cashflow statement shows how a firm is paying for its operations and future growth, by detailing the "flow" of cash into and out of the firm. Monthly profit and loss accountThis is a statement showing the forecast income and expenditure, and hence the profit or loss, of the applicant firm for each month for the first 12 months of trading as an authorised firm. Non Investment Insurance ContractsOpening balance sheetThis is a balance sheet prepared as at the start of the applicant firm's first 12 months of trading as an authorised firm. A balance sheet is a statement of the applicant firm's financial position including its assets and liabilities. Organisational Structure chartIf applicable this structure chart will need to show controllers, close links, groups and any connections to European Economic Area firms and/or non European Economic Area firms. If you are not sure if you have any of these please wait until you are asked in the decision tree as you will be provided with further guidance. PartnershipPersonal pension schemes including SIPPsPII quotationSole TraderA sole trader operates as an individual without the use of a company structure or partners and has sole responsibility for the actions of the business. Business finances cannot be separated from personal finances insofar as the sole trader has unlimited personal liability and is personally responsible for any liabilities incurred by the business. Staff organisational chartThis
is a chart to show that you have an management structure and clear
reporting lines. You will be given more details in the core details form
of this application pack as to what it should deal with. However, the
minimum requirements are the names of significant staff, direct reporting
lines and direct reporting lines into the board. 1.
Economics & the Market Mechanism The
fundamental problem of scarcity and the related concepts of choice,
opportunity cost & allocation. Distinguish between Microeconomic and
Macroeconomic issues. The factors that determine demand and supply.
Equilibrium and the outcome of the market system. 2.
Demand Analysis The
responsiveness of demand (Elasticity) to changes in the key variable s of price,
price of other goods and income, in the demand function. Price Elasticity
of Demand. Cross Price Elasticity of Demand. Income Elasticity of Demand.
Utility & marginal utility. 3.
Theory of the Firm The
Law of Diminishing Returns & Economies of Scale. The importance of
Economies of Scale for the Irish economy. Understand how the profit
maximizing level of output is decided. 4.
The Competitive Environment Understand
the concept of market structure & what determines the competitive environment
that the firm operates. Perfect competition Monopoly, Oligopoly &
Monopolistic Competition. The types of competition that takes place
between firms in the competitive environment. 5.
Measuring Economic Activity Distinguish
between GNP, GDP and NNP as measures of Economic activity. Appreciate the
limitations of these economic indicators. Economic issues such as
inflation, unemployment, the business cycle 6.
The Determination of National Income The
circular flow of income. The role of aggregate demand in determining
national income & the importance of the multiplier. The difference
between monetary & fiscal policy. Irish Public expenditure & the
national debt 7.
Money & Banking The
function & origins of money. How money is created and the implications
of increases in the money supply. The structure of the Irish Financial
Services Sector. The role of the Irish and European Central Banks. Core
concepts of marketing. The marketing concept. The product, the selling
concept, the societal marketing. Characteristics of marketing oriented
firms. 2.
The Marketing Environment Influences
in the micro and macro environment. Competitor analysis. Competitive
strategies. 3.
Buyer Behaviour The
stages in the buying process. Influences on buyer behaviour. How marketers
can influence buyer behavoiur at each stage of the buying process.
Differences between consumer and organisational buying behaviour. 4.
Marketing Information Systems Components
of a firm’s marketing information system. Step in the marketing research
process. Characteristics of good marketing research. Sampling. Probability
and nonprobability samples. Contact methods for survey research.
Questionnaire design. Quantitative versus qualitative market research. 5.
Market Segmentation Bases
for segmentating consumer markets. Requirements for effective
segmentation. Market targeting. Evaluating market segments. Selecting
target markets. Positioning the market offer. Positioning the market
offer. Positioning strategies. Differentiation. 6.
Product Management Classifying
products. Product hierarchy. Product mix. Product line analysis. Packaging
and labelling. 7.
Branding The
brand concept. Brand equity. Benefits of branding. Branding decisions. Manufacturers’
brands versus private label brands. Brand extensions. 8.
The Product Life Cycle Stages
in the PLC. Strategies for each stage. Critique of the PLC. 9.
The New Product Development Process Stages
in the NPD process. Pitfalls in the process. Why products fail 10.
Services Marketing The
continuum approach to services. Levels of product/service. Characteristics
of services. Basic strategies for service firms. Causes of unsuccessful
delivery. Determinants of service quality. Relationship marketing. 11.
Pricing The
concept of price. Price and value. Pricing objectives. Factors affecting
pricing decisions. Steps involved in setting prices. Pricing policies. 12.
Distribution Distribution
systems. Marketing channels. Why intermediaries are used. Channel types.
Main channel decisions. Causes of channel conflict. Vertical marketing
decisions. Causes of channel conflict. Vertical marketing systems. Main
activities in physical distribution. Retail marketing decisions. 13.
Marketing Communications The
communications process. The marketing communications (promotions) mix.
Marketing communications. Objectives. Advertising, public relations, sales
promotion, personal selling, direct marketing, commercial sponsorship.
Steps in developing a marketing communications programme. Writing a media
brief. Types of advertising agency in Ireland. Choosing an agency. 3.
Practical Financial Accounting Double
entry book-keeping. The accounting equation. Books of original entry.
General ledger. Trial balance. Accruals and prepayments. Provisions.
Depreciation. Accounting entries for closing stock. Distinction between
capital and revenue. Nature and purpose of a bank reconciliation
statement. Recording of transactions through the double entry system.
Extraction of a trial balance. Correction of errors. Posting of
adjustments. Preparation of a trading, profit and loss account and balance
sheet for a sole trader. 4.
Management Accounting Nature
and scope of management accounting information. Role of management
accounting information in an organisation. Relationship between management
and financial accounting. Basic cost concepts. Cost volume profit
analysis. Nature, objective and advantages of budgeting. Essential
elements. Offer, Acceptance, Mistakes, Misrepresentation, Fraud. Discharge,
conditions and warranties. Performance, breach of contract, remedies,
quasi contract, capacity of contract, privity of contract and assignment.
Illegal, unenforceable and avoidable contracts, restraint of trade and
undue influence. 3.Commercial
Law Sale
of goods. Credit sale, hire purchase and lease. Negotiable instruments.
Agency. Freight and Carriage. Insurance and Professional Indemnity
Insurance. Guarantees, Indemnities and Liens. 4.
European Union Institutions of the EU and their functions. The effect of EU regulations and directives on Irish law. Articles 85 & 86 of the European Economic Community Treaty. Competition Act 1991. Competition Pricing
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Euro,
ECB, housing market, gordon brown, golden rule
price,
price of other goods and income, in the demand function. Price Elasticity
of Demand. Cross Price Elasticity of Demand. Income Elasticity of Demand.
Utility & marginal utility.The Law of Diminishing Returns &
Economies of Scale. The importance of Economies of Scale for the Irish
economy. Understand how the profit maximizing level of output is decided. Understand
the concept of market structure & what determines the competitive environment
that the firm operates. Perfect competition Monopoly, Oligopoly &
Monopolistic Competition. The types of competition that takes place
between firms in the competitive environment. The
circular flow of income. The role of aggregate demand in determining
national income & the importance of the multiplier. The difference
between monetary & fiscal policy. Irish Public expenditure & the
national debt. The
function & origins of money. How money is created and the implications
of increases in the money supply. The structure of the Irish Financial
Services Sector. The role of the Irish and European Central Banks. opportunity costs are associated with economic problem solving fundamental choices facing every society – what, how, how much and who?. discuss the nature of goods and services not necessarily adequately provided by the market mechanism assess the privatisation debate. discuss the meaning of the terms ‘unemployment’ and ‘full employment’ the economic and social effects of unemployment the problem of youth unemployment in Australia define ‘headline and underlying inflation’show how the Consumer Price Index is constructed analyse recent inflation statistics discuss the economic and social effects of inflation define economic growth and describe how it may be measured analyse recent economic growth statistics describe pattern of exports and imports tracecurrent account deficit in recent years assess the implications of current account deficit. understand the nature of the financial system and the contribution of publicly listed companies to that system share market and the factors that affect the price of shares at a particular time leading market indicators, their formulation, meaning and usefulness in understanding market trends design strategies and plans for an individual's investment portfolio. identify the financial market as part of the circular flow differentiate between the terms ‘stock market’ and ‘stock exchange’ · understand and use evaluative tools such as dividend yield, earnings per share, price earnings ratio and net tangible assets per share in making investment decisions · outline the features of a perfect market (perfect competition) and describe the condition of equilibrium in a perfect market · discuss the concept of economic efficiency and consider whether perfect competition will necessarily yield economic efficiency · describe the features of the following imperfect market forms: monopolistic competition, oligopoly and monopoly ctive trade practices · describe the terms ‘collusion’, ‘price agreements’, ‘market sharing’, ‘collusive bidding’ and ‘collusive tendering’ · describe the term ‘resale price maintenance’, ‘exclusive dealing’ and ‘tying contract’ · distinguish between a merger and a takeover and define the term ‘subsidiary’ · define and give examples of ‘monopolisation’, ‘discriminatory dealing’ and ‘collective boycott’ discuss the economic significance of wages · describe the process of collective bargaining and compare it to a free market determination of wage · identify the major sources of industrial conflict and appraise the issues in at least one dispute. · define the term wages · explain the relationship between wages and profits · outline the principles of wage determination in a free market · outline the principles of wage determination by collective bargaining · describe the procedures by which wage rises are determined using the following methods: workplace agreements, enterprise bargaining agreements, awards set by the Industrial Relations Commission and National Wage Cases · analyse the respective roles of trade unions, employer groups and governments in wage determination · evaluate the significance of the concept of the maintenance of real wages and of economic capacity to pay in the determination of national wages policy. · define the term ‘productivity’ · assess the importance of productivity in determining wages · discuss possible links between wage levels and youth unemployment · review the average wages for women in Australia, compare them to the average wages for men and discuss reasons for the differences which occur · evaluate arguments for and against government funding of a social security system. · outline the role of Federal and State governments in the funding of health care · explain the role of private enterprise in the provision of health care · discuss the issues involved in a reappraisal of the roles of the public and private sectors in the provision of health care. · describe the benefits of education to the individual · explain the concept of investment in human capital · investigate recent trends in education and training, and relate these to the need for a more productive workforce. explain, and investigate the issues involved in, the funding of government · examine the significance of the growth of private education providers in Australian education and training. · distinguish between sole trader, partnership, private company and public company · define the terms ‘short run’ and ‘long run’ · recognise that the capacity of the firm's plant is fixed in the short run, though the output may be varied by employing smaller or larger amounts of variable factors of production · define ‘the law of diminishing returns’ and use an example to illustrate this law · define the terms ‘fixed costs’, ‘variable costs’, ‘total cost’, and ‘average (per unit) costs’, and use tables and graphs to illustrate · recognise that beyond a certain level of output variable costs rise by increasing amounts for each additional unit of output · define the terms ‘marginal product’ and ‘marginal cost’ and use a table to illustrate marginal cost · explain why the shape of the marginal cost curve is a reflection of and follows from the law of diminishing returns. · define ‘specialisation’· define ‘price takers’, ‘price makers’, ‘cost-plus pricing’ and ‘mark-up pricing’ · distinguish between producers who are price takers and price makers · explain to what extent the market for farm products approximates the perfect market model government intervention in agriculture. · ·
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The
travel and tourism industry is the world’s biggest and fastest growing
industry and this unit
offers an understanding of it. Through the study of this unit you will have the opportunity
to: _
investigate the reasons for the rapid growth
in travel and tourism since the end of the Second
World War _
learn that the UK travel and tourism industry
is made up of a wide variety of commercial and
non-commercial organisations that interact to supply products and services to tourists _
learn about the present significance of the
industry to the UK economy _
investigate the wide ranging career
opportunities available in the industry, so that you can
identify the employment opportunities that match your aspirations, skills and abilities. The
unit supports the more detailed study of the travel and tourism industry that
you will carry
out through other parts of your Advanced VCE. tourism
cover the whole phenomenon of people travelling away from home, whether for business
or for leisure and the industry that supports this activity. To understand the
structure of
the industry you need to know the main types of tourism: _
domestic (UK residents taking trips or
holidays in the UK) _
inbound (overseas tourists visiting the UK) _
outbound (UK residents taking holidays outside
the UK). You
also need to know the main reasons why people travel, _
leisure _
business _
visiting friends/relatives. developments
since the end of the Second World War. You need to understand the main factors
that have led to the growth of the travel and tourism industry including: _
changing socio-economic circumstances (eg,
increase in car ownership, increase in leisure
time and disposable income, for many people) _
technological developments (eg, jet aircraft,
computerised reservation systems) _
product development and innovation (eg,
introduction of holiday camps, package tours, long-haul
destinations) _
changing consumer needs, expectations and
fashions. The
travel and tourism industry is continually developing to meet changing consumer
needs and
perceptions. The key features of today’s travel and tourism industry reflect
the dynamic nature
of the industry. These features include: _
it is predominantly private sector led _
the majority of enterprises are small and
medium-sized _
there is extensive use of new technologies _
it is vulnerable to external pressures (eg,
currency fluctuation, government legislation, climatic
changes, war and civil unrest) _
the positive and negative impact on host
communities (eg, economic, social,
tourist attractions (eg, natural, built) _
accommodation and catering (eg,
serviced/self-catering) _
tourism development and promotion (eg, tourist
boards, tourist information, guiding services) _
transportation (eg, land, sea, air) _
travel agents, in terms of multiples,
independents and functions and products _
tour operations, in terms of mass market,
specialist and domestic and incoming. You
also need to understand the differences between commercial and non-commercial organisations
in terms of: _
defining and meeting objectives _
funding or revenue generation _
stakeholder or shareholder expectations. the
scale of the industry and its components. You can do this by investigating key
industry statistics
such as: _
consumer spending on travel and tourism in the
UK _
the number of people employed in the industry
and the types of jobs _
number of tourists coming into the UK _
number of UK residents taking holidays in the
UK (domestic tourists) and outside the UK
(outgoing tourists). variety
of enterprises of different sizes. As one of the fastest-growing sectors of the
UK economy,
there is a wide range of job opportunities for people with the right skills, knowledge
and personal qualities. UNIT
1: INVESTIGATING TRAVEL & TOURISM (ADVANCED) To
increase your knowledge of career opportunities in travel and tourism, you will
need to investigate: _
the range of employment opportunities (eg,
variety of industry sectors, full-time, parttime, temporary,
permanent, seasonal) _
the nature of employment (eg, unsocial hours,
a ‘people business’) _
personal and technical skills and qualities
required by employers _
how to find jobs in travel and tourism. obtain
information for their work or to provide accurate and up-to-date information to customers.
Researching involves: _
being clear about what you are trying to find
out _
knowing how to search for information _
deciding what is useful _
collecting and presenting relevant information _
drawing conclusions about your findings _
acknowledging your sources. You
need to use your research skills to build up your knowledge and understanding of
travel destinations.
Those already working in the travel and tourism industry expect you to know how
to carry out research, using a variety of sources including: _
primary sources (eg, people working in travel
and tourism, customers) _
secondary sources (eg, example gazetteers,
brochures, maps, atlases, guidebooks, textbooks,
the internet, newspapers and trade journals). purpose-built resorts (eg, Disneyland Paris,
Center Parcs) _
countryside areas (eg, forests, mountains,
lakes) _
historical/cultural destinations (eg, Pompeii,
Pisa, Madrid). Each
of these destination types has its own particular features. These can appeal to
visitors in different
ways and different combinations. Features include: _
climate (eg, sunshine hours, rainfall,
humidity) _
topography (eg, mountains, lakes, coastline) _
natural attractions (eg, waterfalls, cliffs,
forests) _
built attractions (eg, stately homes, ancient
monuments, theme parks) _
events (eg, carnivals, music festivals) _
food, drink and entertainment (eg, cafés,
restaurants, bars, nightclubs) _
types of accommodation (eg, self-catering,
serviced) _
types of transport (eg, buses, ferries) _
accessibility to travel and tourism gateways (eg,
airports, seaports, land bordercrossings). needs
of older people, who may prefer a quieter area. Similarly, the needs of a
backpacker travelling
independently, on a limited budget, will be different from those of someone on
an expensive, all-inclusive _
North America (USA and Canada) _
the Caribbean _
Australasia (Australia and New Zealand). Travellers
have a choice of transport types when deciding how to travel to their
destination. As
somebody hoping to work in travel and tourism, you need to be able to identify
the main routes
and gateways that tourists can use when travelling in continental Europe and to
longhaul destinations. _
cost (eg, accommodation, transport, costs at
the destination) _
economic conditions (in the UK and the
destination, exchange rate fluctuations). Social
and political considerations: _
promotion (eg, by the tour operator, by the
destination) _
exclusivity _
over-commercialisation _
crime _
political instability/unrest _
media coverage (positive and negative) _
tourism management (positive and negative) _
the growth of independent travel _
the growth of short-break holidays. Environmental
and geographical considerations: _
accessibility _
climate _
pollution _
natural disasters.
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hardware software documentation standard ways of working. keyboard mouse VDU processor (CPU) connectors video card sound card network card disk drives optical drive printer scanner serial port parallel port microphone speaker SCSI controller. bit byte Kb, Mb,
Gb, Tb RAM address buffer ROM volatility cache. Terms
relating to the main processing unit such as: tower, desk unit motherboard processor (CPU) co-processor ISA,
PCI, etc controller card bus (address, data) clock serial port parallel port expansion slot. Terms
relating to disk drive storage systems such as: floppy disk hard disk optical disk write protect data compression rotation speed access time capacity IDE, SCSI, etc. Terms
relating to optical disks such as: CD ROM DVD-ROM/RAM CD-RW. Terms
relating to printers, plotters and VDUs such as: resolution flatbed ink jet laser buffer colour mode (bits) scan frequency interlace refresh rate. Terms
relating to connector plugs and sockets such as: centronics BNC Coaxial RJ series DB series DIP, DIL switches USB jumpers and settings. You
will need to be able to safely install, configure and test complete systems and
individual components
of a system, including: main processing unit keyboard mouse VDU speaker and microphone scanner disk or optical drive printer application software connecting cables expansion cards (video, sound or network). You
will need to be able to configure hardware such as: printer settings DIP, DIL switches jumper positions. Computer
systems use consumable materials. You must be able to identify and use suitable materials
such as: paper tone floppy disks ROM-BIOS start-up software operating systems graphic user interfaces (GUIs) applications. The
ROM-BIOS is used when the hardware first powers up. Access has to be initiated
on starting
the system. You will need to understand what this start-up software controls and
be able
to set or define parameters to meet requirements, such as: select start-up (boot) disk drive define a new disk drive set system password configure a new card (for example, video). time and date password properties scheduled tasks virus protection configuration directory (folder) structure and settings checking and setting system properties system monitoring printer, mouse and keyboard configuration multimedia configuration GUI desktop and display set-up application software icons disk diagnostics and tools network facilities and configuration power management. There
is a wide variety of applications software to meet user needs. You will need to
know which
type of software suits a particular processing activity. You will have to be
able to select,
install and configure software most suited to a specified need, including: document (word) processing desktop publishing multimedia reference programming languages database (record structure) spreadsheet (numeric structure) vector graphics
(eg geometric objects) bit-map graphics
(eg photo images). To
enable users to make immediate and effective use of the system you will also
need to be able
to configure the application software in different ways, including preparing or
setting items
such as: preferences (or configuration files) macros toolbars and the buttons available directory structures and defaults data templates saving and backup security menu layout and contents borders, rules and scroll bars. ICT
systems and software occasionally crash. You must learn to record common
problems and
your attempts, successful or not, at solutions. Records of this nature provide
useful reference
material for you and others when problems occur repeatedly. It
is also important that you record your experiences in setting up and configuring
ICT systems,
including: dates of undertaking work specifications used components installed configuration tasks undertaken faults and problems experienced solutions applied support services accessed diagnostic software used. ergonomic and physical stress
considerations. You
must also be able to implement or recommend proper security procedures,
including those
that ensure: data and software backup is maintained confidential information is protected passwords are used virus checking is undertaken copyright is protected theft is avoided (data, software,
equipment).
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