People,
motivation, leadership, ansoff, maslow, mcgregor, porter, five forces,
training, development
Limited
Company
Private
Limited Company
Limited
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 forecast
The
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 account
This
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 Contracts
Opening
balance sheet
This
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 chart
If
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.
Partnership
Personal
pension schemes including SIPPs
PII
quotation
Sole
Trader
A
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 chart
This
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
|
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.
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.
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.
of the
economic problem which confronts every individual and every society
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.
·
·
|
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,
environmental).
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.
|
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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