Skip to main content

LC Business
LC Business
4 questions
12 posts

Do you have questions about LC Business?

Log in to ask questions about LC Business publicly or anonymously.

Stakeholders involved in buisness / Geallsealbhóirí san gnó

Stakeholders / Geallsealbhóirí

'People who have an affect on how a business is run'

Entrepreneurs / Fiontraí

People who turn ideas into a business / Na duine a athraíonn smaoineamh go dtí gnó.

  • Bill Gates, founder of Microsoft.
  • Mark Zuckerberg, the founder of Facebook.
  • Jeff Bezos, founder of Amazon.
  • Pat McDonagh, founder of Supermacs

Investors / Infheisteoirí

People who give finance to the business, can be in forms of :

  • Owners' capital : Money invested by people, they then become part owners of the business.
  • Loan capital : Finance provided by bank or other lenders and needs to be repaid.... (More)
  • This section requires you to Name, Explain and Link for each point. combining different elements into the one answer. Evaluation may be also required.
  • In answering the questions on the ABQ candidates must explain and make use of relevant knowledge/theory (and understanding) gained in the subject while studying the course in addition to the relevant links from the ABQ.
  • Linking of points made in your answer with the text by relevant quotes/phrases/statements from the ABQ is essential.
  • Read the ABQ provided in full before reading the questions, then go back and highlight the relevant points/links in the text.
  • Present your... (More)

Getting Started & Ownership Structures

Why start a business?

  • Challenge: Some people will become restless working for someone else, want more of a challenge
  • Profit: Setting up the business offers the chance of earning profits
  • New Ideas/Inventions:
  • Circumstances: People can be forced to set up their business due to unforeseeable circumstances e.g A redundant worker with a sum of money

Problems in setting up a business:

  • Right Product: getting the right product that will satisfy the needs for the customer fully e.g. Value for money
  • Cash Flow: new starts ups often fail because cash flow issues i.e. run out of cash
  • Premises: finding the... (More)
Share Notes
LC Business

Motivation - Maslow and McGregor

Motivation: is about what makes people do things. (What makes people work)

Maslow’s Need Hierarchy Theory of Motivation!

1. Physiological Needs:

These needs are of the lowest-order and most basic needs of human beings. These involve satisfying fundamental biological drives, such as the need for food, air, water, cloth, and shelter.

2. Safety and Security Needs:

The second level of need in Maslow’s hierarchy is emerged once physiological needs are met. Safety needs involve the need for a secure environment, free from threats of physical and psychological harm. These needs find expression in such desires as economic security and protection... (More)