unit one key words

business

an organisation set up to provide goods and services needed by society

stakeholders

individuals or groups who are affected directly or indirectly by the organisation as it achieves its goals

business associations

organisations which use their resources and networks to represent businesses

IBEC

irish business and employers confederation

ISME

Irish small and medium enterprises

trade associations

organisations created to represent firms in a particular trade or activity

co-operative relationship

joint effort is required by all stake holders to work in unison towards a common goal resulting in a win win outcome

competitive relationship

means firm is trying to achieve a mutually exclusive goal at the expense of other stakeholders resulting in a win lose outcome

interest groups / lobbying

voluntary groups representing a specific body of people who have a common interest and try to influence political and decision making process

contract

a legally binging agreement which is enforceable by law, such as the buying and selling of property, which may or may not have terms and conditions in writing

agreement

is made up of the first three elements of a contract, the offer and the acceptance after consideration

consent to contract

consent of both parties is required and must be voluntary/ both parties must partake of their own free will, no intimidation

offer

is a promise by the person making the offer to another person to be bound by the contract, if the offer is accepted properly , can be cancelled at anytime before acceptance

consideration

this is the acceptance of the offer being matched by some advantage or benefit, moving from one person to another , it must be valuable and real

acceptance

the acceptance of the terms of the offer can be written, spoken or implied and it must be clear and unqualified, matching the terms of the offer exactly

intention to contract

must be an intention to create a legal bargain and both parties must be aware they are entering a legal relationship

capacity to contract

parties must have the legal capacity to enter contract, natural persons and corporate persons have contractual capacity

legality of form

if a contract by law is required to be laid down in a specific manner, then it must by law be laid out in this manner or it will be invalid , eg hire purchase

invitation to treat

this is the beginning of the process, where a person/consumer is invited to discuss the making of an offer, which can be accepted or rejected , not binding

expressed terms

these are the terms of a contract, clearly stated/written down in the contract

implied terms

these are not written in the contract but are implied, there without having to write them

specific performance

the court can order that the terms of a contract must be carried out as origannly agreed by both parties, so that contractual agreements are fulfilled

rescind the contract

contract is cancelled and the innocent party can have the contract set aside if there has been an unforeseen frustration, both parties must be restored to the position they where in before the contract

the consumer

the individual purchasing commodities for themselves or their household

caveat emptor

let the buyer beware , consumer is expected by law to use a reasonable level of common sense when purchasing a good

negotiations

to justify/disclose your position to someone else through a format of discussion and bargaining tp reach a mutually acceptable agreement

unfair commercial practise

when retailer fail to deliver a reasonable level of skill and care when dealing with a consumer or knowingly misleading the consumer

merchantable quality

goods must be of reasonable quality taking into consideration their price and durability

guarantee

this is an additional safeguard that doesn’t infringe on the consumers statutory rights, it is a promise that product will be repaired or replaced if it doesn’t performs expected

unsolicited goods

goods received by the consumer that they did not order or request

digital content

data that is produced or supplied in a digital form and is downloaded or streamed on the internet , eg Netflix

right to cancel / cooling off period

consumers have the right to change their minds when they buy goods inline , consumer is entitled to a 14 day cooling off period when good is online

industrial relations

refers to the quality of the relations that exist between the employees and their employer

trade unions

special interest groups that protect and represent the interests of the employees by speaking and negotiating on their behalf with employers

collective bargaining

process of negotiation between employers and a group of employees aimed at agreements to regulate salaries, working conditions, benefits

national productivity bargaining

government and social partners meet every three years and agree a new pay agreement for a fixed number of years

pay claim

is a request for a pay increase from the employees to management , three types: cost of living, relativity and comparability

strike

occurs when negotiations to resolve conflict have failed and employees take full industrial action

mediation

a third party becomes involved and tries to open communication between the parties involved with the aim of getting them to solve the conflict between themselves

conciliation

independent third party that brings the two parties together and overs them solid advise and solutions to encourage the parties to solve the problems between themselves

arbitration/or

is a neutral third party who will investigate and listen to both sides and then issue a judgement/recommendation that will hep resolve

industrial disputes

any conflict between employer and employees concerning their employment or non employment relating to the terms and conditions of their contract

how to make a strike legal

• secret ballot

• majority vote, equal strike action

• one weeks notice given to employer about the strike to allow them ac chance to resolve the conflict

official strike

a dispute where workers have conducted a secret ballot with a majority in favour of strike and have given the employer one weeks notice and have the backing of the ICTU and pay

unofficial strike

workers did not have a secret ballot, majority, give one weeks notice , no ICTU backing and receive no pay

primary picketing

picketing outside their employers business and it is directed solely at their employer

secondary picketing

picketing at a different business which is helping their employers business such as buying stock

adjudication

the adjudication service investigates disputes, unfair dismal and discrimination, the adjudication officer will investigate into the complaint and make a judgment

fair dismissal

occurs when employee have been dismissed due to one of the following ‘ misconduct, redundancy, incompetence or the employee is deemed incapable of performing their duties

constructiv dismissal

when the employer makes the working conditions of the employees so hard or distasteful that the worker is forced to leave of their own free will eg changing location of work without notice, or no pension , employee must prove this

re-instatement

employee gets their old job and back pay from he date they where unfairly sacked as the dismissal was entirely the fault of management

re-engeagment

employee gets their old job or a similar one back but does not receive back pay as their were partly to blame for the dismissal

discrimination

when one person is treated in a less favourable way that another person is, has or would be

harassment

any behaviour which is offensive or unwelcome, whether through word action or gesture

sexual harassment

any behaviour which would be deemed sexually offensive whether through word action or gesture