people in business

commercial business

a business that provides goods and services to consumers with the aim to make a profit. An example of these businesses are Tesco and Samsung.

non-commercial business

a business that people ahead of profit and aims to supply and provide goods or services to the community and is run like a business. An example of this business is the GAA.

stakeholder

someone who is affected by the actions, objectives and policies of a business.

entreprenuer

someone who spots a gap in the market and comes up with an idea that they can turn into a business.

investor

 people who provide the entrepreneur with capital needed to establish and operate the business.

employer

someone who recruits staff to enable the organisation to carry out its business.

employee

 people recruited by the employer to work in the business in return for a wage/salary.

producer

A producer takes raw materials and transforms them during the manufacturing process into finished products

consumer

 people who buy goods and services for their own personal use

manager

someone who is responsible for the day-to-day running of the business and ensures that the firm achieves its goals

supplier

firms that provide raw materials to the business

service provider

A services provider provides services needed by the business to operate successfully.

government

The government sets laws and rules for businesses that operate in Ireland and pay taxes. It offers support to Irish businesses through state agencies like LEOs, Enterprise Ireland, and the IDA

local community

The local community consists of the individuals, households and organisations that are located close to the business.

interest groups

a group of people who meet and campaign for a common goal. They use a variety of techniques to campaign to influence decision-makers. examples ibec (irish business and employee confederation) and isme (irish small and medium enterprises)

co-operative relationship

The parties in business have the same objective and so they work together to achieve their common goal. It is a “win-win” situation as it produces better results for everyone.

co-operative relationship example

**Employee and Employer:** A business that provides excellent pay and conditions for its staff may be rewarded by increased productivity and motivation. The employees benefit from high levels of income and job security on offer whilst the company should see higher profits resulting from increased productivity and fewer industrial disputes.

competitive relationship

This means that one party in the business wants to be more successful than another. The parties have conflicting or opposing objectives. It is called a “win-lose” situation as only one party can win.

competitive relationship example

**Entrepreneur and Investor:** The entrepreneur may want to expand the business and use profits to do so; the investor may not want to take this risk and would prefer the profits to be divided as a form of income.