People In Business
Someone who starts up a business
Entrepreneur
When one person asks another to enter into a deal with him and promises to be bound by contract if his offer is accepted
The process of bargaining to try reach a mutually acceptable solution to the conflict
Negotiation
Person who sets up a business, spots a gap in the market and takes a financial/personal risk
Entrepreneur
Someone who runs a business on a day-to-day business
A manager
Someone who gives the money (capital) to the entrepreneur to set up the business
Investor
Acceptance
CAI stands for..
The Consumers' Association of Ireland
Entrepreneur who set up Facebook
Mark Zuckerberg
The manager who makes all the decisions without any employee input
Autocratic Leader
A relationship in a business when the parties work together and help eachother in order to achieve their goals
Cooperative Relationship
The exchange of value between the parties in a contract
Consideration
Formal assurance from a manufacturer or a retailer that a product will be repaired or replaced if not of a specified quality
Guarantee
Entrepreneurs who are not afraid of taking a chance and having a go are _____ ____
Risk takers
The manager who involves employees when making decisions
A democratic leader
A relationship when one party wants to be more successful than another
Competitive Relationship
Both parties to the agreement must mean it to be a legally binding contract
Intention to Contract
Competition and Consumer Protection Commission
An employee working within a business who shows enterprise
An intrapreneur
Laissez-Faire
The manager has very little involvement in decision-making, mostly leaving everything up to the employees
The manager of Ryan Air
Michael O'Leary
A person has the legal right to make a legally binding contract. They have the legal power and ability to make a contract
Capacity to Contract
This Act states that all information contained in a business's advertisement must be fair and accurate
Misleading Advertising
Entrepreneurs like to be in charge, giving orders, not taking them
Ruthless
When a manager assigns authority to an employee to carry out a specific management task of his, on his behalf
Delegation