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Read the information supplied and answer the questions which follow: Paul McCarthy was a supporter of the Irish Soccer and Rugby teams - Leaving Cert Business - Question 1 - 2017
Question 1
Read the information supplied and answer the questions which follow: Paul McCarthy was a supporter of the Irish Soccer and Rugby teams. He identified an opportunity... show full transcript
Worked Solution & Example Answer:Read the information supplied and answer the questions which follow: Paul McCarthy was a supporter of the Irish Soccer and Rugby teams - Leaving Cert Business - Question 1 - 2017
Step 1
Outline three entrepreneurial characteristics/skills displayed by Paul.
Answer
Paul displays several entrepreneurial characteristics that contribute to his initiative in establishing Sport Trips Ireland Ltd. First, he is innovative and creative, coming up with new ideas for services aimed at sports fans. Second, he demonstrates risk-taking abilities by resigning from a secure job to start his own business, which involves significant financial risks. Lastly, Paul embodies proactiveness, as he actively seeks opportunities within the sports travel sector and takes the necessary steps to fulfill them.
Step 2
Name and explain one type of plan developed by management in a business.
Answer
One type of plan developed by management in a business is a strategic plan. This long-term plan outlines the goals and objectives the organization aims to achieve over a specific time frame, typically 3 to 5 years. It includes a strategic framework to guide decision-making and resource allocation, ensuring that the business aligns its activities with its overall goals.
Step 3
Explain the term delegation.
Answer
Delegation refers to the process of assigning responsibility and authority to subordinates from a manager to undertake specific tasks. This empowers employees, facilitating more efficient management and allowing managers to focus on higher-level decisions.
Step 4
Outline two advantages of delegation.
Answer
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Encourages Entrepreneurial Spirit: Delegation fosters a sense of ownership and accountability among employees, motivating them to take initiative and be more engaged in their work.
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Enhances Efficiency: By delegating tasks, managers can focus on strategic decision-making, while team members handle operational responsibilities, leading to improved productivity.
Step 5
the agenda of a meeting.
Answer
An agenda of a meeting is a detailed list of the topics to be discussed during the meeting. It lays out items in order of importance and typically begins with formalities from the last meeting, such as previous minutes, and ends with any AOB (Any Other Business).
Step 6
the minutes of a meeting.
Answer
The minutes of a meeting are a written record of what transpired during the meeting. They capture essential details such as participants, absences, discussions held, resolutions made, and actions to be taken. This documentation serves as a reference for future meetings and assists in follow-up activities.
Step 7
Draft the Notice and Agenda for the AGM of Sport Trips Ireland Ltd.
Answer
SPORT TRIPS IRELAND LTD
NOTICE:
8 September 2017
The AGM of Sport Trips Ireland Ltd will take place in the G Hotel, Co Galway on Saturday 30th September 2017 at 2.00 p.m.
AGENDA:
1. Minutes of AGM 2016
2. Chairperson’s Report
3. Auditor’s Report
4. Election of Auditors
5. Any Other Business
Signed:
Emma Butler
Company Secretary