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Read the information supplied and answer the questions which follow - Leaving Cert Business - Question GLENTRONIC PHARMACEUTICALS - 2013

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Question GLENTRONIC PHARMACEUTICALS

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Read the information supplied and answer the questions which follow. GLENTRONIC PHARMACEUTICALS John Tuohy set up Glentronic Pharmaceuticals in 2003 in his home to... show full transcript

Worked Solution & Example Answer:Read the information supplied and answer the questions which follow - Leaving Cert Business - Question GLENTRONIC PHARMACEUTICALS - 2013

Step 1

What do the letters PLC stand for?

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Answer

PLC stands for Public Limited Company. This type of company can sell shares to the public, providing it with a mechanism to raise additional funding for expansion.

Step 2

List two sources of finance Glentronic Pharmaceuticals can use for expansion.

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Answer

  1. Issuing shares allows the company to raise capital directly from investors.
  2. Long-term loans or debentures can provide necessary funding while spreading the repayment over several years.

Step 3

Explain two possible benefits of Glentronic Pharmaceuticals for the town of Abbeyglen.

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Answer

  1. Employment: Glentronic Pharmaceuticals provides jobs for over 600 people in Abbeyglen, improving the local economy and contributing to job security.

  2. Improved standard of living: As the company grows, it invests in the community and pays taxes, which can be used for local development projects and services.

Step 4

Outline two possible benefits for Glentronic Pharmaceuticals of expanding into the Asian market.

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Answer

  1. Access to a larger market: Expanding into Asia allows Glentronic Pharmaceuticals to reach more customers, increasing sales potential.

  2. Increased profits: As sales grow in new markets, the company stands to benefit from economies of scale, resulting in lower production costs per unit.

Step 5

Outline two environmental responsibilities of Glentronic Pharmaceuticals.

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Answer

  1. Minimizing waste: The company should implement practices to reduce, reuse, and recycle materials used in production to minimize its environmental impact.

  2. Sustainable sourcing: Glentronic Pharmaceuticals has a responsibility to source raw materials in a way that protects ecosystems and preserves resources for future generations.

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