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A vacancy has arisen in LMN Ltd for the position of Office Manager - Leaving Cert Business - Question 6 - 2008

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A vacancy has arisen in LMN Ltd for the position of Office Manager. John Muldoon is the Human Resource Manager and he wants to fill this position internally. (A) Dr... show full transcript

Worked Solution & Example Answer:A vacancy has arisen in LMN Ltd for the position of Office Manager - Leaving Cert Business - Question 6 - 2008

Step 1

Draft, using today's date, a Memorandum (memo) from John Muldoon to all staff reminding them that the closing date for job applications is the 20th June, 2008.

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Answer

To: All members of staff
From: John Muldoon, Human Resource Manager
Date: 10th June 2008
Re: Vacancy for Office Manager
This is to remind you that the closing date for job applications is the 20th June, 2008.
Signed: John Muldoon

Step 2

Apart from memos, name three other methods of internal communication.

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Answer

  1. Notice Board
  2. Meetings
  3. Intranet/Internet

Step 3

Identify and explain three factors that affect the choice of methods of communication in business.

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Answer

  1. Cost: The financial implications of different communication methods can influence the choice, with cheaper options often preferred.

  2. Urgency: Some methods allow for quicker communication than others, which is critical for time-sensitive matters.

  3. Confidentiality: The need for secure communication can limit options, as sensitive information requires more private channels.

Step 4

Outline two advantages for LMN Ltd of recruiting internally.

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Answer

  1. Motivation: Employees will see that hard work and commitment can lead to promotion, boosting morale.

  2. Knowledge: Existing employees have an understanding of the business, which can reduce the training and adjustment period.

Step 5

Explain the following terms: (i) Stock Control.

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Answer

Stock Control: Ensuring that the business has sufficient stock on hand to satisfy demand while keeping costs to a minimum. This involves maintaining optimal stock levels, re-order levels, and monitoring stock turnover rates.

Step 6

Explain the following terms: (ii) Financial Control.

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Answer

Financial Control: The process of ensuring that the business has sufficient funds to meet its obligations, including monitoring costs, managing accounts, and ratios.

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