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Define the ‘secondary sector’ and outline two current trends affecting this sector in Ireland - Leaving Cert Business - Question 6 - 2009
Question 6
Define the ‘secondary sector’ and outline two current trends affecting this sector in Ireland. Current Trends: (i) (ii)
Worked Solution & Example Answer:Define the ‘secondary sector’ and outline two current trends affecting this sector in Ireland - Leaving Cert Business - Question 6 - 2009
Step 1
Define the ‘secondary sector’
Answer
The secondary sector refers to the part of the economy that transforms raw materials from the primary sector into finished goods. This sector includes manufacturing, construction, and various agribusiness activities. Key industries within the secondary sector in Ireland include food production, construction projects, and the manufacturing of diverse products. For instance, the Kerry Group represents a significant player in the food production sub-sector, highlighting the importance of this industries in economic activities.
Step 2
Current Trends: (i)
Answer
One current trend is the decline in employment within the secondary sector. This has been driven by downsizing and closures in various industries, leading to increased unemployment, especially in manufacturing and construction. Companies are restructuring to adapt to changing market conditions, which has a significant impact on job availability.
Step 3
Current Trends: (ii)
Answer
Another trend is the rise in competition faced by the agribusiness sector, particularly in food retail. The entry of foreign retailers such as Lidl and Aldi has intensified competition, forcing local businesses to rethink their pricing and delivery strategies. This has led to a need for innovation and efficiencies in operations to maintain market share.