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(A) (1) Explain the term co-operative relationship between stakeholders in a business. (ii) Describe one example of a co-operative relationship which could arise between each of the following pairs of stakeholders: Employer and employee . Investor and manager of a business Producer and consumer. (20 marks) (B) Evaluate negotiation, conciliation and arbitration as methods to resolve industrial conflict in the workplace. (20 marks) (C) Read the information supplied and answer the questions which follow. Samsung Electronics abandoned its Galaxy Note 7 smartphone after customers reported that phone batteries were prone to catching fire. Source: adapted from Irish Independent, October 2016 i) Name the act which protects consumers who purchased the Samsung Galaxy Note 7. (ii) Outline three provisions of the act regarding a consumer's statutory (legal) rights in relation to the Samsung Galaxy Note 7. (20 marks) (60 marks) Domestic Environment Question 2 (A) Discuss the challenges facing businesses in the tertiary (services) sector in Ireland. (15 marks) (B) (i) Explain the term code of ethics. (ii) Outline the benefits and challenges for a business of introducing a code of ethics. (20 marks) (C) Ryanair boss Michael O'leary said staff at Dublin Bus are holding the public 'to ransom' and said that the bus service and the rail service should be privatised. Source: The Irish Times, September 2016 (i) Define the term privatisation. (ii) Evaluate the benefits and challenges of privatisation for the Irish economy. (25 marks) (60 marks)Palace Cinema Ltd The Palace Cinema Lid was founded by Paul Murphy in 1967 in a town in the west of Ireland. The cinema has two screens and occupies a large premises on the main street. The cinema provided full-time employment for 10 employees in the past, although that number was reduced following the introduction of the national minimum wage in the Government's Budget 2000. When the business premises were refurbished, the heating system was modernised to reduce the impact of the 'Carbon Tax' which was introduced in Budget 2009. Ticket sales had declined in recent years due to increased competition from a large multiplex cinema located on the outskirts of the town and a growth in online film providers such as Netflix. Paul retired in 2015 and his daughter Joanne was appointed Managing Director. Joanne recognised the need to adapt and develop new opportunities for the company if it was to survive in the future. She completed a business course provided by the Local Enterprise Office (LEO) and she was matched with an experienced business person. With the help of her mentor, Joanne realised that she couldn't compete with the multiplex 9 screen cinema which was offering the latest film releases. Encouraged by her market research Joanne identified a gap in the market for multicultural and international films. She launched a film club called 'Friends of the Palace' which shows international cinema, targeting film lovers and provides an opportunity for audiences of all ages to view films from all over the world. She adopted a flexible approach to pricing. Members could either choose to pay a season subscription at reduced rates, or pay on the night for each film. She modernised the cinema's website, which enabled customers to book on-line. Members receive an e-newsletter once a month with links to the trailers of upcoming films. For those who choose to pay on the night, she also introduced a loyalty card system to encourage repeat purchase. The film club was a huge success and membership continues to grow. In 2017, to celebrate 50 years of the Palace Cinema in the town, it was decided to hold a film festival over the June holiday weekend. Joanne held a brainstorming meeting with her staff who suggested a James Bond theme for the festival, as the first film shown in the cinema in 1967 was You Only Live Twice. Joanne allocated a budget for the film festival and arranged two teams, one to organise the programme of events and create the film workshops and one to take responsibility for the marketing and finance of the festival. Joanne arranged training on team working skills and effective task management. The team with responsibility for the festival programme embraced the opportunity James Bond Film Festival 2017 and invited guest speakers from the UK to discuss the soundtracks and props used in the different films. The marketing and finance team accessed a substantial grant under the Government's 'Town and Village Renewal Scheme' and managed to entice local businesses to become sponsors of the event. The Film Festival proved to be a huge success and the local Chamber of Commerce has called for it to become a regular event. (A) Describe how the Government regulates and encourages business, with reference to Palace Cinema Ltd. (20 marks) (B) Analyse the impacts of changing customer needs on the marketing mix of Palace Cinema Ltd. (30 marks) (C) (i) Outline briefly the difference between 'a controller manager' and 'a facilitator manager'. (ii) Evaluate Joanne's approach to managing the James Bond Film Festival 2017. (30 marks) (80 marks)8. (a) Read the break-even chart below and identify the full labels (not abbreviations) for A, B,C and D. Break Even Chart - Echo Technologies Lid 1350 Answer Box 1200 Full Label A B 250 Value of Sales / Costs It 009) C 450 300 150 25 50 Quantity of units '000 (b) Calculate the Margin of Safety at 75,000 units. Explain what it means. Workings Explanation Answer: 9. (a) Explain the role of the European Commission. (b) Name the two other main decision making institutions of the European Union. (1) (ii) 10. Outline your understanding of the terms inflation rate and interest rate. Inflation rate Interest rate4. Write TRUE or FALSE after each of the following statements. Statements True or False 1. Customs Duty is a tax on goods imported from outside the European Union. 2. Corporation Tax is applied to profits made by every business in Ireland. 3. A P45 is given to employees when their employment is terminated. 4. The existence of Tax Credits reduces the amount of Universal Social Charge to be paid. 5. Capital Acquisitions Tax is a tax on the profits made on the sale of assets. 5. Study the cash flow forecast below and fill in the figures represented by the letters A, B, C, D and E. Cash flow forecast for Intenso Ltd, for the 3'd quarter of 2017 July (E) August (E) September (() Total (E) Total Receipts 20,000 A= 12,000 57,000 Total Payments 14,000 17,000 15,000 46,000 Net Cash 6,000 8,000 B= C= Opening Cash 5,000 11,000 19,000 D= Closing Cash 11,000 19,000 16,000 E= 6. Outline two methods a business may use to minimise bad debts. (i) (ii) 7. (a) Explain the term Global Business. (b) Name two examples of Global Businesses. (1) (ii)1. Column 1 is a list of business terms relating to contract law. Column 2 is a list of possible explanations for these terms. (One explanation does not refer to any of these terms.) Column 1: Terms Column 2: Explanations 1. Specific Performance A. Some contracts must be in writing to be legally valid. 2. Legality of form B. A way of terminating a legal contract. 3. Performance C. The mutual exchange of something of value in a contract. 4. Consideration D. Each party chooses to enter a contract voluntarily. 5. Capacity E. A remedy for breach of contract. F. The legal right to enter into a contract. Match the two lists by placing the letter of the correct explanation under the relevant number below. 1. 2. 3. 4. 5. 2. Circle the correct option in the case of each of the following statements. (i) A Sole Trader business has continuity of existence / is affected by the death of the owner. (ii) The shares of a PLC can be quoted on the stock exchange/cannot be quoted on the stock exchange. (iii) In a Franchise agreement, a fee is paid to the franchisee / franchiser. (iv) In a Co-operative, the voting rights of members depend on their share ownership / are equal. (v) A Partnership is a separate legal entity/ is not a separate legal entity. 3. In the context of business, what do the following letters stand for? Write your answers in the spaces provided. IBEC ICTU ISME IFA CAI