Leaving Cert Business Enterprise: Illustrate, using examples from

Question

Illustrate, using examples from the above text, four enterprising characteristics/skills shown by Liam.

Liam Best, an electrical engineer, established Renewable Energy Solutions (RES) Ltd ten years ago. The business imports, supplies and installs energy efficient solar panels that are used to heat homes and businesses. While attending a Trade Fair in Germany on behalf of his previous employer, Liam identified a niche in the market for an Irish supplier of solar panels. With twenty years experience in the heating and plumbing supplies business and with no opportunity for promotion, he decided to start his own business.

The past year, however, has been difficult for the business. The construction of new houses has fallen, there has been a steady decline in the sale of solar panels. Costs are rising and the business is finding it more difficult to pass on price increases to customers. Cash flow is tight and Liam is particularly concerned to the fact that two of his largest customers have not paid their bills on time. In addition, the company is finding it difficult to secure short term finance to cover the current credit squeeze. Rising stock levels in the warehouse are also causing problems. A number of customers have recently returned solar panels, as a result of damage caused while in storage in the warehouse or in transit.

Liam is confident that the demand for green energy sources in Ireland will increase again. He believes that the government's new Building Energy Rating (BER) regulations, combined with the increasing demand for more cost effective and environmentally friendly heating systems, will provide opportunities for his business.

However, Liam has e-mailed all staff informing them that action will need to be taken swiftly if business is to survive the current downturn. He believes it is essential that it will be necessary to implement a 10% pay cut with immediate effect.

The staff contacted their trade union to express their concerns about the proposed pay cuts. A future meeting has been organised to discuss staff concerns and agree a response to the pay cut proposed by Liam.

Illustrate, using examples from the above text, four enterprising characteristics/skills shown by Liam - Leaving Cert Business - Question A - 2009

Worked Solution & Example Answer:Illustrate, using examples from the above text, four enterprising characteristics/skills shown by Liam - Leaving Cert Business - Question A - 2009

Liam is a risk taker.

Liam is innovative/creative.

Liam is confident/positive.

Liam is decisive.

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