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Discuss the benefits for the local community, arising from the success of RIM Ltd - Leaving Cert Business - Question B - 2012
Question B
Discuss the benefits for the local community, arising from the success of RIM Ltd. Economic Benefits: Direct employment/job creation. Jobs are directly created in t... show full transcript
Worked Solution & Example Answer:Discuss the benefits for the local community, arising from the success of RIM Ltd - Leaving Cert Business - Question B - 2012
Step 1
Economic Benefits
Answer
The success of RIM Ltd has had several economic benefits for the local community:
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Direct employment/job creation: The establishment of RIM Ltd has directly created jobs in the community, significantly reducing unemployment. Initially, the number of staff started at 1, but has risen to 30, positively impacting local livelihoods.
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Spin-off employment: As visitor numbers increase, so does spending within the community. Local businesses such as restaurants, shops, and service providers have seen increased profits due to the influx of visitors, fostering a more vibrant local economy.
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Enterprise culture: RIM Ltd has encouraged the establishment of new businesses in the area. Entrepreneurs are motivated by the success of RIM Ltd to open new ventures, enhancing the local economy and diversifying offerings to consumers.
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Local produce: The market supports local producers by sourcing goods directly from them. This not only provides locals with avenues to sell their products but also gives consumers access to fresh, local produce, reducing the need to shop outside their community.
Step 2
Social Benefits
Answer
The social impact of RIM Ltd's success on the local community is equally significant:
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Community spirit and pride: The market serves as a hub for locals and visitors, fostering social interaction and a sense of community. This revitalization contributes to an overall improvement in community spirit.
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Quality of life: RIM Ltd’s presence has enhanced the local environment and amenities, improving the quality of life for residents. As the town becomes more attractive, it promotes a sense of pride and ownership among locals.
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Depopulation prevention: The development of RIM Ltd has created an attractive destination for both residents and visitors, encouraging people to stay within the community rather than relocating elsewhere. This helps maintain the social fabric of Riverport.