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Identify two parties in business and describe a competitive relationship between them: - Leaving Cert Business - Question 8 - 2007
Question 8
Identify two parties in business and describe a competitive relationship between them:
Worked Solution & Example Answer:Identify two parties in business and describe a competitive relationship between them: - Leaving Cert Business - Question 8 - 2007
Step 1
Identify two parties in business: Employers and Employees
Answer
In the context of business, the two primary parties we can identify are Employers and Employees. Employers are individuals or organizations that hire workers, while Employees are the individuals who perform tasks in exchange for compensation.
Step 2
Describe a competitive relationship between them
Answer
The relationship between Employers and Employees can be viewed as a competitive one, characterized by differing aims. Employers typically aim to minimize operational costs and maximize productivity, while Employees seek to enhance their job security, salaries, and benefits. This dynamic creates a win/lose relationship, where, for instance, Employees might claim for pay increases, directly competing with Employers' goals of cost reduction. Thus, both parties have interests that may conflict, leading to negotiations and sometimes disputes.