Archive for the 'Business Studies' Category

Best of luck in the exams!

Best wishes to our Accounting, Business, Business Studies and Economics students in their State Examinations next week.


Enterprise in action

Watch the following video of Seán Brett, owner of Steeltech Sheds. An example of enterprise in action.

County Enterprise Awards 2017

Congratulations to TY team Cattlestop who won the senior Student County Enterprise Awards Final. These students will go on to represent St Gerald’s College in the National Final in Croke Park on May 3rd. The team is made up of Conor O’Brien, Mark Walsh, Niall Walsh, Micheal Kilcoyne and Joe Howley.

Inflation Revision-ECB close to its 2% inflation target

EMU Interactive Inflation Graph


Inflation Revision questions  preparation 

1. Causes of Inflation- demand-pull, cost-push, Governmentt induced, imported inflation (trade).

2. Economic affects of rising inflation on the Irish economy – employment, savings, balance of payments, standard of living.

3. Calculation of Simple Index and Composite Price Index.

4. View current rates above.

Budget 2017




What is a Patent?

A patent is a right granted to anyone, for a limited period, the right to exclude others from exploiting (making, using, selling, importing) the patented invention, except with the consent of the owner of the patent.

A patent is an example of intellectual property (otherwise known as IP) and is an example of an intangible asset in accounting.

This video explains patents, trademarks and copyright:

A patent lasts for a limited period of time, normally twenty years. Ireland also offers a “short-term” patent, valid for a maximum of ten years. To maintain a patent in force, annual renewal fees must be paid each year from the third year. Patents are territorial, in effect e.g. an Irish patent is only valid in Ireland.

You may have also heard of the term “patent pending” from shows such as Dragon’s Den. This is a term often used on products to alert competitors that an application has been made to protect the invention.

You can look up existing patents in Ireland by going to the Irish Patents Office website.

Do you know what was the first patent registered in Ireland? Find the answer below.

Here are some famous patents granted in the past:

  • In 1931 Alfred Butts translated his lifelong love of crossword puzzles into a board game called “Criss Cross Words” – later to become known as Scrabble.
  • In 1933, Charles B. Darrow played a game on oil cloth on his kitchen table. He played “Monopoly” at home with his family and friends and soon fell in love with the game’s exciting promise of fame and fortune. Today, an estimated 500 million players from around the world have been mesmerized by the MONOPOLY® game.
  • In 1843, after ten years of tireless work and abject poverty, Charles Goodyear perfects his process for “vulcanizing” rubber, or combining it with sulfur to create a soft, pliable substance unaffected by weather.
  • The VICTORINOX “Swiss Army Knife” is over 100 years old. The useful pocket MultiTool was legally registered on June 12, 1897. Over 34,000 of these pocket tools with the distinctive Swiss cross leave the factory in central Switzerland each day.
  • In 1884 George Eastman, American inventor, patented the first film in roll form to prove practicable. In 1888 he perfected the Kodak camera, the first camera designed specifically for roll film, and in 1892 he established the Eastman Kodak Company, at Rochester, New York, one of the first firms to mass-produce standardized photography equipment.
  • The man credited with designing the American flag is Bob Heft. His updated 50-star flag was a class project later adopted by presidential proclamation after Alaska and before Hawaii was admitted to the union in 1959.
  • The Barbie doll, so named after Barbara, daughter of Ruth and Elliot Handler, debuted at the American Toy Fair in New York City in 1959. Since then, Barbie’s popularity has rarely declined, and today, with over one billion dolls sold, the Barbie product line remains the most successful in the history of the toy industry.
  • The first ever patent registered in Ireland was a starter cage for racing dogs and the like in 1929.
  • The first ice cream cone was produced in 1896 by Italo Marchiony. Marchiony, who emigrated from Italy in the late 1800s, invented his ice cream cone in New York City. He was granted a patent in December 1903 U.S. Patent No. 746971.
  • The inventor of Coca-Cola was Dr. John S. Pemberton, in 1885. The formula changed hands three more times before Asa D. Chandler hit upon the idea of carbonating the original drink. The bubbles made all the difference, and he struck gold. The Coca-Cola Company was founded in 1892 and has never looked back.
  • The Rubik’s Cube was invented by Erno Rubik in 1974 when the first working prototype came into being and a patent application was initially drafted. Rubik’s invention was born out of his passionate interest in geometry, the study of 3D forms, and in exploring the hidden possibilities of combination of forms and materials.
  • In 1866, Alfred Nobel, Swedish chemist, inventor, and philanthropist, invented what he called ‘dynamite’ by using an organic packing material to reduce the volatility of nitroglycerin.

JC & LC Christmas Exam Timetables

Timetables for the 3rd & 6th Year Christmas Exams are now available.

JC Christmas Exam Timetable 2014

LC Christmas Exam Timetable 2014

Enterprise Kings

Congratulations to First Year students( team name Enterprise Kings) from left Cillian Loftus, Thomas Leddy, Conall Lynch, Ryan Joyce and Sam Butcher in winning a first year group Insurance Quiz on September 10th 2014, held by Mrs Casey. Well done to all students who participated.Insurance Quiz winners 1st year

Spirit of Enterprise Event: No age limits or barriers to entrepreneurship

A group of TY Enterprise students along with their teacher, Ms Flynn attended the recent Spirit of Enterprise Event at the GMIT Castlebar Innovation Hub.
Guest speakers included Dragon’s Den investor, Insomnia Coffee founder and Newstalk presenter Bobby Kerr along with 14 year old self-taught entrepreneur Jordan Casey of Casey Games. The evening was a great success and hopefully it has given the students in Ms Flynn’s Enterprise class some inspiration and confidence going forward.

spirit of enterprise 1

spirit of enterprise 3

spirit of enterprise 2

Employment rose to 1.9m by end of June – CSO

The number of people working in the State had increased to 1.9 million by the end of June, according to figures from the Central Statistics Office, the highest level of employment since 2009.

The number of people at work increased by 31,600 over the year to June, bringing total employment in the country to 1,901,600.

Seasonally adjusted unemployment fell 46,000 to 254,500 – an unemployment rate of 11.5%. This is down from 12% in the previous quarter.

Meanwhile, the total number of emigrants has fallen to 81,900, while 60,600 moved into the State.

As a result, the total population has grown by 16,700 to stand at 4.6 million, according to the CSO.

Merrion’s chief economist, Alan McQuaid, described the figures as positive, but pointed out that they weren’t as strong as in recent quarters.

Emigration, he said, had been a contributory factor in bringing down the unemployment numbers but judging by the latest figures, there is more to the drop in unemployment than just that.

“Although the recovery path for the labour market won’t entirely be smooth, we do think that the numbers at work will rise and the level of unemployment will continue to fall over the rest of 2014,” Alan McQuaid said.

“We are looking for a net increase in employment of around 36,000 this year. Furthermore, it does now appear as though the jobless rate has peaked, and we are looking for it to fall back to 11.4% on average this year from 13.1% in 2013, which itself was the lowest level since 2009,” he added.

He concluded that there was a possibility that the unemployment rate could drop below 11% by the end of the year.

The association representing small and medium sized businesses, ISME, warned that jobs will not be created if business costs continue to increase and wage levels are being driven up by ‘unrealistic demands.’

The association called for greater emphasis on cost controls in order to maintain competitiveness.

Dermot O’Leary, chief economist at Goodbody Stockbrokers described the recovery in the labour market as impressive and more broad-based than before.

However, he pointed to significant differences across generations and geographies.

“Youth unemployment, those between 15 and 24, stands at 26.9%, down from 29.6% in the same three month period last year. That compares to a rate below 10% for those over 35.”

“From a geographical perspective, the unemployment rate is lowest in Dublin, where it came in at 10%, but stands at over 14% in the South East of the country,” he added.

Philip O’Sullivan, chief economist at Investec said the figures pointed to positive momentum in the labour market, but there was a persistent ‘tail’ of issues.

“While a rising population and decline in net outward migration have positive implications for some areas of the economy, we do note a number of troubling trends, such as persistent large outflows in the 15-44 age group while the profile of those migrating suggests that there are a number of skills mismatches in Ireland,” he concluded.

Davy economist David McNamara said the figures provided further evidence that the labour market continued to improve in the second quarter, driven by the recovery in services and the construction sector.

“We expect unemployment to fall to 11% on average in 2014 and to 9.6% in 2015,” he said.

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Email: sgcbusiness [at] stgeraldscollege [dot] com

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