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A-Z Glossary

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Glossary Definitions

  • IBEC
    The Irish Business and Employers Confederation is an interest group that represents most large businesses in the country i.e. those with over 50 workers .With well over 4,000 members it is the voice of employers and as such represents its members when dealing with the "social partners".
  • LRC (12th Edition)
  • ICTU
    The Irish Congress of Trade Unions is an umbrella body for most (54) of the 61 trade unions in the country. These figures do change often with some unions merging, some new unions being formed and some unions leaving Congress. ICTU seeks improvements in working conditions and pay for its members and represents the trade union movement amongst the "social " partners.
  • Income Tax
    Every individual with income of any kind is liable for income tax if the income is above the threshold. A taxpayer may benefit from tax credits to decrease the liability.
  • Revenue (6th Edition)
  • Incubation Centres
    An environment that provides the entrepreneur with a solid platform for starting and growing a business. Low-cost space and shared services reduce overheads in the crucial early development stage of a new enterprise, and the constant availability of practical business advice and assistance contributes to the long-term survival and success of the business.
  • AIB (10th Edition)
  • Independent retailers
    These are shops usually owned by sole traders or family concerns. They have no link to any voluntary group. They are attractive to consumers because they have very long opening hours and often offer credit to long standing customers. They sometimes provide delivery services and most still have a friendly atmosphere to shop in.
  • Musgrave (6th Edition)
  • Indirect Costs
    The costs associated with impacts or consequences of a strategy, issue or programme.
  • Department of Health and Children (10th Edition)
  • Industrial Relations
    The quality of relations between employers and employees. The Industrial Relations Act 1990, established by the LRC, set out the rules for proper conduct during industrial disputes.
  • LGMSB (9th Edition)
  • Industrial Relations Officer (IRO)
    An officer of the LRC appointed to mediate in industrial disputes. All IROs come from an independent public service background. They are trained and experienced experts in mediation and conciliation techniques.
  • Labour Relations Commission (9th Edition) | LRC (12th Edition)
  • Industrial Revolution
    The Industrial Revolution was a period of rapid industrial growth causing a radical shift in focus from agriculture to industry during the late 1700's and early 1800's. A dramatic increase in city populations was one of the effects of the Industrial Revolution. (circa 1750 to 1850)
  • Diageo (8th Edition)
  • Inflation
    This is a steady and persistent increase in the general level of prices. Inflation can occur due to an increase in demand, when 'too much money is chasing too few goods', or when the producer increases prices to cover increasing costs of production.
  • National Roads Authority (8th Edition)
  • Informal Organisation
    This is a business that is more lateral than hierarchical in structure due to increased empowerment of workers working toward a common goal.
  • Irish League of Credit Unions (6th Edition)
  • Information technology
    The use of computers and other electronic means to access and process large quantities of data.
  • Musgrave (6th Edition)
  • Infrastructure
    A country's stock of assets. It includes economic assets such as roads and airports and social assets such as museums and libraries.
  • Tourism Ireland (9th Edition)
  • Infrastructural Deficit
    Under-investment of infrastructure, coupled with rapid economic growth has left Ireland with insufficient infrastructure for the needs of the country.
  • NTMA (8th Edition)
  • Innovative
    Suggesting new business opportunities that should be considered by the business in order to maximise profits.
  • BT Ireland (9th Edition)
  • Inorganic growth
    When a firm acquires other companies, merges with other firms or forms alliances.
  • CRH (13th Edition)
  • Insurance
    Means taking out protection against a possible loss, which may occur. If a risk can be insured against the insured pays a yearly fee called a premium to the insurance company (the insurer). In the event of the insured making a valid claim to the insurer that they will receive adequate compensation. Under the principle of indemnity the insured should not make a profit from their loss. There are many types of insurance including Marine, Motor, Property etc.
  • AIB (9th Edition)
  • Intellectual Property (IP)
    IP is an intangible asset and represents a legal claim to some future benefit. Other examples include Goodwill, Patents, Copyrights, and Trademarks.
  • InterTradeIreland (6th Edition)
  • Interest Groups
    Representative organisations of various stakeholders who try to achieve results by applying pressure on other organisations.
  • Department of Health (9th Edition)
  • Interim results
    Company results for the first six months of that company's financial year.
  • Internet Service Provider (ISP)
    An Internet service provider is a company that offers its customers access to the Internet.
  • IP Trust / INFACT (13th Edition)
  • Intranet
    A form of internal communications by computer. Transnational organisations can use the Intranet to communicate with branches worldwide sharing information on best practice and functions like research and development. The information is encrypted in such a way that only these branches can access the information on the site.
  • Dell Ireland (6th Edition)
  • Intrepreneur
    This person operates in a similar fashion to an entrepreneur, but comes up with innovative ideas from within an organisation of which they are an employee e.g. transnational company.
  • Invisible Export
    Hospitality is an export industry. An export is a product produced in one country and sold in another. Normally we think of exports as something we transport in return for a price, but in the case of tourism there is no physical product. This is why tourism is often called an invisible export.
  • Bord Failte (6th Edition)
  • IP
    Internet Protocol, the standard method of transporting data across the Internet.
  • IP Trust / INFACT (13th Edition)
  • ISO 9002
    This quality assurance model applies to organisations that produce, install, and service products. ISO expects organisations to apply this model and meet these requirements through a quality system.
  • Guinness UDV (6th Edition)