Caribbean Secondary Education Certificate School Based Assessment Principle of Business This exam is now called CSEC and not CXC Year of Examination: 2018 Name of Candidate: Angelias Gilbert Candidate’s Registration Number: 160070 Name of School: St. Joseph College School Centre Number: 160070 Title of Project: A look of the production of a sole trader Business. Look at the production what ??? Name of Teacher: Mrs.
N. Martinez Territory: Trinidad, West Indies Date Submitted: Score: Marks TABLE OF CONTENTS PRODUCTION FUNCTION DESCRIPTION OF BUSINESS NOTE: Blue highlighting is spelling and grammar errors ! Spring falls Dairy Parlor would be a sole-trader business operated by the Entrepreneur. A sole-trader business isthe mostcommon form of business ownership in which only one individual is running all aspects of the business such asrecord keeping, regulatory controls and avoidance of double taxation. This business will be specializing in providing and making any kind dairy product possible to our consumers. We cater for functions, parties, events ; many more.
This business is involved in the food and beverage industry.Opening hours will be: 9:00am – 4:00pm (Mondays- Saturdays) (See photos in Appendix 1) OJECTIVES To increase profitability To provide good customer service To achieve business globalization MISSION STATEMENT Spring falls Dairy Parlor will be aiming on having the best quality products and fastest services. This will happen by making sure our customers are feeling 100% satisfied with our products;services. JUSTIFICATION OF LOCATION This business will be located at Grand Bazaar LtdOppositeStandards Stores, Uriah Butler ; Churchill Roosevelt, Highway T;T. This address was chosen for these reasons: Easy Accessibility ; Parking for customers- there are a lot of taxis ; parking spots available at this location. Safety- there are security guards ; cameras, to make sure no suspicious activities happen.
Populated area-it is very close to other working institutions such as food courts ; supermarkets meaning there would be a lot of passers-by. You must explain how each reason contributes to the business in terms of ensuring success/contributing to profitability SELECTION OF APPROPRIATE LABOUR Spring falls Dairy Parlor will have a total of 6 employees. Here, you must make reference to the organizational chart You must give the table a label and title and refer to it. For example.
see table below for…. Position Number of Employees Type of Labor Function Cashier 1 Skilled To handle payments ; receipts in the business. Janitor 1 Semi-skilled To ensure the business environment is clean. Driver 1 Semi-skilled To ensure that our goods are delivered to our consumers on time. Pastry Chefs 2 Professional To ensure that our goods are prepared ; ready for consumers General Manager 1 Professional Has full responsibility over managing the cost of the company ; incomes. This type of labor is necessary because it perfectly suits the type of business we run, it is needed to produce quality goods, for our business to function properly ; to make sure our customers are comfortable with our services.
NO ! Firstly, state the qualifications needed for each position. Then , explain why you want these specific qualifications… and why semi-skilled, for example, is acceptable Give a salary range for each SOURCES OF FIXED ; WORKING CAPITAL FIXED CAPITAL – are assets of the business that areof durable(long-term) nature for repeated use over a long period of time. Some sources of fixed capital are: Property owned was used as mortgage for a loan of $280,000 with an interest rate of 5%from Royal Bank of Canada. A personal savings of $100,000 was used to buy machinery, furniture, equipment and vehicles. Explain the loan – must give details of repayment, how much per month etc.
State what you do with the loan in terms of listing and explaining the fixed assets of the business WORKING CAPITAL- is a liquidity ratio that measures a company’s ability to pay off its current liabilities with its current assets. Some sources of working capital are: The money saved from the daily services of the business such as selling & catering events. Borrowing money from family members & relatives for the business financial sector. ???? explain this Also, are you working with any current assets or liabilities ? ROLE OF THE ENTREPRENEUR An entrepreneur is someone who undertakes the risk of investment to create and market a good or service for financial gains. They take advantage of business opportunities that will generate high profits, also has all responsibilities of decision making.
Entrepreneurs can be sole traders, partners or a group of shareholders. Functions of an Entrepreneur: Planning- the goals of the business in the strategic, tactical or operational period. Organizing- the resources of the business to achieve the organizational goals. Evaluation- the performance of business activities. The functions must be explained to show what you actually do for these functions in your business TYPES OF PRODUCTION This business would be involved in Tertiary Production. Tertiary production consists of industries& businesses that provide services to consumers, such as: e.g.Spring falls would be catering products for events and transportation.
Abbreviations are not allowed LEVELS OF PRODUCTION This business will be involved in the Domestic level of Production. The Domestic level is the production of goods for use in the local(home country), this means the business does not involve in any other activities concerning foreign countries.please watch the spacing between your typing QUALITY CONTROL MEASURES Two quality control measures the business will adhere to are: By having refrigerators and cabinets to ensure that our goods are stored properly to prevent spoilage from occurring,also by keeping daily updates of the products expiry dates. Why is spoilage an issue ? relate it to quality and what do the measures you mentioned contribute to the business ? By ensuring that our employees have proper & safety working conditions, this would be managed by our General Manager. How exactly is this ensured ? what does it do in terms of controlling or maintaining quality and how does it affect the business ? USE OF TECHNOLOGY Two types of technology that would be used in our business are: Commercial Ice Cream Freezers Soft Serve Machines These technologies would enhance the efficiency of the business by: Commercial Ice Cream Freezers-this will make sure that our products are kept cold, it also advertises our products by showcasing the different type of products we have to offer & provides storage space. How does this help with production and therefore efficiency ? Soft Serve Machines-this will enhance production by making ice cream products much faster, leaving less work for our pastry chefs & also making our products at better quality & quantity. Issues again with spacing of words.
I am seeing this throughout the entire SBA LINKAGES The type of linkage that would be derived from our business would be forward linkages. This occurs when a finished product is used in another industry as its raw materials. You have not said what the linkage is ! also, a diagram or diagrams are to be used to illustrate the linkage/s which you will explain Our businesswill benefit from this linkage because: Our products & supplies will be purchased in large amounts such as bulks, so it would be much cheaper, making our business profit more income. POTENTIAL FOR GROWTH INTERNAL GROWTH Two ways in which our business will grow internally are: Increasing existing production capacity through investment in new capital & technology. Developing & launch of new products EXTERNAL GROWTH Two ways in which our business will grow externally are: Faster speed of access to new product or market areas.
Secure better distribution channels/ control of supplies What is the importance of these growth possibilities for the business ? how does it contribute to improvement or success ?GOVERNMENT REGULATIONS Some government regulations are: Environmental- this means the environmental surroundings must be clean & the business should not be polluted the environment or else it can be shut down by the government. Employee Taxes- this means every month the business owners would have to pay their employee taxes from their salary to the government, failure to do so can result in the business facing serious penalties. Certificate of Registration- this is a document giving information about an organization on an official list. This ensures that the company is operating legally & the entrepreneurs wouldn’t be fined for illegal operations. Is VAT applicable to your products ? what about paying NIS ? OSHA regulations ??? would you and the workers need Food Badges ? ETHICAL ISSUES One ethical issue that this business will have to adhere to is: Ethics of transaction between the organization ; the environment that lead to pollution, global warming, increases in water toxicity ; diminishing natural resources. The business must fall in line, by disposing our waste in a mannerly order, in this way our business waste would not pollute ; cause harm to the environment.
This will be a positive influence to our business by making sure our I moved a part of this up so you need to complete it. Say what impact NOT adhering has on the business as well
