- 1. PRINCIPLES OF BUSINESS S.B.A PROJECT TITLE- PRODUCTION NAME OF STUDENT –LEROY WALKER NAME OF TEACHER- SCHOOL- FORM- 5 GENERAL DATE DUE-
- 2. TABLE OF CONTENTS
- • DESCRIPTION OF BUSINESS•
- JUSTIFICATION OF LOCATION•
- SELECTION OF APPROPRIATE LABOUR•
- SOURCES OF FIXED AND WORKING CAPITAL•
- ROLE OF ENTREPRENEUR•
- TYPE OF PRODUCTION•
- LEVEL OF PRODUCTION•
- GOVERNMENT REGULATION•
- QUALITY CONTROL MEASURES•
- USE OF TECHNOLOGY•
- POTENTIAL FOR GROWTH
- 3. SECTION # 1 Description of business The type of business we are involved in is the candy business Lush’s luscious candy. This type of business is of partnership type. Lush’s luscious candy is targeting the regional market and is for both adults and kids of all ages. Our mission statement is to provide a low calorie but sweetened candy that willsatisfy the taste buds of our valued customers. This business isowned and operated by Lushard King & Danroy Connell, we were2007 and still running, our contacts are as follows: Email-jayzwalkerhotmail.com ,telephone:-4540243 Our opening hours are as follows: Monday – Thursday: 8:30 to4:30. Fridays 8:30-5:30 and on Saturdays- 9:00-3:30.
- 4. SECTION # 2 Justification of location Lush’s luscious candy is located in Kingstown opposite the wharf.We are located in this vicinity for three reasons for market pull, for customers going to and from mainland St.Vincent or touristexploring the island is in this area, the area is filled with people and where people can be found so we settled here.Transport access, we also chose this area because it is close to thewharf so we can save money on transporting goods from a far distance to ship to other islands so it is cheaper for import & exportof goods and raw materials.For linkage industries, in this area other than the wharf we also have help in getting sugar from a nearby business who sells goodsby wholesale.
- 5. SECTION # 3 Selection of appropriate labor Lush’s luscious candy has approximately 70 workers. We have 2skilled workers, 35 semiskilled and 10 unskilled. The skilled workers are as follows:We have ten (10) machine workers who control the machines creating the candy. Ten (10) ingredient mixers who create a new taste for the candy and also new types of candy. The business alsohas an accountant who keeps track of daily transactions of money,an executive, and two heads of department one for the skilled and the other for the semi-skilled.The semi-skilled workers are consisted of: the truck operators the company has 5 trucks with two with two workers each one driving and the other to load and unload goods giving us a total of 10 truck operators. We also have 15 ingredient workers who load the machines with ingredients for operators.The unskilled are the 10 janitors who clean the building. The reason for choosing this labor force is because it is suitable for this business.
- 6. SECTION # 4 Sources of fixed or working capital Fixed capitals are machinery and other things in the business thatlong life which are used over and over in the production of good sand services in a business. Fixed capital in this business are:trucks, the building, machinery and other equipment. The trucks are used to transport goods (candy) from the factory for sale in and around the island.The building is used for or to facilitate the machinery and workers to produce the goods.Machinery is used to help create a finished product of the candy.Working capital is defined as raw material, money and other items that are used up in the day to day running of the business or the goods that are constantly being used up in the business in its daily operations. E.g. money, sugar coloring.
- 7. SECTION # 5 Role the entrepreneur Lush’s luscious candy is owned by Lushard King & Danroy Connell. Entrepreneur is/are persons who organize and coordinate factors of production. They take risk and make decisions and carry out productions. Three roles of these personnel are:To make the necessary changes to help the business to expand both internally and externally.In expanding the business these persons have to organize the levels of labor suitable for it.Predict what type of candy he/she thinks is needed to produce for the public.
- 8. SECTION # 6 Type of production Lush’s luscious candy is involved in the secondary production.Secondary production is where raw materials are extracted from the Earth and is made into a finished good or products.We are involved in this type of production because we take or obtain raw materials from other businesses and create the candy therefore we are involved in secondary production.
- 9. SECTION # 7 LEVEL OF PRODUCTION Lush’s luscious candy is involved in the surplus level ofproduction. A surplus is an amount of goods produced at a greater amount needed or having a wide variety of goods that is produced for selling or trading it is produce not only to satisfy the domestic wants but also to satisfy other countries.This candy business produces candy locally but we have grown in business so we chose not only to produce for local consumption but to provide for other countries thus elevated us to the surplus level.
- 10. SECTION # 8 Government regulations Lush’s luscious candy is huge business that is obligated to pay taxes because the more profit we make the more tax we are obligated to pay therefore putting a strain on our business.We also have to govern our business with the articles of association and the memorandum of association to govern the internal and external aspects of the company.
- 11. SECTION # 9 Quality control measures Lush’s luscious candy produces a top class low calorie candy. Two quality low control measures we practice are: to have a health specialist to come in once a week to check the machines and the building to make sure they are proper to create the candy.We also have to have the candy taste tested by some specialist after production.
- 12. SECTION # 10 Use of technology Two types of technology that is in the business are:The computers and the candy mixer.The computers are mainly use by the accountants to store information for the future use and information on the daily transactions in the business.The candy mixer is use by the skilled workers after ingredient is added into the chamber. This machine blends them together like cake batter for the other machine to finish its work.
- 13. SECTION # 11 Potential for growth Lush’s luscious candy can grow both internally and externally.Two ways in which we can grow internally are:Upgrading with new and improved candy machinery. We can get more skilled workers to operate the machines. To expand externally we can open new branches in the rural areas around the island.We can also merge with a larger and well known company in the island or regional area thus increasing profits and customers.
Principles of Business
Pob Sba Summary (Sampled Version)
The successful completion of this school based assessment (SBA) would have been more challenging without the assistance of Mrs. Batchelor, who is the researcher’s teacher. Therefore, the researcher would like to express gratitude to her for the guidance she provided along the way. The assistance you all gave, made this script one that is worthy of presentation. Thank you.
TABLE OF CONTENT
Description of the Business
Role of the Entrepreneurs
Use of Technology
Potential for Growth (Internal)
Justification of Location
Selection of Appropriate Labour
Sources of Fixed and Working Capital
Type of Production
Levels of Production
Quality Control Measures
Potential for Growth (External)
This School Based Assessment (SBA) is a requirement for the researcher to pursue Principles of Business in the Caribbean Examination Counsel (CXC), which was presently changed to the Caribbean Secondary Examination Counsel (CSEC). This SBA contributes to 20% of the final grade for this subject. This is a production plan which is done in three profiles (profile i, profile ii, and profile iii). Profile I looks at the description of the business, the roles of the entrepreneurs, the use of technologies, and the internal potential for growth; profile II looks at justifying the location, the selection of appropriate labour, sources of fixed and working capital, type of production, levels of production, quality control measures and linkages; and profile III looks at the external potential for growth, government regulations and the ethical issues.
This project basically gives an insight of the production plan of establishing a multi-operational restaurant. This project can serve as a guide to persons wishing to be an entrepreneur of a restaurant.
A variety of dishes will be made in BETTA’S CUISINE…
For students doing the topic: Establishing a Business: Production
1. Description of business – In this part you are required to give a brief description of your intended business. The examiner should
(a) The name of your intended business e.g. Xtreme Graphics production
(b) The type of business e.g. sole, proprietorship etc.
(c) What is the proposed business engaging in? e.g. production of local fruit juices
(d) The major aims or aims of your business e.g. To make 100% profit by ensuring customer’s satisfaction.
(e) If possible you can give example(s) of the goods and/ services you will be producing.
2. Justification of location– in this part you are required to :
(a) State the location of your intended business, e.g. 152 John Street
(b) Secondly, you will have to list and explain the factors which influence your choice of location. (Check your textbook) e.g. Closeness to raw materials.
3. Selection of appropriate labour– as we already know labour is an important of production and if you don’t select the most appropriate type of labour then inefficiency would take occur and productivity will decline. You are required to”
(a) List the type of labour you will enjoy employ. e.g. cleaner
(b) Then classify them under the three main categories of labour namely:
4. Sources of fixed and working capital– Capital refers to money and all other assets of a person, company or industry that can be converted into money. PHYSICAL CAPITAL consists of fixed capital and working or circulating capital. FIXED capital refers to capital that is of a lasting nature and which does not change its form during the course of production, e.g., factory buildings, machines and tractors. WORKING or CIRCULATING capital changes its form or state during the course of production, e.g., raw materials and partly finished goods. You are required to identify the sources of these capitals. e.g. loans
5. Roles of the Entrepreneur– The entrepreneur is a other factors of production and bear risks. Human factor of production whose main functions are to organize the other factors of production. The entrepreneur consciously moves resources from an area of lower productivity and lower yield to an area of higher productivity and higher yields. You are required to list and briefly explain the roles of the entrepreneur. (Check Note book)
6. Type of production- Production refers to the combining of the factors to create goods and services to satisfy people’s wants and needs. The types (stages) of production should not be confused with the levels of production. You are required to state the type(s) of production your intended business will engage itself in. ( Check Note Book/ Text book)
7. Levels of Production – The levels of production classify the amounts of goods and services produced under three different headings:
- surplus or export levels.
8. Quality control measures- in this part you should be able to define quality as it relates to your business and then you will state the measures/ ways of ensuring quality in your intended business. E.g. hiring only trained employees.
9. Use of technology- We all know that technology plays an important part in any business. If businesses don’t adapts to changes in technology if ultimately lead to making a loss. You are required to show how you will employ technology in your operations.
10. Linkages-. A linkage industry is an industry which is associated or connected to other industries in such a way that the existence of one is dependent on the other, or it enhances the other’s production process. These industries are also referred to as ‘spin-off’ and ‘screwdriver’ industries. You will be required to:
(a.) state the type(s) of linkages your intended business will create and
(b) Why will you create those linkages?
11. Potential for growth– You are required to state if your business will grow and how will it grow. E.g. employing more machineries
12. Government Regulations– Governments in any country has regulations as it relates to the setting up and operations of a business. You are required state some regulations that are enforced in your country as it relates to businesses. e.g. require to pay taxes.
13. Ethical Issues– Ethics has to do with right and wrong, good and bad. You as the entrepreneur should be aware of such issues and its consequences. You are required to list and briefly explain some of those issues as it relates to your business. E.g. Avoiding of poor labeling
14. Communication of information in a logical way using correct Grammar.
You are required to:
(a) Write in future tense, i.e. the event will occur sometime in the future
(b) Correct spelling , punctuation
(c) Subject and verb agreement i.e. the verb of the sentence must agree with the subject.
E.g. The dog is walking. The subject is dog and it is singular (one) and as a result will take a singular verb.
(d) Remember this is a report and should be written in paragraphs.
Prepared by: Raymond Govinda
RGOVINDA Date prepared: 19th July, 2009