A company's overview

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it is a "term paper" of A company's overview. …

it is a "term paper" of A company's overview.
to crate a term paper in BUS-101(Introduction To Business) course it is important to know about the company, you interested to work on.
the total work can be need more than two or three months for complete a term paper.

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  • 1. Business Term Paper Submitted To : Leo V. Dewri Lecturer, Department of Business Administration, East West University. Course: BUS-101 Sec: 03 Submitted By : On behalf of the Group 3, Taibul Islam (2013-3-10-020)
  • 2. Page | 2 Leo V. Dewri, Lecturer, Department of Business Administration, East West University Dhaka- 1212. Subject: The Letter of Transmittal. Dear Sir, We have successfully prepared a term paper on “Organization Overview”, which we are submitting along with this letter. It was a very good experience for us while we are collecting the information for the preparation of this term paper. We hope that, all the experiences we have got will help us in our near future. Thank you sir for inspiring us and giving us the opportunity to do a practical work by submitting this term paper. If we did any mistake in the preparation, please guide us for correcting all of them and gather more experiences than before. We hope that this term paper will fulfill your expectations and requirements. Thank you very much for your kind consideration and guidance. The acknowledgement letter is also included. Regards, On behalf of the Group 3, Taibul Islam (2013-3-10-020)
  • 3. Page | 3 Acknowledgement Letter This term paper may not be possible without the supports of some peoples. The term paper author, “Taibul Islam” wishes to express his gratitude to the group members for providing the supports, what was necessary during the preparation of this term paper. Author’s another group member helps the author while selecting the organization and while collecting Trade License with all the required information for the term paper. The author wishes to express the deepest gratitude to “Mamun Mia”, the owner of the organization introduced in this term paper, for helping the author and other group members to complete this term paper. Without the help of other group members the term paper would not have been successful. The author is thankful to all his group members for sharing the literature and giving assistance. The author would also like to convey thanks to “Leo V. Dewri”, the Lecturer of the East West University of Bangladesh for inspiring and giving the opportunity to research over a business and then submit it with the term paper. The author also wishes to express his love to his family members for their understanding and their endless love, through the duration of his research work. Author: Taibul Islam I.D.:2013-3-10-020 (Written on behalf of the members of the Group 3)
  • 4. Page | 4 Instruction followed This term paper is written with the instructions given by Leo V. Dewri, the course instructor. So, below is the list of the instructions followed while this term paper by the Author. 1. The “Times New Roman” font is used as the default font 2. The default font size is 12 for the entire Term Paper 3. The default font size is 14 for the headings of the entire Term Paper 4. The entire Term Paper is highly and perfectly aligned Term paper 5. The spacing between the lings is 1.5 for the entire Term Paper Background of the Study The entire Term Paper is prepared by taking direct interviews. The Business Organization is about to being introduced in this Term Paper is a very remarkable business organization of its kind or class. The study of over viewing the business was a very wonder practical work and the practical work involved so many technical works. The study was actually started and end within the given time. Every single success things learned from the study is included with this Term Paper and this Presentation over this Business Organization.
  • 5. Page | 5 Index Content Sub Content Page Number About the Group 3 List of the Members of the Group 3 6 Organization Introduction Business name and Contact number, Type of the Business, Entrepreneurs Background 7 Products and Services List of the product, Product Sources, Pricing 8-9 Managerial Functions Applied Planning and Organizing, Maintaining and Stuffing, Directing and Controlling 10 Organizational Chart 11 Resource Management Resource Managing Cost, Personnel Required, Analysis of Monthly Fixed Cost, Size of Business 12-13 Capital Management Capital Amount, Capital Source, Financial Status, Financial Reporting and Financial Statement Management 14 Business Analysis PEST Analysis, SWOT Analysis 15-18 Business plan for the business 19 Conclusion 20 Trade License 21
  • 6. Page | 6 About Group 3 The Group 3 is a group of 5(five) members of the third section for the course BUS101 (Introduction to Business) of the “fall” semester of the 2013. The group was formed at September of the 2013, under the supervision of the section lecturer “Leo v. Dewri”. The Group is toughly & successfully leading by “Taibul Islam” from the formation of the group. The Group 3 is called the best group of its section because of its research works. The group 3 is the first group of its section to submit the first Term Paper in the right time. Additionally, the members of the Group 3 are the high and top scorers of the section and they are one of the best hard working students of the class with much more interested in the projects. The Group 3 is the most creative group of all. List of the Members of the Group 3: Fahima Jahan (2013-3-10-205) Md. Zahid Hassan (2013-3-10-122) Md. Rokanuzzaman (2013-3-10-118) Taibul Islam (2013-3-10-020) Tanvir Ahmad (2013-2-39-033)
  • 7. Page | 7 Organization Introduction Business name: Taste o` Flavor Official Business Address: Road-71, House-9/D, Gulshan-2, Dhaka. Official Business contact: 01752265446 Date of the Business Establishment: 29th September, 2010 Type of Business: Restaurant Type of the Business Entity: Sole Proprietorship or Sole Trader Business Entrepreneur’s/Business owner’s information Entrepreneur’s/Business owner’s Name: Mamun Mia Entrepreneur’s Residential Address: Boro Baradia, Badda, word no.6 , Dhaka-1212 Entrepreneur’s Phone Number: 01752265446 Now the Taste o` Flavor is in 3rd year, maybe they will increase more than their prediction. And for our loyal customer they’ll take extra care which they supposed to want. For their better and quick service, they want to develop their technological side and they want to buy more machines when they invest more capital.
  • 8. Page | 8 Products And Services Their Menu: 1) Fast Food 2) Cake 3) Bakery 4) Soups/ Salads 5) Beverage/ Juice 6) Ice-Cream 7) Tea / Coffee As a fast food & ice-cream shop they provide all kinds of fast food and ice-cream. All foods can be distinguished for each personal such as heavy spicy or regular flavor and also the children appetite. In fast food item there is burger, pizza, Hotdog, patties, noodles, chicken fry, sandwich, salads and many others with their respective categories. And their ice-cream items are Vanilla, Strawberry, Black forest, Nuts Fruits, Pistachio, Meringue Glaces, Stracciatella and etc. For pastry item they serve Vanilla Pastry, Ganache, pishtachid, mango mousse, fruitetart, Soffiato, white ganache and many others familiar items. A burger is only as good as the ingredients that make it. Red, ripe tomatoes, fresh lettuce and onions, crunchy pickles you name it and all the item of burger will made by the machine, no handmade items. During the launch time and for dinner time they provide Chinese food. As a greater number of Muslim community country therefore they serve people only with chicken, beef and fish like shrimp and prawn but later they will also provide mutton and lamb in the menu. In each respective product we specially observe the quality and the nutrition fact, so the customers can easily have their food with satisfaction. The raw material they use for the food as the best quality which can be compared as any other multinational fast food chain product like
  • 9. Page | 9 Pizza Hut, KFC and Wendy’s etc. Suppose the quality of bun, oil, meat, fish and vegetables which they provide from outsource will be taken a special care with extra paid money than any other. Such as the outsourcer will only get the contract if it is in good quality or not. Product Sources: The Business has different suppliers as its product sources. Most of the time, the suppliers deliver products to the business location. But, some of the items are collected personally because of the quality of the products. Pricing: Their price level is so affordable for the customers. If anyone buy one particular food item pricing upper then 600 taka then he/she will get another food item costs about 150 taka free.
  • 10. Page | 10 Managerial Functions Applied Planning and Organizing: In the managerial functions, planning means deciding the actual thing which is best for reaching a particular goal and the organizing means the steps to take for making plan successfully. It contains descriptions of detailed tactics to be carried to achieve the objectives and goals established. Bases on plan on this matter, Taste O` Flavor always choose the right decision. For that this business is very much growing in the area it is now and they keep their position running almost three years in their reaching goal. Now, they want to turn their business in Baridhara area to serve their customers needs and choices from them. Maintaining and Stuffing: In the managerial functions, maintaining means keeping everything at the same level or rate and the stuffing means the selection, placement, training, development or compensation of staffs. The profit of the business is rapidly growing and maintaining the profit ratio. For that, all the staff of Taste O` Flavor get their good compensations and benefits of their need. Directing and Controlling: In the managerial functions, directing actually means giving instructions, initiating, actions, issuing directives or making the assignments and the controlling means making everything perfect or checking if stuffs are following commends for reaching goals. The business is directly direct by the business owner or entrepreneur. The business owner is so good in directing and controlling for that the profit and fame of this business is rapidly growing. For achieving the planned goal, the business owner already controls stuffs, expenses, customer’s services and some other thing. They provide excellent customer service and every year we will try to give reward to our best staffs. They will not compromise with their services and they’ll try to customer’s heart by providing them best service.
  • 11. Page | 11 Organizational Chart In every organization the Chart of a graphic blueprint or map of positions, people, and formal authority relationships has been done. There is a Chart about Taste o` Flavor is bellow: CFO/Director /Store manager Cook-I (Fast Food) Assistent Cook Cook-II (Chinese Food) Assistent Cook Waiters Sceurity Gard Deliveryboy
  • 12. Page | 12 Resource Management Resource Managing Cost: The business has sufficient resources for doing their business profitable. The resources of the office equipments are given bellow: ITEMS NUMBER Computers (full sets) 2 Chairs & Sofas 12 Cabinets/ Office staffs 2 Tables 4 Air Conditioner 3 Cleaning Equipments 5 Light 8 Fan 3 Personnel Required: There are two departments working in the 24/7 Shop: Office and Store and Outlet. Among four of the directors three will be individually responsible for the Finance and Accounting, Marketing and Sales and Human Resource department. The other two will be responsible for coordinating the whole process and the security system. Analysis of Monthly Fixed Cost: For any financial feasibility analysis is very important to a clear idea about fixed cost because no matter what happens to sale, the amount of fixed cost will remain same and must be paid as long the particular business continues. That is why they have done a through analysis of their monthly fixed cost, which will also help us in preparing a correct income state.
  • 13. Page | 13 Taste Ó Flavor Monthly Fixed expenses SL no. Title Description Amount Total 1 Land Rent Monthly 30000 30000 2 Salary Monthly 90000 90000 3 Utilities Water, Gas, Electricity, Dish 1000+1200+8000+1000 12,000 4 Maintenance Floor and toilet cleaners, dish cleaning liquid, detergents, air fresheners, aerosol etc. 4,000 4,000 5 Generator fuel Diesel 30x2x44 3,420 6 Motorcycle Fuel Petrol .5x30x76 975 7 Motorcycle maintains. Lump sum 500 500 8 Miscellaneous Expenses Lump sum 2000 2,000 Total 142,895 Size of Business: The business is in Gulshan-2 outlet around 1800 sq feet. They allocate the space to decorate with the product shelves, freezes, beverage vending machines and cash counter in a specific manner that portrays the commitment and delicacy of our shop. They also have an office and a store keep our stock inventories along with their outlet. The total rental expense for the whole business will be around Tk 1, 80, 000 per month. The prime concern will be the security because at night in Bangladesh the crime rate is very high. For that, they decided to have CCTV surveillance and security lock system so that it is possible to identify and catch the criminals.
  • 14. Page | 14 Capital Management Capital Amount: 12,000,000.00 BDT Capital Source: Personally Managed Finance Financial Status: Year Annual Revenue Annual Profit 2011 12,717,038 531,034 2012 17,611,803 4,869,769 2013 25,320,491 7,558,978 After having a clear idea of revenue and cost of goods sold it is possible to come up with an Income Statement. They first found out monthly salary and all other fixed cost. They use straight line depreciation method for depreciating the value of the fixed assets. And they calculated that the depreciation for each year will be BDT 921,676 over the 10 year. They hope in the end of every year they will be able to reach their estimated daily sales and later also. Financial Reporting and Financial Statement Management: As the business is not a partnership or limited liability business, the business owner always maintain a clear and standard statement. They use computer to keep the record and count all the finance form past to present. They first record the daily record than count monthly and than yearly, that’s why they able to know the actual financial process.
  • 15. Page | 15 BUSINESS ANALYSIS Bangladesh is experiencing the growth of economy at a constant rate. New business is coming in the market. The recent political stability is working as a blessing for the entrepreneurs to start their dream project. This actually gives us the green signal to start a business which is very unique and which meets the current demand of this fast-paced lifestyle. In Bangladesh, the trend of ready to serve food store business is increasing day by day Fast food industry is booming in our country. The people especially the young generation & teenage are getting habituated with fast food. People are doing lots of fun at fast food shop. Every few day shop is arrival new items. So people rush to the shop. People all time think about healthy and quality food. There are many fast food shop which food is tasty people like to go that shop. Every shop has their individual identical image. These businesses profitable so more and more shops are coming up to open their business. Therefore, we see a very clear view of a great industry in the making. For that a clear Analysis on Taste Ó Flavor is given bellow: PEST Analysis Political Factor: In Bangladesh always suffers instable political situation. This is a major drawback to keep a business in our country. So, keeping a good relation with the government officials. Employment laws defiantly be favorable in terms of dealing with the staffs. They always try to keep this kind of factors. Economical Factor: Bangladesh is started as newly emerging economical country. Many new ventures are emerging so high recently. Taste Ó Flavor also try to keep their all financial statement to reach their goal. Social Factor: As Bangladesh has turning a very fast paced life style, people wish to have a store around the corner where they can find anything. The business shop is in that place what people need. And they always try to keep the social factors as much as possible.
  • 16. Page | 16 Technological Factor: In this 21st century, all people use technology as their need and work perfectly. And the sectors we see all around of as we’ll find them all are use technology as far as possible. That why, “Taste Ó Flavor” also use technology to manufacture foods and keep financial statements. SWOT Analysis Strength  They are the best among in our area In this area, there are no other food shops so now Taste o` Flavor is best as new food shop.  They provide quality service So far, they planned for their business, the owner decided to put more emphasis on providing quality service. They know for a business, it is very important to pay attention to the service quality as it attracts customer.  Average price In the shop, food price is average from other shops so people can buy food in less afford.  Extensive marketing strategy They mostly emphasize on marketing and advertising activities and run promotional campaigns; advertise on newspapers, banners and many more.  They have tasty food item They have our own specialty for making food. Which make them different from other shops.  They have impressive decoration When customers are entering in ours shop, they found homey environment. On the other hand, the shop used all different furniture. People can feel relax to come this shop because of this type decoration.
  • 17. Page | 17 Weakness  Brand unawareness Unawareness of our brand among customers is our main weakness. But we are able to overcome this obstacle at the very first stage through extensive advertising and promotion. It is very tough thing to maintain as well.  They could not be able to train their employees We all know that trained employees are asset for an organization. So he has fewer amounts of workers. He doesn’t have any human resource department to train workers.  Lack of knowledge As they are very new in this business and this is the first time that they have come up with such idea, it is obvious that will have lack of service knowledge.  Limited capital He has limited capital. But gradually he makes profit, when he just started business and he invested little. So,he can’t add more item because of new business it’s tough to handle huge item.  Few employees Now shop has a small number of employees. When business will increase, he recite more staff. Opportunities  Expansion in other areas of Bangladesh They start their shop at nice place. So, they’ll also be able to expand our business in different parts of our country. Lowly they invest more.  The owner of the business are educated The business owner is educated and studied in the field of business. In market environment, he often observes that many business fail due to the lack of education of the founder. But in that case the situation is different.  Entrepreneurial opportunities Because of the all time taste are changing and there are need to change products too. He will be making innovative services for food, as time will change.
  • 18. Page | 18  Adding new item They have opportunity for adding continental food items.  Changing customer choice People are most of the time pick common or regular item. When offering Mexican, Italian, various type Indian, Thai, Chinese food then people start pick different one.  Create branch After people knowing they want to open our more shops. At many areas which is very common place and well known in Dhaka. Threats  Huge competitors It is a very profitable business. Though they have few competitor but they think within few days they face huge amount of competitors like KFC, BFC, Pizza Hut etc.  Political environment In our country, Political situation is not good at all. It always inhibits the growing of business. In this case, they can face problems to run our business due to politically unfriendly environment.  Changing price Now they charging average price but when product price will increase or they recruit more staff then few amount of price will changing so customer can misunderstood us.  Tax increases All time tax rates are up downing so its pain full for business.  Increasing land price In future, they want to rent or buy more shops so if land price increasing day by day it bad for them then they need more invest and they will taking land in high price.  More health conscious customer Some customers are become more health conscious they think about fast food it is junk food.
  • 19. Page | 19 Business plan For the business Chart1: This chart is about the rate of Annual revenue of “Taste o` Flavor” with the competitors Chart2: This chart is about the rate of Annual profit of “Taste o` Flavor” with the competitors Here these two chart is a rate of “Taste o` Flavor” with the competitors in the area it is situated from 2011 to 2013 by the term of financial statement. 0 50,00,000 1,00,00,000 1,50,00,000 2,00,00,000 2,50,00,000 3,00,00,000 2011 2012 2013 Taste o` Flavor Competitors 0 10,00,000 20,00,000 30,00,000 40,00,000 50,00,000 60,00,000 70,00,000 80,00,000 2011 2012 2013 Taste o` Flavor Competitors
  • 20. Page | 20 Conclusion The Business Owner showed his pure honesty in the interview, taken for preparing for the term paper. An honest businessman is a precious asset for a country. The information collected from the Owner were verified by our Group 3 and found everything correctly and as stated by the business Owner. In the interview we all were impressed by the Business owner for his kind and friendly behavior. At the conclusion it is clear that, the business Organization, what is introduced with this term paper, is in a good condition by compared there financial status. And the spirits of the Business Owner is so much helpful for running this business and reach that goal what this is wanted. As an entrepreneur the owner of the business did a good job by achieving profit continuously. So, for maintaining the profit and recovering the unexpected losses the business owner should be more conscious. All businesses will experience ups and downs. So, if the Business can maintain at least its position till the end of the current situation, the business can be a highly profitable business and be a leading food corner in the area.
  • 21. Page | 21 Trade License The way of getting the Trade License: Direct Application Submission The business Owner submitted an application for the trade license to the local Trade License Authority and his application become successful at 29th September, 2010 by approving for trading. Documents submitted with the Application: 1. Attested copy of the Rent Receipt or the Rental Agreement 2. Attested copy of the Holding Tax Payment Receipt with 2 passport Size Photo All of those documents were submitted to the Tax Department of the Dhaka City Corporation. Area of the tax department of the Dhaka City Corporation: Area 09 (Gulshan-2, Dhaka) Trade License Authority: Tax Department of the Dhaka City Corporation. Photocopy of the Trade license: Attached at the end part of this document. The Photocopy of the Trade license, which is attached with this document, is directly given by the business owner. The interviewers have seen the main copy of the License and ensuring that, the Trade License used here is original.