my cape management of business 2012

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my cape management of business 2012

  1. 1. In Partial Completions Of My Cape Management of Business 2012/2013 ExaminationNAME: Anu MaharajSCHOOL: Upper Level Educational InstitutionSUBJECT: Management Of BusinessTEACHERS NAME: Mrs. Meera SinghCENTRE NUMBER:TITLE:
  2. 2. Table of contentsTopic pageAcknowledgement…………………………………………………….…………………..……..1Project Aims and objective…………………………………….………….…………………….2Methodology………………………………………….….......................................................................3-4Introduction/description ofbusiness...................................................................…........................................5Thereport………………………………………………….......................................................................6-9Aim and objectives ofbusiness…………………………………...........................................................10Analysis of business aims and objectives……………...……………………………......….....11-13Recommendation………………………………………….………………………………….....14Corporateculture……………………………………………….............................................................15Analysis of corporateculture……………………………...................................................................16-17Recommendation of corporateculture………………………................................................................18
  3. 3. Motivation ofworkers………………………………………….............................................................19Recommendationmotivation…………………………………...............................................................20References…………………………………………………........................................................................21Functional organizational structure…………………………………………………....…........22Appendix…………………………………………………………………….......23-27 Acknowledgement Firstly I would like to give thanks to the almighty god for givingme the strength, guidance, knowledge and understanding that Ineeded to complete my internal - assessment for without him nothingis possible. Secondly special thanks for my management of business teacher,Misses Meera Singh for her guidelines and time she willfully spendwith me into the successful completion into this task.
  4. 4. Project Aims and objectiveThe triumphant completion of this internal assessment involves theconsummation, of achieving the following objective;  To successfully achieve objective and guideline inaugurate for cape standard regarding the internal assessment.  To scrutinize the operation and activity of business entities and the perseverance of business knowledge in a practical environment.  To further develop one competence towards acquiring managerial and leader ship skills.
  5. 5. Methodology employedThis internal assessment required meritorious and comprehensiveinformation from Setal Fabrication and Construction LimitedCompany which was gathered through the following researchtechniques.Primary research – this was regulated using the followinginstruments:  Questionnaire – A questionnaire is a research instrument consisting of a series of questions and other prompts for the purpose of gathering information from respondents. The questionnaire provided the investigator with the benefits of obtaining quantitative and qualitative information from the business of setal fabrication and construction limited.
  6. 6.  Interview- An interview is a conversation between two people (the interviewer and the interviewee) where questions are asked by the interviewer to obtain information from the interviewee. The interview provided the benefit of direct interaction and instantaneous feedback.  Secondary research- Secondary research (also known as desk research) involves the summary, collation and/or synthesis of existing research rather than primary research, where data is collected from. the following avenues is where information was obtained ; Textbook Library Internet Business website Pass students/family The owner of setal fabrication and construction limited.These secondary sources of data provided me with a foundation tomake this assessment empirical and encompassing.
  7. 7. Introduction/ description of the businessThe private limited company of Setal Fabrication and ConstructionLimited Company was established in 1967 and situated in AbidhRoad, Felicity has grown from being a sole trader business. A privatelimited company is which the liability of the members or subscribersof the company is limited to what they have invested or guaranteedto the company. Limited companies may be limited by shares or byguarantee. The target market of Setal Fabrication and ConstructionLimited is the citizens of Trinidad and Tobago. This is so becauseSetal Fabrication and Construction Limited are investing theircurrency in Trinidad and Tobago in order to bring aboutdevelopment. Setal Fabrication and Construction Limited deals with
  8. 8. the building and construction of buildings by developing thestructure for any building. Some objectives of the business are: To have profit maximization. To ensure that customers are satisfy. To develop the country. To become a multinational business. To acquire more large scale internal and external growth. To be the largest private construction firm in the country. The reportThis internal assessment seeks to gauge and interpret three (3) majoraspects within a business operation. These categories incorporate anunderstanding of the business and it use of aim and objective,corporate culture and motivation of workers.The business operates to achieve the following goals: To have profit maximization- profit maximization is the (short run) process by which a firm determines the price and output level that returns the greatest profit. This will be determined when the total profit in a competitive
  9. 9. market reaches its maximum point where marginal revenueequals marginal cost.To ensure that customers are satisfy- measure of how productsand services supplied by a company meet or surpass customerexpectation. Customer satisfaction is defined as the number ofcustomers, or percentage of total customers, whose reportedexperience with a firm, its products, or its services (ratings)exceeds specified satisfaction goals.( stated by the businessdictionary.To develop the country- this is where all goods and services liewithin the country so that only the country benefits from it.This causes the country to save money rather than having toimport goods the country can produce on its own.To become a multinational business- Setal Fabrication andConstruction Limited wants to have their main headquarters inTrinidad and Tobago and wants to open clones of the business inother countries. This will help the business to acquire moreprofit and are able to provide goods and services to a widermarket of people satisfying more individuals.To acquire more large scale internal and external growth-internal growth is a strategy to develop the base or capabilities
  10. 10. of the business itself. In other words, many businesses willreinvest in employee development, departmental restructuring,or enhanced product offerings in the hopes of providing abroader base on which to provide services/products tocustomers. Internal growth does not produce immediaterevenue increases and may actually require an input ofrevenue to be paid off over time, but internal growth promisesthe potential for future returns on investment where byExternal growth strategies develop actual company size andasset worth. External strategies focus on strategic mergers oracquisitions, increasing the number of mutual relationshipsthrough third parties, and may even include franchising thebusiness model. The larger the number of business partnersand/or franchisees, the greater the net worth of the companyand throughput of cash. These reason external growth strategiestend to produce immediate return on investment.To be the largest private construction firm in the country- SetalFabrication and Construction Limited wants to compete withother firms in order to become bigger, better and more reliablethan other large firms. The reason for the business desiring tobecome larger is so that the owner can raise more profit tosupport his family and to become more larger so that he can
  11. 11. perform more community work such as charity, sponsorship and family days.Also the corporate culture of the business is the beliefs and behaviorsthat determine how a companys employees and managementinteract and handle outside business transactions. Often, corporateculture is implied, not expressly defined, and develops organicallyover time from the cumulative traits of the people the companyhires. A companys culture will be reflected in its dress code, businesshours, office setup, employee benefits, turnover, hiring decisions andtreatment of clients, client satisfaction and every other aspect ofoperations.In addition motivation of workers are well illustrated at setalfabrication and construction limited. Some of these motivationalpractices are listed below; Proper sanitize and clean area to work in- this is where the worker are able to work in an area that is not hazardous or harmful to his/her health. They are motivated to work because they feel a sense of care coming from the manager. Proper working equipments- this is where equipments within the business are always well kept and „up to mark‟. This motivates them because with proper working equipments they will be able to perform at a quick and easy rate which shows them that they are very productive and makes them know a
  12. 12. sense of accomplishment whereby with abnormal equipmentworkers bay get annoyed in doing their job which lowers theirmotivation level also it makes them feel as though they didn‟taccomplish anything for a honest day work.Fringe benefits- this is where employees get the benefits whichcommonly include health insurance, group term life coverage,education reimbursement, childcare and assistancereimbursement, cafeteria plans, employee discounts, personaluse of a company owned vehicle and other similar benefits. Thiswill be beneficial because workers feel as though they areimportant to the business so they make every attempt in gettingtheir job done.A fixed amount of vacation period for each worker- this iswhere workers of the business are gives a certain amount ofvacation period that cannot be altered. This will be motivatethe workers because they know that within their vacation theywon‟t have to work nor their vacation period wont not bereduces.Time if with snacks and beverages- this is where workers aregiven a resting period for which snacks and beverages will begiven to them at a free price. This motivated workers becausethey get a feel of comfort and belonging in the business becausethe manager provides them with refreshments, this will even
  13. 13. motivate them to work even harder to accomplish their objectives. Aim and objectives of the businessObjectives- are guidelines to the business.Aims- refer to the central purpose of vision of a business. WithinSetal Fabrication and Construction Limited the following long-termtactical goals are for visionary aims: Profit gain Growth and expansion Increase market shares
  14. 14. Setal fabrication also uses the mission strategic direction providedsome direction to the business. Mission statement for the business isto provide customers with a building that is “build for perfection,”and will last a dozen life times.In Setal Fabrication and Construction Limited there is also evidenceof direction and motivation through short-term flexible objectiveincluding the following: Diversification of services and products. Promotions to achieve short-term profiteering. Increase consumer awareness. Analysis of business aims and objectivesThe following long-term tactical goals are for visionary aims: Profit gain- this is the additional income gain by a firm from the goods and services provided for the consumers. At setal fabrication and construction limited, the business provides a service to its customers, thus after completion of a project, Setal Fabrication and Construction Limited collects a large sum of additional revenue which is known as profit, Setal Fabrication and Construction Limited also sells extra material (scrap) that remains after the project so that he can make extra profit which
  15. 15. is used to distribute to his workers as a bonus for completing a project. Growth and expansion- growth is defined as the increasing capacity to satisfy the wants of the members of society. This is where the business improves their goods and services so that customers can get a greater satisfaction. The benefit of customer‟s satisfaction to a business is that when customers are satisfied they often return to the business from where they acquired their satisfaction causing the business not to lose any customers. Also this helps with advertising because when consumers get satisfaction they often tend to discuss to their fellow men about the quality service received at the business. Expansion is a business strategy in which growth is obtained by increasing the number of stores in which customers can buy a companys products and services. Unlike relocation, business expansion entails opening up new stores in different physical locations while still maintaining the current business locations. (Stated by the business dictionary). This will be beneficial to the business because the business will be earning more profits and can get access to more customers from the location where they open the new branch.
  16. 16.  Increase market shares- this business assumption identifies the concept that larger firms will be capable of satisfying a larger number of customers than smaller firms. The concept is that the business of Setal Fabrication and Construction Limited should increase their market shares so that they would be able to satisfy a larger or greater quantity of the county‟s population hence the business will make a huge profit gain from this because they are now satisfying a large amount of individuals. Diversification of services and products- Diversification is a form of corporate strategy for a company. It seeks to increase profitability through greater sales volume obtained from new products and new markets. This is where a business has mobility in the factors of production; hence can create new products to be sold to customers so that consumers can experience new products. This will be beneficial to the business because this allows customers not to get bored of the same product but rather gain awareness for the product. Also Setal Fabrication and Construction Limited can improve their services by not only building the frame for the buildings but completing the info structure for the building. Promotion to achieve short term profiteering- Profiteering is disproportionately large or grossly unfair profit, generated
  17. 17. often through manipulation of prices, abuse of dominant position, or by exploiting a bad or unusual situation such as temporary scarcity. There is usually no governmental control over profiteering unless it involves illegal means.(stated by the business dictionary)  Increase consumer awareness- The understanding by an individual of their rights as a consumer concerning available products and services being marketed and sold. The concept involves four categories including safety, choice, information, and the right to be heard. This will help the consumer decide or know about the goods and services sold to them so that they can express their own satisfaction about the product. RecommendationSetal Fabrication and Construction Limited should create otherbranches of the business around the country so that customers canhave easy access to the company, this will be an advantage becausethe business can now reach a greater amount of the countrypopulation.Also Setal Fabrication and Construction Limited can also advertisetheir services to arise customer‟s awareness about the service
  18. 18. provided. Thos will be beneficial because the business is now reachinga wider span of individuals. Corporate cultureCorporate culture refers to the seeded values of companys values andcustoms; professional atmosphere in large corporations andorganizations reflected by dress codes of conduct and by the uniquestyle and policies of the corporation or organization, organizationalculture.
  19. 19. The culture of Setal Fabrication and Construction Limited is aconservative culture; this is a culture that involves the managerconduction his business and its decision after much analysis andthought. This may bring about less risk within the business that maybe fatal to the business which could cause problems within thebusiness organization.The worker of the business enjoys the task culture of the businessbecause more efficient and little risk decision is made becauseworkers are working under strict conditions where as they are givenobjectives which they must do without any distraction of otheremployees. This ensures that workers keep their jobs because if therewas to be a bad decision made by an employee, it could cause theemployee to lose his/her job hence if the bad decision is made by themanager, employees are not accountable because they was followinginstructions. Analysis of corporate cultureThe corporate culture of Setal Fabrication and Construction Limitedallows the business to make strong secure business decision whichmaintains a perfect reputation for the business. As a result of this thebusiness of Setal Fabrication and Construction Limited hasmaintained a high average customer satisfaction because customers
  20. 20. are assure that their service well be well tended and analyze toensure that there are no existing faults that may happen during theproduction process.The following are benefits that may arise from the business being aconservative culture: No customers are lost- this means that when customers benefit from a great job, time and effort placed into doing the service they paid for they would always put their efforts into the business Less cost of advertising because customers do the advertising- this means when customers are satisfied they share their satisfaction with friends, family etc. Business resources are managed adequately- this is so because with a conservative culture the manager can come out with an efficient way to execute an objective without wasting more than enough resources that can be used within the objective. Less faults arise within the business- this is so because consideration is taken for every decision made by the business which benefits the business finically and maintain a reputation among other businesses.
  21. 21. Recommendation of corporate cultureThe business of Setal Fabrication and Construction Limited couldchange the corporate culture of the business from conservativeculture to people culture because people culture involves themanager promoting a culture to motivate workers true socializationand interaction. As a result of the manager interaction with theworkers, workers feel a sense of belonging in the business
  22. 22. encouraging them to be motivated and from this workers even workharder which promotes the efficiency and productivity in thebusiness environment.Benefits of converting the business from a conservative culture to apeople culture are: Workers are motivated- this is so because of the interaction between workers and managers which make them feel important within the business which is very beneficial because workers push their selves harder to complete task within the business because of the effects of motivation. Less money has to spend in motivating workers- because the workers are already motivated due to the interaction and socialization they received from the manager at no cost. Greater productivity within the business- this is so because a motivated worker works more efficient than a d-motivated worker (workers become motivated because of people culture). Motivation of workersAt Setal Fabrication and Construction Limited motivation is highlypromoted. Motivation is where effective management will be capableof encouraging workers to place greater efforts into theirperformance in an attempt towards productivity and job
  23. 23. satisfaction. Some motivational practices that exist at SetalFabrication and Construction Limited are: Recognition/Attention-When your employees accomplish something they have achieved something. Pizza/Popcorn/Cookie Days- Every now and then pizza, popcorn, or cookie days will help break up that everyday routine and help people stay motivated by offering them snacks to relax. Time off -Implement contests that earn time off, People will compete for 15 minutes or 1/2 hour off just as hard as they will for a cash award. Good Working Environment- this is the environment in which employees work in. Fringe benefits- this is where employees get the benefits which commonly include health insurance, group term life coverage, education reimbursement, childcare and assistance reimbursement, cafeteria plans, employee discounts, personal use of a company owned vehicle and other similar benefits Recommendation motivationMotivation practices in which the business of Setal Fabrication andConstruction Limited should use are:
  24. 24. Career Path- employees need to know what is potentially aheadfor them, what opportunities there ahead in life for them. Thiswill make the employee know that the manager cares abouttheir future which inspires them to work harder for thebusiness.Leadership Roles-this is where you give your employeesleadership roles to reward their performance and also to helpyou identify future promotable people. Employees may feel agreat superiority over others, which cause them to feel a highdegree of importance in the business. This also makes theemployees feel a sense of trust from the manager which makesan employee put all their potential into their job.Additional Responsibility- this concept are employees in yourorganization who are begging for and can handle additionalresponsibility, hence by giving them the additionalresponsibility they become motivated.Piece rate – this is where employees get paid for the work theydo in a job. This encourages a employee to work harder becausethey know the harder they work the more money they receives. ReferencesManagement of Business Unit 1 – Siddique Barkarr.Business Studies Lancaster: Causeway Press Limited 1993 – HallDave, Rob Janes and Carlo Raffo.
  25. 25. Business Studies Surrey: United Kingdom– Birchall, John andMorris, Giraham.Managing People in Organizations– Jeremy Adams.Business Studies, United Kingdom– Hammond Susan.Mastering Organizational Behavior – Richard PettingerBuilding a Dream: Good Walter SWork and Organization Behavior – John BrattonBusiness dictionaryHow to Motivate Workers in Tough Times by ERIN WHITEThe business websitewww.Setal_Fabrication&construction_limitedSolvay Brussels school of management.Human behavior patterns and motivation bookletBusiness culture by (Ross A. Wirth, Ph. D. blogCompany culture by F. John RehOrganizational structure by chron.comMethodology at business dictionary.comObjectives of a business- business dictionary.comFunctional organizational structure Of Setal Fabrication and Construction limited Board of directors
  26. 26. Chief executive officer Managing directorAccounts (M) human resource (M) production (M)administration sales payroll quality control transport filing room mailroom (M) Manager
  27. 27. AppendixThe following pie chart shows the times in which the workers of SetalFabrication and Construction report to work.
  28. 28. Time Workers Report To Work 7:00 A.M 7:30 A.M 8:30 A.M 8:30-12:00 A.MAccording to the diagram, it illustrated the time period in whichSetal Fabrication and Construction Limited workers arrive to work.Illustrated above it shows that 40% of the workers report to work at7:00AM also an average of 45% reach to work at 7:30AMthis meansthat 85% of the workers reaches to work on time. Furthermore 10% ofworkers arrive at 8:30AM and 5% of workers arrive between thehours of 8:30AM to 12:00 PM hence this 15% percent of workers areoften late due to road issues or lack of motivation.

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