Introduction to business final project (final report)


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Introduction to business final project (final report)

  1. 1. Business Final ProjectIntroduction to Business [BUSF0103]Charity DriveGroup Members:Lee Yuan June (0311128)Yip Chin Seng (0311956)Kelvin Chiew Kah Kheng (0311848)Muhammad Hafiz (0311696)Naajid Nseem (0311649)Introduction to Business[BUSF0103]
  2. 2. Table of ContentNo. Topic Page1. Cover page 12. Table of content 23. Objectives 34. Target market 35. Competition analysis 46. Product and packaging 47. Pricing 58. Promotion 5,69. Sponsorship 610. Example of sponsorship letter 711. Distribution 812. Green measures 813. Operation budget 914. Human resource planning 10,1115. Evaluation of results 1216. Executive Summary 1317. References 1418. Appendix 15ObjectivesIntroduction to Business[BUSF0103]
  3. 3. Our group objective is to raise some money for the needed people. After discuss with allof the group members, we decided to donate the money to the SMJK Yu Hua Kajang,which is a school located in Kajang which needed fees for building their new library. Wedecided to choose this school because as a student, we knew that library is veryimportant for every student. Library is a very important source for every student, weneed library to find our information or references on study or assignment. So, wedecided to help out by donating RM2000 to the school for the construction fees.Target MarketIn this project, we mainly target on the students and staffs who are studying andworking in Taylor’s University Lakeside Campus. Besides, these peoples have a betterbackground and most of them have a high standard lifestyle. The peoples who studyingor working in Taylor’s University are all own a smart phone for themselves, and theywould need some protection for their phones, so, this is the reason why we sellingphone cases as our main product in this project. Besides phone cases, we are alsoselling different type of dolls such as lava, despicable me and mandora dolls, these allare the characters of some cartoons and games. The mainly target for the toys are thestudents who as a fans of these cartoons or games. Also, we are selling accessories forgirls and our targets for these accessories are the girls who are studying in Taylor’sUniversity.The spending power for these peoples are quite good because they are all from highstandard family and peoples who studying in Taylor’s University are probably have highspending power. Even though these peoples have high spending power, in our businesswe still do some promotion for the buyers.Competition AnalysisIntroduction to Business[BUSF0103]
  4. 4. The 2 main competitors of our business are undoubtedly the phone case retail booth byour course mates and exterior business from the long-term vendors. Both of thecompetitors are selling phone cases as their product. In terms of our course mate, theirstrength is most likely the variety of the phone cases they offered, while their weaknessis the pricing. On the other hand, the strength and vulnerabilities of the exteriorbusinesses are the extreme cheap set price and the number of workers respectively,this is most probably that they are the wholesaler or the large intake of goods makes thecapital lower. Customers would go for one of the either two because the business doneby our course mate offered a wide range of phone cases for different smartphoneswhilst the exterior vendor is setting a low price and offer a deal for more attractivephone cases.Product and PackagingAfter Mr. Jau, our Business lecturer had given us this final project, charity drive, we thendiscuss about the product we want to sell immediately. A lot of suggestions are givensuch as belt, wallet, sweets, flowers, and etc. But we decided to sell phone cases andsome accessory at last because of the budget problem. We notice that phone casesand accessories have a lower budget cost compared to other products. Besides, wealso notice that phone cases and accessory are more popular and great in demand. Wehad ordered for the newest design of phone cases that most of the teenagersinterested. We got the stock of S2 cases, I-phone 5 cases, i-phone 4 cases, SamsungGalaxy S3 cases, and Samsung Galaxy Note2 cases. Because of the cost is lower soour selling price will also be lower, consumer will not think too much if they really like theproduct because of the low cost needed. The products we ordered are come with thepackage of the original package from its own brand. It is easy to attract the teenagerbecause of its beautiful packaging such as that fit the product exactly.PricingIntroduction to Business[BUSF0103]
  5. 5. For the pricing of the product, we are required to price our product with the doubledprice of the original price of the product. This is the requirement set by our lecturerbefore we had started our assignment. So, we decided to price for a bit higher thandoubled price for the entire product we sell. Our product had a unit cost price aroundRM13-17, so we decided our unit selling price from RM30-35. Some of the product weordered have higher quality and are more attractive, we decided to sold it at a higherprice because of the better quality. We have some difficulties at first when selling ourproducts because all of the consumers are grating for discount. We tried to convincethem by telling them that we are doing this for the charity drive, but then the responseare not too good, then we discuss for some promotion.PromotionOur main marketing message would be “Help the Children” as our charity donation is forSMJK Yu Hua Kajang and it is a school located in Kajang which needed fees forbuilding their new library. Besides, our three main tools or methods to promote ourphone case products to the market are hand-produced posters, Facebook and face-to-face conversation. Hand-produced posters are designed either in words or in pictures,this enables us to present the promotion price to the passerby directly in order to attractmore customer and it is much cheaper than a printed banner. Moreover, throughFacebook we can show our products to the society by sharing the images, it providesmore convenience for people who do not have time to visit our booth and its advertisingrange is a lot wider. By the way, face-to-face conversation is involved during thecollecting of donation by walking around the campus, it has the potential to persuade apeople for visiting our booth as it shows more passion on face-to-face speaking.Introduction to Business[BUSF0103]
  6. 6. Our products image on Facebook Our hand-produced postersSponsorshipIn this project, we are required to find some sponsorship so that we can cover up ourcost of the products. Our target of the sponsorship is RM1800 to cover up our cost ofour products. In every sponsors we find, we have given the sponsorship letter to thesponsors to prove that we are the students from Taylor’s University Lakeside Campuswho are currently doing charity drive event. The targeted sponsors are the persons wepersonally know them, only some of the sponsors are from the business and company.After the sponsors promise that they will sponsors us in the project, we will collect thesponsorship letter back with their signature to prove that they have become oursponsors. The letters we collected from the sponsors are provided in the report. Theexample of the sponsorship letter is shown in the next page.Yip Chin SengIntroduction to Business[BUSF0103]
  7. 7. Foundation in Natural & Built EnvironmentSchool of Architecture, Building & DesignTaylor’s UniversityNo. 1 Jalan Taylors47500 Subang JayaSelangor Darul Ehsan.Mr./Ms./Mdm.Requesting Product Sponsorship for Charity Drive EventWe, the students from the School of Architecture, Taylor’s University, are currentlyinvolved in a fundraising event for our school project in January 2013. Therefore, wewrite this letter with the intention to invite your company to become our sponsor in thisevent.2. Our plan is to raise a total of RM2000.00 via sales of your products. All profits earnedduring the event will be donated to the House of Joy, a place where some of theorphanage live, based in Ampang Jaya, Selangor.3. As you can see, the House of Joy needs in other to keep the orphanage under agood living condition. Therefore, we would be delighted and it would mean a great dealto the shelter if you could assist us in any possible manner.4. I look forward to hearing your reply about our request. You may reach me at 016-9310789.Thank you.Sincerely yours,___________________(YIP CHIN SENG)DistributionIntroduction to Business[BUSF0103]
  8. 8. In term of getting our products, phone cases are taken separately from differentsupplier, 70 of them are order directly online store managed by one of Chin Seng’srelatives and 30 of those are taken from Kelvin’s aunt’s store in Malacca, all accessoriesand dolls are also taken from the online supply stated above. Moreover, the internetproducts are ordered earlier before the charity drive started as it takes 2 weeks time toreach the campus and the others are taken 1 week before directly from the store. By theway, all of the products are directly deliver to the customer without any waiting timerequired. However, on the second day, due to the high demand of the dolls, customersare required to wait for 2 weeks for the dolls to arrive to the campus. Besides, 4 out of10 persons are going to buy our products and make a donation, because we have astronger competitor and much people have different sense of design and may donate toother booth before. Customers may order our doll products through phone call to ChinSeng through the advertisement on Facebook.Green MeasuresOur phone cases are ordered with its original packaging that can be reuse many times.We are not using any plastic bags for the product we sold because plastic bags arenon-biodegradable. We practices the 3R concept, which are recycle, reuse and reduce.We reduce the use of plastic bags by selling our products without providing any plasticbags for consumers. We also reuse the mosaic box that no one is using to keep ourproducts. We also use recycle bags to keep our products besides using the plasticbags.Operation budgetIntroduction to Business[BUSF0103]
  9. 9. In order to arrange our budget to get profit, we had a decided that the maximum cost ofour budget would be RM1500. Basically, we targeted this amount because; we weresure, that we were going to make revenue higher than this, since our products (phonecases) are really popular. Luckily, we did not exceed our targeted cost. Our costsinclude:Phone cases: 900+219 = RM1119Accesories: 0dolls: 200+115= RM315Total cost: RM1434Human Resources PlanningIntroduction to Business[BUSF0103]
  10. 10. In this project, we have divided our work to each of the members, below shows theorganizational structure with a chart.Organizational structure of Lee Yuan June’s group:Introduction to Business[BUSF0103]
  11. 11. Schedule of Tasks and ResponsibilitiesIntroduction to Business[BUSF0103]Position Main tasksProject Manager(Lee Yuan June)Determine the goals and plan outsuitable strategy in order to achievethe goalsAssistant Manager(Yip Chin Seng)To prevent the strategy from strayingoff the path and assist projectmanager in planningAccountant(Naajid Nseem)To perform assigned accounting andrelated clerical support functions.Also, to carry out effectiveresearching, tracking, and resolvingaccounting or documentationproblems and discrepanciesSales Executive(Kelvin Chiew)To take promotional activities bypromoting our existing products.Advertising Executive(Muhammad Hafidz)To spread the promotion of ourproduct
  12. 12. Evaluation of ResultProfit:Dolls : Rm960Phone Cases + Accessories : Rm472Total : Rm1432Donation:Rm182Cost:Dolls : Rm 315Phone Cases + Accessories : Rm 1119Total : Rm 1434Sponsor:400(Chin Seng)+ 400(Naajid)+350(June)+ 370(Hafidz)+ 300(Kelvin) =RM1820(Sponsor – Cost) + Profit + Donation: (1820 – 1434) + 1432 + 182 = Rm2000Introduction to Business[BUSF0103]
  13. 13. Although there is a huge amount of cost, but we are able to cover it up by using thesponsorship supply found by every member of our group. By the way, the donation alsohelps in this case to raise the money to Rm2000. The things that we have done right arethat we include side products in our booth especially the dolls and screen protectorsthat is much lower in the cost and can earn a lot, reduce down the sell price also mayincrease customers in marketing phone cases. On the other hand, the wrong actionsthat we made are the little intake of dolls products and never take in variety of phonecases as people uses different kinds of phone. If we can repeat the event one moretime, we would probably change the dolls to our main products and phone cases andaccessories as our side products, because the dolls are in very high demand among ourcustomers hence it is more able to give a raise in the amount than the phone cases.Executive SummaryIn conclusion, our group members are performing well since the project started. Thecrucial factors that lead to well performance this project are the marketing plan, financialplan, and operation plan. In term of competitors, there are some other groups selling thesame products as discussed in the earlier part. Therefore, we are suggested by ourlecture that we have to sell more products so that we can earn more profit.The main objective of this project is to raise some money for the needed people. Mygroup members and I have decided that we will donate the money to SMJK Yu HuaKajang. The reasons we choose this organization is because they needed fees forbuilding their new library and library is an important source for every students. So, wedecided to help them throughout this business project. After we decided our charityorganization, we target to raise total of RM2000 by selling all of our products for thischarity drive.Introduction to Business[BUSF0103]
  14. 14. Besides that, during the charity drive event, we have done some promotion for ourbusiness such as buy 2 products at the same time will get discount. Also, the pricing forour products are fair so that the customers will come to us and buy our products.References1. Smarta Enterprises Ltd, (2008-2012), 10 ways to be 10% more efficient by nextweek.2. Yahoo! Inc, (2013), How to Run a Simple Charity Collection Drive.3. Introduction to Business, (2013), Chapter 4, Managing a Business.4. VISUALLY INC, (2013), 7 Steps to Make Your Small Business More Effective.Introduction to Business[BUSF0103]
  15. 15. AppendixIntroduction to Business[BUSF0103]We are pasting the promotion paper onthe tableWe are waiting for customer in our storeThe customers are choosing theproducts and we are explaining to them Kelvin is shouting for the promotionThis is our group photo with Kelvin Chiew,Lee Yuan June, Muhammad Hafidz, NaajidNseem and Yip Chin Seng (from left to right)The picture of our products (phone cases)