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Pob Sba 2017

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Feel free of will to copy my SBA FOR POB. :) ENJOY

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Pob Sba 2017

  1. 1. 1 CANDIDATE NAME: Denzel Malique Buckman CANDIDATE NUMBER: SUBJECT: PRINCIPLES OF BUSINESS YEAR OF EXAMINATION: 2017 SCHOOLCODE:
  2. 2. 2 TABLE OF CONTENTS TOPICS PAGE NUMBER  ACKNOWLEDGEMENT  DESCRIPTION OF BUSINESS  JUSTIFICATION OF LOCATION  SELECTION OF LABOUR  SOURCES OF CAPITAL  ROLE OF THE ENTREPRENEUR  USE OF TECHNOLOGY  TYPES OF PRODUCTION  LEVEL OF PRODUCTION  QUALITY CONTROL MEASURES  LINKIGES  POTENTIAL FOR INTERNAL/EXTERNAL GROTH 4 5 6 7-9 10 11 12 13 14 15 16 17
  3. 3. 3  GOVERNMENT REGULATION  ETHICAL ISSUES  BIBLIOGRAPHY 18 19 20
  4. 4. 4 ACKNOWLEDGEMENT This School Based Assignment (S.B.A) would not have been finished with out the help of fellow mutual community members who took time, to help complete this assignment. I would like to thank Ms. Simon in assisting, when in need of help. Also to my parents who understood what I was doing and further helped me out. I would like to thank God and fellow business students who shared information and lastly again special thanks to Mr. Simon in helping to choose a Sole Trader business. Thank you!
  5. 5. DESCRIPTION OF BUSINESS LFC Fast Food Restaurant, will be operated as a sole proprietorship. In Trinidad and Tobago, a sole trader must, by law obtain all forms, name search and name reservation, collect the name reservation document, complete registration process and collect the registration certificate, the business will engage in providing speculator meals. Opening hours will be from 9:00 am - 10:00 pm, Monday to Saturday. “EAT GOOD AT LFC.”
  6. 6. 6 JUSTIFICATION OF LOCATION We will be located on Santa Cruz main road of Cantaro Village opposite the Gas station and DETOUR MALL of Trinidad and Tobago. Reasons for choosing this location are:  It is close to working institutions and families can access the location easier due to reasons of being closed to a mall and gas station  Large amount of land space which provides a good amount of space for a fast a parking and drive thru space for customers.  It is situated in a populated area; hence more customers are more likely to stop at the fast food restaurant for a meal or snack.  There will be no need for high transportation cost in getting the material to the fast food restaurant because the material is produce closed by.
  7. 7. 7 SELECTION OF LABOUR The production staff will have to be skilled workers who are both knowledgeable and trained about the job which requires a lot of expertise and skills, also the supervisor who will inspect the goods for quality control. The other staff members will be semi-skilled, there not required to have the expertise, apprenticeship and skills associated with the production to be qualified for the job. This labor is needed for the production of quality products and proper usage of the machines as safety is of uttermost concern to avoid accidents.
  8. 8. 8 NUMBER OF EMPLOYEES FUNCTION POSITION TYPE OF LAYBOUR 1  In charge of entire fast- food restaurant and the employees that work within.  Director Store  Professional 1  Overall reasonability for managing both the revenue and costof the company  General Manager  Professional 2  To prepare meals and pastries.  Chief  Professional 3  To cash the prices of meals purchased by the customer  Cashier  Skilled 4  To server customers their meals.  Waiter  Semi- Skilled 1  To ensure safety of the business.  Security  Skilled
  9. 9. 9 2  To ensure business is hygienic clean at all times.  Janitor  skilled
  10. 10. 10 SOURCE OF CAPITAL WORKING CAPITAL Is capital is continually changing in quantity. LFC plans to accomplish this daily from the operations of the business also with-in delivery tips, from the selling and delivering of food. FIXED CAPITAL These are the durable (long-term) assets of a business which are used over a long period of time and are tied up in permanent use. For example: Land, building, machinery
  11. 11. 11 ROLE OF THE ENTREPRENEUR An entrepreneur is a person who undertakes his or her risk involved in establishing and running a new business. Entrepreneur is characterized by the role they play in enterprise:  Planning and developing new ideas.  Accessing funds to operate the business.  Looking for ways to improve the production of goods and services.
  12. 12. 12 USE OF TECHNOLOGY The business will: Use a appropriate food preparation and storage technology, including freezers and refrigerators, stoves and microwaves cooking a mechanical food preparation equipment.  Making payments via debit/credit card, without the use of cash  mobile internet access, cellular phone and text messaging to communicate with delivery staff. THE TECHNOLOGYWILL PRODUCE THESE BENEFITS:  Food preparation and storage technology will reduce staff time needed in food preparation as well as improving food safety and product quality  Communication technology will allow us to keep track of deliveries, identify delays and take appropriate corrective actions.
  13. 13. 13 TYPES OF PRODUCTION The business will be considered Tertiary production. This is where the business will offer services. The business will provide services such as delivery of the food which is being provided.
  14. 14. 14 LEVELS OF PRODUCTION The level of production this business will engage in is Domestic Production. This will be predominantly when everything that is produced is local (in our country). This particular level of production that will be carried out by the business, also doesn’t involve any imports or exports from or to foreign countries.
  15. 15. 15 QUALITY CONTROLMEASURES Quality control is the process of ensuring that a company’s products meet the standards that the firm has set, or the legal requirements. QUALITY LOW CONTROLMEASURES WE PRACTICE ARE:  The evaluation of work of the employees to ensure if the tasks are being done correctly. The manger will observe his/her employees and make reports on what can be improved on for future task to be completed properly.  Ensuring proper sanitation and safety of the working conditions is another quality control measure that will be undertaken by the manager. This will be done by implementing instructions and regulations for employees to follow which in most cases will get daily objectives of the business done with ease.  Proper food storage and stocking. Employs will ensure this task with help from the manager, assisting them on where the following items should be stored.
  16. 16. 16 LINKAGES Purchasing fruits and vegetables from the local market suppliers. This is how we formulate a backward linkage. The linkage will allow us to source fresh produce, to minimize delivery time. This will provide a close relationship with our suppliers to ensure product quality.
  17. 17. 17 POTENTIALFOR INTERNALGROWTH For this forthcoming business, there will be a great infrastructural expansion within the next five to ten years. Future purchase more machinery, office equipment and employers. POTENTIALFOR EXTERNALGROWTH This forthcoming business intends to have different branches through out the whole of Trinidad within the next eight to ten years. Our intensions are to make our restaurant company well known through Trinidad alone.
  18. 18. 18 GOVERNMENTREGULATION All business need inherit certain government regulations. First, the manager will register the business with the Registrar of Companies in order to show that it is a legal operating entity. This will enhance the image of the entity in that customers can feel safe while conducting business with SPECTACULAR MEALS. LFC as it will not be an illegal entity. Secondly, the business will obtain a Tax Registration Number (TRN), in order to pay taxes on time and in the correct proportion as it is stipulated by the government that all legal operating entity in the country should pay taxes. In doing this, the business will have a good reputation both in the eyes of the government and its customers. The managers also need to obtain a license in order to offer the goods it has conceptualized. Failure to abide these regulations will result in the business facing serious penalties and business or law suits against customers due to damage of their clothes.
  19. 19. 19 ETHICAL ISSUES A problem or situation that requires a person or organization to choose between alternatives that must be evaluated as a perfect decision or not. Ethical issues which are related to production in the business are transactions between the organization and the environment that leads to pollution, global warming, increase in water toxicity and diminishing natural resources. This will affect the business positively. It helps the business to stay in line with how we deal with our waste. The way in which the business disposes it’s waste could cause pollution and global warming which is harmful to our environment.
  20. 20. 20 BIBLIOGRAPHY  Dr. Alan Whitcomb: Essential Principles of Business for CSEC 3rd Edition Pearson Education Limited (2006) Chapter’s 2,3,4,7,8,12,13,14,15,19

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