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Pob sba

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Pob sba

  1. 1. CARIBBEAN EXAMINATION COUNCIL SCHOOL BASED ASSESSMENT (SBA) PRINCIPLES OF BUSINESS NAME: KHIMRAN SURJAN CANDIDATE NUMBER: CENTRE NUMBER: TEACHER: MRS. KAVITA PARTAP SCHOOL: CTS COLLEGE OF BUSINESS AND COMPUTER SCIENCE LTD TERRITORY TRINIDAD AND TOBAGO YEAR OF SBA: 2015
  2. 2. Contents Page Description of Business 3 Justification of Location 4 Selection of Appropriate Labour 5 Sources of Fixed and Working Capital 6 Potential For Growth 7 Role of the Entrepreneur 8 Type of Production 9 Levels of Production 10 Quality Control Measures 11 Use of Technology 12 Linkages 13 Potential For Growth 14 Government Regulations 15 Ethical Issues 16
  3. 3. Description of Business Mystique 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 spectacular meals, delectable pastries and fulfilling beverages. In addition, the business will execute delivery to nearby places and catering for parties. Opening hours will be from 9:00 am – 10:00 pm, Monday to Saturday. Mission Statement Mystique Restaurant will aim to provide the best tasting meals and services. The goal of the business is to let customers feel secure and satisfied when they enter and leave our restaurant. Most importantly the restaurant will aspire to provide an atmosphere which is suitable for adults, teenagers and kids.
  4. 4. Justification of Location We will be located on the old southern main road of Charlieville opposite the gas station near Randy’s Bar of Trinidad and Tobago. Three reasons for choosing this location are:  It is close to working institutions.  Large amount of land space which provides a good amount of space for restaurant, outside dining and parking space for the customers.  It is situated in a populated area; hence more customers are more likely to stop at the restaurant for a meal or snack.
  5. 5. Selection of Appropriate Labour The business will need skilled and experienced staff. There are a total of 11 employees. The table shows the staff’s position, type of labour and function. Position Type of Labour Number of Employees Function Chef Professional 2 To prepare sumptuous meals and pastries Security Skilled 2 To ensure the safety of the business Cashier Skilled 2 To cash the prices of the meals purchased by customers Driver Semi-Skilled 1 To deliver the food to the customers Janitor Semi-Skilled 2 To ensure the business is hygienic at all times Waiter Semi-Skilled 2 To serve customers their meals This type of labour is necessary because it is suitable for the kind of business we manage.
  6. 6. Sources of Fixed and Working Capital 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. Two sources of fixed capital are:  A loan of 1.5 million from the bank using the property owned as collateral.  The use of $500,000 of personal savings in order to buy machinery and motor vehicles. Working Capital These are stocks of goods; cash, bank balances, and other items required for the day to day operation of the business that are continually being used up. Two sources of working capital the business have are:  Money saved from the day to day operations of the business, which is the selling and delivering of food.  Borrowing money from family to finance the business.
  7. 7. Potential For Growth Internal Growth This chart shows the Internal Growth for one (1) year of the business. External Growth This chart shows the External Growth for one (1) year of the business. Year 1 Year 2-5 Year 6-10 0 1 2 3 Dining Area Delivery Service Staff Parking Area Bar Year 1 Year 2-5 Year 6-10 Year 1 Year 2-5 Year 6-10 0 0.5 1 1.5 2 2.5 Mistery Shoppers Franchised Business Year 1 Year 2-5 Year 6-10
  8. 8. Role of the Entrepreneur An entrepreneur is an individual who brings together the factors of production (land, labour and capital) to produce a good or service the he believes consumer will be willing to buy, thus allowing him to profit from his venture. The entrepreneur develops a concept, has overall responsibility for decision making, takes risks, receives profits and bears losses. Functions of the entrepreneur in the business include:  Planning. This is the first stage of management. The entrepreneur of Mystique Restaurant will be responsible for setting goals, deciding on resources needed, and the time line to meet these objectives.  Organizing. The entrepreneur of this prospective business will also be responsible for bringing together all the resources needed, in order to provide the services.  Evaluating Performance. Receiving and analysing daily reports on purchasing costs, production deliveries and sales. Evaluating the overall trends in sales and costs structure. Identifying problems which require corrective action.
  9. 9. Type of Production The business will be involved in Tertiary production. This is where the business will offer services. The business will provide services such as delivery of the food that will be provided.
  10. 10. Levels of Production This business operates at the domestic level of 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 does not involve any imports or exports from or to foreign countries.
  11. 11. Quality Control Measures Two quality control measures the business will carry out are:  The use of the deepfreeze. This will ensure that the meat products are properly stored in order to prevent spoilage.  Another will be, by keeping an update of products with expiry dates. The business will ensure that products are not expired before it is used.
  12. 12. Use of Technology The business will:  Use appropriate food preparation and storage technology, including freezers and refrigerators, heat and microwave cooking and mechanical food preparation equipment.  Use mobile internet access, cellular phones and text messaging to communicate with delivery staff. The technology will 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. Linkages We will buy fruits, vegetables and poultry from the local suppliers. This is backward linkage. The linkage will allow us to source fresh produce, to minimize delivery time and transport costs and to maintain a close relationship with our suppliers to ensure product quality.
  14. 14. Potential For Growth Internal Growth The chart below shows the Internal Growth for the next two (2) – ten (10) years of the business. External Growth If we can develop a strong track record locally, the preferred route for further expansion would be a national operation in which our restaurant is franchised to other businesses. In that way we could increase our revenue and profits without taking on full management responsibility for a large number of branches. The chart below shows the External Growth for the next two (2) – ten (10) years of the business. Year 1 Year 2-5 Year 6-10 0 2 4 6 Dining Area Delivery Service Staff Parking Area Bar Year 1 Year 2-5 Year 6-10 Year 1 Year 2-5 Year 6-10 0 1 2 3 4 5 Mistery Shoppers Franchised Business Year 1 Year 2-5 Year 6-10
  15. 15. Government Regulation The entrepreneur will ensure that all employees have a valid food handler’s permit which must be renewed when required by the law. The business must be legally licensed to operate before it can be officially opened or carry out any operations. This also consists of being passed by a Health Inspector. The health inspector has to check both the hygiene of the environment and the employees. These are two regulations that can have impact on the restaurant. This can either be positive or negative. If the inspector realizes that the food handler’s permit is not up to date the business will be forced to shut down until it is updated. However, if the business passed both test the business could be promoted and that will allowed the business name to get popular.
  16. 16. Ethical Issues Ethical issues are merely guidelines or reminders of how businesses should treat their disposals. 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 its waste could cause pollution and global warming which is harmful to our environment.

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