Principle of Business
1 Description of Business The business shall be called LONG’S COMPUTERS AND MORE LIMITED. It shall be a private enterprise owned by Akeam Long and members of the Long’s family. This will be focusing mainly on Services and Marketing. This business will involve the repairing of computers, laptops and the selling of computers and accessories. The objectives of the firm will be to: – give our customers the best prices on computers and games. -Good quality products that will satisfy our customers. -provides customers with a secure and safe environment for easy shopping -To provide to the customers with great customer service. JUSTIFICATION OF LOCATION The business shall be located on the Pavilion Mall, 10 Constant Spring Road, in the parish of St. Andrew in the vicinity of Half Way Tree. This location would be ideal for the establishing of Long’s Computer’s and More Limited due to the following reasons: * Half Way Tree is a very popular and busy area frequented by a wide range of possible customers, including business professionals and students from high schools and tertiary institutions. * It is in close proximity to the bus terminus which is a central location for many persons traveling. Parking places are readily available at different locations in and around these areas. * Half Way Tree is a central point for all shoppers. 3 SELECTION OF Appropriate labour For the proper functioning of this business the following positions will need to be filled: Skilled, semi-skilled and unskilled workers, totaling about thirty persons. These persons are needed for the smooth functioning of the business and will be stationed in their different departments. Skilled:- Managers, Secretary, Accountant and Technicians. Semi-skilled:- Sales clerk, billing clerks, cashiers and telephone operators
Unskilled:- cleaners, packers, deliveryman and warehouse attendants 1. Floor Manager:- This person will be responsible for supervising all floor staff, maintaining order and discipline within the store and aiding in and providing appropriate solutions to problems customers may encounter or report. 2. Sales Assistants:- These persons will aid customers in the selection of the appropriate items to suit their needs, ensure that the customer is fully aware of the use of the items they chose and aid in the finalizing of the sale transaction. . Computer Technicians:- In charge of repairs and maintenance of customers computers or games brought to the store, also the assembling of computers after the parts are purchase if the customer wishes to use this medium. 4 SOURCES OF FIXED AND WORKING CAPITAL Fixed capital refers to the capital that is of a lasting nature and does not change while working. The sources of fixed capital for this business will be its furniture and fixtures, Desktop machines and cash register.
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The money to start this business will come from personal savings in the bank as well as loans borrowed from local bank. Working capital refers to the capital that changes its form during work, my sources will be goods purchase for resale, namely computers, games and its accessories. These will be imported from overseas companies, Hewilett Pachard, Dell, Microsoft and Acer. 5 ROLE OF THE ENTREPRENEUR The role of an entrepreneur is to move resources from an area of lower productivity and lower yields to an area of higher productivity and higher yields.
Also an entrepreneur is a person who is willing to start a business regardless of the risk and uncertainties in order to satisfy the demands of his/her prospective customers. The functions of an entrepreneur are: * Organizing to conceive an idea to launch the project and to program the structure of business. * The entrepreneur is responsible for marketing and advertising to maximize his/her business by selling them in the market. * He decides the scale of business in accordance with the provision of capital.
Then he takes the decision of what, where and how to market the goods. 6 TYPES OF PRODUCTION This type of production is Secondary (assembling) in which the business will be assembling the computer parts together to make a complete system. Other parts will be sold individually as the needs occur for the repairing of existing systems. 7 LEVELS of PRODUCTION The business will market the goods purchased from companies worldwide and will act as a distribution medium for some Foreign based organization.
Advertising of these products will be done locally by the firm so that the level of marketing will enhance the profit line of the business and increase the business so that it will grow and expand to incorporate other product lines more. 8 Quality Control measures The business will ensure high quality service and repairs whereby the highly trained technician provides the best quality performance to the customer expectation. The Sales personnel will be skillfully and highly trained in customer service and sale preps, so that they will be able to deal with a variety of incidences that may crop up in business of this kind.
Products will be sourced from the most reputable firm available. Wages or salaries will be conducive to output of team work. 9 USE OF TECHNOLOGY The four types of technology to be used in the business are Computers, Billing system, Printer and Barcode Scanners. The computer will be used to check the amount of stocks and bill at Point of Sale. It will also generate an Invoice which will be printed from the Point of Sale for each purchase to be completed. This technology stores all input information and when prompted will give a report of all transactions done through the day.
The use of the above technical appliances ensure the smooth and efficient running of the company, it allows for easy trafficking of customers, and a better accountability at the end of each day. 10 LINKAGES The linkage to be derived from the company is a backward linkage through which there is a link through the business and the computer manufacturing industries. The benefit of this type of linkage is to enable the company acquire the computer parts necessary to put together systems for sale locally. 11 POTENTIAL FOR GROWTH
The business has the potential to grow internally by expansion and purchasing of more computers, games and accessories. It will also have the potential to grow externally by opening other businesses island-wide, and by becoming a greater income earner which will encourage a wider job potential and a better profitability. 12 GOVERNMENT REGULATION Government regulations have its advantages and disadvantages. This helps to control and regulates the ways that some businesses perform as well as treats its workers.
They give assistance in areas of tax concessions, support exporting and importing, and promote the standard of goods purchased or sold. They also protect the consumers’ rights by educating and advising, enforcing appropriate legislation, controlling of prices and promoting fair trade practices. They ensure that statutory deductions are adhere to as best as possible. For example the tax collected by government is used to help offset the debts of our country as well as doing repairs to infrastructure of our roads and hospitals and schools. 13 Ethical ISSUES
The ethical issue involved in this business concerns making sure that items being sold are not damaged or will caused harm to persons handling the commodity, as well as ensuring that there is no physical or emotional damage to persons on job sites. Special schemes need to be in place to assist in the occurrence of any such incident. 14 COMMUNICATIONS OF INFORMATION IN A LOGICAL WAY USING CORRECT GRAMMAR Akeam Long Computer and Repairs limited will be opening sometime in the future and will be accommodating its customers and employees in the best accommodation available.
It will be a business that sets a standard for many others to emulate. This store will certainly provide the best product line you’ve ever seen, and will try to make it “the talk of the town” it will set aside suggestion boxes so that the ideas and views of the consumers will be addressed and adhered to. Regular discussions with the staff will take place so that important changes will take place and the customers will see that their views are taken into consideration as we progress in business. CONTENTS Description of Business1 Justification of Location2 Selection of Appropriate Labour3
Sources of Fixed and Working Capital4 Role of the Entrepreneur5 Type of Production6 Levels of Production7 Quality Control Measures8 Use of Technology 9 Linkages10 Potential for Growth11 Government Regulations12 Ethical Issues13 Communication of Information in a logical14 Way using correct grammar Bibliography15 15 Long, Akeam. Pauline Long, Traci-lee Long, Principles of Business. 2011-2012. My name is Akeam Long. I was born in the parish of St. Catherine in the island of Jamaica, in the community of Ensom City, Spanish Town, I am presently residing in the district of Bull Bay St.
Andrew with my mother and my sister, I have two siblings my sister who resides with me and a sister who is married and resides with her husband in Ireland. School previously attended:- SchoolsYear Westchester Infant and Basic School 1997 – 2002 Southborough Primary School 2002- 2007 Jamaica College 2007- present This is my Principles of Business SBA project to be presented and reviewed as a part of the requirement for 2012 CSEC examinations.