Name of Candidate: Jomodean Alexander
Name of School:
West St. George Secondary School
School Center #:150028 Name of Topic:
Principles of Business
Date Submitted:
General Blams Mechanics & Body works Shop will be operated by Jomodean Alexander who is an entrepreneur. General Blams Mechanics & Body works shop is going to be operated as a sole trader business, in which it will be assisting in dierent areas or .example, it will be pro!iding !ehicle ser!ice or any type o !ehicle which will include the" repairing o !ehicles. #t will be commencing rom Monday to Saturday, $pening %ours Monday to 'riday ())am to *))pm and on Saturday 'rom +)) am to ))pm. The Objectives of my Business are as followed •
-o maximie proit in/order to produce a reliable stream o income to support me, my amily and to clear debts.
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Supplying desired ser!ices at reasonable price.
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-o promote economic growth or a sustainable economy.
Justification of Location General Balms Mechanics & Body works shop will be located in 0ingstown opposite the old tennis court in which it1s where my grandparents own. #t will be located at this speciied area because •
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-here is no/one to compete with in that selected area. -he business will be easily located by customers. #t will be more
Selection of appropriate Labor General Blams Mechanics & Body works shop re2uires a skilled & semi/skilled labor orce" persons who ha!e a certiicate in Mechanics & Body works it also re2uires persons with 3S43 sub5ect6 7A1 le!el Sub5ects which include Mathematics 68, 4nglish 68 and any business sub5ect. -he business re2uires * skilled workers and 8 semi/skilled worker to maintain the business daily.
The duties of the workers are as followed
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-he semi/skilled worker will assist as being a handy man to recei!e orders and inorming customers.
-wo o the skilled workers will assist in the necessary mechanical part o the 5ob in which he will he ix the customers !ehicle according to how the customer want it to be ixed.
-he other two 9: skilled workers will assist in the necessary body works 5ob that ha!e to be done on the customers !ehicle.
Sources of Fixed and Worin! Capital
-he sources o my ixed capital would ha!e originate rom my lie sa!ings and my amily inheritance, examples o these ixed capital are land, tool/shop, generator, compressor etc.
General Blams Mechanic and Bodywork1s shop working capital will emerge rom the raw materials, or instance money or any other item that are used up in the e!eryday going o my business or the goods that are regularly been used in the work in its oten actions, example money, !ehicle, !ehicle parts etc.
"ole of the ntrepreneur
General Blams Mechanics and Bodyworks shop is owned by Jomodean Alexander. An entrepreneur is a person who organies and manages a business usually with the considerable initiati!es and risks. -he role o the entrepreneur would be, to make sure that the business duties are being perormed with 2uality characteristics such as being responsible, being a risk taker, being a business manager and to elucidate problems that may ha!e arisen etc. Three Functions of an entrepreneur are:
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Risk Bearing, the entrepreneur speculates all possible risks o the business which emanate due to the possibility o changes in the tastes o costumers, modern techni2ues o production and new in!entions, such risks are not insurable and incalculable.
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Managerial Function, entrepreneurs also enorce a !ariety o managerial unctions like determination o business ob5ecti!es, ormulation o production plans, product analysis and market research, recruitment o men undertaking o business operations.
nnovative Function, this is the basic unction o an entrepreneur to inno!ate new products, ser!ices, ideas and inormation1s or the business.
T$pe of %roduction
General Blams Mechanic and Bodywork;s shop is in!ol!ed in the Tertiary !roduction" -ertiary industry reers to the segment o the economy that oers ser!ices to its consumers. -his may in!ol!e a wide !ariety o businesses including transport, inancial institutions, schools and restaurants. $ther types o
industries are primary 9raw materials: and secondary 9production o goods:.
Le&els of %roduction
-his is the production o goods and ser!ices at an excess amount where it is exported or traded. General Blams Mechanics and Bodyworks shop will be helping local & regional people with their !ehicles.
'se of Technolo!$
-here are two types o technology in!ol!ed in my business The compressors # $lectrical tools
The %ompressors are used by skilled workers, or models sied to handle e!ery 5ob, rom inlating pool toys to powering tools such as nail guns, sanders, drills, impact wrenches, staplers and spray guns. -he big ad!antage o air power is that each tool doesn;t need its own bulky motor. #nstead, a single motor on the compressor con!erts the electrical energy into kinetic energy. -his makes or light, compact, easy/to/handle tools that run 2uietly and ha!e ewer parts that wear out.
The $lectrical tools are used by both skilled and semi/skilled workers to perorm their duties in the e!eryday operations.
Lina!es
%otential for (ro)th General Balms Mechanics and Bodyworks shop can grow both internally and externally. Two ways in which it can grow internationally are"
?pgrading with new and impro!ed compressor and tools. @e can ac2uire more skilled and semi/skilled workers to operate the machinery.
-o expand externally we can expand new branches around the island in other areas or instance in rural and urban areas.
(o&ernment "e!ulations General Blams Mechanics and Bodyworks shop is a huge business and its
thical *ssues
Communication of information in a lo!ical )a$ usin! correct !rammar
