Brian clothing and shoe world is a sole trader business. It involved in both retail and wholesale quantity. The business acquire its product form the U.S.A where a 5% is added on the price of the product.
Type of business
Nature of business
1.Clothing and shoes
2. my business deals with wholesale and retail
1. to make a profit from my business.
2. to reach a common goal.
3. to give customer their wants needs.
Justification of location2
16 strand, New Amsterdam, Berbice, Guyana.
Three reasons to justify location
1. The place is well populated.
2. It is next to a shipping company.
3. It is next to the market and is where half the population go to.
The map of Guyana showing the location of my business
Selection of appropriate labour 3
Brian clothing and shoe world need appropriate laboures to carry out different task in the business they are selector according to their profession in term of:
Type of labour necessary
1. Unskilled worker.
2. Semiskilled worker.
3. Skilled worker.
Number of persons to be employed
Skilled | unskilled| semiskilled| total|
1| 1| 1| 3|
1. Skilled worker-deals with the shipping company and my paper work. 2. Unskilled worker-clearing the business.
3. Semiskilled worked-help the customer.
One reason why this type of labour is necessary To help me in the business and out business.e.g if a shipment of shoes come in the country my skilled working will go get it form the shipping company.
Sources of fixed and working capital4
2. Personal savings
3. Example: the fixed capital is when you donot have working capital.
1. Cash in bank.
2. Cash in hand.
3. Day to day sales.
4. Example: the working capital is where the capital will be in use.
Role of the entrepreneur5
1. Planned for the formation and operation of the business. 2. Organized resources to allow the product to be produced. 3. Accepted the responsibility of managing the business.
Some one who shows vision and creativity taking the financial risk of stating and managing a new business venture.
Three function of the entrepreneur
1. Provide competition for existing business.
2. Provide choice in goods and services for consumers.
3. Often introduce new products or services to the market.
Type of production 6
Tertiary production-is the type of production which deals with ling form the manufactor of to the consumer this level is divided into two catergeary they are 1. Indirect service
2. Direct service
Levels of production7
1. Subsistence production.
2. Domestic production.
3. Surplus production.
The level of production
1. Domestic production.
Describe the level of production
Domestic production-involves producing goods and services not just for the individual family or community but also for the local market.
Quality control measures8
Insurance a promise of financial compensation is the possible even of specific future losses in exchange for a period payment. e.g fire insurance. Assurance a promise of financial compensation following an inevitable event E.g death or reaching a particular age
Use of technology9
Two types of technology
1. Computer-aided design (C.A.D).
2. Computer-aided manufacturing (C.A.M).
How can enhance the efficiency of the business
1. Better communication and recording systems.
2. Quicker and more flexible production.
3. Lower unit costs of production as technology replaces labour intensive methods.
Type of linkage to be derived from the business