School: Mount Alvernia High School
Subject: Principles of Business
Teacher: Miss Robinson
Table of Content
Aims and Objectives
Description of the Business
Justification of Location
Selection of Appropriate Labour
Source of Fixed and Working Capital
Roles of the Sole Trader
Types of Production
Level of Production
Quality Control Measure
Uses of Technology
Potential for Growth
The successful termination of this School Based Assignment (SBA) would not have been feasible without the cooperation and assistance of a number of persons.
First, I would like to thank Miss Blair, my Principles of Business instructor help for guiding me throughout this project.
Secondly, I want to give thanks to my parents and other family members for supporting throughout the time of study and decreasing yard chores.
And last but not least thanks to God for giving me the vigour and knowledge for completing this task.
Aims and Objectives
The aims and the objectives of this project are as follows:
• To receive a good grade in my final examination.
• To broaden my knowledge and to get a better understanding on how to establish a business.
• To get a better understanding of business management that is the day to day operations where the world of business is concerned.
Description of Business
Mystic Beauty Salon and Spa is a sole proprietor business which is owned and operated by Miss Kenesha Gayle which sells hair products such as braids, hair colourings, hair treatments, and more; it will also be selling skin care products such as facial make-up, razor bump treatment, bath products, facial scrub, skin laser treatment and nail products such as nail polish, nail treatments, nail glue and nail extension. Mystic Beauty Salon and Spa will also be offering services such as:
❖ Rope Twist
❖ Lock Start Up
❖ Lock Maintenance
❖ Lock Extension
❖ Trim & Shave
❖ Natural Locking
❖ Skin Piercing
❖ Massages (such as hot & cold stone massage and lymphatic massage) ❖ Manicure and Pedicure
❖ Nails Acrylic
❖ Eye Brown Waxing
This business will be situated in Christiana, Manchester beside Tia’s Flora Service Ltd. It will be opened from Mondays to Fridays at 8:00am to 8:30pm and on Saturdays from 7:00am to 10:00pm. Justification of Location
The location for Mystic Beauty salon and Spa is promptly chosen. It will be located in Christiana, Manchester beside Tia’s Flora Service Ltd. The reasons for this location is that it is cool, it is not compiled with the busy atmosphere, the source of energy which is needed is available, it is a relaxing location, there is no competition and it is a peaceful environment. It will be a great location because the customers will be well satisfied; relaxed because all the requirements are there to comfort and pamper there mind, body and soul. Selection of Appropriate Labour
At the organization one (1) of each individual will be employed, Board of Directors, General Manager, Asst. Manager, Legal Advisor, Secretary, Head of Departments, Supervisors and e (20-22) workers.
❖ Members of the Board of Directors must possess a Doctor of Philosophy (PhD) in Finance, Accounting, Economics, Leadership Management, General Management or Entrepreneurship with an experience of at least 5 years.
❖ General manager must possess at least a Master Degree in Business Administration...