Topics: Management, Business, Entrepreneurship Pages: 6 (1626 words) Published: April 17, 2013
52 Tasman St
Havelock North

17 April 2013

Mr Peter Wanaberich
12 Smith St

Dear Peter Wanaberich

Business Report
Virtual Institute of Technology (V.I.T) is an internet based virtual education organization offering comprehensive internet based education from world-class institutions and lecturers. This Report as requested will outline the details of the business entity, financial specifications and the business plan pertaining to V.I.T. Thank you for expressing your interest in the opportunity to invest in this business. I will contact you in 5 working days to make an appointment to meet and discuss the report. If you have any inquiries please don’t hesitate to contact me.

Yours sincerely
Conway Maurirere
CEO Virtual Institute of Technology NZ


Business Report|
Prepared by|
Conway Maurirere|
MsNZ82 V.I.T Virtual Institute Technology
April 17, 2013
Prepared for
Peter Wannaberich


* Table of Contents
1Introduction 1
2Findings 2
2.1Description 2
2.2Business entity 2
2.3GST 2
2.4Business Environment 3
2.5Legislation 3
2.6Business Planning 3
2.7Organizational Structure 3
2.8Computer Systems 4
3Conclusions 5
4Appendix 6 ( removed )
5References 9
6Bibliography 10

This report was commissioned by Peter Wanaberich on March 7 2013 who would like to invest in this business and has asked for all relevant information pertaining to Virtual Institute Technology (V.I.T). The purpose of this report is to identify and measure relevant information on the business entity, financial aspects, legislations, the business plan and the organization structure relating to V.I.T. New Zealand children scored well below the average in 2010-2011 Trends mathematics and science study (TIMSS). A score of 60 was good, 20 meant they desperately needed help. Our 9 year old children averaged from a score of 5 to 7. (Andrew Laxon, 2013) Students gave themselves little chance of completing NCEA Level 2 because they left school before they completed year 12. (“It’s not 1 in 5 who are failing,” 2013) Today education is not cheap. The lack of a decent education can also dictate ones demographic status in society. V.I.T offers a means of education that is adaptable, flexible and cost efficient. Technology is ever growing, as technology grows so too will V.I.Ts accessibility.

Virtual Institute of Technology (V.I.T) is an internet based virtual education organization offering comprehensive education from world-class institutions and lecturers to prospective students via internet. This allows for a more direct form of online education being that virtual education is one on one and in real time. V.I.T is compatible with all demographic social and economic groups. Its purpose is conveniality to both student and tutor with easy access, time flexibility, and affordability. Cons: Need for monitoring of students learning, dangers of the internet, access to internet and resources. Pros: Accessible to those with busy lives, cost effective, its visual, in real time, offers time flexibility, gives options traditional education does not, e.g. time management, locality management, connection from anywhere to anywhere, opportunity for 24/7 learning.

Business entity
Most business can be defined by 3 different structures, Company, a separate entity independent and accountable unto itself, distinct from its shareholders, owns the assets and liabilities of the business and are responsible for any debts, (Inland Revenue 2013) Partnerships, commonly formed for greater access to capital...
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