Principles of business
SCHOOL BASED ASSESSMENT
Name : Chaze DaCosta
School: wolmers high school for boys
TABLE OF CONTENTS
DESCRIPTION OF THE BUISNESS
Pot pon fyah is a business which will be owned and operated daily by chaze dacosta.pot pon fyah will be a in the restaurant business and is focused on spreading the Jamaican food culture to tourist and may even locals .The goals of pot pon fyah is to serve original and delightful Jamaican dishes .the dishes will be prepared by our exquisite chefs, training for years to master the art of food.
JUSTIFICATION OF LOCATION
Pot pon fyah will be located on crescent moon drive Kingston.the main reason for the location is : The availability of labour
The cost and availability of land is spectacular in the location .
SELECTION OF APPROPRIATE LABOUR
Pot pon fyah will have 10 workers .3 skilled workers,5 semi skilled workers and 2 unskilled workers . 2 of my 3 skilled workers are trained chefs and the other is a manager who has 15 years in the field .he has been known for his ability to coordinate and motivate his team. The 5 semi skilled workers are all waiters and waitresses’ .their responsibility is to ensure the quickest and most pleasurable service to my customers. The 2 unskilled workers are going to be janitors who will ensure that pot pon fyah meets the standards of the health trust .
SOURCES OF FIXED AND WORKING CAPITAL
Fixed capitals in the business are items which are likely to be permanent in the business. such as buildings and machinery, which are used for creating goods and creation of further wealth .$900,000 will be borrowed from Scotia bank for the business. The division of the use of this capital:
Building $250,000 Kitchen equipment $200,000
Furniture $150,000 Computers $150,000 Phones $150,000 Total cost $900,000
Working capital is short term assets including cash , stocks of material ,bank balances and others .All of which are required to run the day to day affairs of the business. Three million, six hundred thousand will be saved in total .the use of capital will be divided in: Description cost Raw material $1,500,000 Wages and salaries $ 1,600,000 Maintenance $100,000 Water $ 150,000 Electricity $ 200,000 Telephone $50,000 Total cost $3,600,000
ROLE OF THE ENTREPRENEAUR
The entrepreneur are persons who persons who take risks involved in establishing a business. Some roles that will be seen are :
Aquire finances to operate the business daily
To bring about new ideas t the market
To invent and advertise new goods and services
TYPE OF PRODUCTION
Pot pon fyah will be a tertiary level production business.we will be involved in this type of production as the business will mainly provide services such as catering .
LEVELS OF PRODUCTION
POT PON FYAH will be producing locally in the country ,this is known as domestic production and will not be involved in imports...
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