Candy Craves is a partnership type business which has been established and managed by Jared Pollard. This business is geared at providing a wide variety of delicious sweet food products which make even the healthiest bunch of people crave it.
The business comprises of five members; Jared Pollard, Sam Mayers, Blue Ivy, John Doe, Shelly Moe. The business will not only function as a local enterprise but as an international and regional supplier to other Caribbean and extension, the United Kingdom as well as the United States of America and beyond.The main objectives of the business are: Providing a wide variety of delightful food product which would please the palates of its consumers. Providing delicious products that are of excellent quality and making it affordable to the general public. Providing employment for the working class of St. Lucia whether they are skilled or unskilled.
Justification of Location Candy Craves will be located in the city of Castries (St. Lucia). This location was primarily chosen because of the accessibility of various ports in the area.Being that Candy Craves is a regional and international business, a lot of foreign exchange will occur and being that the ports are easily accessible this will prove to be very efficient to the business. Due to the close proximity of the ports, transporting good to and from them would be in expensive and less time consuming.
This intern benefits the business by increasing its net profit. Being that Castries is the capital of St. Lucia there is a lot of economic activity occurring and as a result the business will benefit by a large number of persons who are willing to patronize it and try its wide variety of energizing food products.Also being that this business is solely based of selling strictly energizing food products, there will not necessarily be a high level of competition which can affect productivity and efficiency. Apart from Castries being the capital of St.
Lucia, there is also a high level of unemployment. By establishing this business in Castries will assist in the reduction of unemployment. It will also give persons a chance to learn new skills and teach them various qualities of being in the world of work.Selection of Appropriate Labor Due to the nature of the business, there is a demand for professional, skilled and unskilled labor. The business intends on hiring a total employee head count of 15 persons, in order to ensure that the production of the business would be as efficient as possible.
Professional Labor: Production Manager: The Production Manager has many responsibilities, one of which is establishing and maintaining relationships with the suppliers and sourcing raw material of superior quality.He/she also has the responsibility of ensuring that goods are being produced efficiently and that they are of the right quality and quantity at the right cost. The production manager must ensure that goods are being produced in a timely manner and that they are satisfactory to the customer in quality and price. Sales Manager: The role of a sales manager is to ensure the company achieves its goals. The sales manager is also entitled to lead the sales force and manage time and people. The sales manager is expected to motivate sales people and have the skills of developing sales culture.
Skilled Labor Machine Operator: This person will be employed to manage the production machinery. Her/she will also be responsible for checking that the machine is functioning efficiently and to report any deficiencies in production due to malfunctioning of the machines. Secretary: This person work consists of supporting management including executives using a variety of project management, communication and organizational skills. The secretary has to maintain employee records and other business records.
The secretary also has to manage customer information.Unskilled Labor Janitor: This person takes is responsible for the cleaning and maintenance of the building. Warehouse Attendant: Under the direction of the store manager, this individual will assist in the operations of the warehouse. Sources of Fixed and Working Capital The fixed capital for this business is land, machinery and large vans to transport the goods from one place to another.
This fixed capital was invested in by the entrepreneur Jared Pollard, form a special savings account which sums up to 2. 5 million dollars and a loan form a benefactor (Sam Mayers) which totaled to $300, 000.The working capital is acquired from funds generated from the renting of a business warehouse which totaled to the amount of $25, 000 monthly. This revenue will be used in the daily running of the business. Role of the Entrepreneur The role of the entrepreneur is vital to the initiation and development of the business.
He or she must be creative yet logical and responsible in making decisions in the interest of the development of the firm that he has taken a risk on.Conceptualizing: the business/ innovation are the first responsibility of the entrepreneur. The idea for the business venture may be a playoff the business idea of another entrepreneur; it may be a completely new concept or invention Or it may be the development of a craft or hobby by establisher, Jared Pollard. Assessing Finance: Another role of the entrepreneur is that of accessing the funds of the business in order to propel the new ideas into a direction of success.The funds may be in the form of the entrepreneur’s personal capital but usually, it is allied with funds from an institution or an investor. Organizing: it is also vital that the entrepreneur is actively involved financially on the organizing of his new enterprise.
He is responsible for organizing resources, acquiring premises in the right location, sourcing IT equipment whether by lease or by purchase and having all these appropriately prepared in a timely manner Operating Business: After all these roles were carried out and all the resources are in place then operations can commence.The entrepreneur’s work must not end here, he has to continuously monitor the goods, create work schedules for staff, maintain machinery and sales must be checked against original targets. Type of Production Secondary production is the main type of production because a wide variety of raw material and foods are used in order to form the various food products. This type of business produces the many energy food products with the help of machinery and other resources such as technology. Level of Production The Surplus level of production is featured in Candy Craves.This level of production is adequate to supply local demand and for export.
Large industries can produce large quantities of output to satisfy local consumption and earn foreign exchange from export, for example, the sugar and banana industries. Quality Control Methods Quality control deals with the testing of products to reveal defects, and reporting to management, who will make the decision to allow or deny the release of products into the market. It entails attempts to improve and stabilize production. It is also necessary to avoid, or at least minimize, issues that lead to defects in production.
The process of quality control ensures that the products meet the standards set by the firm of that they meet the minimum legal requirements. A Machine Operator will be a form of quality control because he/she would be responsible for the maintenance of the machinery, equipment and ensuring that they are efficient to produce the various energy food products in an acceptable manner. Training staff in the appropriate fields such as food preservation methods will enhance the quality of production of the energy food products.With the proper skills acquired, workers will be better able to produce foods that are of exquisite quality and taste. Uses of Technology In order for the business to run efficiently, it will need to utilize the following items: Computers and Phones.
Computers will be used for keeping documents of employee’s information as well as for keeping accounting records and also allowing them to be easily accessed. This will aid the business because it will be easier and more achievable to arrange business documents orderly, than if the business had to use filing cabinets.It is also readily accessible to the entrepreneur and his sub-ordinates, which is important in time management. Phones will be used to enhance communication amongst members of staff and to customers allowing them to contact persons with business related matters.
Linkages A backward linkage is formed from this business because it depends on the agricultural sector for the different foods and raw materials for inputs to its productive activities. This can be used as an ISSI (Import Substitution Industry) and in turn limit the financial strain on having to import raw foods and materials overseas. Potential for GrowthInternal Potential for Growth; includes all the factors of the business that has the possibility for expansion and development in productivity, profitability etc. , within the business structure. The focus on this type of growth is creating a greater appetite for energy food products produced by improving its quality. It deals with the growth, in appeal of the food products and services in order to increase market share.
The internal growth of Candy Craves also takes into account the purchasing of capital goods because it is a major factor to be considered if the business is to expand and grow.When the product is better it will appeal to a wider market range and profitability will increase, fostering internal growth. External Potential for Growth; is all the factors which show that there is a possibility for the business to get more developed and grow within the industry. The capital which was put into Candy Craves provided by the administrator and by retained profits also enhances the potential for growth and development. External potential for growth may take the form of a takeover, through partnerships with other firms to create cooperation, or by a merger.Rise of the Sloths plans to merge with Super J, thereby creating the opportunity for maximum expansion of the business.
This will decrease the amount of competition and in turn increase the amount of capital which comes to the business. Government Regulations The business needs a license to operate from which would show that it has been permitted by authorities to engage in production after it has been proven that the product is up to standard. A license will constitute to certain limitations and condition to which the business organization must adhere. There is also a need for an import license for certain items.The approval of the establishment by the Bureau of Standards will showcase the efficiency of the business in producing energy food products and therefore, making sure that the products is of excellent quality. Ethical Issues Due to the fact that the machinery and tools pertaining to the business are very loud, there would be a creation of loud noise.
It is important that we take into consideration the social issues of pollution, particularly noise pollution. The business has decided to place tools which would ultimately contribute to the noise pollution in a secure room which will be made sound resistant.This will therefore reduce the amount of noise pollution produces by the tools. Also the waste products of excess materials would pose a problem if left unattended to as the business has devoted an area for dumping and burning these waste materials. The area in which we dump out waste is places strategically in a remote area therefore not disturbing or affecting the towns and city.
The safety and health of our workers is another issue which has been dealt with. Workers are require to wear masks hair nets, masks and overalls so that the various chemicals used would not be inhaled and will not affect the employees’ health in any way.
