CARIBBEAN EXAMINATION COUNCIL

SCHOOL BASED ASSESSMENT (SBA)

PRINCIPLES OF BUSINESS

Name(s): Gabriela Kistow-Davis, Sammyah Andrews, Monique Johnson, Ezekiel Williams,

Matthew Sookhai, Mattiah Lewis

Candidate Number: #

Centre Number: #

Name of School: El Dorado West Secondary School

Name of Teacher: Mrs. Motiram

Year of Exam: 2024

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ACKNOWLEDGEMENTS

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 TABLE OF CONTENTS

Contents
ACKNOWLEDGEMENTS.....................................................................................................................2
DESCRIPTION OF BUSINESS.............................................................................................................4
MISSION STATEMENT....................................................................................................................4
Objectives of S.O.F.I.......................................................................................................................4
JUSTIFICATION OF LOCATION.........................................................................................................5
SELECTION OF APPROPRIATE LABOUR........................................................................................6
Sources of Fixed Capital and Working Capital.......................................................................................7
Fixed Capital........................................................................................................................................7
Working Capital...................................................................................................................................7
POTENTIAL FOR GROWTH................................................................................................................8
Internal Growth....................................................................................................................................8
External Growth...................................................................................................................................8
ROLE OF THE ENTREPRENEUER......................................................................................................9
Planning...............................................................................................................................................9
Organization.........................................................................................................................................9
Evaluating Performance.......................................................................................................................9
TYPE OF PRODUCTION.....................................................................................................................10
LEVELS OF PRODUCTION................................................................................................................11
QUALITY CONTROL MEASURES...................................................................................................12
USE OF TECHNOLOGY.....................................................................................................................13
LINKAGES...........................................................................................................................................14
POTENTIAL FOR GROWTH..............................................................................................................15
Internal Growth..................................................................................................................................15
External Growth.................................................................................................................................15
GOVERNMENT REGULATION.........................................................................................................16
ETHICAL ISSUES................................................................................................................................17
BIBLIOGRAPHY..................................................................................................................................18

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 DESCRIPTION OF BUSINESS

Small Official Fragrance Intelligence or otherwise S.O.F.I is a small,

robotic vacuum and air freshener in one. The perfume comes in many scented options
that come in fragrance bottles that can be interchangeable. It is manufactured,
packaged, and delivered to all customers.

MISSION STATEMENT
"Delivering exceptional, eco-friendly cleaning services with a commitment to
customer satisfaction, sustainability, and community well-being."

Objectives of S.O.F.I
 To produce high quality SOFIs for customers.
 To provide exceptional customer service.
 To obtain profit as much as possible.
 Protect the environment by conserving natural resources and preventing
pollution.

Background/Overview
In society, people in recent years have struggled to maintain their households in
a clean and orderly manner. This is on account of several reasons such as:
persons having little to no time on their hands to delve into the daunting task of
cleaning their homes; persons who may have disabilities who are unable to do it
for themselves; persons who do not enjoy cleaning at all which decreases their
motivation to clean their house at all; People who cannot afford personal
cleaners to do the job for them; and there are persons who want to clean but
have no idea how to.

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Not cleaning your house is one thing but the dangers that come with it is
another. An increase in bacterial and viral infections can be a result in
neglecting the task of cleaning your home. This along with respiratory and
allergy problems due to the build-up of dust; an increased chance of an
infestation of bugs and pests (Cockroaches, ants, rodents, moths, etc.) and along
with them will come diseases; a poor mental state with each day a person’s
house goes uncleaned.

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 METHODOLOGY

This project follows a mixed methodology approach comprising qualitative and

quantitative methods I order to determine the extent to which S.O.F.I can be
competitive and profitable on the local market. Given the nature of the project,
qualitative assessment is conducted using Porter’s Five Forces framework
analysis to be able to discern the level of competition existing in the market for
SOFI. Therefore, to investigate the problem, the group chose to create an
Online Questionnaire in order to gather data from the target group towards
answering the problem statement.

According to Investopedia’s (2023) definition, Porter's Five Forces (that was

named after Harvard Business School professor Michael E. Porter) is a model
that identifies and analyses five competitive forces that shape every industry
and helps determine an industry's weaknesses and strengths. Porter's model can
be applied to any segment of the economy to understand the level of
competition within the industry and enhance a company's long-term
profitability.

Write a paragraoh and place a diagram on five forces analysis

An online questionnaire, as stated by Quantilope (2022), is a form that contains

a series of questions that are designed to answer a research objective, that is
disseminated to and accessed by the respondents via the internet. The ultimate
aim of the online questionnaire is to gather and analyse data within a fast and
concentrated period of time. Additionally, with this type of survey, the
researcher can distribute the instrument to individuals in distant locations; keep
their anonymity to themselves; and receive automated data collection which
lessened time and effort in the regard (Kevin B. Wright, 2005).

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

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 JUSTIFICATION OF LOCATION

We are located on the Black Rock Main Road, San Fernando, Trinidad and
Tobago.

Reasons For This Picked Location:

1. Proximity to raw materials or source of production inputs for cost-effective

manufacturing processes.
2. Access to a skilled labour force to support the manufacturing operations.
3. Favourable business environment with infrastructure and transportation
networks to facilitate the movement of goods.

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 SELECTION OF APPROPRIATE LABOUR
The staff listed below were chosen decisively to bring together S.O.F.I
Corporations.
Production and
Operations
Production Workers
Quality Control Inspectors
Maintenance Technicians
Position
Production Workers
Quality Control Inspectors
Chemical Engineers/Scientists
Maintenance Technicians
Supply Chain and Logistics
Personnel
Health and Safety Compliance
Personnel
Research and Marketing and Public
Development and Relations
Formulation
Chemical Engineers/Scientists Packaging and Labelling
Staff
Supply Chain and Logistics Sales and Marketing
Personnel Personnel
Research and Development Team
Type of Labour No. of Function
Employees
Skilled 300 Responsible for operating
machinery, assembling products,
and ensuring the manufacturing
process runs smoothly.
Semi-skilled 40 Ensure that the cleaning products
meet quality standards and
specifications.
Professional 100 Develop and test cleaning formulas,
ensuring effectiveness and safety.
Professional 50 Maintain and repair manufacturing
equipment to minimize downtime
and ensure operational efficiency.
Skilled 150 Manage inventory, procurement of
raw materials, and distribution of
finished products.
Skilled/Professional 40 Ensure compliance with regulations
related to manufacturing processes
and product safety.
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Research and Development
Team
Package and Labelling Staff
Sales and Marketing
Personnel
Administrative and
Management Staff
Professional 50 Work on innovating and improving
cleaning product formulas and
manufacturing processes.
Skilled 300 Responsible for packaging the
manufactured cleaning products
and ensuring compliance with
labelling requirements.
Professional 40 Promote the manufactured cleaning
products, acquire new clients, and
maintain existing customer
relationships.
Professional 35 Oversee operations, manage
finances, and handle administrative
tasks to support the manufacturing
business.
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 Sources of Fixed Capital and Working Capital

Fixed Capital
These are the durable (long-term) assets of a business which are used over a long
period of time and are tied up in permanent use.
Two sources of fixed capital are:

» Borrowing a loan of $700,000TTD from the bank and using the property
owned as collateral.
» The use of $1.5 million TTD from personal savings in order to buy the
machinery and technology needed.

Working Capital
These are stocks of goods; cash, bank, balances, and other items required for the
day-to-day operation of the business that are continuously being used up.
Two sources of sources of working capital the business have are:

» Reinvested profits. Using the profit generated by what we get by S.O.F.I

Corporations.
»

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 POTENTIAL FOR GROWTH

Internal Growth

External Growth

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 ROLE OF THE ENTREPRENEUER

Planning
Organization
Evaluating Performance

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TYPE OF PRODUCTION

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LEVELS OF PRODUCTION

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QUALITY CONTROL MEASURES

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USE OF TECHNOLOGY

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LINKAGES

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 POTENTIAL FOR GROWTH

Internal Growth
External Growth

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GOVERNMENT REGULATION

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ETHICAL ISSUES

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BIBLIOGRAPHY

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