SCHOOL-BASED ASSESSMENT

Year of Examination: 2024

Business Cognate Subject: Principles of Business

Name of Teacher: Ms. Mohammed

Name of Candidate: Registration Nos:-

Reyann Joseph

Name of School: Belmont secondary school p.o.s

Title of Project: “An Assessment Showing

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 TABLE OF CONTENTS

Page No.

Research Topic / Problem

Objectives

Introduction / Background

Methodology

Presentation and Analysis of Data

Conclusion

Recommendation

Bibliography

Appendices

Mark Scheme

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 RESEARCH TOPIC

Assessing and enhancing the sustainability practices in a furniture store

with a hire purchase system is crucial for long-term success. This study
aims to evaluate the environmental and social impacts of the hire purchase
model in the context of a selected furniture store.

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Objectives/Research Questions:

 To examine the current sustainability practices in a furniture

store utilizing a hire purchase system.
 To identify areas for improvement in sustainability within the
hire purchase model.
 To assess the overall impact of sustainable practices on the
furniture store and society.

 Syllabus Objectives:
 Understand the concept of sustainability in business.
 Analyze the impact of business practices on the environment.

Describe the history of the topic/issue or problem under investigation

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The furniture retail industry, born out of the industrial revolution, saw
a transformative shift with the introduction of hire purchase systems,
making furniture more accessible. However, the sector is now
addressing sustainability concerns tied to this model. Furniture stores
are responding by adopting eco-friendly practices, emphasizing
responsible sourcing and waste reduction. Achieving a balance between
financial practices and environmental responsibility is essential for the
industry's enduring success, requiring a holistic integration of
sustainability into product design, supply chains, and overall
operations

Describe the development of the problem at the selected company and

the topic/issue or problem in general

Hire purchase, developed in the early 20th century, aimed to make

goods like furniture more accessible by allowing customers to pay in
installments. Popularized post-World War II, this financing model
adapted to changing consumer preferences and economic conditions,
becoming a common option in various industries, including furniture
retail. It remains a flexible way for individuals to manage their budgets
and acquire products through installment payments today

Why is this topic/issue or problem important to you?

Hire purchase is valuable for those who need immediate access to
goods without a large upfront payment. It provides financial flexibility
by allowing affordable, manageable installments, aiding individuals
with budget constraints. However, it's crucial to consider associated
costs and ensure the repayment plan aligns with one's financial
situation

What is the impact on hire purchase on the society

Hire purchase enhances access to goods for those with limited funds
but may lead to consumer debt and environmental concerns.
Responsible usage is crucial for balancing its societal benefits and
drawbacks