Description of business The I-TEC Corporation is runned as a partnership of fifteen people. The numbers are important to guide the business to the right path of success. Ideas from each partner contribute to the growth of the business to new heights.
The objective of the business is to provide low cost computers. It was started to address the problems that the country was facing with the “up to date” technology. If a country doesn’t have access to computers, the citizens will not be able to know what is going on in foreign countries and will be classed as “stone age”.
Location: The business is located in Cul-de-sac which is not too far from the capitals town. It is an ideal spot because of its accessibility to transportation.
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Vehicles can both leave and enter the capital without the extra cost. It is also close to the docks where the business imports different parts for the manufacturing of the computers. It is also a government incentive, meaning the land was cheaper if the business had to purchase its own land. The type of labor needed is -professional -skilled -semi-skilled -unskilled Professional Management (1 for each sector of management)- to assist with the initial stability of the business also to check on production and marketing aspects. Skilled Workers, It technicians, inspectors, etc(5 in each department). to allow the business to be successful and to ensure that the work is being done right. Semi-skilled Drivers and transportation staff (about 12 drivers) – to ensure that products and raw material is transported in or out of the business safely. Unskilled Cleaning staff (10 to be able to cover that entire factory) – to ensure that the business is clean and a healthy environment. Sources of fixed and working capital Fixed capital started with a loan from the bank. This sum of money enabled the business to cover up cost of the foundation and structure of the building, transportation and various machinery.
Working capital was funded by the partner’s personal expenditure after saving money over the years and a small contribution by the bank. As the entrepreneur I am the one with idea and goal to start off the business. Therefore I am the one how take serious accountability and inherits all the risks of the business.
Roles Of Being The Entrepreneur
Type of production
The business has a domestic range of production. Meaning that the business presently sells to the market available in the country it is situated in. after a few years, the business hopes to grow into an exporting production era, when we will sell to other countries around the world.
Level of production
The company has a secondary level of production. It produces products from their raw material state and then sells it to the market.
Mainly the business focuses on the production of the product. In the secondary level of production, the business imports parts that are already manufactured from other companies and puts them together.
Quality control measures Inspectors from the Bureau of Standards check the quality of products and equipment in the business. They certify that each product is of a certain standard for the country. There are also business inspectors to ensure that the business keeps up with the quality expected.
They ensure that the best type of machinery and products are bought from the top manufacturers. The business inspectors also look at products at each stage of production to provide perfect quality. Use of technology In the aspect of technology the business uses it to its advantage. Computers, security cameras, machinery controls are used on a daily basis in the company. Technology is simply needed to make the business run smother and more effective. For example, the machinery is used to make the work load on the business’ human recourses much easier.
The involvement with the World Wide Web also influences the progress of the business. Linkages The business mainly focuses on its forward linkages, which is people that the business sells to. The service sector, banking, education, financial, health, helps the business grow in many ways. A forward linkage benefits the business because it provides a steady market to sell products to the customers.
Over a period of time, the business would be hoping to improve both internal and externally.
The increase of working staff and increase in production. Develop on the products made and provide more variety of the items sold. Therefore the income earned by the business will increase.
The movement of location or expansion of the business. Opening more branches both locally and regionally. Government regulations Employment regulation-The business must have a regulation to permit employment to others. If not when the business employs people it would be illegal. Taxation- Taxation must be followed by all businesses to support the government to improve. This cooperation has no exception.
Import and Export license- The business needs to be certified to export and import to other countries. Ethical issues Production – the business will have to have an environment friendly production plant where the emissions from the manufacturing plant will be reduced drastically. The company follows the theme less steam go green be clean. Disposal – the equipment that is not being used and the waste material is properly disposed by the company’s personal sanitation officers. Worker treatment – employees are treated with a family-like environment where each employee would feel like him or her is in a comfortable job.
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