Principles of Business School Based Assessment (SBA)

Business Name: The Velvet Zebra

Name of Candidate: Destinee-Ann Robinson

Name of Subject: Principles of Business

Name of School: St. François Girls’ College

Territory: Trinidad

School Centre Number: 160062

Year of Exam: May/June 2016

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Table of Contents

Description of Business……………………………………………………..3

Justification of Location………………………………………………….....4

Selection of Appropriate Labour………………….........................................5

Sources of Fixed and Working Capital………………………………….......6

Role of Entrepreneur………………………………………………………...7

Type of Production…………………………………………………………..8

Levels of Production………………………………………………………...9

Quality Control Measures………………………………………………….10

Use of Technology…………………………………………………………11

Linkages…………………………………………………………………....12

Potential for Growth……………………………………………………......13

Government Regulations…………………………………………………...14

Ethical Issues…………………………………………………………….....15

Bibliography………………………………………………………………..16

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Description of Business

My name is Destinee-Ann Robinson. I am a fashion designer, stylist and coordinator. The

name of my business is The Velvet Zebra. The type of business I own and operate is a

sole-trader type of business. We specialize in personal shopping and also own a

showroom office and store. My objective is to style women of all shapes and sizes. I am

providing a service.

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Justification of Location

-The Velvet Zebra Showroom and Studio is located at: No.186 Chambon Street,

Paris, France.

-Proximity to suppliers - it is easy to get to and from suppliers by any mode of land

transportation.

-Safety - little or no crimes (e.g. robberies, arson etc.) My clients and employees can

feel very safe in the building, walking to their vehicles and or taking public

transportation.

-Transportation and Accessibility – roads and transport easily accessible for both

consumers and employees to go to and from my establishment.

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Selection of Appropriate Labour

-The type of labour used is skilled. The number of persons employed in my business is

two; and their duties are namely: the manager and the cleaner.

-The type of labour for the manager is skilled because you need to have a certain level of

knowledge/education to evaluate the growth, finances and ability to create larger profits

for the business.

-The type of labour for the cleaner is unskilled because it is basic knowledge to know

how to clean and tend to a place.

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Sources of Fixed and Working Capital

- My fixed capital came from a term loan obtained from a local bank and it was used to

purchase fixed assets such as the shelving systems, tables and computer.

- My working capital came from reserved funds/savings and is used in the day to day

running of the business.

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Role of Entrepreneur

-This person is the risk-taker in a business who is normally the owner/manager who runs

the business.

-Three functions are:

1. Organizes the factors of production in a productive unit.

2. Makes decisions on what, whom and where to produce.

3. Raises finance before production begins.

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Type of Production

- The type of production used in my business is: Tertiary.

- We offer a service of personal styling and help in the decision making process of our

clients’ for purchase of clothing items for specific occasions.

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Levels of Production

- The level of production in my business is Domestic.

- This is because the only clients I currently assist are those who are based within

my country and I provide goods that are locally made (clothing, footwear and

jewelry) and produced by up and coming designers to provide my service.

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Quality Control Measures

-Inspection of clothing upon arrival to the store to ensure it is up to the store’s standard.

-Employing a supervisor to make sure that the sales clerks adhere to the basic rules of

customer service to encourage comfort and trust between client and clerk.

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Use of Technology

-The types of technology used are an HP Intel X5 tablet, a Dell desktop and Electronic

Article Surveillance System.

-I use the tablet for research on factories and wholesalers available, where to find certain

garments and the different districts they can be found.

-The other type of technology I use in my business is Security Technology (Electronic

Article Surveillance System) which is a component of a retail business which reduces the

incidents of shoplifting and break-ins. The business attached magnetic tags to all clothing

items on the shelves and pairing the tags with metallic censors on all doors which

discourages theft.

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Linkages

- My business uses a backward linkage

- The benefit of this is that I am able to form a close business relationship between

myself and the suppliers of my products. This allows for wholesale discounts and

will help the business survive, grow and develop.

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Potential for Growth

-Internal:

-I plan to add new products to the business scheme. E.g. shoes, accessories, make-up and

hair.

-As well as, offer more services. E.g. hire persons to style an entire look (make-up artists,

hair stylists) to accommodate for the customer ‘on the run’ in need of a great look in a

limited amount of time.

-Also, after the expansion of the business, we can departmentalize our store selling

different kinds of items and providing different services. E.g. shoes, make-up and hair.

-External:

-I plan to expand even further by opening more locations and having more branches in

different target areas, opening specialized stores for hair and beauty, shoes, even a bakery

that symbolizes our name (The Velvet Zebra).

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Government Regulations

-Income Taxes will be paid by the business and sales clerks to the Board of Inland

Revenue and contributions will be made to the National Insurance Scheme and Health

Surcharge.

-Also, we will ensure that the Health and Safety Standards will be adhered to by having a

Safety Officer employed within the business to ensure that the kitchen and bathroom

facilities are up to code. This will help with encouraging our employees to attend work as

well as put in their best efforts into the running of the business, thus a safe and healthy

working environment would be provided for them.

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Ethical Issues

-The garments being sold and materials being used will be authentic and original and

there would never be a substitution of an original item for one of inferior standards

because of limitations in locating the item or difference in prices. This will help to

promote The Velvet Zebra as a business of quality always delivering the best to their

clientele and will consequently result in further growth and survival of the business.

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Bibliography

-Wilson, Mark, Caribbean Business for CSEC Principles of Business, Oxford, Oxford

University Press, 2010.

- Kind, Venus and Wright, Paula. Caribbean Examinations Council Principles of

Business.

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