Principles of Business Sba

In: Business and Management

Submitted By clintonpeart
Words 410
Pages 2
Description of the business
Décor is a family owned partnership business. The business is involved in the manufacturing of office furniture and commercial and residential hard surface work tops.
Mission Statement
Décor Products is committed to providing quality and affordable products and services to meet the evolving needs of our valued customers. Décor Products will “go the extra mile” to ensure that our customers are satisfied every time.

Justification of the location
Décor Products is located in Arnos Vale area. It is considered a relatively good location for a number of factors some of which are:
•That area is rapidly becoming more commercialized
•It is not in the mass confusion of town allowing for good parking facilities.
•It is a relatively central location within the country making it easy to distribute goods.

Selection of appropriate labour
At Décor Products the labour force is made up mainly of semi-skilled and skilled labour. Persons employed are operations manager, salesman, accounts clerk, receptionist, secretary, accountant, workshop manager and joiners. Skilled joiners are necessary to produce the quality finished goods as referred to in the mission statement.

Sources of fixed and working capital
Things such as: commercial office building, motor vehicles and office equipment are funded by jointly by Bruce Barrow and First Caribbean International Bank. Working capital comes form the sales of products manufactured.
Role of the entrepreneur
The role of the entrepreneur is to ensure that he business is run efficiently and profitably.
Three functions of the entrepreneur are:
• Organizes the factors of production.
• To introduce innovations
• To co-ordinate the running of his business effectively

Type of production
Seeing that Décor Products deals mainly with custom made items, we could say they are involved largely in job…...

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