• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The aim of this report is to show each stage that our business went through to set up our cookie business, and how to make it successful.

Extracts from this document...

Introduction

A Report to show how to set up and run a successful business using Cookie Monster as an example To: AHA Date: 22/11/2005 From: Jess Pulford Terms of Reference: The aim of this report is to show each stage that our business went through to set up our cookie business, and how to make it successful. Proceedings: Brainstorming: Firstly, our group came up with a few ideas for possible businesses that we could run. In order to produce a final decision, we added up the advantages and disadvantages of each idea. This meant that we could make sure we had chosen a good business to run. � Shortlist ideas: After looking at all our ideas, we came up with the best few that we thought would be the most appropriate and successful. We made a list of these and decided on our final idea. This final idea was cookies and cakes. � Final Idea: For our final idea, we decided that a cookie business would be good because lots of people would buy cakes and cookies but on the other hand, other businesses my decide to do an alike business for example a sweet selling business. � Market Research: Our market research contained questionnaires of each year. These techniques were used to gain a better viewing of what the school pupils like think of our business idea. By using this information, we could work out certain thing like prices we should charge for each thing we are selling. So we could gain the maximum profit we could of the customers. � Business Plan: We did our business plans. But there was a delay of doing our business because we had not finished our business plan so therefore could not start so other business's got ahead of us. � Raising Finance: To raise finance, Kim and me loaned �10 from our parents. This meant we could buy our stock as soon as we had the money and then start up our business. ...read more.

Middle

This would make a real business more stressful, while ours wasn't. When our group talked we worked everything out quickly as we all knew what we were meant to do and we weren't all from different departments. In a real business all the people in one team may not all keep in contact and inform other members of certain things. More capital would be invested into the business and this would be used for advertising and stock buying. Better advertising strategies could be used such as television advertising and radio promotion. Therefore a wider range of customers would hear about the company. Also, more stock and better stock could be purchased. This would raise the quality of service we could offer and people would then be more inclined to pay higher prices. If at the end of their business, after it had closed, the firm could afford to throw away any unused stock, or they could sell it on. This would mean that they wouldn't lose the money that they put into buying the stock. Paying tax was another thing that we didn't have to worry about. However we did have to give 20% of our profits to charity. This was acting as tax payment. Our group didn't really make enough of a profit and so we did not pay this 20%. As well as tax, insurance and VAT would be another payment a real business would have to make. Again, our small groups did not have to pay this. When our business closed, we didn't have to tell anyone, as no one was relying on us weekly to wash cars. However, a bigger business may have had deals with customers and may arrange to wash their cars on a weekly basis. A real business would have to worry about setting up a place to work from. Our groups were fortunate that we could use our school and our houses for this purpose. ...read more.

Conclusion

If you don't then, either you or your customer will lose money. If you are doing a business that will have to be done in your own time and not in school, you have to be prepared to give up your own time. Maybe a business that can be run in school time with a captive market could possibly be better. Evaluation: As I have said before, our business would have done so much better if we had kept everybody up to the same point, such as making sure everybody brought in the money at the same time and had finished our business plans. Also, the fact that not everybody handed in her funds at the beginning set us back too. If we happened to do our business again we would make sure we arranged dates prior to when our business started. Therefore, we would have all been free at the same time and prepared. Also, we could have fitted in more car washing sessions and could have possibly made more money and gained a larger profit. We could have made sure we went out earlier and made sure we washed people's cars before they did it themselves. (When we went car washing, people had already taken advantage of the hot, sunny weather and washed their own cars.) Next time we could spend less money on stock as there was excess and bought more to begin with, then we wouldn't have wasted time re-stocking. We would charge higher prices as we found that our customers thought we had charged very reasonable prices, and were very happy with the service they received for the price they paid. I have learnt that washing cars takes much more time than I expected it to. Also, it is hard work, especially if you are working in very hot weather. I have found out that you need to organise what you are going to do every day, to the very finest detail. Therefore you will be prepared for the days ahead and be ready. If you don't you will waste time. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. The business I am going to set up is a snooker club,

    Quota sampling can be cheap to carry out but it's not representative of the whole population, My method of research The method I will be utilizing is Random Sampling. This is so that I can receive a representative response from the local population; also the data will be more relevant

  2. This report is about guiding companies to become successful in managing their supply chain ...

    Thus, it is possible that the industry would come to consist of a handful of multibillion-dollar global mega suppliers making returns similar to the automakers, meanwhile other smaller firms earning normal returns or small returns with low overhead. In summary, the Internet by itself is not likely to alter make or buy decisions.

  1. In this assignment I am going to produce a detailed business report on a ...

    a sudden change in consumers buying habits can alter the market suddenly. Although Sainsbury's has the top admired for the quality of its food as much as the size of its profit margins ten years ago. Now it is in the second place behind Tesco who's sales are growing at 5% per annum.

  2. Business report on Marks and Spencer.

    it must meet the organisations aim successfully; this can be identified easily by means of using people in the most effective way according to their skills. Training and developing staff is also important to Marks and Spencer, so that staff can offer a high quality service to customers, it is

  1. business plan and organise event

    selected randomly, i will leave a certain amount of questionnaire in the common room and i will go and collect them at the end of one day, this will be the best way to get a wide variety of opinions.

  2. In this coursework I need to produce a detailed business report on one medium-sized ...

    They also rise awareness and pass comment on issues, such as cold weather payments, which relate to the elderly. Charities rely on donations for their revenue. They also organise fund raising events such as fetes, jumble sales, sponsored activities and ruffles.

  1. For my report I will be looking at two businesses, a small business and ...

    It is more of a store where you travel to on a car, as it has a large space for car parking as well, which is a non charge car park, therefore, customers can park their cars and shop for as long as they like.

  2. Operating a small business.

    Quality- is extremely significant to future success of a business. If the quality of products is poor or inconsistent, then Peter's customers will be unsatisfied. Customers always desire consistent product quality. If this is not achieved, they will seek better products from competitors.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work