Unit 1 – Investigating Business

Hardeep Khera

A01

Introduction

 In this unit, I will study the aims and objectives that profit not-for-profit businesses try to achieve.

I will explore how the external environment, such as changing social values and competition, affect the ability of businesses to achieve their aims and objectives.

I will study how businesses use market research and the marketing mix to identify and meet customer needs, explaining how these marketing activities help businesses to achieve their aims and objectives.

I will explore the meaning of enterprise and enterprising behaviour and investigate why individuals and teams are vital to the success of business.

Introduction of my business

The business that I have chosen is an off license grocery shop business which is located on Leicester Street, Whitmore Reans in Wolverhampton. The name of this shop is Khera Doaba Stores.

The business is owned by Mr Putvinder and Mrs Amerdeep Khera, who have been running it for the last 15 years. They bought this shop back in 1991 from some close relatives, who were looking to sell because of money difficulties, so they helped them out.

In the shop there are two joint managers Mr and Mrs Khera. There are also 7 employees that help out by stacking and bring in the goods; Hardeep Khera, Jasmine Khera, Navdeep Singh, Kuldeep Sangha and Sammy Pather. There are also two paper boys; Raj Bigra, Kiren Kang. The banking and buying of the goods is all done by Mr Harjinder Khera. He also sorts out what wages each employee gets and the hours they will work. The sorting out of all the invoices and the VAT is done by Miss Dalip Khera. Each day they have a sale of about £800-£1200 and in a year we have a turnover of £250 000-260 000.

The shop is open 7 days a week from 8 00 am to 9 30 pm on week days and 9 00 to  10 00 on weekends. The shifts that the employees do are from 8 00 to 6 00 Mrs Khera works then from 6 00 to 9 30/10 Mr Khera takes over. The rest of the employees have different shifts, depending on there responsibilities

The business sells alcohol, Jamaican food, sweets, crisps, tins (soup etc), cigarettes, freezer food, ice creams, fruits and general house products (kitchen cleaner etc). Other items that this business sells are: sim cards (O2, t-mobile, Orange) Phone Cards and newspaper. Also in the shop is has a PayPoint and Pay Zone where customers can pay all of their bills such as, gas bills, electricity bills, water bills and any other bills that they want to pay off.

The types of people that visit the shop are mixed ethnicity that live all in the local area. These people are very happy with the help they get in the shop. Khera Doaba Stores has a lot of competition with other stores, which are about 5 to 10 minutes away.



Location

The business is situated at:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                                                                                                                                                                                                                                                                                                                                                                                   

The front view of the business

 

 

 

 

 

 

 

 

 

 

 

 

 



Smart objectives

To survive, every business needs SMART objectives:

  1. Specific – Objectives should identify what they want to achieve.
  2. Measurable – You should be able to measure whether you are meeting the objectives or not.
  3. Achievable – an objectives that should not be beyond the reach of the organisation and individual employees
  4. Relevant – an objective should help to achieve the aims of the organisation
  5. Time specific - Descriptions of objectives should also include timescales of what is required by when. It should have a start and a finish date.
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There are many objectives set for Khera Doaba stores one is to increase the number of sales made in a certain amount of time. This shows the SMART objectives because it is specific, measurable, achievable, relevant, and time specific.

Aims and Objectives All Businesses exist to either produce goods (such as cars furniture and textiles) or to provide a service (drive you to your destination, i.e. Taxi). In some cases a business will provide both. In order to survive a business needs to provide a product or service that its customers are willing to pay for.

The ...

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