Task 1
Reported to: Mr. Allyboccus
Reported by: Mohangee Jibran
Date: 17 September 2017
Title: Identifying a Suitable Project
1. Introduction
This report consists all the difficulties that I had overcome to identify a suitable project
and it also outlines the reason I opted for the choice of selling Sando. This decision has
been taken by carrying out a survey with a sample of 25 school students. The following
report mentions all the means and options, I chose by applying various entrepreneurial
and technical skills acquired.
2. Enterprise skills
2.1 Procedure
The skills required for being an entrepreneur were clearly explained by my teacher with
whom we had regular class. Our Teacher explained in details that we have to prepare a
questionnaire based on a variety of products which I can sell in the school easily without
any hassle. Many innovative ideas came up but after debating the pros and cons, I chose
the best option. I had a busy schedule as I have other subjects to prepare but my objective
remain was to focus on this project.
2.2 Findings entrepreneurial skills
SKILLS MANDATORY FOR AN SKILLS THAT I POSSESS
ENTREPRENEUR
Technical skills Leadership
Ability to risks and responsibilities Self -confidence
Communication skills Perseverance
Proactive Determination
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I believe I have 4 entrepreneurial skills that are: Leadership, Self-confidence,
Perseverance, and Determination. These are the skills I have acquired so far which I
feel are essential in life, either in academics or in my personal life.
These skills encourage me to be a better person and work towards my goals. This year,
our football coach was sacked; we didn’t have any replacement for 5 months, so I took
the initiative to lead my team to the final knockdown. I am convinced that by end of year,
I will succeed my final examination and secure my career at the college. I always
persevere to get an A* in my project especially when I encounter many ups and downs.
This motivates me to move ahead and solve all the difficulties to achieve my goal. I stay
focused on my vision and how things need to be done to achieve my priority. I was
determined to get better grades in this problematic case. These skills are quintessential to
make me a responsible student and citizen.
Despite not having the technical skills, I can computer literate. However, I struggle a lot
in problem solving. But this in no way discourages me as I always keep faith in myself. I
am aware that my determination and perseverance lead me to a better achievement
despite experiencing obstacles. Being self-confidence is very important for an
entrepreneur. It helps him to believe in their ability, their vision, their products, enterprise
and reflects positively on the company’s reputation. It is well known to everyone that no
entrepreneur can be set up their business without having skills like leadership,
determination, perseverance, team work etc. Only by overcoming the obstacles, then the
person can take his business forward.
3. Identifying a project or activity
3.1 How a problem or a need that our enterprise could fulfill was reached
Following a meeting with my Enterprise teacher concerning the choice of the product,
which I could sell with no obstacles, I had my three options. All my classmates, have
received the green line to start the primary research work on three topics or more than, on
the next day.
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I came up with those ideas:-
I. Selling sando
II. Selling copybook
III. Selling fruits
The next day my teacher requested me and my classmates to print some questionnaires. It
was difficult to get permissions to leave school premises; hence I have to print at the
school staff office.
All my friends have opted to distribute 25 questionnaires to the other classes in school,
after being granted permission from the rector. Questionnaires were filled during break
and recess and collected at the end of the day. However, despite being prohibited by
some teachers, we found some other leeway to distribute the questionnaires.
After collecting the filled 25 questionnaires, our Enterprise teacher requested us to do the
counting and represent the responses graphically on Pie charts and Bar charts.
Our main constraint was Time as we had only a weekend to finalize this report. Luckily
with the help of my cousin, I manage to represent the finding diagrammatically.
3.2 Findings
3.2.1 Sando
The response for Sando was positive as expected given it’s a favorite of all pupils as a
snack. It is not harmful to their health and easy to carry around. A very high percentage
of students want to have Sando again next year and the years to come. Selling Sando to
the students will allow me to make some profits as it is affordable.
3.2.2 Copybook
The response for copybooks and Sando was the same as school materials is a must for
every student. Copybooks can be bought at wholesale price from Atlas or suppliers and
resold to the students with a profit.
3.2.3 Fruit
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The response for fruits was poor as students prefer to eat fast food and consume fruit
juice.
3.3 Questionnaire and Findings
1. Which one of the following items you want at school ?
Items
20%
40%
Sando
Copybook
Fruit
40%
As shown in the result the sando snack was the most favorite of the students whereas ,
copybooks which can be sold with a profit after acquiring it from a wholesaler was the same as
school materials is a must for every student.
While the response for fruits was poor and many pupils did not satisfy with the idea of eating
healthy fruits as it is perishable.
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2. Did you prefer to eat healthy food ?
Healthy Food
16%
Yes
No
84%
3. Where would you like to have your lunch ?
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Lunch Spot
36%
Classroom
School yard
64%
4. How much money do you spend ?
60% 52%
50%
40% 32%
30%
16%
20%
10%
0%
Between Rs 1- Rs25 Between Rs 26 - Rs 50 More than Rs 50
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3.4 Conclusion :
After analyzing the feedback from a sample of 25 students, I have decided to sell Sando
due to the following reasons:
It is cheap and affordable as snack.
It will be profitable if I purchase them from a wholesaler and resell at school with
a profit.
It is healthy compared to marshmallows and other sweets.
It is a light snack given it is a wafer.
It is easily carried around in a lunch bag.
It has a 1 year expiry date.
3.5 Purpose
My aim is to offer a healthy and affordable snack to students who receive a pocket money
so as to make some profits while I purchase the Sando at wholesale price. This will serve
as a stepping stone to enter the Entrepreneur world by starting a small business with my
friends.
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Task 2
Action Plan
This shows steps that I will, or activities that I will perform for my strategy/ goal to succeed.
This action plan has three major elements: -
1) Specific tasks
2) Time Horizon
3) Resource allocation
Task Time expected Date of Monitoring Outcome
completion
Meeting for Will check that all the ideas were Finally I decided on
discussion of correct. three innovative ideas.
project ideas 3 days 28/08/2017
Market research I made 25 questionnaires and All three of the project
for 4 days 4/09/2017 distributed them to some pupils ideas were primarily
suitable project of the college. researched using
areas questionnaires and
were illustrated by pie
chart.
I decided to make some own Finally after some
Financed by 2 months 17/09/2017 savings as our teacher said us own savings, I get the
that it would be costly. right amount.
Raising I decided to invest about RS 400 After one month of
appropriate 2 months 10/05/2018 in the aim of making some own savings the
finance beneficial profits. amount of money that
I had targeted was
reached.
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Base on a lucky draw that was The rector give us the
Set up a stall 3 session of 45 09/05/2018 organized by my teacher, my permission to set up
minutes each friends and I had got each other a our stall.
before the break. stall to sell their products.
Prepare a I will go through the presentation Base on my
presentation 2 weeks 27/03/2018 and slides to give a feedback of presentation which is
my strategy and goal to succeed. well prepared I move
forward with it.
Prepare a I will get a brief feedback on All sources of finance
Financial 1 week 08/03/2018 which sources of finance I that I required to
planning considerate for this project. establish.
Financial Planning:
Sources of finance chosen:-
Sources of finance considered and chosen.
Item Sources Advantage Disadvantage Sources of
Required in of finance finance chosen
our activity (with
justification)
Fees for Own Savings money guarantees It may be too low and My first
sando savings me to keep my income and risky for the owner. decision was
purchase to spend it later. that I would
ask my parents
of financial
support to help
me in this
Loan Our parents can provide us It may be risky as we
problematic
from with financial aid with have returned them there
case to get
parents some personal agreements money as soon as
some funds. I
to be accepting. possible.
decided to do
my own
savings as I
knew it would
be profitable
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for me rather
than asked
them to
provide me
some funds for
my investment
in this asset.
So, after
debating the
pros and cons,
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Task 3
1.1 Description of the situation:
As the amount of finance required to buy my sando biscuits packs will be a bit costly. I listed up all the
possible options of sources of finance and then collated of all my advantages and disadvantages to analyze
the most suitable method of raising finance in this kind of a situation but the only source of finance, which
suited the situation, was able to make some own savings. In order to make this possible I have to keep my
income {money} instead of spending it, and then I decided to prepare a presentation. I made up a
projected budget base on a visual description of the expected financial results of my activity.
1.1 Evidence used in the meeting:
Projected budget
Slides and charts
Receipt
1.2 Benefits to the school accepting our proposal:
The school could click our photos and our enterprise project on the school web and social media
in order to attract more students to do this subject.
By looking at me, more students will be encouraged to join the subject enterprise.
My enterprise will tend to gain extra qualification and its credit will obviously in favor of the
school.
Students of the school will get healthy food at reasonable price.
I as a part of the school will get a chance to get experience and acknowledge.
Negotiation :
Before we go to negotiate to the rector regarding many permission to be applied for example if
we can came to school 30 minutes late and to late us to go home 10 minutes later. We practice in
class on which and what permission to ask the rector. Finally when the rector granted us those
permission we can started to prepare us with our marketing started tomorrow and we have to
prepare us for this.
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Appendix :
HIGH DEMAND
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What do you desire to have at school ?
20%
40%
Sando
Copybook
Fruit
40%
1.3 Weakness of the proposal:
The negotiation that I had taken with the rector regarding permission that I asked him to let me
come school at 9 o’clock has persuaded the rector to have doubt on me.
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1.4 Outcome:
Finally, the rector agreed that I can come to school at 9 o’clock to sell my product.
1.5 Why I was successful:
My presentation was well prepared. It laid out all the future probabilities in terms of finance for one while
week as the presentation consisted of a projected budget and even the business plan was explained to the
rector understandably. This presentation also indicate the results of my market research , which made the
rector to know that there was really a very high command for the respected service that I will be providing
and therefore ensured him.
4.11 (B) Problems I faced
During my marketing, I did not notice that the price tag that I set up on my sando’s biscuits will require
me a lot of money changes. During the short break I did not had any problem to deal with that. But I know
that on the long break many students will come to buy my biscuits, I decided to reduce the cost price of
my biscuits so that I did not have deal with them with the changes issues. These questionnaires were a lot
time-consuming as I had to all around the school and distribute it to many students as possible to get
accurate results. In turn this was even quite expensive as outside the school other stationaries shop demand
a high amount and it was quite difficult to get permissions to leave school premises; hence I have to print
at the school staff office. So I had the burden of printing the questionnaires alone.
4.11 (C) Monitoring
In order to make sure that the presentation is prepared before the deadline, I always kept on marketing
whatever I did per day in my notebook. To make sure that it came accurate, I made a checklist on a dairy
book which I kept on writing which difficulties I face up during my marketing. This help me to know my
error easily.
4.1.2 (A) My contribution
Before carrying out a market research all over the school, I had to finalize with what medium of research
to use. I came up with the conclusion to carry out a questionnaire base on which possible product I can
sell at school and I will distribute it to the students. I had to take into account that the questions were well
thought and appropriable to answer.
4 Implementing the plan
4.1 Actions performed
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Convincing the school authority to allow me to set up my stall.
Purchasing Material.
Promoting my enterprise.
Arranging a table for my stall and made it the perfect one.
Convincing the rector to let me come school at 9 o’clock.
Convincing the rector to let me go home when I finished selling my product.
4.1.1 Convincing the school authority to allow me putting up the stall.
We all knew that it was an important factor of our activity to let us have a stall to do our marketing. As
we all know without a stall we cannot carry out enterprise in any markets. So, I take the initiative to
request the rector if I can get a stall to set up my business. Finally, when we get a class to set my stall
with my rivals (other who do enterprise with other product to sell) my teacher and us (rivals) organized a
lucky draw to know which one will get the better part of the class to set up his stall.
2.2 Planning & Implementation
In my action plan, I listed all the steps that I took or the actions that I performed for my master plan to
succeed. I mentioned clearly what was done, by whom, when it was done, what specific resources were
available for particular activities. But all these component were just summarized and not being explained
well. However, marketing an average profit clearly indicates that my decision on sources of finance was
well planned. I print many questionnaires and I give it to many students.
3 Conclusion
I was successful in choosing the appropriate sources of finance as I know I played a major role in
improving my cash flow. The most effective suggestion was to have full faith on you and the capability to
complete your tasks. But at the end, I have partner up with my arch-rivals to sell my sando; just like me he
was also selling sando and at the end we share our profits but I was still happy as I make some beneficial
profits at the end of the day.
4 Recommendations
I have now gained a lot of entrepreneurial skills after carrying out this activity. This project has motivated
and helped me a lot in deciding my future career as an entrepreneur. I have met with many challenges and
been able to do a feasibility study for the first time in my life. This project has helped me to acquire
knowledge, maturity and understand how to break as a small entrepreneur.
Reported to: Mr Allyboccus
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Reported By: Mohangee Muhammad Jibran Peerbaccus
Date: 3 August 2018
Task 4
[Link]
The purpose of this report is based on the main success and failure of my enterprise, Sando
enterprises.
[Link] and analysis
a) Finance
i. Suitability of sources of finance
Using my personal own savings was a very important factor especially on the first day when I
had no income as I could buy sando biscuits packs. Otherwise I couldn’t have been able to
produce the sando biscuits lonely.
Loan from parents was a sensible matter as I have to return their money as soon as possible; it
was easier to ask them money as they knew me and wanted me to carry on this enterprise. As I
know it didn’t look professional, with charge of interest could have been applied by them, which
could increase the prices of my product. This could have encouraged people to dishonor my
sando biscuits.
Unfortunately this meant that I was trying to find a way to terrify them in order that they did not
buy and pay intention with my product by elevating the cost of my sando. In an attempt to try to
persuade them to buy my product with full faithful trust at a right price which preserve my
chance to get enough profits on each sando biscuits. Also having to repay my parents initial
money with an interest rate approximately 10% on each pack of sando which meant I had to sell
more in order to repay their loan. Fortunately with enough of luck and chance desperate a
difficult journey I was able to collect enough money for this business.
ii. Management and monitoring of income and expenditure
When starting up, I was afraid because I di not have enough experience and acknowledge of how
to run a business at my oneself like this. Without the extra effort that I had done by doing a
concrete investment, I would have struggle enormously in the aim to keep enough sando to sell
during the break.
I also underestimated how it was difficult it was going to maintain all sales and expenditure
records when they were sold. My forecasts were not accurate. For example I did not take into
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account that one flavor were not well appreciated by many students as many of them prefer the
chocolate one which make it harder to generate enough income.
However at the end I did not have any choice than to cut costs and team with my competitor who
also sell sando in order to make some savings with at the end of the journey we share our profits.
Most sales were in coins but with time I have started to reduce my price to get enough cash and
to not deal with coin issues. Overall I think my project was a success as I made a profit of RS
348 comparable to my RS 400 investment.
b) Planning and Implementation
i. Identifying a project
Creating ideas provided by my teachers have helped me perhaps in my succession of this
business up and running. Without him I would have opted for difficult and more lucrative ideas
with many task to be accomplished to make this project first one.
My market research did not contain enough detailed. For example which s flavor did the student
prefer to eat. But with this lack of maturity have force me to buy all the flavor base on a detailed
checklist to be followed by everyone. With the demand is based on just which food item and I
miss another opportunity to make a greater profit as I had teamed up with my competitor.
ii. Carrying out the Action plan
Some activities did not occur as per the the plan. For example I did not pay attention that one of
those sando flavor is not a well appreciated by the student who prefer to eat the chocolate one as
he is tasty and they have the pleasure to appreciate his tastes while watching other pupils playing
football in the yard as the other flavor’s like: Vanilla, Cheese and finally the coconut which I did
not pay attention to buy as it is the last flavor who did not have a good ratings between those 4
flavors.
With at the end of the day pupil are not interesting to buy my biscuits, I did not have other
solutions with my competitor who also sell sando like me and cut costs in order to make some
own savings and at the end we can share our profits without any dilemma between to know
which one of his product sell and how much we can get on each sando with a 50-50 sharing
above my competitor and me.
I didn’t have enough coins to give up as a change in the starting up. Which mean that I have to
borrow coins from my friend to return their money changes as soon as possible. This was not
professional from me to reduce my income in order to save my investment penny.
Conclusions
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I believe with my own savings I have get the best of it with cleverly and technically plan my
financial planning. It is possible for me at the end to cut down costs but in order to save my
money income I have to do this pitiful sacrifice to save my business from losses.
The market research is not detailed more on the flavors which cost me time and money to sell my
products. My panning was well planned but I did not follow as per the steps to make this the
most one.
Recommendations
Finance
Try to obtain the maximum from my cost price to cover my investment. This would help
me to establish a perfect and understandable income and expenditure budget.
Keep up- to-date my errors during the marketing concern on my sales and and costs as it
can help me to progress and get a proper improvement in those areas.
Planning and Implementation
I should do more through my market research. Having a more detailed questionnaire
would have facilitated me to estimate possible demand and quality of the product.
I would try to cut down things which are not essential for my business. This would help
me in attracting more customers and would not reduce my costs price.
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