In Partial Completions Of My Cape Management

of Business 2012/2013 Examination

NAME: Anu Maharaj

SCHOOL: Upper Level Educational Institution

SUBJECT: Management Of Business

TEACHERS NAME: Mrs. Meera Singh

CENTRE NUMBER:

TITLE:

Table of contents

Topic

page

Acknowledgement…………………………………………………….…………………..

……..1

Project Aims and objective…………………………………….………….

…………………….2

Methodology………………………………………….

….......................................................................3-4

Introduction/description of business...................................................................

…........................................5

The

repor

t………………………………………………….................................................................

......6-9

Aim and objectives of

business…………………………………...........................................................10

Analysis of business aims and objectives……………...……………………………......

….....11-13

Recommendation………………………………………….

………………………………….....14

Corporate

cultur

e……………………………………………….............................................................15

Analysis of corporate

culture……………………………...................................................................16-17

Recommendation of corporate

culture………………………................................................................18

Motivation of

worker

s………………………………………….............................................................19

Recommendation

motivation…………………………………...............................................................20

Reference

s………………………………………………….................................................................

.......21

Functional organizational structure…………………………………………………....

…........22

Appendix…………………………………………………………………….......23-

27

Acknowledgement

Firstly I would like to give thanks to the almighty god for giving me the

strength, guidance, knowledge and understanding that I needed to

complete my internal - assessment for without him nothing is possible.

Secondly special thanks for my management of business teacher,

Misses Meera Singh for her guidelines and time she willfully spend with

me into the successful completion into this task.

Project Aims and objective

The triumphant completion of this internal assessment involves the

consummation, of achieving the following objective;

To successfully achieve objective and guideline inaugurate for cape

standard regarding the internal assessment.

To scrutinize the operation and activity of business entities and the

perseverance of business knowledge in a practical environment.

To further develop one competence towards acquiring managerial

and leader ship skills.

Methodology employed

This internal assessment required meritorious and comprehensive

information from Setal Fabrication and Construction Limited Company

which was gathered through the following research techniques.

Primary research – this was regulated using the following instruments:

Questionnaire – A questionnaire is a research instrument consisting

of a series of questions and other prompts for the purpose of

gathering information from respondents.  The questionnaire

provided the investigator with the benefits of obtaining quantitative

and qualitative information from the business of setal fabrication

and construction limited.

Interview- An interview is a conversation between two people (the

interviewer and the interviewee) where questions are asked by the

interviewer to obtain information from the interviewee. The

interview provided the benefit of direct interaction and

instantaneous feedback.

Secondary research- Secondary research (also known as desk

research) involves the summary, collation and/or synthesis of

existing research rather than primary research, where data is

collected from. the following avenues is where information was

obtained ;

Textbook

Library

Internet

Business website

Pass students/family

The owner of setal fabrication and construction limited.

These secondary sources of data provided me with a foundation to make

this assessment empirical and encompassing.

Introduction/ description of the business

The private limited company of Setal Fabrication and Construction

Limited Company was established in 1967 and situated in Abidh Road,

Felicity has grown from being a sole trader business. A private limited

company is which the liability of the members or subscribers of the

company is limited to what they have invested or guaranteed to the

company. Limited companies may be limited by shares or by guarantee.

The target market of Setal Fabrication and Construction Limited is the

citizens of Trinidad and Tobago. This is so because Setal Fabrication and

Construction Limited are investing their currency in Trinidad and Tobago

in order to bring about development. Setal Fabrication and Construction

Limited deals with the building and construction of buildings by

developing the structure for any building. Some objectives of the

business are:

To have profit maximization.

To ensure that customers are satisfy.

To develop the country.

To become a multinational business.

To acquire more large scale internal and external growth.

To be the largest private construction firm in the country.

The report

This internal assessment seeks to gauge and interpret three (3) major

aspects within a business operation. These categories incorporate an

understanding of the business and it use of aim and objective, corporate

culture and motivation of workers.

The business operates to achieve the following goals:

To have profit maximization- profit maximization is the (short run)

process by which a firm determines the price and output level that

returns the greatest profit. This will be determined when the total

profit in a competitive market reaches its maximum point where

marginal revenue equals marginal cost.

To ensure that customers are satisfy- measure of how products and

services supplied by a company meet or surpass customer

expectation. Customer satisfaction is defined as the number of

customers, or percentage of total customers, whose reported

experience with a firm, its products, or its services (ratings)

exceeds specified satisfaction goals.( stated by the business

dictionary.

To develop the country- this is where all goods and services lie

within the country so that only the country benefits from it. This

causes the country to save money rather than having to import

goods the country can produce on its own.

To become a multinational business- Setal Fabrication and

Construction Limited wants to have their main headquarters in

Trinidad and Tobago and wants to open clones of the business in

other countries. This will help the business to acquire more profit

and are able to provide goods and services to a wider market of

people satisfying more individuals.

To acquire more large scale internal and external growth- internal

growth is a strategy to develop the base or capabilities of the

business itself. In other words, many businesses will reinvest in

employee development, departmental restructuring, or enhanced

product offerings in the hopes of providing a broader base on which

to provide services/products to customers. Internal growth does not

produce immediate revenue increases and may actually require an

input of revenue to be paid off over time, but internal growth

promises the potential for future returns on investment where by

External growth strategies develop actual company size and asset

worth. External strategies focus on strategic mergers or

acquisitions, increasing the number of mutual relationships through

third parties, and may even include franchising the business model.

The larger the number of business partners and/or franchisees, the

greater the net worth of the company and throughput of cash.

These reason external growth strategies tend to produce immediate

return on investment.

To be the largest private construction firm in the country- Setal

Fabrication and Construction Limited wants to compete with other

firms in order to become bigger, better and more reliable than

other large firms. The reason for the business desiring to become

larger is so that the owner can raise more profit to support his

family and to become more larger so that he can perform more

community work such as charity, sponsorship and family days.

Also the corporate culture of the business is the beliefs and behaviors

that determine how a company's employees and management interact

and handle outside business transactions. Often, corporate culture is

implied, not expressly defined, and develops organically over time from

the cumulative traits of the people the company hires. A company's

culture will be reflected in its dress code, business hours, office setup,

employee benefits, turnover, hiring decisions and treatment of clients,

client satisfaction and every other aspect of operations.

In addition motivation of workers are well illustrated at setal fabrication

and construction limited. Some of these motivational practices are listed

below;

Proper sanitize and clean area to work in- this is where the worker

are able to work in an area that is not hazardous or harmful to

his/her health. They are motivated to work because they feel a

sense of care coming from the manager.

Proper working equipments- this is where equipments within the

business are always well kept and ‘up to mark’. This motivates

them because with proper working equipments they will be able to

perform at a quick and easy rate which shows them that they are

very productive and makes them know a sense of accomplishment

whereby with abnormal equipment workers bay get annoyed in

doing their job which lowers their motivation level also it makes

them feel as though they didn’t accomplish anything for a honest

day work.

Fringe benefits- this is where employees get the benefits which

commonly include health insurance, group term life coverage,

education reimbursement, childcare and assistance reimbursement,

cafeteria plans, employee discounts, personal use of a company

owned vehicle and other similar benefits. This will be beneficial

because workers feel as though they are important to the business

so they make every attempt in getting their job done.

A fixed amount of vacation period for each worker- this is where

workers of the business are gives a certain amount of vacation

period that cannot be altered. This will be motivate the workers

because they know that within their vacation they won’t have to

work nor their vacation period wont not be reduces.

Time if with snacks and beverages- this is where workers are given

a resting period for which snacks and beverages will be given to

them at a free price. This motivated workers because they get a

feel of comfort and belonging in the business because the manager

provides them with refreshments, this will even motivate them to

work even harder to accomplish their objectives.

Aim and objectives of the business

Objectives- are guidelines to the business.

Aims- refer to the central purpose of vision of a business. Within Setal

Fabrication and Construction Limited the following long-term tactical

goals are for visionary aims:

Profit gain

Growth and expansion

Increase market shares

Setal fabrication also uses the mission strategic direction provided some

direction to the business. Mission statement for the business is to provide

customers with a building that is “build for perfection,” and will last a

dozen life times.

In Setal Fabrication and Construction Limited there is also evidence of

direction and motivation through short-term flexible objective including

the following:

Diversification of services and products.

Promotions to achieve short-term profiteering.

Increase consumer awareness.

Analysis of business aims and objectives

The following long-term tactical goals are for visionary aims:

Profit gain- this is the additional income gain by a firm from the goods

and services provided for the consumers. At setal fabrication and

construction limited, the business provides a service to its customers,

thus after completion of a project, Setal Fabrication and Construction

Limited collects a large sum of additional revenue which is known as

profit, Setal Fabrication and Construction Limited also sells extra

material (scrap) that remains after the project so that he can make

extra profit which is used to distribute to his workers as a bonus for

completing a project.

Growth and expansion- growth is defined as the increasing

capacity to satisfy the wants of the members of society. This is where

the business improves their goods and services so that customers can

get a greater satisfaction. The benefit of customer’s satisfaction to a

business is that when customers are satisfied they often return to the

business from where they acquired their satisfaction causing the

business not to lose any customers. Also this helps with advertising

because when consumers get satisfaction they often tend to discuss

to their fellow men about the quality service received at the business.

Expansion is  a business strategy in which growth is obtained by

increasing the number of stores in which customers can

buy a company's products and services. Unlike relocation, business

expansion entails opening up new stores in different

physical locations while still maintaining the current business

locations. (Stated by the business dictionary). This will be

beneficial to the business because the business will be earning more

profits and can get access to more customers from the location where

they open the new branch.

Increase market shares- this business assumption identifies the

concept that larger firms will be capable of satisfying a larger

number of customers than smaller firms. The concept is that the

business of Setal Fabrication and Construction Limited should

increase their market shares so that they would be able to satisfy a

larger or greater quantity of the county’s population hence the

business will make a huge profit gain from this because they are

now satisfying a large amount of individuals.

Diversification of services and products- Diversification is a form of

corporate strategy for a company. It seeks to increase profitability

through greater sales volume obtained from new products and new

markets. This is where a business has mobility in the factors of

production; hence can create new products to be sold to customers

so that consumers can experience new products. This will be

beneficial to the business because this allows customers not to get

bored of the same product but rather gain awareness for the

product. Also Setal Fabrication and Construction Limited can

improve their services by not only building the frame for the

buildings but completing the info structure for the building.

Promotion to achieve short term profiteering- Profiteering is

disproportionately large or grossly unfair profit, generated often

through manipulation of prices, abuse of dominant position, or by

exploiting a bad or unusual situation such as temporary scarcity.

There is usually no governmental control over profiteering unless it

involves illegal means.(stated by the business dictionary)

Increase consumer awareness- The understanding by an individual

of their rights as a consumer concerning available products and

services being marketed and sold. The concept involves four

categories including safety, choice, information, and the right to be

heard. This will help the consumer decide or know about the goods

and services sold to them so that they can express their own

satisfaction about the product.

Recommendation

Setal Fabrication and Construction Limited should create other branches

of the business around the country so that customers can have easy

access to the company, this will be an advantage because the business

can now reach a greater amount of the country population.

Also Setal Fabrication and Construction Limited can also advertise their

services to arise customer’s awareness about the service provided. Thos

will be beneficial because the business is now reaching a wider span of

individuals.

Corporate culture

Corporate culture refers to the seeded values of company's values and

customs; professional atmosphere in large corporations and

organizations reflected by dress codes of conduct and by the unique

style and policies of the corporation or organization, organizational

culture.

The culture of Setal Fabrication and Construction Limited is a

conservative culture; this is a culture that involves the manager

conduction his business and its decision after much analysis and thought.

This may bring about less risk within the business that may be fatal to

the business which could cause problems within the business

organization.

The worker of the business enjoys the task culture of the business

because more efficient and little risk decision is made because workers

are working under strict conditions where as they are given objectives

which they must do without any distraction of other employees. This

ensures that workers keep their jobs because if there was to be a bad

decision made by an employee, it could cause the employee to lose

his/her job hence if the bad decision is made by the manager, employees

are not accountable because they was following instructions.

Analysis of corporate culture

The corporate culture of Setal Fabrication and Construction Limited

allows the business to make strong secure business decision which

maintains a perfect reputation for the business. As a result of this the

business of Setal Fabrication and Construction Limited has maintained a

high average customer satisfaction because customers are assure that

their service well be well tended and analyze to ensure that there are no

existing faults that may happen during the production process.

The following are benefits that may arise from the business being a

conservative culture:

No customers are lost- this means that when customers benefit

from a great job, time and effort placed into doing the service they

paid for they would always put their efforts into the business

Less cost of advertising because customers do the advertising- this

means when customers are satisfied they share their satisfaction

with friends, family etc.

Business resources are managed adequately- this is so because

with a conservative culture the manager can come out with an

efficient way to execute an objective without wasting more than

enough resources that can be used within the objective.

Less faults arise within the business- this is so because

consideration is taken for every decision made by the business

which benefits the business finically and maintain a reputation

among other businesses.

Recommendation of corporate culture

The business of Setal Fabrication and Construction Limited could change

the corporate culture of the business from conservative culture to people

culture because people culture involves the manager promoting a culture

to motivate workers true socialization and interaction. As a result of the

manager interaction with the workers, workers feel a sense of belonging

in the business encouraging them to be motivated and from this workers

even work harder which promotes the efficiency and productivity in the

business environment.

Benefits of converting the business from a conservative culture to a

people culture are:

Workers are motivated- this is so because of the interaction

between workers and managers which make them feel important

within the business which is very beneficial because workers push

their selves harder to complete task within the business because of

the effects of motivation.

Less money has to spend in motivating workers- because the

workers are already motivated due to the interaction and

socialization they received from the manager at no cost.

Greater productivity within the business- this is so because a

motivated worker works more efficient than a d-motivated worker

(workers become motivated because of people culture).

Motivation of workers

At Setal Fabrication and Construction Limited motivation is highly

promoted. Motivation is where effective management will be capable of

encouraging workers to place greater efforts into their performance in an

attempt towards productivity and job satisfaction. Some motivational

practices that exist at Setal Fabrication and Construction Limited are:

Recognition/Attention-When your employees accomplish something

they have achieved something.

Pizza/Popcorn/Cookie Days- Every now and then pizza, popcorn, or

cookie days will help break up that everyday routine and help

people stay motivated by offering them snacks to relax.

Time off -Implement contests that earn time off, People will

compete for 15 minutes or 1/2 hour off just as hard as they will for

a cash award.

Good Working Environment- this is the environment in which

employees work in.

Fringe benefits- this is where employees get the benefits which

commonly include health insurance, group term life coverage,

education reimbursement, childcare and assistance reimbursement,

cafeteria plans, employee discounts, personal use of a company

owned vehicle and other similar benefits

Recommendation motivation

Motivation practices in which the business of Setal Fabrication and

Construction Limited should use are:

Career Path- employees need to know what is potentially ahead for

them, what opportunities there ahead in life for them. This will

make the employee know that the manager cares about their future

which inspires them to work harder for the business.

Leadership Roles-this is where you give your employees leadership

roles to reward their performance and also to help you identify

future promotable people. Employees may feel a great superiority

over others, which cause them to feel a high degree of importance

in the business. This also makes the employees feel a sense of trust

from the manager which makes an employee put all their potential

into their job.

Additional Responsibility- this concept are employees in your

organization who are begging for and can handle additional

responsibility, hence by giving them the additional responsibility

they become motivated.

Piece rate – this is where employees get paid for the work they do

in a job. This encourages a employee to work harder because they

know the harder they work the more money they receives.

References

Management of Business Unit 1 – Siddique Barkarr.

Business Studies Lancaster: Causeway Press Limited 1993 – Hall

Dave, Rob Janes and Carlo Raffo.

Business Studies Surrey: United Kingdom– Birchall, John and Morris,

Giraham.

Managing People in Organizations– Jeremy Adams.

Business Studies, United Kingdom– Hammond Susan.

Mastering Organizational Behavior – Richard Pettinger

Building a Dream: Good Walter S

Work and Organization Behavior – John Bratton

Business dictionary

How to Motivate Workers in Tough Times by ERIN WHITE

The business website www.Setal_Fabrication&construction_limited

Solvay Brussels school of management.

Human behavior patterns and motivation booklet

Business culture by (Ross A. Wirth, Ph. D. blog

Company culture by F. John Reh

Organizational structure by chron.com

Methodology at business dictionary.com

Objectives of a business- business dictionary.com

Functional organizational structure

Of Setal Fabrication and Construction limited

Board of directors

Chief executive officer

Managing director

Accounts (M) human resource (M) production (M) administration

sales payroll quality control transport filing room mail room

(M) Manager

Appendix

The following pie chart shows the times in which the workers of Setal

Fabrication and Construction report to work.

Time Workers Report To Work

7:00 A.M

7:30 A.M

8:30 A.M

8:30-12:00 A.M

According to the diagram, it illustrated the time period in which Setal

Fabrication and Construction Limited workers arrive to work. Illustrated

above it shows that 40% of the workers report to work at 7:00AM also an

average of 45% reach to work at 7:30AMthis means that 85% of the

workers reaches to work on time. Furthermore 10% of workers arrive at

8:30AM and 5% of workers arrive between the hours of 8:30AM to 12:00

PM hence this 15% percent of workers are often late due to road issues

or lack of motivation.