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POB SBA Guidelines Additional Details Essay Sample

POB SBA Guidelines Additional Details Pages
Pages: Word count: Rewriting Possibility: % ()

1. Conceptualize a business idea and talk about it with friends and families to determine its viability. Think of all the aspects – money, where, what type, good or service, employees, marketing, laws, ethics, technology, etc. 2. Obtain a copy of the actual guidelines in the Syllabus as given by CXC. 3. Pay special attention to the marks allocated to each part, the word limit, the presentation requirements and the deadlines as given by your teacher. 4. Determine whether you are writing the Production, Marketing or Finance aspect of the SBA. Ensure your business idea can lend itself to the aspect chosen. E.g. If you are doing a Production SBA, ensure you are making something. A Finance SBA requires you to give much details about the actual figures and a background in POA can be an asset.

Marketing SBAs tend to lend itself to most SBAs. 5. PLAGIARISM IS NOT AN OPTION. BE ORIGINAL. BE CREATIVE. BE REALISTIC. 6. Ensure you start saving and backing up all material written/typed from the get go. Save on your desktops, on your flash drives and most importantly, email it to yourself. You will then have access to it from anywhere and you will not have the unfortunate experience of losing it at the worst possible time. Not to confuse yourself from first drafts to final drafts, save with appropriate names or dates to make it easier. 7. Just get started!!!

8. Once started, use the correct tense throughout the SBA, i.e. future tense, unless writing about an existing business and referring to things done in the past. DO NOT use first person when writing research material but instead use the third person. E.g. the researcher or the entrepreneur no I and me. Present research material in font size 12 and double space all work or font size 14 and use 1.5 spacing. Cover pages must be completed in duplicate and should include: student name, school code, school, subject, registration number and date submitted. All pages should be numbered and a Table of Contents (with page numbers) included as well. A bibliography should also be included. An appendix can be used to insert charts and graphs. Acknowledgements are optional but marks not deducted if not used.

PRODUCTION SBAs
1. Description of the Business – Should include the name of business, type of business, name and number of entrepreneurs, product/s, location, unique selling points, finance requirements, limitations, number of employees, reason for selected that business, potential for growth in the short and long term, history of operations if already in existence, etc.

2. Justification of Location – Should include the actual location/s of the business and at least 4 reasons for choosing that location. Check textbook for help with this if at a lost.

3. Selection of Appropriate Labour- Should include the type of labour needed, e.g. skilled, unskilled and managerial. A table can be used here if numerous. Describe briefly the job of each category of labour needed and identify the number of workers required. Discuss the method/s which will be used to recruit these workers.

4. Sources of Fixed and Working Capital – Should include a brief definition of fixed and working capital and provide examples of each which will be used in your particular business. Again, if numerous, present with a table and then expand. Additionally, identify specifics as to the sourcing of these capital assets. E.g. where will you be getting the building, money, stock, etc.

5. Role of the Entrepreneur – Identify the entrepreneur/entrepreneurs by name and discuss their duties/responsibilities in the business. Be specific about the key roles of the entrepreneur which are sourcing capital, decision-making and co-ordinating the factors of production.

6. Type of Production – Briefly identify the type/s of production in use by the business and say why. Types of production are extractive, manufacturing or construction and services. Or some texts refer to them as primary, secondary and tertiary.

7. Levels of Production – Again, briefly identify the level of production in use by the business and say why. Levels of production are subsistence, domestic and surplus.

8. Quality Control Measures – Should include the steps/methods which will be used to ensure that there is consistency in the product made and delivered. What will be done at each step of production to ensure that all products are of the same consistent quality?

9. Use of Technology – Should include at least 2 specific ways that technology will be used within the business whether it is in making the product or in the sale of the product.

10. Linkages – Identify and briefly describe the types of industrial linkages and then identify which type/s your business is and or will be engaging in. Refer to the texts here in your description.

11. Potential for Growth – Should include the short, medium and long term growth potential of the business with a specific emphasis on what ways the growth will be. E.g. employees, number of locations, products, etc. Be very clear as to what the opportunities are which exist currently for growth to occur.

12. Government Regulations – Identify at least 2 government regulations that govern how businesses operate and more specifically, regulations that will govern operation of your business type specifically.

13. Ethical Issues – Should include and discuss at least 2 issues and state how they will be addressed. Ethical issues are issues that create moral dilemmas. In the course of business, what areas of ‘gray’ can occur and how will you take steps to ensure that unethical behavior does not occur in the operation of your business.

N.B. Don’t worry about the word count initially but about getting all the content together. In the second draft you will then learn to cut down unimportant information and summarize content. Always spell check and check for proper grammar when you are finished typing. READ OVER before submitting anything, even a draft.

MARKETING SBAs
1. Description of the Business – Should include the name of business, type of business, name and number of entrepreneurs, product/s, location, unique selling points, finance requirements, limitations, number of employees, reason for selected that business, potential for growth in the short and long term, history of operations if already in existence, etc.

2. Organization of Marketing Department – Should include an organizational chart of just the marketing department if this department consists of more than one person. Include each different position within this department and a brief job description of each.

3. Market Research – This section is worth 6 marks and some extensive research (whether primary or secondary data) must be done to ensure it is realistic and flows with the rest of the SBA. a) Target Population (qualitative and quantitative) – Who are the target market/markets the business is targeting/pitching its products to? What is the size of this market in figures, location and age distribution? How do members of this target market behave in terms of consumer demands? E.g. what are their spending patterns, etc. b) Price – A table might be useful here. Identify the price/s which will be used for the goods/service and briefly discuss what factors were used to determine what appropriate prices were for the target market.

c) Competitors – Identify the local and regional competitors both direct and indirect by name and product/s. Mention what the competitors are offering and how the competition affects your business but close with the unique selling points of your products and how your products will provide for a niche the competitors’ products do not provide for. d) Substitutes – What are the products which can be used in place of your product, directly and indirectly. Almost everything can be substituted. Identify the elasticity of demand for your product as compared to other products. e) Sales Forecast – A graph should be included here outlining the first 6 months to 1 year of sales for the product. A discussion on the factors which were used to determine the amount and level of sales should clearly be illustrated. E.g. the size of the target market, peak seasons, average prices, etc.

4. Product – (Branding and Packaging) Should include a detailed description of the actual products being sold by the business with the logo, trade mark or tag line, and the brand if there is one. Details on how products would be packaged should also be included. If the product is a service, a description of how the service will be presented, especially the customer service part, should be given.

5. Pricing – Here an illustration as to how the prices of the product were determined should be included. If there are many products, a couple illustrations would suffice. E.g. the cost of the product, shipping, insurance, mark-up, etc.

6. Place – Should include a discussion as to the locations/places in which the product/s will be available to consumers both online and physical locations. Discuss how these locations will prove effective for the target markets identified.

7. Promotion Mix – Should include a discussion of how advertising, sales promotion and public relations can be used to promote the product and business. Include specific ways and strategies which will be used and how it is suitable for the target markets identified.

8. Government Regulations – Identify at least 2 government regulations that govern how businesses operate and more specifically, regulations that will govern operation of your business type specifically.

9. Use of Technology – Should include at least 2 specific ways that technology will be used within the business whether it is in making the product or in the sale of the product. 10. Consumer Complaints – Should include at least 2 possible complaints consumers might have with good or service and state how these complaints will be addressed or how these complaints will be proactively dealt with.

11. Ethical Issues – Should include and discuss at least 2 issues and state how they will be addressed. Ethical issues are issues that create moral dilemmas. In the course of business, what areas of ‘gray’ can occur and how will you take steps to ensure that unethical behavior does not occur in the operation of your business.

N.B. Don’t worry about the word count initially but about getting all the content together. In the second draft you will then learn to cut down unimportant information and summarize content. Always spell check and check for proper grammar when you are finished typing. READ OVER before submitting anything, even a draft.

FINANCE SBAs
1. Description of the Business – Should include the name of business, type of business, name and number of entrepreneurs, product/s, location, unique selling points, finance requirements, limitations, number of employees, reason for selected that business, potential for growth in the short and long term, history of operations if already in existence, etc.

2. Purposes for which finance is needed – Should include a description of the categories of assets, etc needed to be acquired and the various tasks to be completed with the costs attached to each. The amount of finance needed should also be clearly identified specifically.

3. Organizational Chart – (Selection of appropriate labour) An organizational chart of the entire organization is required here. A description of the various levels of staff (if the organization is large) or a brief description of the various jobs that will be required for operation to occur. What methods will be used to recruit labour?

4. Cost of Producing Goods – (Prime and Overhead expenses) Prime costs are direct costs whereas overheads are indirect costs. Use tables to present this data if necessary. A realistic outline of the type of expenses expected and the costs attached to each on a monthly or yearly basis. Clearly identify the time period.

5. Capital Goods – Should include a brief description of what capital goods are and more specifically, which capital goods will be used by your business.

6. Sources of Finance – Should include the amount, terms and conditions and source of all finance sources, whether personal or commercial or both.

7. Collateral – (Guarantor, cosignatory) Should include a description of the security which will be used to guarantee any loans or credit terms. Complete information about assets being used or guarantors to back loans, should be provided.

8. Capital Instruments – (equity, shares, debt, loans) Use textbooks or online research to get a better understanding of what the various capital instruments identified above and their advantages and disadvantages are. Identify which instruments will be used by the business.

9. Implication of Capital Mix selected – Clearly outline the advantages and disadvantages of the capital instruments selected.

10. Projected Performance – (revenue, costs) A simplified version of financial statements is expected here. A Profit& Loss or Income & Expenditure Statement and a Balance Sheet. Clear indications should be made about the various revenues and costs associated with operations with an estimated projection for profits.

11. Use of Technology – Should include at least 2 specific ways that technology will be used within the business whether it is in making the product or in the sale of the product.

12. Government Regulations – Identify at least 2 government regulations that govern how businesses operate and more specifically, regulations that will govern operation of your business type specifically.

13. Ethical Issues – Should include and discuss at least 2 issues and state how they will be addressed. Ethical issues are issues that create moral dilemmas. In the course of business, what areas of ‘gray’ can occur and how will you take steps to ensure that unethical behavior does not occur in the operation of your business.

N.B. Don’t worry about the word count initially but about getting all the content together. In the second draft you will then learn to cut down unimportant information and summarize content. Always spell check and check for proper grammar when you are finished typing. READ OVER before submitting anything, even a draft.

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