Interprise in action
Within this unit we were split into two groups within our business studies class and given the task to set up and run a successful small business. When placed in our group we were egger to start brainstorming ideas for our business, but first we all decided on running our business within the school grounds selling our products and services to the school pupils. We began to brainstorm different ideas to what our business, as the business is being run from within the school it had to come up with an idea which would appeal to pupils within the school and which is relevant to everyday school life or something which would be a luxury in school which would stand out as being a new innovative business idea. We also had to think about the price range which pupils within school would be willing to pay for a product or service which we were going to develop making our product affordable as well as profitable. Are brainstorming ideas led to a wide range of ideas.
After taking time to discuss these ideas as a group, we discussed the advantages and disadvantages of each idea we narrowed it down to three main ideas which we were willing to try, there were the 6th form hoodies, the meal deal and milkshakes. In order to decide on which one would be the most popular and profitable idea we decided to draw up 3 questionnaires which were to be handed out in a wide range of form classes and year groups. Copies of the questionnaires can be found in the appendix.
We were going to do the class of 2008 hoodies with the meal deals for the junior school. The year before 6th year students made hoodies for there year group and found that a lot of pupils did not want to pay the full price so we were going to do the meal deals to make up for this loss, but when handing out the questionnaires to our own year group we discovered that people would be willing to pay up to 20 for the hoodies therefore.
We decided to do the class of 2008 hoodies on there own as there was a high level of interest and they would achieve a large amount of profit overall. We decided this after looking at our market research, we found that pupils were willing to pay up to 20 for a hoodies which would certainly cover all the costs for our business if we were to sell a high amount of hoodies we would make a large amount of profit within our business. We then had to come up with a name for our business after a group discussion with a number of different ideas Rachel McMullan came up with the name super sweaters which we will voted to become our business name, once this decision has been made we began to feel like a team.
Team work elements Teamwork is very important when running a business in every stage of any business, it is important that each person within our team understands the commitment which has to go into running a successful company, because of this were are many job titles needed within the company. We decided within a group discussion the job titles which has to be filled in, each person was pleased with the job titles they had been given and from that moment we had to work together as a team to ensure the company would work well.
As a group we set up aims and objectives and made sure each person knew what was going on within each area of the business. Out team wants to plan, create, design and run a successful business within our school with our aim being to provide 6th year students with a high quality product to remember their time at Lagan College. Although our business will only be available to one year group it will still need to full group effort to get interest from each person in the year group to make a profit for our business. We will also need to make sure we get the orders together and suppliers in on time.
Every team and every business need a structure to make sure each person knows what their job is within the business and each task gets completed on time. A structure makes it clear who each person is responsible for and who they have to report to. We set up a formal structure so that each person in our team could clearly understand not only what there accurate job role is but know the job roles of other team members. As there is 10 people within our group there would need to be a constant flow of communication within the group with each person pulling there weight. The structure would clearly display this to our group. We broke our company down into 6 different job titles ensure that every task would be completed to a high standard to make our business a success.