IGCSE - Enterprise CWP

Candidate name: Disha Sarawagi

Centre number: IN758

Candidate number: 0006 School name: Fountainhead School

Task Three:

Implementing

the

1




Plan

Actions completed

Being a sole merchant, I was the only individual who oversawand controlled the day-to-day affairs concerned with theenterprise. I utilized my own particular aptitudes andinsights in the management of enterprise andundertook/considered all the risks related to it.These were the main activities that were undertaken during

the life of enterprise:

Raising Finance

Conducting Research

Purchasing Raw Materials

Accounting sheet

Advertising

Feedback Log

Promoting the enterprise

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1. Raising Finance

I needed to raise as many funds as possible in order to make

sure I had sufficient cash flow to cover the expenses and

Raising Finance

Conducting Research

Purchasing Raw Materials

Accounting sheet

Advertising

Feedback Log

Promoting the enterprise

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provide for any unexpected expenses. At the time of beginning

of my enterprise I had expected a loan of 6000/- Rs that

included the cost of expected raw materials. I managed to

take this loan at an interest rate of 12% per annum from my

parents. At the end I will calculate the interest and give

back the amount, which I borrowed from my parents.

The plan was that when I will receive orders, 50% of the

total cost of the accessory will be taken as to confirm their

order and the remaining amount will be taken at the time of

delivery. The plan was practiced and it ended up being a

wining one. After-every-sale accounts were monitored

accurately. Detailed records of every sale showing money

collected and cash owed was maintained. The financial status

was good enough because all the records were accurately kept

throughout the enterprise.

Evidence.

This is the proof to the above write-up (raising finance)

while negotiating.

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2. Conducting Research

While carrying out a market research I discovered that

there is a great opportunity for me to stand in the

market. This was successful because I managed to conduct a

primary research and research skills to see whether I will

have enough potential customers or not. After receiving

and analyzing the responses, I saw that more than 70%

individuals are willing to purchase the accessories, which

is a positive reaction from the client's that helped me to

accomplish the task.

Evidence 1.

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My investigation shows that customers liked this new concept of

fashionable accessories because the products were really

exclusive.

Evidence 2.

Survey form – (primary research)

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3. Purchasing raw materials

This was one of the easiest tasks to be carried out

because I had already borrowed capital in the form of loan

from my parents that helped me buy the resources. Before

taking a loan, I had made a rough plan about how much

money will be needed to purchase the raw materials,

because this was the only expense I had to face. So, for

this I visited few shops in the porch area of my city. It

did not strike me that they would obviously cost me more

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like 8000 Rs, which was not in my budget. I had expected

to buy raw materials at the cost of 5000 Rs. My parents

who themselves are entrepreneurs took me to a place named

(chouta) where we get materials at wholesale price.

However, the wholesaler said if you don’t buy material in

bulk I would cost you more. I calculated in my mind that

if my business is going to run for 6 months than how much

material will be needed. According to this, buying in bulk

made me make a profit. The total cost of the material was

5000 Rs. It saved me from making a loss of 3000 Rs. Plus,

materials that were brought in bulk are like pearls, beads

and set of bangles, which will help me in making of the

bangles and hanging in the long run of the business.

Evidence Materials bought to make handmade Bangles and Accessories.

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4. Making a feedback log

Keeping a feedback log is really essential because it

helps in identifying and building the skills needed for

success. Customers are the livelihood of my enterprise,

and not dealing with the reasonable requests they make

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could cause failure. However, referring to the plan (see

action plan) sending a Google form was not an effective

way, not everybody knew how to use Google forms and taking

feedback from the customers was my own responsibility. So,

I used different methods to gather feedback from the

customers like observation, social media, feedback book,

and the point of sales happening.

Looking at the response, I think I don’t really need to

improve upon the product. Customers are satisfied with the

product and there is nothing more that they expect. My

hard work and determination helped me gain the customer’s

trust and complete the task. This is a great achievement

for me.

Evidence Customers gave their feedback on social networking sites.

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5. Accounting sheetFor keeping track of the sales I have made an accounting

sheet where I maintain the day-to-day log of the income

happening. This includes customer’s name, product type,

selling price, cost price, and the total profit. Keeping

this log helped me knowing whether the enterprise is going

in loss or making a profit. Plus, (see evidence – 3) for

the cost price and selling price of per bangle and hanging

and the discounted price for the promotion of the

business.

EVIDENCE 1.

Customer’ Produc Quanti Cost Sellin Total

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s name t type ty price g

price

Profit

1.

KRISHNA Bangle 3 150 450 300

2.

BHARGAVI Bangle 2 100 300 200

3.

MAMTA Bangle 1 50 150 100

4.

NANDA Bangle

and

Hangin

g

1 each 120 270 150

5.

RADHIKA Bangle 1 50 150 100

6.

SUSHMA Bangle 2 100 300 200

7.

SUMAN Bangle

and

Hangin

g

2 each 240 540 300

KAVITA Bangle 1 50 150 100

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8.

9.

ANJANA Hangin

g

1 70 120 50

1

0.

GAYATRI Hangin

g and

bangle

1 each 120 270 150

1

1.

DIPTI Bangle 1 50 150 100

1

2.

KINITA Hangin

g and

bangle

1 each 120 270 150

1

3.

DIYA Bangle 2 100 300 200

1

4.

VEDANSHI Bangle 1 50 150 100

1

5.

VINITA Bangle 1 50 150 100

1

6.

NEETU Hangin

g and

bangle

1 each 120 270 150

1 AALIYA Hangin 1 70 120 50

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7. g

1

8.

VIBHUTI Bangle 1 50 150 100

1

9.

SHELJA Hangin

g and

bangle

1 each 120 270 150

2

0.

SRISHTI Bangle 2 100 300 200

Evidence 2.

Calculating the profits

After doing the calculation I found out that my enterprise isa success and is making a good profit.

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Evidence 3. Key – CP (cost price) and SP (selling price)

6. Promoting the enterprise

Selling price (4830 Rs)

Cost price (1880)

Profit (2950 Rs)

Bangle and

Hangings

Per Bangle

50Rs (CP)150Rs (SP)

70 Rs after

discount

Per Hanging

70rs (CP)

120Rs (SP)

100 Rs after

discount

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I did promoting of my enterprise because it is an integral

part of the business, with the incentive to earn money and

branding of the business. However while the enterprise was

going on I had expected more than 25 customers. But, my

potential customers were just 20 of them. So for promoting

my enterprise I had decided to keep sale on my products. I

exhibited my products in few boutiques and kept seasonal

sale. This idea turned up really well. While exhibiting

of my products in the boutiques I got more and more

customers. Plus, keeping seasonal sale didn’t help me make

a huge profit but it helped me get more potential

customers. I used social media, which is obviously a great

tool for branding and keeping online discounts, but in

addition to this I also used my persuading skills to

influence the customers through verbal communication.

Evidence 1.

Accounting sheet – After discount

This accouting sheet includes the customer’s name and the

discounted selling price of the product. Keeping seasonal

sale helped me get more customers.

No.

Customer’

s name

Produc

t type

Quanti

ty

Cost

price

Discounte

d Selling

price

Total

Profit

after

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discou

nt

1.

PRAGYA Hangin

g

1 70 100 30

2.

AYMAN Bangle 1 50 70 20

3.

BHAVNA Hangin

g and

bangle

1 each 120 170 50

4.

SAKSHI Bangle 1 50 70 20

5.

SHALINI Bangle 1 50 70 20

6.

DISHA Hangin

g

1 70 100 30

7.

MAYTRI Hangin

g and

bangle

1 each 120 170 50

8.

JAYANI Hangin

g

1 70 100 30

AVINA Hangin 2 140 200 60

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9. g

10.

SWANI Bangle 1 50 70 20

11.

VIDUSHI Bangle 1 50 70 20

12.

PRIYA Bangle

and

hangin

g

1 each 120 170 50

13.

NEELAM Hangin

g and

bangle

1 each 120 170 50

14.

DARSHITA Bangle 1 50 70 20

15.

SHAYNA Bangle 1 50 70 20

16.

DELLA Bangle 1 50 70 20

17.

NAINA Hangin

g and

bangle

1 each 120 170 50

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18.

CARRIE Bangle 1 50 70 20

19.

MYTHILLY Hangin

g

1 70 100 30

20.

NEHA Hangin

g and

bangle

1 120 170 50

21.

ZARNA Hangin

g

1 70 100 30

22.

SHIVIKA Bangle

and

Hangin

g

1 120 170 50

23.

SHIMONI Bangle 1 50 70 20

24.

TORAL Hangin

g and

bangle

1 120 170 50

25.

RANI Hangin

g and

bangle

1 120 170 50

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Evidence 2.

Calculating the profits.

Evidence 3.

Selling price (9600 Rs)

Cost price (3950)

Profit (5650Rs

)

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7. Advertising

At the start of an enterprise, advertisements become an

important component. Due to advertisements people came to

know about my enterprise. Using inexpensive and effective

mediums to advertise was my objective. Poster and social

networking sites are the two types of marketing tools I

have used for advertising of my enterprise.

I wanted to reach to as many people as I can through the

advertisements. I chose to exploit the social media and

technology, which is easy, effective and inexpensive.

Plus, I used my own creativity skills to design the poster

which is creative, persuasive and informative. Then, the

posters were stuck in the school, residential areas and in

the nearby societies.

Evidence 1.

A Google plus post

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Facebook post

Evidence 2.

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Poster used for advertising

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1. Action plan

Task Timeexpected

Peopleresponsible

Date forcompletion

Monitoring Outcome

Raisefinance

1 week Disha 12th June2014

Keeping afinancial log willhelp me inmaintaining theloan deed with myparents

I managed to takesufficient amountof loan from myparents, to startthe enterprise

Conductresearch

1 week Disha 19th June2014

After getting thequestionnaire(survey) approvedbyMrs.shaikhmahmud,the number ofresponses willindicate whetherthe task isaccomplished ornot

When I reviewedthe responsesheet, I saw thatmore than 70%people are readyto buy thefashionableaccessories,which is apositive responsefrom thecustomer’s thathelped me toaccomplish thetask

Analyzetheresearch

2-3days

Disha 22nd June2014

After sorting –out the research,I will make aclear and anevident plan forit

After assessingthe research Igot to know myproducts demandin the market

Purchaserawmaterials

2-3days

Disha 25th June2014

I had boughtsufficientmaterial alltogether because

This helped me inminimizing thetransportationcost plus

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it would save mytime plus I alsomaintained a diaryto keep the trackof materials I hadpurchased

maintaining adiary helped meto save moneyfromunnecessarilywastage ofmaterial

Researchbangle andaccessories designs

2-3days

Disha 28th June2014

I surfed varietyof fascinatingdesigns whichwould draw theinterest ofcustomers

I had quite a lotof orders becausethe bangles andaccessories gavea catchy look

Advertisements

1 week Disha 5ht July2014

I had used social-media as mymarketing toolwhere I hadcreated a page onFacebook andGoogle plus, of myproducts andposted somefabulous picturesof bangles andaccessories

With this I wasable to attractmore and moreconsumers wholater on turnedas my potentialcustomers.Secondlyadvertising onthe social-networking sitescreated awarenessabout mybusiness, becauseof which therewas more demandin the market

Promotionofenterprise

Ongoingprocess

Disha Ongoingprocess

By doing a marketresearch whichwill help me knowthe demand of myproducts in themarket

There was animmenseincreasement inthe number ofpotentialcustomers

Accountskept

Ongoing

Disha Throughoutthe

I have maintaineda financial log

It will help mein keeping the

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process

business where the inflowand outflow ofmoney will help memaintain thebalance sheet.However, it willalso help me knowhow much capitalwill be needed torun my business

track of mybusiness andindicate whetherthe business isin loss orprofit.

Feedback Ongoingprocess (tocheckwhether thecustomer’sneedaresatisfied ornot)

Disha Ongoingprocess

I have made aGoogle form, whichI will be sendingto all thecustomers to knowwhether or notthey are satisfiedwith the qualityof the product.

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Appendix

Some of the handmade Bangles and Hangings I

had sold.

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1. Presentation used as a evidence for negotiation

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Witness Statement Name of School: Fountainhead School

Name of Student: Disha Sarawagi

Group size: Sole propitership Date of Negotiation: 12th july

Description of negotiation

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Comments on Student performance:

Supplier’s signature:

Teacher Signature:

Student signature: Date:12th july.

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IGCSE - Enterprise CWP

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