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 report.......................................................... .............6-9 Aim and objectives of business...........................................................10 Analysis of business aims and objectives..............11-13 Recommendation......14 Corporate culture............................................................ .15 Analysis of corporate culture...................................................................16-17 Recommendation of corporate culture................................................................18

Motivation of workers.............................................................19 Recommendation motivation...............................................................20 References..................................................... ...................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 growthinternal 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 didnt 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 wont 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 customers 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 countys 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 customers 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 advertisingthis 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) administration

human resource (M)

production (M)

sales room

payroll

quality control

transport

filing room

mail

(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.