Group Budgeting Assignment Workshop



Group Budgeting Assignment Workshop

Introduction

The business will be related to the fashion belts that will be comprised of leather and metal. The purpose of the ABC Fashion Belts is to provide quality products to the market which are made up of leather and metal.

Economics of One Unit

As the business, that is ABC Fashion Belts that will be comprised of leather and metal will be based on providing service to the markets. The salary to the staff will be paid on an hourly basis that is $ 10 per hour. Furthermore, commission will also be paid to the staff which will base on their performance and their commitment towards the job which will vary from $ 20 to $ 30. In addition, as the owner of the business, my portion in the profit of ABC Fashion Belts will vary from 12 % to 15 % and the remaining will reinvest in the business for growing of the business.

Evaluation of Business Idea

The business will be product oriented, which will facilitate, the especially females. ABC Fashion Belts is not possible and not very effective without the active participation of parents in this process. Therefore, the fashion belts will actively develop various forms of work with the family in providing quality leather and metal products that is belts.

Threats

There are various threats to the ABC Fashion Belts, for instance, the major threat include the increasing competition in the field of the fashion belts as the people are more concerned about the quality and design of the belts due to which they are more concerned fashion.

Goals

The goal of ABC Fashion Belts is to provide excellent quality and design. The ABC Fashion Belts aims to further enhance the quality of belts. This new framework will let the ABC Fashion Belts enhance the knowledge sharing and generation with the definitive goal of being at the front position of knowledgeable practice in the field of belts.

Technology

For the ABC Fashion Belts, it is important for the fashion industry to focus on the technological factors as the use of technology should be in accordance with the modern requirements. The technology that used for the ABC Fashion Belts include computer and printer for design promotional flyers and business cards, billing and record keeping, printing invoices and contracts.

Core Beliefs

It is important for the ABC Fashion Belts to define the core beliefs to the target market so that the customers get satisfied. ABC Fashion Belts will focus on the following:

Provide quality products to the customers so that the customers get satisfied.

Provide modern and innovative designs to the customers.

Specification for an Agreed Project to Implement a New Service

The project will require personnel in order to manage the work. In addition to that, every project required a cost for its implementation, which will be funded from the combination of debt and equity. The number of required personnel is around 14 people by the end of the year that includes managers, market staff, delivery crew, sales staff, and cleanup ...