Name of Candidate: TIMOTHY PAHALAD

Name of School: SKELDON LINE PATH Secondary School

School Center #:

Name of Topic: Principles of Business

Date Submitted:
 Description of the Business

General T’s Mechanics & Body works Shop will be operated by Timothy Pahalad
who is an entrepreneur. General T’s Mechanics & Body works shop is going to be
operated as a sole trader business, in which it will be assisting in different areas for
example, it will be providing vehicle service for any type of vehicle which will
include the repairing of vehicles. It will be commencing from Monday to Saturday,
Opening Hours: Monday to Friday 8:00am to 4:00pm and on Saturday from 9:00
am to 2:00pm.

The Objectives of my Business are as followed:

• To maximize profit in-order to produce a reliable stream of income to

support me, my family and to clear debts.

• Supplying desired services at reasonable price.

• To promote economic growth for a sustainable economy.

OUR MISSION STATEMENT

Our main purpose at General T’s Mechanics & Body works Shop is to
provide high quality auto repairs and superior customer service. Gaining
trust and exceeding customers’ expectations is at the heart of our
organization, as we give all customers an exceptional experience while
having their vehicles serviced. We continue to strive to be a leading example
in the auto repair industry and at the same time support our local community.
 Justification of Location

General Balms Mechanics & Body works shop will be located in Kingston
opposite the wash bay in which it’s where my grandparents own. It will be located
at this specified area because:

• There is no one to compete with in that selected area.

• The business will be easily located by customers.

• Land Space: There will be availability of sufficient suitable land for this
business, at an economically cost-free price.
 Selection of appropriate Labor
General T’s Mechanics & Body works shop requires a skilled & semi-skilled labor
force; persons who have a certificate in Mechanics & Body works it also requires
persons with CSEC subject which include: Mathematics: 1-3, English: 1-3 and any
business subject. The business requires 4 skilled workers and 1 semi-skilled worker
to maintain the business daily.

The duties of the workers are as followed:

• The semi-skilled worker will assist as being a handy man to receive orders
and informing customers.

• Two of the skilled workers will assist in the necessary mechanical part of the
job in which he will he fix the customers vehicle according to how the
customer want it to be fixed.

• The other two (2) skilled workers will assist in the necessary body works job
that have to be done on the customers vehicle.
 Sources of Fixed and Working Capital

The sources of my fixed capital would have originated from my life savings and
my family inheritance, examples of these fixed capital are: land, tool-shop,
generator, compressor etc.

General T’s Mechanic and Bodywork’s shop working capital will emerge from the
raw materials, for instance money or any other item that are used up in the
everyday going of my business or the goods that are regularly been used in the
work in its often actions, example: money, vehicle, vehicle parts etc.
 Role of the Entrepreneur
General T’s Mechanics and Bodyworks shop is owned by Timothy Pahalad

An entrepreneur is a person who organizes and manages a business usually with

the considerable initiatives and risks. The role of the entrepreneur would be, to
make sure that the business duties are being performed with quality characteristics
such as being responsible, being a risk taker, being a business manager and to
elucidate problems that may have arisen etc.

Three Functions of an entrepreneur are:

• Risk Bearing, the entrepreneur speculates all possible risks of the business
which emanate due to the possibility of changes in the tastes of costumers,
modern techniques of production and new inventions, such risks are not
insurable and incalculable.

• Managerial Function, entrepreneurs also enforce a variety of managerial

functions like determination of business objectives, formulation of
production plans, product analysis and market research, recruitment of men
undertaking of business operations.

• Innovative Function, this is the basic function of an entrepreneur to

innovate new products, services, ideas and information’s for the business.
 Type of Production

General T’s Mechanic and Bodywork's shop is involved in the Tertiary

Production. Tertiary industry refers to the segment of the economy that offers
services to its consumers. This may involve a wide variety of businesses including
transport, financial institutions, schools and restaurants. Other types of industries
are primary (raw materials) and secondary (production of goods).
 Levels of Production
Production is the level of goods and services. The purpose of production is to
provide People with the goods and services that they need or want to consume.
General T’s Mechanics and Bodyworks shop is involved in a Surplus Production
Level – This is the production of goods and services at an excess amount where it
is exported or traded.

General T’s Mechanics and Bodyworks shop will be helping local & regional
people with their vehicles.
 Use of Technology
There are two types of technology involved in my business:

The compressors & Electrical tools

The Compressors: are used by skilled workers, for models sized to handle every
job, from inflating pool toys to powering tools such as nail guns, sanders, drills,
impact wrenches, staplers and spray guns. The big advantage of air power is that
each tool doesn't need its own bulky motor. Instead, a single motor on the
compressor converts the electrical energy into kinetic energy. This makes for light,
compact, easy-to-handle tools that run quietly and have fewer parts that wear out.

The Electrical tools are used by both skilled and semi-skilled workers to perform
their duties in the everyday operations.

Linkages
 Potential for Growth

General Balms Mechanics and Bodyworks shop can grow both internally and
externally.

Two ways in which it can grow internationally are;

Upgrading with new and improved compressor and tools. We can acquire more
skilled and semi-skilled workers to operate the machinery.

To expand externally we can expand new branches around the island in other areas
for instance in rural and urban areas.
 Government Regulations

General T’s Mechanics and Bodyworks shop is a huge business and its
 Ethical Issues

Communication of information in a logical way using correct grammar