Assignment 1: You Are An Entrepreneur!
ACC 557: Financial Accounting
I plan to open a workshop with complete sets of all models of furniture. The workshop location will be near the town. It will be under the town management committee. I will start with a single shop and later on open several branches. I will concentrate on sofa sets, chairs, wardrobes, beds, school materials, offices desks and chairs, coffins, tables, dining tables, pool tables, and doors. It will also be selling billiard tables, chess tables, changing tables, dressing mirror apartment, drawing board, Davenport desks, cabinets, room dividers, TV cart, sideboards, wall units, shelves, entertainment units, Arbor and the garden furniture.
The workshop will make all these products. Selling will take place at a display shop in town. Transportation will be by use of personal trucks and Lorries to minimize outward carriage costs. The display shop is located in the Central Business District. This will reduce the distance covered by the vehicles hence reducing a cost of fuel. The drivers will also be the carpenters. This will reduce idle workers who just wait for delivery. The trucks and Lorries will be increased with increase in some orders.
Many carpenters will do the works. I will employ only the qualified personnel who will ensure quality products. There will be staff training to ensure there is time delivery once orders are. Care will be taken when choosing and hiring of employees. This will ensure that customer gets a timely delivery of their orders. This will increase the confidence of the customers. There will be staff promotions twice a year. This will increase the quality of furniture since carpenters will be doing their best to attain a promotion. Staff remuneration will adopt the piece-rate approach. This will make the staff work more to increase their earning. Payment will on...