Assignment For the "Small Business" Program of Sylhet International University (SIU)

Assignment For the "Small Business" Program of  Sylhet International University (SIU) 

All of our Group Member 

With Shamima Madam

Starting point:

As entrepreneur we think to make something or create something individually. So, before being entrepreneur we think we should perform to a small business. And finally we make a plane for small business to be prepared. The main component and theme of our small business was preparing to be an entrepreneur. We also think and seem that the success of our entrepreneurship is based on the success of small business.  

Shop name:

The name of our shop is “SOBUJ BANGLA” this is an Bengali sentence which is selected as our small business organization.

Reasons for taking this:

We select this name on the base of our Culture, History and location. Because we want to adjust our culture, location and History with our small business organization. And all of the products of our small business were also these concepts based. And one of these proofs is our banner. Follow this-

Products choose:

Firstly we have to say that, all of our products were History, Culture and Location based which will be attractive for our business. And our selected product is given billow-

Foods	Cloths	Drinks
1.     Shingara	Shirt	Tiger
2.     Somocha	T-Shirt	Speed
3.     Beguni	Pent	Coffee
4.     Chop	Top	Funta
5.     Pathisapta	Cap	Sprite
6.     Chana monjury
7.     Yogurt
8.     Chotpoti
9.     Ice-cream

Pricing:

Pricing is the process of determining what a company will receive in exchange for its product or service. Pricing factors are manufacturing cost, market place, competition, market condition, brand, and quality of product. Pricing is also a key variable in microeconomic price allocation theory. 

After maintaining all the expenses we leveled our product price and we seem that we are one who sale their product at too much lowest price.

Source of fund:

The source of our funds individually from everybody’s family. For operating such a small business organization no need of so much investment to run. For our family it is possible to serve this lowest investment for such a small business.     

Decoration and Maintenance:

The decoration of our shop/stool was wonderful. We’ve decorated the shop by previous planning. And we have been thinking too much to decorate the shop. The main reason of this decoration is this is one kind of motivation by which one be can satisfied.   

The maintenance process was very powerful of our small by which decoration and maintenance has been completed successfully and our customer also satisfied to our maintenance and decoration.

Target customer:

Our target customer was the people who are loved by Country, History, Culture and location. As the name of our shop is “SOBUJ BANGLA” it must likely be proved. And most of our customer was of young generation. This was our strength and opportunity both.

Salesmanship:

In our experience, we are convinced that techniques and methods of sales are teachable to anyone who has the desire to learn. However there are natural skills that are of great benefit if they already exist within those that want to be successful in sales. Without these, success will take a longer time those but t can still be achieved. If there is no desire and dedication to learning or developing these skills, then the selling will be much more difficult and often very stressful.

To be successful seller we have all the skills of salesmanship. We have been successful to our selling vision. And we seem in future we will be a successful entrepreneur.     

Promotion:

We have been promoted to our business. For three days business, we had been sold TK. 942/= first day, TK. 3366/= second day and TK.6614/= third day. By this it has been proved that, there has been promotion to our business. And it is the real statistical counting, for this the amount is so lowest.

Maintaining Accounting:

The maintenance of our accounting was very good. If someone views our accounting process he/she must thanked us.  

All of these accounting documents are given bellow-----

Inventory management: 

The objective  of inventory management is to provide uninterrupted production, sales , and/or service levels at the minimum cost. Since for many companies inventory is the largest item in the current asset category, inventory problems can and do contribute to losses or even business. Also called inventory control. See also inventory.

And we haven’t beyond these concepts to our inventory management. Our management process was a perfect management process, which is really acceptable to a business organization-we seem.  

Accounting Information System - AIS

DEFINITION OF 'ACCOUNTING INFORMATION SYSTEM - AIS'

The collection, storage and processing of financial and accounting data that is used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting statistical reports can be used internally by management or externally by other interested parties including investors, creditors and tax authorities.

INVESTOPEDIA EXPLAINS 'ACCOUNTING INFORMATION SYSTEM - AIS'

An accounting information systems that combines traditional accounting practices such as the Generally Accepted Accounting Principles (GAAP) with modern information technology resources. Six elements compose the typical accounting information system:

• People - the system users. 
  
  
  
  
• Procedure and Instructions - methods for retrieving and processing data.
  
  
  
  
• Data - information pertinent to the organization's business practices. 
  
  
• Software - computer programs used to process data. 
  
  
• Information Technology Infrastructure - hardware used to operate the system.
  
  
  
  
• Internal Controls - security measures to protect sensitive data.

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STORY OF LIFE  

Importance Of Business Research

Business research programs are an increasingly popular way for companies to train and educate their managers and other employees in a vast array of different fields. Business research education can pertain to economics, business strategy and ethics, in fact, anything related to modern business and trade. In a corporate world that is seemingly more cutthroat than ever, company executives must consider whether their staff members can really fulfill their jobs effectively without specialist education. 

Having a well educated and informed staff means that operations will run that more smoothly. For instance, some business research programmers delve into the theories behind people management. This can be seen as one of the most important educational tools for companies. If senior managers are all officially educated and certified in the field of management they will be able to drive a workforce on using effective motivational techniques. 

Management is not the only field covered by business research programmed however. One of the most popular forms of education covers information on accounting. While specialist accountants are an available resource, by training staff members to understand accounting functions, it is possible for a company to build its knowledge base in the field, streamlining process and overall improving the efficiency of operations. Understandably, by improving the efficiency of a company, profitability is increased, meaning that the financial outlay for education is ultimately worthwhile. 

Another field covered by the umbrella term of business research is international business. For company directors who are on the brink of enlarging their operations beyond their national boundaries sending staff on courses relating to this field is highly advisable. International trade has different theories and strategies relating to it and hence by building a bank of knowledge on the subject means that it is possible for companies to find that edge over the global competition. 

As information technology becomes an increasingly large part of business, education modules in this field have also grown. Information technology can relate to using software in management, accounting or even invoicing but as the use of the internet and online trade grows, educating staff in the ways to take advantage of this new media is an advisable course of action. 

Another field in business research is sales and sales techniques. This is especially important for many companies as sales are the way of securing new income. Naturally sales techniques will differ depending upon the services or products being sold but there are certain general rules that should be followed. By having a well trained and informed sales team, they will be able to bring more trade, and hence improve the portfolio and profits of the company. As an adjunct to sales is marketing education, this is especially important in many industries as having a well presented product or service can reap many benefits. Thankfully education will result in employees having the knowledge to produce a brand image that is desirable, dynamic and above all attractive to customers. 

In a modern world where business research is a key part of any development plan there are a large number of educational institutions arising to meet these demands. For any company director, making the realisation that a well trained and educated workforce is an asset in its own right is an important step. Once this realisation has been made it will be possible to train staff members and acquire an employee base that is up to date with developments in the business world. Having the knowledge of how to take advantage of these developments and remain at the cutting edge of any industry sector is naturally an essential part of any strategy.

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