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CXC
PRINCIPLE OF BUSINESS
SCHOOL BASED ASSESMENT
NAME: Sue -Tannia Hibbert
CENTER NUMBER: 100068
SCHOOL: Manning’sSchool
TERRITORY: Jamaica
REGISTRATION NUMBER:

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TEACHER: Ms.R.Williams
Divine Jewels Production
LOGO: --
“
Divine
Jewels
Production
“giving you the best quality”

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SLOGAN: GIVINGYOU THE BEST QUALITY.
TABLE OF CONTENT
INTRODUCTION
DESCRIPTION OF BUSINESS
JUSTIFICATION OF LOCATION
SELECTION OF APPROPRIATE LABOUR
SOURCES OF FIXED AND WORKING CAPITAL
ROLE OF THE ENTRAPRENEUR
TYPE OF PRODUCTION
LEVELS OF PRODUCTION
QUALITY CONTROL MEASURES
USE OF TECHNOLOGY
LINKAGES
POTENTIAL FOR GROWTH
GOVERNMENT REGULATIONS
ETHICAL ISSUES
BIBLIOGRAPHY

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DESCRIPTION OF BUSINESS
TYPE OF BUSINESS:
Divine Jewels will be a sole proprietorship businessowned and operated
by Ms. Sue- Tannia Hibbert. It will be located at 26 and a half Railway
Lane, Ocho Rios, St. Ann
NATURE OF BUSINESS
It will be a businessconcerned with the productionofjewels such as
watches, wedding rings, earrings, bracelets, chains, and all different
types of similar jewels, made/engraved with raregemssuch as
diamonds, silver, ruby, gold e.t.c…
OBJECTIVE /MISSION STATEMENT
The businessobjectiveswill be:
1: to make a profit through thesale of jewels.
2: to createemployment by employing persons in the communitywho
are qualified/suitablefor a designated area inthe business.
3: To producequalityjewelsmade by Jamaicans, for Jamaicans, and the
world.
Mission statement:
Divine Jewels’ ultimategoalis to becomethe most sought- after jewel
productionbusinessin Jamaica, thentheRegion.

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JUSTIFICATION OF LOCATION
STATE LOCATION
Divine Jewels will be located at 26 and a half RailwayLane, Ocho Rios,
St. Ann
THREE (3) REASONS TO JUSTIFY LOCATION
 There will be more opportunitiesavailabletothe businessfor an
increasein the amount of people who will becomecustomersand
loyal supportersof the business.
 Land space: there will be availabilityofsufficient land for this
prospectivebusinessat an economicallyviableprice. It’s location
will be suitable, in order to attract business.
 Market pull: thelocationof thisprospectivebusinesswill be
attracted tositesclose to where potentialcustomerscanbefound.

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SELECTION OF APPROPRIATE LABOR
TYPE OF LABOR NECESSARY
 Divine Jewels will be in need of skilled workers.
NUMBER OF PERSONS TO BE EMPLOYED AND THEIR DUTIES
AND FUNCTIONS
Divine Jewels will be employing 10 (ten) workers for the business. These
individualswill be employed to work in different areasof the business
which will be:
JewelryAppraisers- carefullyexaminejewelryto determineitsvalue and
writeappraisaldocuments.
Gemologists- analyze, describeand certifythe qualityand characteristics
of gemstones.

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Jewelers- design, produceand sell jewelry. Also appraise, examineand
computethecost of labor and materialfor productionpurposes.
Production Manager- supervisetheproductionand itsprocess, so that
qualityproductsareproduced. Also responsiblefor the marketing ofthe
product.
Owner- owns the business.
OUTLINE ONE REASON WHY THIS TYPE OF LABOR IS NECESSARY
 Skilled labor will be necessary, becausein order for the businessto
operateto itsfull capacity, theworkerswill be required to have a
high level of training combined with expertiseand experience.
Organizational chart for Divine Jewels

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SOURCES OF FIXED AND WORKING CAPITAL
IDENTIFY SOURCES OF FIXED CAPITAL AND GIVE EXAMPLES

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 Fixed capitalwill be sourced from theNationalCommercialBank
(NCB) in the form of a loan of 1.5 milliondollars. The securitythat
will be used to obtainthisloan will be a Land title. The money
received will be used to purchasespecialequipmentsand
machineries, such ascomputerized toolsthat will be necessary for
the productionofjewels.
IDENTIFY SOURCES OF WORKING CAPITAL AND GIVE EXAMPLES
 The working capitalwillbe sourced from the use if $500,000 from
personal savings, and a percentageofthe bankloan acquired for
fixed assets. The working capitalwillbe used for:
 The purchasing ofraw materialsfor production.
 The payment of salaries.
 Payment of utilities, such as: water and electricitybills.
ROLE OF THE ENTREPRENEUR

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DEFINE THE ROLE OF THE ENTREPRENEUR
The role of the entrepreneur is to show vision and creativity, taking the
financialriskof starting and managing a new business venture. The
entrepreneur’srole will enable him/her to direct, improveand ensure
employees are trained.
OUTLINE THREE FUNCTIONS OF THE ENTREPRENEUR
As an entrepreneur, he/she should be able to monitor and control
all theaspectsof he business from productiont0 serviceand
qualitycheck. Three functionsinclude:
 Planning- thisis the first stageof management. Theentrepreneur
of DivineJewels will responsible for setting goals, deciding on
resourcesneeded, and the timeline to meet these objectives.
 Organizing- Theentrepreneur of thisprospectivebusinesswill also
be responsiblefor bringing togetherallthe resources needed, in
order to providequalityjewels.
 Evaluating- Theentrepreneur of this prospectivebusinesswill also
be responsiblefor accessing output based onobjectivesset to
determine how well they were met, and what steps canbe takento
improveperformanceinthe future.
TYPE OF PRODUCTION

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IDENTIFY THE TYPE OF PRODUCTION
 Divine Jewels will be involved in secondary production. This
meansthat the businesswill be offering a service.
DESCRIBE THE TYPE OF PRODUCTION
 Secondaryproductionconsistsofmanufacturing and constructing
industries. Theseindustriestakeraw materials obtained bythe
primary(extractive) industryand convert them into finished
products. DivineJewels will be using both industries.
LEVELS OF PRODUCTION

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IDENTIFY THE LEVEL OF PRODUCTION
 The level of productionfor Divine Jewels will be domestic
production.
DESCRIBE THE LEVEL OF PRODUCTION
 Domestic productionmeansthat theconsumptionofgoods and
services in thebusiness is solely dependent upon what canbe produced
withinthebusiness, and will also provide a meanof employment and self
– sufficiencywhich helps to conserve the business’sforeign currency
reserve for import ofother products.

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QUALITY CONTROL MEASURES
DESCRIBE TWO QUALITY- CONTROL MEASURES THE BUSINESS
SHOULD ADHERE TO:
 Employ people who are skilled individualswith knowledge and
experienceinthe industry.
 Ensure that theproductsbeing sold are of good quality, so that
customerscanget value for their money. This would encourage
them to support the businessand becomeloyal customers.

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USE OF TECHNOLOGY
IDENTIFY TWO TYPES OF TECHNOLOGY USED
Divine Jewels will be utilizing computersasa type of technology.
Computerswill enhancethe efficiencyof the businessbecauseit
allows informationtobepresentableand easily put together.
Technology is helping to producehigh – qualityjewelryat a
reduced cost in less time. Divine Jewels will be used for cutting and
improving thequalityand appearanceofjewelry.
Divine Jewels will also be adapting thecomputer aideddesign
programming and computer aidedmanufacturing. (CAM/CAD)

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LINKAGES
STATE THE TYPE OF LINKAGE TO BE DERIVED FROM THE
BUSINESS
The linkagethat will be derived from thebusiness will be backward
linkage. This type of linkage comesabout when the demand of a
particularindustry, leadsto the formationofanother.
OUTLINE ONE BENEFIT OF THAT TYPE OF LINKAGE
One benefit of the backward linkageisthat employment
opportunitieswillbe increased asthere will be more positions
availablein the businessto be filled by citizens.

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POTENTIAL FOR GROWTH
EXPLAIN POTENTIAL FOR GROWTH INTERNALLY AND
EXTERNALLY
It is the proprietor’sexpectationthatDivineJewels will achievegreat
successin the future. Wealso intend to employ more persons and
purchasemoremachineryand office equipment. Weexpect thework
force to be increased by30% in the next 2-3 years; which will contribute
to growth internally.
For externalgrowth, we intend to make our companywell known over
seas and the rest of the Caribbeanbyforming multinationalcompanies.
It is also expected that therewill be a great infrastructuralexpansion
withinthenext 2-4 years.

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GOVERNMENT REGULATIONS
IDENTIFY GOVERNMENT REGULATIONS THAT IMPACT ON THE
BUSINESS
0 2 4 6 8 10 12 14 16 18
Year 1
Year 2
Year 3
Year 4

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The regulatory practices governing the established of businesses
refers to the rules and regulations by which persons who wish to
establish a businessshould be guided. Divine Jewels will have to be
duly registered with the Registrar of Companies before business
operations can commence. A certificate of registration will be
issued to thecompany and must be appropriately displayed in the
place of the business.
Divine Jewels will be in need of two things:
 Copyright License – This is theexclusive right topublish or
record a work. If a companypublishesanother company’swork
without permission, theowner could be charged for copyright
infringement or plagiarism.
 CertificateofRegistration –This shows that the companyis
operating legallyand the entrepreneur will not be fined or
imprisoned for illegal operations. Thisalso preventsterminationof
the business.
ETHICAL ISSUES

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DISCUSS ONE ETHICAL ISSUE RELATING TO PRODUCTION AND HOW
IT IMPACTS ON THE BUSINESS
Ethicalissues which arerelated to productioninthe business are
transactionsbetweentheorganizationsand theenvironment that leads
to pollution, globalwarming, increaseinwater toxicityand diminishing
naturalresources. Observing laws that prevent pollution in any form
will affect the business in a positiveway as it helps the business to stayin
line with how we deal with our waste. The way in which the business
disposes of waste could cause pollutionand global warming, which is
harmfulto our environment.

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BIBLIOGRAPHY
Caribexams.org
https:// collegegrad.com/careers/jewelers-and-precious-stone-and-
metal-workers
CXC Principlesof Business with SBA, StudyGuideand Exercises
(Robinson Karlene and Sybile Hamil)

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INTRODUCTION
Inside thisS.B.A, you will see the entrepreneur’splans and objectivesfor
her prospectivebusiness - Divine Jewels. You will also find information
on thedescriptionof the business, its location, how capitalwillbe
obtained, roles and functionsof the entrepreneur, and other necessities
required for thebusiness to commenceoperation. Thisproject willhelp
others who read it by allowing them to know the necessarysteps they
should take, if they areinterested in becoming anentrepreneur.