Bus Assignment
Content
1.Business profile: N.H. Telecom and stationary is a super store business provider. It’s a sole proprietorship business of the owner. Products: The main products are daily necessary goods such as rice, pulse, flour etc. Another important site is stationary goods like pencil, pen, notebook etc. N.H. Telecom and Stationary also provides mobile top up services and mobile phone accessories. For getting some extra benefits than other competitors they provide laundry services like washing and ironing cloths. Location: The shop is just beside Badda Link road, Gulshan-1. This location is an extra benefit for the business as they selected a place which is nearby the main road. Profile of the owner: Name: Mohammad Nazmul Hussain Age: 32 Father`s name: Late Tazul Islam Mother`s name: Wahida Begum Nationality: Banhladeshi (by birth)
Education: M.Sc. (Political Science) in 2005 from Titumir college.
B.Sc (Political Science) in 2003 from Titumir college. Present Address: Ja-80, Bir Uttam AK khandakar Sharok, Middle Bdda link road, Gulshan-1, Dhaka.
Permanent address: Village-Deora, P.O.-Deora west, Upazilla-Saraile, District: B.
Baria.
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2.Formation: How it formed: In 2003 it was only a mobile accessory shop. After 2007 it was formed into current shape. Md. Nazmul hossain formed it maintaining with the legal formalities. Legal formalities: Firstly, the business registered its name. Then it applied for trade license. Finally the business started after getting the trade license. History of behind starting: After completing Intermediate study Md, Nazmul Hossain joined into a government job. He saved money from his salary to use that in a business. In 2003 he started a small business. At that time he only sold mobile phone accessories in a small shop. Profit was coming and he left his job in 2006 and thought of to start the business in a large scale. From 2006 to 2007 he expanded his business including stationary goods and also started providing dry cleaning and ironing services.
3.Activities: Purchasing: N.H. telecom purchase products from wholesalers and distributors. Most of their products come from the distributor of Pran and Square. They got their top up credits from the dealers of Grameenphone, Airtel, Banglalink, Teletalk.
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Selling: After purchasing from suppliers their main job is to sell products to consumers.
Dry cleaning: Another important activity is dry cleaning and ironing cloths.
E-top up: Mobile Phone balance top up to the users of different operators.
Promoting activities: The business does some promoting activities such as hanging signboards and banners of different products and good relationship building with consumers.
4.Buyer, seller and competitors: Buyers: People surrounding the shop are the main customers of the business. Sometimes tired passersby hold on for a minute to buy soft drinks. Nearby people clean their clothes and iron them from here. Sellers: Wholesalers and distributors of different products are the sellers for the business as for example Pran, Nestle, Uniliver, Square, Maria Bread etc. Competitors: Nearby departmental stores. “Shipa Departmental Store”, “Arman Fast Food” are their major Competitors.
5.Advantages and disadvantages: Advantages:
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Ease of starting: The business didn’t need so many legal formalities to start such as incorporation, Register to Tax, making company seals. It only needed to registration and trade license.
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Freedom in decision making: Owner of the business doesn’t face any interference from outside. He enjoys a lot of freedom to do whatever he likes and in decision making.
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Sole participation in profit and losses: The owner is not accountable to any other for profit or loss such as partnership business. He can enjoy all of the profit himself.
-
Using owner`s own ability: The owner can use all of his knowledge into the business. He can experiment whenever he wants.
-
No business tax: It doesn’t need to pay any taxes to the government for the business. It’s a extra benefit for the sole proprietor business.
-
Keeping business secrets into his own: The owner is not bound to tell his business secrets to anybody. So his business polices kept secret to himself.
-
Ease of closing: He can close down his business whenever he wants.
Disadvantages:
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Limitation of capital: Capital is limited in such kind of business because it’s not possible to arrange a huge capital at a time for a single person.
-
Unlimited liability: Liability is huge in sole proprietorship because only the owner has to take all the liabilities as managing, directing, planning, organizing and many more.
4
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Limited managerial ability: Ability for management is limited because owner Md. Nazmul Hossain has to manage everything in one hand and with his own knowledge. So no specialist for different sections who can consult him and take responsibilities.
-
Time spending: The business is very much time spending for the owner. He has to spend almost all the time of the day in his shop because he is the only responsible person here.
-
Lack of stability: There is no stability of profit in the business because sometimes sales fall and sometimes it increased. It’s always unstable.
-
Difficult to hire reliable and skilled employees: It’s too much difficult to hire reliable and skilled employees.
-
Bad debt: Bad debt is a big threat to the business. Sometimes people who purchased products on account don’t pay in time or sometimes they don’t pay. So business faces lack of capital and insufficient balance for purchasing supply.
6.Management: Manager: As it’s a general store business there is no managerial hierarchy here. The owner plays all of the roles as an owner manager. He is the man who takes all of the responsibilities. So Md. Nazmul Hossain is the manager of the business who covers all the areas of the managerial hierarchy. Operating employees:
i)
Mr. Mamun is one of the operating employees who assists Md. Nazmul Hossain in serving products to customers.
4
ii)
Mr. Zaman is another one who operates the dry cleaning and ironing site.
7.Promotion: The business does some promoting activities as follows: Cocacola advertise through N.H. telecom by signboard. Cocacola also sponsored refrigerator to the business. The business hanged different banners such as flexiload from Grameenphone, eZZe load from Airtel etc. Providing products to consumers on account is another kind of promoting activity of the shop. It helps to build a good relationship with consumers.
8.Finance and accounting: Finance management of the business: Md. Nazmul Hossain, owner of N.H. Telecom was a government employee before starting his business. He saved money from his salary for business purpose. By that saving money and from the financial help of his sister he managed his finance for the business. Loan facility: The owner of N.H. Telecom didn’t take any bank loan to start the business but he took loan from her relatives and sister. Capital: Furniture, fridge, mobile phones, iron machine, rented place, and some cash was his main capital for the business.
4
Recording process of daily transactions: There is no specific method of recording process for daily transaction in the business. It only record their sales and purchasing balance in a week. With this process they come to know whether the business is making profit or loss. They only record on accounts on a notebook for each customer.
4
Education: M.Sc. (Political Science) in 2005 from Titumir college.
B.Sc (Political Science) in 2003 from Titumir college. Present Address: Ja-80, Bir Uttam AK khandakar Sharok, Middle Bdda link road, Gulshan-1, Dhaka.
Permanent address: Village-Deora, P.O.-Deora west, Upazilla-Saraile, District: B.
Baria.
4
2.Formation: How it formed: In 2003 it was only a mobile accessory shop. After 2007 it was formed into current shape. Md. Nazmul hossain formed it maintaining with the legal formalities. Legal formalities: Firstly, the business registered its name. Then it applied for trade license. Finally the business started after getting the trade license. History of behind starting: After completing Intermediate study Md, Nazmul Hossain joined into a government job. He saved money from his salary to use that in a business. In 2003 he started a small business. At that time he only sold mobile phone accessories in a small shop. Profit was coming and he left his job in 2006 and thought of to start the business in a large scale. From 2006 to 2007 he expanded his business including stationary goods and also started providing dry cleaning and ironing services.
3.Activities: Purchasing: N.H. telecom purchase products from wholesalers and distributors. Most of their products come from the distributor of Pran and Square. They got their top up credits from the dealers of Grameenphone, Airtel, Banglalink, Teletalk.
4
Selling: After purchasing from suppliers their main job is to sell products to consumers.
Dry cleaning: Another important activity is dry cleaning and ironing cloths.
E-top up: Mobile Phone balance top up to the users of different operators.
Promoting activities: The business does some promoting activities such as hanging signboards and banners of different products and good relationship building with consumers.
4.Buyer, seller and competitors: Buyers: People surrounding the shop are the main customers of the business. Sometimes tired passersby hold on for a minute to buy soft drinks. Nearby people clean their clothes and iron them from here. Sellers: Wholesalers and distributors of different products are the sellers for the business as for example Pran, Nestle, Uniliver, Square, Maria Bread etc. Competitors: Nearby departmental stores. “Shipa Departmental Store”, “Arman Fast Food” are their major Competitors.
5.Advantages and disadvantages: Advantages:
4
-
Ease of starting: The business didn’t need so many legal formalities to start such as incorporation, Register to Tax, making company seals. It only needed to registration and trade license.
-
Freedom in decision making: Owner of the business doesn’t face any interference from outside. He enjoys a lot of freedom to do whatever he likes and in decision making.
-
Sole participation in profit and losses: The owner is not accountable to any other for profit or loss such as partnership business. He can enjoy all of the profit himself.
-
Using owner`s own ability: The owner can use all of his knowledge into the business. He can experiment whenever he wants.
-
No business tax: It doesn’t need to pay any taxes to the government for the business. It’s a extra benefit for the sole proprietor business.
-
Keeping business secrets into his own: The owner is not bound to tell his business secrets to anybody. So his business polices kept secret to himself.
-
Ease of closing: He can close down his business whenever he wants.
Disadvantages:
-
Limitation of capital: Capital is limited in such kind of business because it’s not possible to arrange a huge capital at a time for a single person.
-
Unlimited liability: Liability is huge in sole proprietorship because only the owner has to take all the liabilities as managing, directing, planning, organizing and many more.
4
-
Limited managerial ability: Ability for management is limited because owner Md. Nazmul Hossain has to manage everything in one hand and with his own knowledge. So no specialist for different sections who can consult him and take responsibilities.
-
Time spending: The business is very much time spending for the owner. He has to spend almost all the time of the day in his shop because he is the only responsible person here.
-
Lack of stability: There is no stability of profit in the business because sometimes sales fall and sometimes it increased. It’s always unstable.
-
Difficult to hire reliable and skilled employees: It’s too much difficult to hire reliable and skilled employees.
-
Bad debt: Bad debt is a big threat to the business. Sometimes people who purchased products on account don’t pay in time or sometimes they don’t pay. So business faces lack of capital and insufficient balance for purchasing supply.
6.Management: Manager: As it’s a general store business there is no managerial hierarchy here. The owner plays all of the roles as an owner manager. He is the man who takes all of the responsibilities. So Md. Nazmul Hossain is the manager of the business who covers all the areas of the managerial hierarchy. Operating employees:
i)
Mr. Mamun is one of the operating employees who assists Md. Nazmul Hossain in serving products to customers.
4
ii)
Mr. Zaman is another one who operates the dry cleaning and ironing site.
7.Promotion: The business does some promoting activities as follows: Cocacola advertise through N.H. telecom by signboard. Cocacola also sponsored refrigerator to the business. The business hanged different banners such as flexiload from Grameenphone, eZZe load from Airtel etc. Providing products to consumers on account is another kind of promoting activity of the shop. It helps to build a good relationship with consumers.
8.Finance and accounting: Finance management of the business: Md. Nazmul Hossain, owner of N.H. Telecom was a government employee before starting his business. He saved money from his salary for business purpose. By that saving money and from the financial help of his sister he managed his finance for the business. Loan facility: The owner of N.H. Telecom didn’t take any bank loan to start the business but he took loan from her relatives and sister. Capital: Furniture, fridge, mobile phones, iron machine, rented place, and some cash was his main capital for the business.
4
Recording process of daily transactions: There is no specific method of recording process for daily transaction in the business. It only record their sales and purchasing balance in a week. With this process they come to know whether the business is making profit or loss. They only record on accounts on a notebook for each customer.
4
