Professional Skills for Business and Finance Written Assessment
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Added on 2023/06/17
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This written assessment covers the outline of the product or service idea, statistical data to back up the idea, why the idea is investable, what the investment would be used, and conclusion/summary. It also includes references.
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Professional Skills for Business and Finance
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Table of Content Introduction Outline of the product or service idea Statistical data to back up the idea Why the idea is investable, What the investment would be used Conclusion/Summary Reference
Introduction Business refers to an organisation which engage in different commercial, professional as well as industrial activities. Business can consist different activities and require a products and service in order to earn profit.
Outline of the product or service idea Product that has been taken is Good Night Cafe which is providing their services to couples. Good Night Cafe is also adopting different technologies in their organisation as like digital payment options in order to enhance satisfaction of customers and for convenience of customers.
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Continue… They are taking payment from different method like credit card, debit card, paytm and other options. Managers of company is also providing online order system in their customers can order food from their phone.
Statistical data to back up the idea Good Night Cafe is using different resources in their cafe which provide them different opportunity to attract customers to their cafe.
Continue… ParticularsAmount ( In £) Furniture3500 Labours1750 Raw Material3000 Consumable goods2500 Salary2500 Advertisement700 Machinery1250 Total15200
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Why the idea is investable Good night Cafe idea is investible for a person due to various reason which are mentioned below: Business plan Summery: Good Night Cafe is providing solution to problems of couples as these people does not get an environment where they can talk peacefully.
Continue… Return on investment: Good Night Cafe is providing good return on investment to owner of business as it does not require much investment and provide good returns. It is providing good environment for couples of different age which helps them to get success in market.
What investment to be used Good Night Cafe is investing their funds on different activities. For this, managers of company need to prepare a budget which allow them to allocate funds on different activities and estimate cost and profit of company.
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Continue… Particulars202120222023 Receipts Selling of services36000160000153000 Online bookings240009700098000 Advances from clients190005000048000 Further developments210005500049000 Total receipts100000362000348000 Payments Salaries to staff120005200053000 Advertisement45002250026000 Rent of building55002700029600 Machines150005800060000 Cost of material250007000078000 Total payments62000229500246600 Cash at the end38000132500101400
Conclusion From above mentioned project report, it can be concluded that business consist different activities which allow them to earn profit. Business can earn profit by selling products and service to tier customers.
Reference Khalifa, B., 2018. Research Skills for Business Researchers. InModernizing the Academic Teaching and Research Environment(pp. 161-174). Springer, Cham. Asonitou, S. and Kottara, C., 2019. Sustainable development of skills for the tourism sector and its financial impact. InStrategic Innovative Marketing and Tourism(pp.1121-1129).Springer,Cham. England, L., 2020.Crafting professionals in UK higher education: Craft work logics and skills for professional practice(Doctoral dissertation, King's College
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