Task 1
Reported to: Mrs. Guruwo
Reported by: Nthabiseng Thari
Title: Identifying the coursework project
1.0 Introduction
We are an enterprise group led by Audney and Nthabiseng, with a target of
starting a business enterprise. We had brainstormed a bunch of ideas on which
businesses to start, which had taken us approximately 1 week. We had brought all
our ideas together to locate and list down the 2 best business enterprise to start,
with that we had selected “Wall poster decorations” and “lip gloss production”
and had set out 30 questionnaires to a variety of students in our school.
2.0 Evaluation
The results were that 17 of 29 which was 58% of our respondents had chosen
“Wall poster decoration,” as shown in the pie chart below.
while 12 of 29 which was 41% of our respondents had chosen “Lip Gloss." We
have agreed to start the enterprise of “Wall poster decoration,” as in the pie chart
below.
but we strongly believe that the Lip Gloss enterprise could bring us the same
profits as Wall poster decorations.
2.1 Option 1: Wall poster Decorations
When we had thought of the idea Wall poster decorations, we had seen it as an
idea which could bring a lot to our enterprise project as we had the required
resources to carry out this enterprise project, which are knowledge, skills and the
material required to produce the wall poster.
2.1.1 Research Findings
Below will be the questions answered by our respondents.
1.Are you a fan of decorating your walls?
Fourteen of our respondents had chosen yes which was 82.4% of them while 3 of
our respondents had chosen no, which was 17.6%
2.What type of wall posters would you prefer?
Seven of our respondents had chosen Album, which was 41.2% of them, 4 had
chosen others which, was 23.5% of them, 3 of them had chosen personal pictures
which was 17.6% while 3 had chosen favorite artist which was 17.6%
3.Have you gotten your walls decorated and if yes, what would you suggest
improving the service and the service you used to decorate your walls
4.How long would you like your wall posters to last when installed on your wall
2.1.2 PEST and SWOT
PEST
Political Factors- There aren’t
complications with running this
project. It is very easy, simple and
convenient enterprise project to
implement
Economic Factors- Wall poster
decorations will bring us great profits.
As we offer to create all types of wall
posters wanted by our target market.
As well as our services could help us
make a profit.
Social Factors- This is a very
challenging but worth the risk-taking
chance to learn something new. We
can advertise well using social media
such as Instagram, WhatsApp and
Facebook. This will increase our target
market
Technological Factors- Marketing is
very easy for us as our target market is
familiar with technology. We would be
able to communicate with our
customers easily without the struggle
of having to meet up at a specific time
or location. They would be able to give
us feedback.
SWOT
Strengths- We think that our project is
safe and does not have any
competition because this is not a
project done by most people. We do
not have to employe anyone as we are
the only people with the skills and
knowledge to do such in our area.
Weakness- Time needed to go setup
the wall posters for our customers as it
would be difficult to attend our
customers as we have to balance our
school and social life with our wall
poster project.
Opportunities- We could be able to
make a business out of our wall poster
decoration enterprise project. We
might decide to continue carrying out
the project at a larger scale and hire
part-time employees if our profits are
able to support the business.
Threats- Customers may not be
satisfied with how we display our wall
poster decorations. This means we
must satisfy our customers “needs and
wants,” by ensuring we produce high
end eye-catching wall posters.
2.1.3 Advantages and Disadvantages
Advantages
-We do not have as much competition as people in our field as they aren’t many
enterprises in our area/school that have the same project as us.
-My partner and I specialize in this specific field as we know how to insert the wall
poster as we have experience doing this.
-We have the material needed to make the wall posters such a printer to printer
the pictures needed by our customers.
Disadvantages
-We do not have the time to run our business as we would be juggling the time
we spend at school and our personal lives
2.1.4 Evaluate comment.
We have decided to offer all options to our wallposter decoration enterprise since
it creates a wider range of options for our customers to chose when they buy or
use our services. The enterprise project will be our main project since we have the
skills and knowledge to produce the wall posters as well as the materials need ed
to make them.
2.2 Option 2: Lip Gloss
Lip gloss is our second option of our enterprise project since we believe it could
bring a lot of profit to the enterprise and that it is easier to maintain as an
enterprise. We say this because there are not many lip gloss enterprises to
compete against, giving my enterprise an advantage of not having a large amount
of competition.
2.2.1 Research findings
Below will be the questions answered by our respondents.
1.Are you a person who enjoys keeping their lips moisturized
A 100% of our respondents had said yes which was 12 of them.
2. How would you like your lip moisturizer
66.7% of our respondents had chosen fruity flavors while 33.3%had chosen colors
and flavors while having names as the logo had no votes.
3.At what location would you like to buy our products
2.1.2 PEST and SWOT
PEST
Political Factors- There aren’t
complications with running this
project. It is very easy, simple and
convenient enterprise project to
implement
Economic Factors- Lip Gloss
production will bring us great profits.
As we offer to create all types of Lip
glosses wanted by our target market.
As well as our products could help us
make a profit.
Social Factors- This is a very
challenging but worth the risk-taking
chance to learn something new. We
can advertise well using social media
such as Instagram, WhatsApp and
Facebook. This will increase our target
market
Technological Factors- Marketing is
very easy for us as our target market is
familiar with technology. We would be
able to communicate with our
customers easily without the struggle
of having to meet up at a specific time
or location. They would be able to give
us feedback.
SWOT
Strengths- We think that our project is
safe and does not have any
competition because this is not a
project done by most people. We do
not have to employe anyone as we are
the only people with the skills and
knowledge to do such in our area.
Weakness- Time needed to produce
our lip gloss products for our
customers as it would be difficult to
attend our customers as we must
balance our school and social life with
our wall poster project.
Opportunities- We could be able to
make a business out of our Lip gloss
production enterprise project. We
might decide to continue carrying out
the project at a larger scale and hire
part-time employees if our profits are
able to support the business.
Threats- Customers may not be
satisfied with how our lip gloss
products contain or look. This means
we must satisfy our customers “needs
and wants,” by ensuring we produce
high-quality end eye-catching wall
posters.
2.1.3 Advantages and Disadvantages
Advantages
-We have the equipment and products needed to produce our lip gloss products
for our customers
Disadvantages
-We do not have the time to run our business as we would be juggling the time
we spend at school and our personal lives
-We do not have the knowledge and skills needed to produce our lip gloss
products now
-There is high competition in our area of enterprise making it difficult to sell our
lip gloss products
2.2.4 Evaluation of comment
We have decided to offer a range of fruity flavors as well as allowing our
customers to choose or customize their lip gloss flavor and color. The lip gloss
idea is our second options since it had fewer voted than the wall poster
decorations when we had handed out our questionnaire.
Conclusion
We have decided to select Wall poster decorations because the benefits of this
enterprise are higher than of our Lip gloss production enterprise. We have more
experience in wall poster decorations than lip gloss as we are have the skills,
knowledge and materials to implement the enterprise project.
Appendices