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English for Business Administration III

Final Project

Students:

Brandon Álvarez Núñez

Kristel Calderón Quiros

Valery Flores Barahona

Sofia Benavides Leiva

María José Palacios Calderon

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Advantages and disadvantages of each business logo.

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Organic foods & Café: I think this logo shows a good presentation, and colors match. It also shows the purpose of business clearly and shows a beet that related to organic food. The logo is clear and easy to remember. One disadvantage I can see talking about colors is that they can limit emotions in their customers and may no attract them.

Junk Jewels: In my view, a big disadvantage is the lack of originality, this makes the brand less memorable and less attractive to consumers. It also has a handwriting, which in some cases can make it difficult for customers to read the brand name. An advantage could be that shows the product that they offers.

Walk for nature: I think that this business is better than the others because it’s really clear; they use one type font, that is clear and easy to remember. The name “Walk for nature” describes what they do, that is something related to nature and the use a ladybug that helps identify the purpose of the busines.

WhyWoodWorks and Waggy Tails: I think both have a big disadvantage, that they look quite saturated, they use a lot of colors. Especially, WhyWoodWorks has a lot of text; although they imply that their business has something to do with wood, I think that the colors used are not in accordance with the theme of the business. On the other hand, Waggy Tails implies that the business is related to pets; but it has a lot of details in the logo.

Clothes Pin: In this case, I think the Clothes Pin is a bit common in cleaning brands and so on, which makes it difficult to differentiate the brand; also, although the logo doesn’t have as much text as "WhyWoodsWorks", Clothes Pin should reduce the amount of words in their logo and use only one typefont. The logo itself is minimalist.

Task A: ADVANTAGES AND DISADVANTAGES OF EACH BUSINESS.

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1.      How would you define Ethics and Equity? ​

Ethics refers to the moral principles that guide human behavior and decisions, ethics seeks to determine what actions are morally right or wrong in specific situations.

Equity refers to fairness and impartiality in the treatment of all people, ensuring that everyone has equal opportunities and access to resources. Equity seeks to eliminate unfair disparities and promote equality of outcomes.

2.      Give your point of view about how important Ethics and Equity are for your business.​

Ethics and fairness are not only important from a moral point of view, but also from a business perspective. Promoting these values ​​in all facets of the business can lead to more sustainable growth, a better reputation, and stronger relationships with customers and employees.

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1. Write the main aspects that are mentioned about the topic and the way they can be implemented in your business.

Main aspects mentioned about the topic and implementation in your business:

·         Prioritizing ethical considerations alongside profit motives.

·         Ensuring fair treatment of employees and suppliers, including paying a living wage.

·         Thoughtfully considering the impact of business decisions on various stakeholders.

·         Cultivating a company culture that values and prioritizes ethical behavior.

·         Engaging with ethical suppliers and products, and collaborating with other ethical businesses.

Implementation:

·         Establishing clear ethical guidelines and standards for conduct within the business.

·         Providing training and education on ethical decision-making to employees at all levels.

·         Encouraging open communication channels for reporting ethical concerns or violations.

·         Conducting regular ethical audits or reviews to identify and address potential issues.

·         Staying informed about industry trends, regulations, and best practices related to ethics.

2. What do you consider is the best to do when you face an unethical situation?

Best practices when facing an unethical situation:

·         Assessing the situation objectively and considering the potential consequences of various actions.

·         Consulting with colleagues or mentors for guidance and perspective.

·         Considering alternative courses of action that align with ethical principles.

·         Speaking up against unethical behavior and working towards finding a resolution.

·         Seeking support from relevant authorities or regulatory bodies if necessary.

3. How can people overcome an unethical decision?

Overcoming an unethical decision:

·         Acknowledging and taking responsibility for the unethical decision.

·         Taking corrective actions to mitigate harm caused by the decision.

·         Implementing measures to prevent similar unethical actions in the future.

·         Learning from the experience and using it as an opportunity to strengthen ethical practices within the business.

·         Fostering a culture of transparency and accountability to prevent recurrence of unethical behavior.

4. How can we become vigilant for ethical issues and be equally circumspect?

Enhancing vigilance for ethical issues:

·         Establishing clear ethical guidelines and standards for conduct within the business.

·         Providing training and education on ethical decision-making to employees at all levels.

·         Encouraging open communication channels for reporting ethical concerns or violations.

·         Conducting regular ethical audits or reviews to identify and address potential issues.

·         Staying informed about industry trends, regulations, and best practices related to ethics.

5. How can equity and ethics be improved in businesses?

Improving equity and ethics in businesses:

·         Implementing fair and inclusive hiring practices to promote diversity and equality in the workforce.

·         Ensuring equal opportunities for career advancement and professional development.

·         Addressing pay gaps and disparities in compensation to promote equity.

·         Fostering a supportive and inclusive work environment that values and respects all individuals.

·         Engaging with stakeholders, including employees, customers, and communities, to understand and address their concerns regarding equity and ethics.

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Case 1:

1. Gather Evidence: Before taking any action, I would collect evidence to substantiate my suspicions. This might involve documenting instances where I haven't seen additional money added to petty cash despite an increase being approved.

2. Report to Supervisor: Once I have gathered sufficient evidence, I would report the issue to my supervisor. I would ensure to present my concerns in a factual and objective manner, avoiding assumptions or accusations. Addressing the situation promptly is crucial to prevent further misconduct.

3. Protect Confidentiality: Throughout the process, I would maintain confidentiality to prevent unnecessary gossip or defamation. I would focus on presenting the facts and refrain from discussing the matter with other colleagues unless necessary for the investigation.

4. Cooperate with Investigation: If an investigation is initiated, I would cooperate fully and provide any relevant information or documentation. My cooperation demonstrates my commitment to upholding ethical standards and resolving the issue effectively.

5. Follow Company Policies: I would adhere to company policies and procedures regarding financial accountability and reporting misconduct. By following established protocols, I contribute to maintaining transparency and integrity within the organization.

Case 2:

1. Accept Responsibility: Even though the mistake went unnoticed by others, I would acknowledge my error and take responsibility for it. Avoiding accountability undermines trust and integrity in the workplace.

2. Learn from Mistakes: I would use the experience as an opportunity for growth and learning. I would identify the root cause of the mistake and take proactive measures to prevent its recurrence in the future. Demonstrating a commitment to self-improvement reflects positively on my character and professionalism.

3. Seek Guidance if Necessary: If I'm uncertain about how to address the mistake or its potential consequences, I would seek guidance from a mentor, supervisor, or HR representative. They can provide valuable insights and support in navigating the situation effectively.

4. Support Colleagues: I would refrain from allowing a colleague to unfairly take the blame for my mistake. If necessary, I would intervene to ensure that accountability is appropriately distributed and that individuals are not unjustly penalized.

5. Maintain Transparency: I would be transparent about the mistake with my supervisor or relevant stakeholders if necessary. Open communication fosters trust and demonstrates my commitment to ethical conduct and accountability.

In both cases, prioritizing ethical behavior is essential for fostering a culture of integrity and trust within the workplace. By taking appropriate action and upholding ethical principles, I contribute to a positive work environment and safeguard the reputation of myself and my organization.

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                                Task E: Mission, Vision and Values 

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                                Task E: Mission, Vision and Values 

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Mission:

Offer our customers a unique and sustainable shopping experience by providing high-quality bulk products and promoting an environmentally-conscious and community-minded lifestyle.

Vision:

In five years become recognized leaders in promoting sustainable business practices and waste reduction, inspiring others to adopt a more mindful and responsible approach to consumption in the GAM.

Values:

1. Sustainability: We prioritize reducing our environmental impact and promoting sustainable practices.

2. Quality: We aim to provide top-quality products sourced from ethical and sustainable suppliers.

3. Responsibility: We uphold integrity in all operations, ensuring accountability to the environment and community.

4. Transparency: We are committed to open and honest communication, providing clear information to our customers.

5. Empowerment: We empower customers to make informed decisions through our diverse product range and educational resources.

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Company Name:

Better in Bulk

Slogan:

Make it Simple!

Type of industry:

Food industry

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It is located in El Tejar de Cartago, because three of my coworkers who created the business live there, and it is also a good location because it is not so far from downtown Cartago

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We sell a wide variety of high-quality seasonings and spices that customers can carry and fill in their own containers. Our catalog includes from the most common spices such as pepper and cinnamon, to exclusive and exotic spice blends to give a unique touch to your dishes. Our products are fresh, naturally sourced, and free of additives, guaranteeing an authentic taste and an exceptional culinary experience. By purchasing our seasonings in bulk, customers can reduce packaging waste and adjust the exact amount they need, which in turn saves them money and helps the environment.

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Task F: How are you going to sell your product or provide your services?

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Task F: How are you going to sell your product or provide your services?

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To sell our products, we will use a bulk retail approach, where customers can visit our physical store and select the spices, they wish to fill in their own containers. In addition, we will also offer the option of online purchasing through our e-commerce platform, where customers will be able to select and purchase their favorite seasonings in customized quantities and have them conveniently delivered to their homes. In addition, we plan to participate in local food fairs and events to promote our products and connect directly with food lovers. Our goal is to provide convenience, quality, and a personalized shopping experience to our customers, both online and offline.

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For promoting our business, we will highlight the unique aspects of it such as sustainability, quality, cost-effectiveness in social media campaigns, utilize Instagram, Facebook, tik tok, twitter to showcase the idea of our bulk store and products, share tips on sustainability lifestyle and of course engage with our target audience to create a community. Other thing will do is content marketing such as creating blogs, videos and info graphics that educate the audience about the benefits of buying in bulk and the environmental impact of packing waste. Also, radio advertising and costumer’s referral programs.

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1. Shop Assistants / Sales Associates: These employees are responsible for providing excellent customer service, assisting customers with product selection, weighing and packaging bulk items, processing transactions, and maintaining the cleanliness and organization of the store. The number of shop assistants needed will depend on the size of your store and the anticipated volume of customers.

2. Store Manager: The store manager oversees the day-to-day operations of the store, including staffing, scheduling, inventory management, sales performance, and customer service. They are responsible for hiring, training, and supervising employees, as well as ensuring that the store is meeting its financial and operational goals.

3. Social Media Coordinator: This employee is responsible for managing the store's presence on social media platforms such as Facebook, Instagram, Twitter, and Pinterest. They create engaging content, interact with followers, respond to comments and messages, and track performance metrics to assess the effectiveness of social media campaigns. The social media coordinator may also collaborate with the marketing manager to develop and execute social media marketing strategies.

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·         Knowledge of condiments: It's important that employees are familiar with the different types of condiments, their origins, their culinary uses, and how they affect the flavor of foods.

·         Communication skills: Employees should be able to communicate effectively with customers to recommend products, explain their uses, and answer questions about ingredients and flavors.

·         Customer-oriented attitude: Customer satisfaction is paramount, so employees should have a friendly, helpful attitude and be willing to meet customers' needs.

·         Flexibility: In a dynamic business environment, employees should be able to adapt quickly to changes in market demand, culinary trends, and production requirements.

·         Health and food safety awareness: It is crucial that employees are trained in safe food handling practices and have basic knowledge of health aspects related to food to ensure the quality and safety of products.

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1. Our potential customers include a wide range of individuals who are passionate about cooking, seeking high-quality ingredients, and are environmentally conscious. This includes:

Home cooks and culinary enthusiasts who value fresh, natural ingredients to enhance their dishes.

Health-conscious consumers who prefer additives-free seasonings for their meals.

Eco-conscious individuals who are actively seeking ways to reduce packaging waste and support sustainable practices.

Professional chefs looking for premium spices and unique blends to elevate their menus.

Customers interested in exploring exotic flavors and spice combinations to add diversity to their cooking.

Families and individuals aiming to save money by purchasing spices in bulk quantities and avoiding over-packaged products.

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Task F: Startup Costs and Financial Projections

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Task F: Startup Costs and Financial Projections

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Start-up Money Needed: The start-up Costs

1. Rent for Storefront and Storage: ₡1,080,000 per month

2. Renovations and Store Setup: ₡6,000,000

3. Initial Inventory: ₡9,000,000

4. Licensing and Permits: ₡900,000

5. Marketing and Advertising: ₡3,000,000

6. Employee Salaries: ₡5,400,000

7. Miscellaneous Expenses: ₡1,800,000

Total Start-Up Costs: ₡38,340,000

First-Year Projection

To estimate the first-year income, consider the following factors:

Average Sale Price per Customer: ₡12,000

Number of Customers per Day: 30

Number of Operating Days per Year: 300

= ₡108,000,000

First-Year Expenses

1. Rent: ₡1,080,000 * 12 = ₡12,960,000

2. Employee Salaries: ₡1,800,000 * 12 = ₡21,600,000

3. Inventory Restocking (every quarter): ₡36,000,000

4. Utilities and Other Operating Expenses: ₡7,200,000

5. Marketing and Advertising: ₡3,600,000

6. Miscellaneous Expenses:= ₡3,600,000

Total First-Year Expenses: ₡84,960,000

First-Year Profit = ₡28,440,000

Five-Year Profit Projection

Assuming a conservative annual growth rate in sales of 10% and a constant expense growth of 5% annually, we can project the profits over the next five years.

Year 1:

- Income: ₡108,000,000

- Expenses: ₡79,560,000

- Profit: ₡28,440,000

Year 2:

- Income: ₡118,800,000

- Expenses:₡83,538,000

- Profit: ₡35,262,000

Year 3:

- Income: ₡130,680,000

- Expenses: ₡87,714,900

- Profit: ₡42,965,100

Year 4:

- Income: ₡143,748,000

- Expenses: ₡92,100,645

- Profit: ₡51,647,355

Year 5:

- Income: ₡158,122,800

- Expenses: ₡96,705,677

- Profit: ₡61,417,123

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Video Link:

Final English Project.mp 4