Please state

Index Number:

SUNDERLAND PROGRAMME
UOS Y1 Business and Financial Management
ASSESSMENT COVER SHEET / FEEDBACK FORM

Student Name & ID:

Module Name/Code:

Bairov Amal
B1400262 / 159107078/1
Center / College: MDIS

UGB 117 Contemporary Debates in

Business Management

in Tashkent

Assessment Title: Group

Due Date: 17.02.2016

Hand in Date:07.03.2015

Assignment

Learning Outcomes Assessed:

Learning
Outcomes
Assessed:

Feedback relating learning outcomes assessed and assessment criteria given to

students:
Bokhodirov Sanjar
Mirafzalov Mirfozil
Sharifullaev Khaydar

B1400922 #159107090/1
B1401300 #159105454/1
B1400749 #159102626/1

Areas for Commendation:

Areas for Improvement:

General Comments:

Assessors Signature:

Overall Mark (subject to

ratification by the assessment
board)

Moderators Signature:

Students Signature: (you must sign this declaring that it is all your own work and all sources
of information have been referenced)

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Table of Contents
Abstract
3
I) Introduction

II) Main Body

A) Progress of a group in developing the business

Leadership

Teamwork

Problem Solving 4
Decision Making
Final Result

4
4

B) Errors we have made along the way 4

Planning 4
Decision Making

C) What I have learned about the following essential aspects of the business:
Management

Human Resource
Operations

5
5

Finance 5
Marketing
III) Conclusion

6
6

IV) List of Reference7

V) Appendix 8
Income Statement for 6 months 8

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Abstract
These days it is hard to find a person who does not use a smartphone. This device has become a vital
part for all people, especially young generation. Thanks to these rapid changes in usage of mobile
phones there is a huge need for accessories, the sensor display and touch screen should be protected
well as can easily get damaged when dropped. Moreover, these mobile phone cases add original and
stylish look to the phone that shows owners taste and personality. The company Safe & Stylish
Cover is a type of small business that oriented in selling various cases and accessories for modern
smartphones. However, it is still not successful, because operates individually from a small room of
the house. Besides, there is a negative trend in terms of low profit and it is still decreasing month by
month. Despite this difficult financial situation, we must come up with a right method of solution to
flourish our company and doubtlessly increase the profit.
I) Introduction
In compliance with given task, our group which consists of me, Yuliya Khan, Bunyod Khamdamov,
Alisher Karomatullaev and Zaynura-Bonu Khabibova by woking in SimiVenture have to find out the
right way of solution for the problems, which negatively impact on further development of the
company. Along with this, we should be able to increase our profit with small amount of capital that
comprises at around 8500. On the basis of products type, we decided to give the name Safe &
Stylish Cover. Such a little amount of resource creates some difficulties to start the business,
because it should be enough to cover all expenses including buying needed products from wholesale
market to sell, to pay rent and other bills. In addition, we should make a proper advertisement and
create services to attract more customers, that itself leads to an increase in profit. Overall, we all
sought to find the areas, in which our business can achieve success.
II)Main Body:
A)Progress of a group in developing the business
Leadership
In order to achieve the desired result and to keep control of all business activities, a group or
company needs for skilled leader who can make others to work effectively. Furthermore, this persons
role is invaluable in formulating new strategic plans, as well as motivating employees to achieve
desired organizational goals. A perfect leader needs to be patient, a good communicator, outstanding
at planning strategic activities and predicting the future outcomes of work done. Taking into
consideration all these qualities, we decided to choose Alisher as our group leader. We all sure that he
is excellent in directing and doing all things right by inspiring us to work efficiently.

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Teamwork
To reach desired goals and maintain a good working atmosphere we need a well organized team. In
our case we shared many ideas which helped us to come up with right resolution for problems which
we have faced with during accomplishing the task. In addition, it taught us to support each other
while working together towards improving our company.
Problem Solving
It is impossible to avoid the problems in a business world and we should be able to make a well
thought-out plan to solve the issue by avoiding all negative consequences. The main problem of our
Safe & Stylish Cover company is a low profit and we need to form a proper strategy to resolve the
problem of increasing it during 6 moths. We gathered together in order to find out the reason of our
failure and after a long discussion it was revealed that our main problem is a high price of products
and location. So, as a solution for this problem we decide to buy from wholesalers and make some
discounts on goods. Additionally, to move a city center, this would help to attract more customers.
Decision making
This is one of the greatest skills to make effective decisions in business. Sometimes it is easy to
recognize the right decision when the rate of sales is high, but other decisions may require more
investigation work to determine whether it is right or another suitable option is much better to move
forward. In our condition we can say that the second option is more relative, because we have some
problems with profit. Thanks to this skill we have learned how to evaluate the opportunities that are
likely to bring us closer to our goal. With the help of good advertising and customer services we can
grasp huge number of consumers.
Final Result
As a result of long investigation work and discussions with group members we tried to do our best to
make a business more sustainable and gain more profit. The right solution for enlarging our company
is to buy accessories from wholesalers 150 units per month for 20 each and sell it for 30. So, for the
first month of operation our profit increased to 970 and it has continued to grow reaching more than
1000 in a 6 months. Moreover, we are planning to start shipping service which will deliver the
purchases within a small period of time. In addition, there will be special discount for regular
customers and unique cases at a lower price.
B) Errors we have made along the way
Planning
Each member of group has their personal point of view for solution of particular problem. There were
a number of ideas while we were struggling with increasing the profit. And, I think that thanks to
teamwork and brainstorming, we could choose the best approach to develop our business without

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making any mistakes. The final result met our expectations within a short period of time and it proves
once again that we have not committed any errors.
Decision making
One of the important contribution to a businesss profitability and success is it owners ability to make
a right decisions. At the very beginning of our business we have made the wrong decision in supplier
selection, as they had a high cost and it did not allowed us to fully cover our costs, as a result we had a
profit loss. However, after careful investigation work and sharing ideas with group members, we were
able to find a solution to this issue.
C) What I have learned about the following essential aspects of the business:
Management
During working on this assignment I have learned that the role of the manager is indispensable, as they
perform the most important function in the company to achieve the goal quickly by applying the right
methods of motivation, guiding employees toward objective and dividing tasks within staff according
to their qualification. It was useful experience for me to develop self-confidence in speaking to the
public, motivating people and ability to resolve conflicts.
Human Resource
HR plays the most important role in any organization. This department is responsible for training,
developing employee relations, selection of right candidates to work and monitoring the issues
connected with health care or other compensations. As I am only employee in company, I do not need
for HR, but it would help me to improve analytical skills.

Operations
It is a basic part of company which performs all activities of company starting from control of raw
materials including goal setting and functions of human resource management. Thanks to this, I know
how to schedule and control the processes of business in order to work properly. All accessories were
delivered by suppliers on scheduled time.
Finance
This part of business activities taught me how to manage funds without wasting it for unnecessary
things. Also, control the process of creating and moving of cash of company. Now I know how to
control all financial activities and in order to know the profitability of company we have compiled the
statement of profit and loss. (Figure 1)

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Marketing
Marketing is a key function to promote the product for larger audience. Its strategies of promotion,
distribution and determining the suitable price to sell the product helped me to gain more customers.
Market research work revealed that my company should make an eye catching advertisement in social
networking, decrease the price of mobile accessories as it was not affordable for some people. Finally,
to save the time of client I have started free shipping service.
III) Conclusion
To sum up, it was a great experience for me to work on such task, especially to deal with various
approaches of business. At the beginning it was not easy to raise the company, because the starting the
amount of money to start the business was not enough to open larger company. However, the right
usage of financial resources and proper marketing strategy lead to positive changes in the number of
buyers, which of course increased the profit. Moreover, I had a chance to work with a perfect team,
where everyone was good at decision making and problem solving. We have reached our goal through
long time of studies. Finally, if I will face with such problems in future, I will take into account others
opinions and try to build up strong team consisting of members who are good at communicating,
critical thinking and have knowledge to do the business.

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IV) List of Reference

1. Karen Farnen., The Role of an Operations Manager., Available at:

http://smallbusiness.chron.com/role-operations-manager-14234.html [Accessed on
08.03.2016]

2. Jeremy Bradley., Seven Functions of Marketing., Available at:

http://smallbusiness.chron.com/seven-functions-marketing-56980.html [Accessed on
08.03.2016]

3. Victoria Duff., Importance of Finance & Its Role Within Business., Available at:
http://smallbusiness.chron.com/importance-finance-its-role-within-business-1513.html
[Accessed on 08.03.2016]

4. David Ingram., The Importance of Leadership in Business., Available at:

http://smallbusiness.chron.com/importance-leadership-business-3117.html [Accessed on
08.03.2016]
5. Nicole Fallon., 5 Common Money Mistakes Small Businesses Make., Available at:
http://www.businessnewsdaily.com/6325-small-business-financial-mistakes.html [Accessed on
08.03.2016]

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V) Appendix
Income Statement of Safe & Stylish Cover for 6 moths
Sales
Less Cost of
Goods
Stock
Purchases
Closing
Inventory
Gross Profit
Less Expenses
Advertising
Electricity
Telephone Bills
Packaging
General
Expenses
Tax
Overall
Net Profit

January February March

April
May
June
4500
6000
7500
10500
12000
15000

3000

4000

5000

7000

8000

10000

1500

2000

2500

3500

4000

5000

80
50
35
45

100
60
40
60

100
60
50
75

120
75
50
105

140
75
60
120

150
80
60
150

50
270
530
970

50
360
670
1330

50
450
785
1715

55
630
1035
2465

70
720
1185
2815

100
900
1440
3560

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