Fundamental of Entrepreneurship (ETR300) : Wynas Daycare Centre/ Winnie Tiong Maurice... [et al.]

To be successful in the world of business, one must dare to venture and take risks. Our group decided to venture into the business world as a service provider, which is to set up a nursery. As more and more parents are working, the demands for someone to take care of their children are increasingly high too. Now, there are many cases of children trafficking, being abused or kidnapped and the list goes on, by their nannies or babysitters. This has caused parents to search for other alternatives and that is by sending their children to a nursery. There are many nurseries due to parents' demands. So, to make this business a real success, all aspects of running the business are necessary and they are administration, marketing, operational and financial which are the backbone of the company. The administration is responsible on all aspects of office planning, manpower planning and to draw up the administrative budget. The administration is also required to set up goals and strategies into making the realization of the company. It is the duty of the marketing section to plan and execute the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individuals and the organizational objectives. All of those items are carefully analyzed in order to gain more profit. Under operational, proper planning and management of the company's operation is to ensure that it is able to produce a quality service as demanded by customers effectively and efficiently. The financial section is responsible for the organizational capital, the trading, profit and loss, the balance sheet and the cash flow of the company. Finally, it is with sincere hope that these guidelines act as an assistant into accepting our business plan.