Case Study:
Hard Wood Coals Jim Jam had been a career policeman for the past 25 years having joined the Police Force immediately upon leaving High School. Last March decided that it was time for him to retire and put in his claim for his pension and gratuity. Still very young at 43 years old, Jim Jam decided that he wanted to try his hand at something else, but his difficulty was that he had been a policeman all his life and had no other skills or work experience. In fact the only thing that can perhaps count as work experience was when he accompanied his father to the “coal kiln” when he was a little boy and there he would shovel coal into the bags his father brought along. After exploring all of his options for employment, including security work at an offshore medical School, Jim Jam decided that he will consider starting a small business in the tourist sector but was unsure as to exactly what he will do. One Friday afternoon he ventured into the capital city and was surprised by the large number of Bar BQ grills that lined the streets. His pastime as a young boy, helping his father, suddenly came back to mind as he noticed the large amount of coal that was being used to keep the grill fires burning. Asking around Jim Jam realised that coals was also in great demand, not only for the BBQ grills, but also at the beach bars and many of the tourist restaurants that catered to providing the visitors with an authentic eating Caribbean experience. After much thought he decided, like many others in a similar situation, to go into business producing coals for use in the many grills that operated on the island. Recognising his lack of business experience and knowledge, Jim Jam enrolled in the UWIOC Management Studies program and after studying for two semesters Jim Jam was determined to make a go of it. Business for him was slow at first because of the large number of persons who produced coals, however when the customers realised that the coal that Jim jam provided was of a very high quality and did not burn out quickly, his customers increased as word spread. As a complimentary service Jim Jam also trimmed shrubs, cut down trees and agreed with homeowners to remove their down trees for free, the wood from these trees were also used in his coal production business. Business was good and Jim Jam looked forward to building up a good base of customers and providing a high quality coals.
Question 1.
Raise discussion points on the following areas:
* The quality of her services
* Forecasting methods, inventory management, scheduling and maintenance
* Necessity of forecasting
* Inventory decision he has to make periodically
* How is scheduling important
* The importance of quality assurance in the coal business
* The trade-offs of a permanent job vs your own business. What are the risks?
* Can Jim Jam expand his business and if so how?
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.