Premium Essay

Bsbfim501A

In: Business and Management

Submitted By kafmms
Words 5473
Pages 22
Scenario: Joseph’s Hamburger Stall
Joseph is a full time student studying for a Bachelor of Commerce at Griffith University. He is looking forward to a career in business and is prepared to invest three years in gaining the knowledge, skills and qualifications he will need to fast track his career.
But Joseph needs to find a way to make some extra money on weekends to support his way through university. Joseph is considering whether he might establish a small mobile hamburger stall which he take to various places, markets and events, wherever crowds of hungry people are likely to be gathering and sell hamburgers.
To set up his hamburger business, Joseph will have to borrow $10,000 to have a custom-made mobile hamburger stall with a built in refrigerator, gas bar-b-que plate, storage space for utensils and ingredients and sufficient work space.
The National Australia Bank is prepared to lend the money to Joseph for the project over a three year period. Joseph will have to make repayments to the Bank of $480 per month.
A local celebrity and once-upon-a-time television cook, Ms Jan Power runs a farmer’s market at the Brisbane Power House every Sunday. Joseph learns that he could rent a space at the Sunday farmer’s market for $200 per day.
Joseph has also been estimating the cost of ingredients for his hamburgers. On a per, hamburger basis he thinks he can buy ingredients as follows:

Ingredients | Cost per hamburger | Hamburger buns | $0.50 | Hamburger patties (meat) | $1.00 | Salad | $0.40 | Sauces and condiments | $0.05 | Disposable plates and napkins | $0.05 |

Joseph thinks he will be able to sell his hamburgers for $4.00 each.
But he needs to work out how many hamburgers he would need to sell to avoid losing money. He would also like to work out how many hamburgers he would have to sell to earn a profit of $500 per week.

1. | What are…...

Similar Documents

Free Essay

Bsbwor501B - Assessment 2

...levels of demands | 6 months | VET Fee Help | * Understand VET Fee Help requirements * How to apply for VET Fee Help for our organisation to offer * How to apply for VET Fee Help for students * Manage VET Fee Help within the company | 1 year | Double Diploma of Business and Management | * BSBRSK501B Manage Risk * BSBPMG522A Undertake Project Work * BSBWOR501B Manage personal work priorities and professional development * BSBLED502A Manage programs that promote personal effectiveness * BSBMKG502B Establish and adjust the marketing mix * BSBADM502B Manage meetings * BSBCUS501C Manage quality customer service * BSBMGT502B Manage people performance * BSBMKG501B Identify and evaluate marketing opportunities * BSBFIM501A Manage budgets and financial plans | Professional development opportunities/ training Timeframe | Description of opportunity/training | Skills/Competency to develop | Within 5 years | Bachelor of Business | * Accounting * Advertising * Business Law * Business Mathematics * Commerce * Economics * Financial Planning * Human Resources * Information Technology * Logistics * Management * Marketing * Occupational Health and Safety * Small Business * Sport Management * Taxation * Tourism | Networking activities Timeframe | Description of networking activities | Opportunity/professional advantage | Ongoing | Networking and visiting childcare centres | * Industry currency – to be able to......

Words: 1693 - Pages: 7

Premium Essay

Chinese

...Yes I can Manage Assessment Task Answer Guide BSB51107 Diploma of Management BSBMGT502B Manage people performance BSBFIM501A Manage budgets and financial plans BSBMBT515A Manage operational plan flexiblelearning.net.au Acknowledgements This is a Tasmanian E-learning Innovations project output, developed by the Pharmaceutical Society of Australia, with seed funding from the national training system's e-learning strategy, the Australian Flexible Learning Framework (Framework). Project Team Yes I can Manage Content Writer Dorothy Lucardie Reviewer Tony Hughes Instructional Designer Jenni Ireland Project Manager Dorothy Lucardie Copyright statement This product has been produced on behalf of the national training system. It was funded under the 2010 Australian Flexible Learning Framework administered by the Commonwealth of Australia. © Commonwealth of Australia 2010 The views expressed in the copyright work do not necessarily represent the views of the Commonwealth of Australia. This work is copyright and licensed under the AEShareNet Share and Return Licence (AEShareNet–S Licence). The onus rests with you to ensure compliance with the AEShareNet-S Licence and the following is merely a summary of the scope of the Licence. Use of this work for purposes other than those indicated above, requires the prior written permission from the Commonwealth. Requests and notification of the distribution of Enhanced Versions should be......

Words: 4417 - Pages: 18

Premium Essay

Bsbfim501A

...Student Name: katie Student ID: c356109 Group: Date: Assessment Coding Assessment of this program of study is based on competency based principles. S = Satisfactory NS = Not Satisfactory Students who fail to perform satisfactorily for the assessment in the prescribed date may be assessed as ‘not satisfactory’. You are required to be assessed as ‘Satisfactory’ against specific performance criteria in all elements of the unit of competency including satisfactory completion of Assessments as assigned by your assessor/s for this unit of competency. Re-assessment Any re-assessment is conducted as soon as practicable after you have been informed of the requirement to be re-assessed and have been given the opportunity to be re-trained and assimilate the training. You are re-assessed in only the areas assessed NS and re-assessment is made under the same conditions as the original assessment. It is at the assessor/s discretion to re-assess the entire assessment should it be demonstrated an overall understanding of this unit has not been achieved. Students that are assessed “satisfactory” after re-assessment of areas deemed NS will achieve competency for this assignment. | Student Signature: | Date: ______ | | Assessor use only | Assessor Comment/Feedback: ____________ _____ _____ _____ _____Assessor Name: ____________________________ Assessor Signature: ......

Words: 661 - Pages: 3

Premium Essay

Bsbrsk501Bmanage Risk

...Yes I can Manage Assessment Task Answer Guide BSB51107 Diploma of Management BSBMGT502B Manage people performance BSBFIM501A Manage budgets and financial plans BSBMBT515A Manage operational plan flexiblelearning.net.au Acknowledgements This is a Tasmanian E-learning Innovations project output, developed by the Pharmaceutical Society of Australia, with seed funding from the national training system's e-learning strategy, the Australian Flexible Learning Framework (Framework). Project Team Yes I can Manage Content Writer Dorothy Lucardie Reviewer Tony Hughes Instructional Designer Jenni Ireland Project Manager Dorothy Lucardie Copyright statement This product has been produced on behalf of the national training system. It was funded under the 2010 Australian Flexible Learning Framework administered by the Commonwealth of Australia. © Commonwealth of Australia 2010 The views expressed in the copyright work do not necessarily represent the views of the Commonwealth of Australia. This work is copyright and licensed under the AEShareNet Share and Return Licence (AEShareNet–S Licence). The onus rests with you to ensure compliance with the AEShareNet-S Licence and the following is merely a summary of the scope of the Licence. Use of this work for purposes other than those indicated above, requires the prior written permission from the Commonwealth. Requests and notification of the distribution of Enhanced Versions should be......

Words: 4417 - Pages: 18