An Update on Our Business This Year

ANNUAL REPORT

An update on our business this year

Written by-Lakshay Chabbra, Palak Madaan, Hardika, Riddhi, Tanushka and Ambika

Lead teacher-arti bali

Created as part of the School Enterprise Challenge Awards Programme – Silver Level

Section A: Executive Summary
Business Name / KIIT Nutri-cafe
KIIT JoyStage ... Entertainment beyond Belief
Business Activity / KIIT Nutricafe-Make & Sell Variety of High Nutrition food items within the school campus as well as outside
KIIT Joy Stage-Entertainment and Event management activities.
Main product / service / KIIT Nutri-cafe- Salads, healthy wraps, ice-creams, sandwiches, patties, healthy drinks, shakes, cakes and pastry .
KIIT JoyStage - Event Management and Entertainment Services
Our school business social media (Facebook page, blog, Twitter account etc.) /
Number of students involved in business implementation activities (including writing this Annual Report) / Boys 82 / Girls 100 / Total 182
Number of students in whole school / Boys / Girls / Total
Number of parents involved in our school business / 28
Financial Summary
Estimated (figures copied from Business Plan) / Actual
Our local currency ( Rs ) / US Dollars ($) / Our local currency (Rs ) / US Dollars ($)
Period of time budgeted for & actually covered: / 7 Months / 7 Months
Total Income: / 9,10,000 / 14114.100 / 6,25,000 / 9693.750
Total Direct Costs: / 3,72,000 / 5769.720 / 2,64,000 / 4094.640
Gross Profit: / 5,38,000 / 8344.380 / 3,61,000 / 5599.110
Total Indirect Costs: / 1,38,000 / 2140.380 / 95,000 / 1473.450
Net Profit: / 4,00,000 / 6200.000 / 2,66,000 / 4123.000
Section B: Running Our Business
1. Here is a summary of what we did to run our business (including activities carried out to launch the business, if we started a different one this year):
Being one of the most active competitors of the School Enterprise Challenge, KIIT World School undertook a number of activities under the Flagship of our evergreen business KIIT Nutri Cafe.
Our business aims at inculcating healthy food habits amongst the youth as the target audience includes the students till 12thgrade. We not only have been actively catering to the needs of taste buds of our youngsters but at the same time have been making our students well versed with business management skills wherein end to end activities are independently handled by the students with a supportive guidance from the mentor teachers.
The KIIT- NUTRI CAFÉ which is the core activity of our business includes selling of healthy, innovative and delicious dishes to the customers. The speciality of our dishes is that they are all home-made and no compromise has ever been made with the quality of the food products. Moreover, in the recent past, we have even collaborated with some parents who have taught our students with new ideas of making new attractive yummy dishes so as to expand the platter of our offerings. We even have included cakes made by students as an attraction on our Menu. We have our Students only doing further innovations and bringing out new dishes and we recognise them by making them “Chef for the Day”.
Certain attractive offers and combos have also been introduced to lure the target customers and further making them interested in purchasing from us.
Not just this, the team as a whole, along with the support of the teachers came up with an idea of diversifying into an entirely different Business Vertical focussing on Entertainment and Event Management KIIT JOY STAGE which focuses on Talent Hunt in the school itself and bringing out that talent by organising singing and dance programmes within the school premises, which served the dual motive of providing students with a source of entertainment and earning profits. The tickets for the shows also included a delicious and refreshing meal box which further added to the delight of the students. Moreover, 3D-MOVIE SHOWS have also been organised for the junior classes.
The main objective behind these activities has always been the happiness of the customers and the value which can be added to their lives which has always been a success.
We live with the Motive –“Spread Happiness, Work Hard and the Success will be YOURS.”
2. Here is a description of the different departments we worked in and how often we all rotated roles:
To run a successful business an outstanding team is required which is united in its efforts and is not at cross purposes with its members.
As a single person cannot have all the skills, a group of people can join in and overcome this constraint.
‘We have the Following Departments in Our Business:

Purchases Department
Sales Department
Accounts and Finance Department
Planning and Marketing Department.

Our Purchases Department is fairly well at negotiations and takes care of the quality of products, which are being purchased. They emphasise about optimising the cost so that we keep it under control and at the same time they ensure that we are not comprising on the quality we are bringing in. They do a proper survey in the market about what are the places providing the required materials for our business and after the detailed study make the decision of finalising the purchase order. They are the one who are there to support us to keep a focus on maximising at our profits with compromising on health of our students or quality of our food.
The Sales department is one of the most enthusiastic teams we have. They work with a sole motive of Pampering the customer to the extent that he/she never will explore any other option. They are extremely focussed on customer service and work positively on customer feedback. They ensure that they are offering what the customer wants and at the same time believe in maximising sales and maximising profits. They Focus on numbers i.e. looks after the quantity being sold. They include a small team of delivery also, which focuses on providing the class delivery to our students and teachers who are unable to come to the cafeteria against the pre-booking of the food orders.
The Accounts and Finance team are our Gems. They don’t only focus on collection and payment of funds but at the same time they keep coming out with innovative ideas of cost controlling and price fixation in such a manner, that we end of earning higher than the proposed targets for the event. One of the planned actions of theirs was reflected when they initiated the planning for our Musical Concert Saaz, where they worked out the Financials in such a manner that we ended up enhancing the quality by keeping a check on our cost but at the same time enhancing our profits.
Last but not the least, we have a Planning and Marketing team which conducts surveys before launching a particular product whether it is going to attract our customer base or not. The work on the what the customer wants and accordingly create the market offerings. They don’t just focus on planning for building business but in fact they believe if our customer is happy, we will get business flowing in. They do an active role in making banners ,creating awareness about new coming up events and let our customers/audience know what new we are going to come up with.
The other members of the Committee provide overall support and make sure that events happening are well coordinated and also fill the gaps, if any. The members work efficiently, sometimes individually or in groups to make sure nothing remains left out and as far as KIIT NUTRICAFE and KIIT JOY STAGE is concerned, there are no loopholes in the overall planning and execution.

Working like this gives a clear idea of team work and the significance of individual efforts for making it a successful project.
Section C: Management & Use of Profits
3. a) Here is an explanation of how we formed our Business Management Committee:
The need of Management is indispensable. A Management Committee has the responsibility of not only managing the business activities but also to ensure that proper ethics and values are being followed in the business and their are no mis-practices being followed in the entire set up which may lead to bringing wrong name for our business entity. We, with the sole agenda of keeping our business focussed and working in the direction of Fulfilling business needs as well as customer satisfaction created our Management Committee.
For maintaining and protecting student’s health and deliver them with nutritious food is what we believe in. As such we have focused on our vision, mission and values while forming business management committee. This also assists us in planning for future. Our vision signifies that our committee is set up to pursue an agreed purpose that is health, care, creativity and building an identity for Kiitians. Following vision; our mission defines our purpose for this business. We want to create global healthy citizens and maintain all business ethics with regard to profit earning. Lastly, our values are based on principle guidance which we get from our teachers. They assist us at every tough stage. Considering these three focusing factors, we formed our business committee which lays stress over vision, mission and values. All the members in the committee are conscious of healthy taste and preferences among students. They are always keen on bringing out some hidden talent of our students. They don’t want to leave any stone unturned and want to explore every possibility hidden in our kiitians. Whether its about food or its about conducting events or it is about offering entertainment and stress busters, the Management Committee plans for all.
They believe in putting in the best and leaving the rest.
b) These are the members of our Business Management Committee:
Name / Status (teacher/student/parent etc.)
Dr. RichaVerma / Head of the committee (teacher)
Ms. Arti Bali / Head advisor (teacher)
Tanushka and Riddhi Aggarwal / Head organisers(Students)
Lakshay Chhabra / President (student)
Palak Goel / Vice president (student)
Anubhav Bansal / Finance secretary (student)
c) And this is a record of the meetings our Business Management Committee held:
Date / Number of attendees / Main subject(s) discussed / Signed off by Principal?
(Yes/No)
15th May 2017 / 32 / Organising Inter-class competitions under KIIT Nutricafe Business Challenge / Yes
12 July 2017 / 28 / Discussing Launch Event and Other Activities under KIIT Joystage / Yes
2nd September, 2017 / 21 / Discussng Movie Entertainment Activity and Cost Monitoring Issues / Yes
10th August, 2017 / 38 / Discussing the Launching of Musical Show Saaz Season 1 / Yes
25th October, 2017 / 46 / Discussing the Season 2 for Saaz -The musical Show / Yes
10th November,2017 / All members / For Discussion on Gala event “Spandhan” for 25th December / Yes
4. Here is an explanation of what we decided to spend our profits on and how we came to that decision:
Profits are the hard earned money of the endless efforts put in by our team of laborious students and passionate teachers.
We are clearly focussed on the way we are going to utilise these profits.

Profits earned from business are definitely going to be used for development of our students like for example as we were involving our Music department to help us out in conducting the Musical Show Saaz, we took up the responsibility of creating better environment in the music room for our budding artist. We bought new musical instruments from the profits earned from Saaz. Today we are through with the second season of Saaz and both the season One and Season Two were a remarkable success. And at the same time today our music room is more equipped with better instruments. So Student Welfare is the prime focus for our business profits.
Apart from this, we need to utilise our profits sometimes for our expansion business plans also. We require these profits to be reinvested in the business so that we don’t go through the financial hiccups and are able to carry out our business activities smoothly, uninterrupted in the way we desire.
We also use some of our profits for Social Welfare. Like we are organising a Gala Event on 25th December under the name “Spandhan”-Care and Share” We will be organising Workshops on personal hygiene, dental care, personal grooming and we will also organise a blood camp that day. We would also conduct certain activities for the underprivileged children so that they at least for sometime can get the joy in the their lives. With the fellow feeling we will give them cloths, stationery items, food and beverages. In this event we are also inviting grandparents of the children from our school and our partner school. The profits earned in the business will be utilised for this thanks giving purpose.
We also create a few reserves to minimise the risk and uncertainties involved in the business. All the decisions regarding the profit allocation are taken under the due guidance and expert advice of our head advisory teachers and Students on Board with our Principal’s due consent.

We, the Business Management Committee, confirm that we agreed democratically how the profits would be spent. Signed by Business Management Committee:
Section D: Achievements, Challenges and Solutions

5. These are the 3 most important things we learned and how these learnings are helping us outside of the business:

Teamwork-To accomplish our assigned tasks, we are expected to divide the activities among us and perform as a team. We significantly learnt the importance of working as a dedicated and enthusiastic team to achieve a common goal. Together, we acquired the skills to work patiently in a group wherein there exists a variety of opinions. But the School Enterprise Challenge has built us as improved individuals both in terms of empathy and patience. The team has to consolidate a list of activities into a challenge and this has been made possible by the regular tasks of our business. Not only our business techniques have improved but our ethical aspects have strengthened too. Teams are now seen as a power instead of clumsy set up. SEC has inculcated more than the usual.
Dealing with 'a lot'- While working for the business stuff, we have gathered the ways to deal with a bulk of things. The bulk incorporated: handling orders, managing accounts, identifying flaws, dealing with our customers and much more. We could make way for everything in a limited time provided. This made us better managers, despite being naive. All this injected numerous skills, despite being challenging. The entire set up proved to be a boon, despite being rigmarole. We have been baked as splendid entrepreneurs and leaders through this push of the business booster. Forsooth, this leadership has paved a way for our polished skills of working in and out of the boundaries concerned. We will definitely be better Manager in and out when it comes to handling other tasks as well, whether related to our academics or personal life.
Strengthening of Mind and Ability to Think “Out of the Box”- Apart from ethical and business attributes, we have developed an elongated and strengthened mind world wherein we can think beyond any specified limit. Our approach towards activities like KIIT joy stage wherein we worked to expand our business dimensions, have broadened our thought process individually. It has become quite obvious for us to search for a unique way always for accomplishing the things. Now, there’s no hold on our thinking abilities in the field of commerce. En masse, SEC has given a boost to our ways to see the business world. We have started adding the required tinctures of creativity in our little enterprise. Moreover, these parts have instilled lot more in us as well-defined stakeholders who can lift the future ethos higher with positives in mass.

Here is a quote from each head of department explaining the biggest challenge he/she faced when planning/setting up/running our business and the solution(s) we found to overcome them:

Department / Name of student head of department / Main challenge faced (quote) / Solution(s) (quote)
Coordination / Lakshay Chhabra / Paucity of time / We have planned to manage our activities in a more refined way.
Planning and execution / Palak Goel / Plans, at times, collapse because of limits on time and space. / Due to these constraints, we have started formulating the activities which yield maximum in less time.
Finance / Anubhav Bansal / Less funds and more accumulation of credit-wishers / We have put an end to the credit system as the management is to be handled by students, majorly.
Operational activities / Riddhi Agrawal / Bit burden as the processes are time consuming / Ordering and accounting is now divided among different students.