CANDIDATE’S NAME: ALICIA BELFON
SCHOOL: ACADEMIC COLLEGE FOR EXCELLENCE
CENTRE NUMBER: 160565
TITLE OF PROJECT: An investigation into the operations of the business and how economic concepts are applied in the business.
Chin’s Supermarket was established in the year 1963. It is located at LP 62 Corner of Carli Bay Road and Waterloo Road Couva. Mr. Steven Chin and his wife Mrs. Leena Chin were simple minimart owners before they decided to open a large supermarket. They both migrated from Canada to Trinidad in the year 1952. They moved to the village of Perseverance where they built a home, started a family and established their business in the center of the entire area. Mr. and Mrs. Chin owned and operated that minimart for ten years before they decided to expand and introduce Chin’s Supermarket. It was and always will continue to be a family owned business.
Revenue for the newly re-established business was provided by the owners, Mr. and Mrs. Chin through their personal savings. After many years the business had been passed down to their nine children, their next generation. Sadly in 1985, Steven Chin died and the Chin’s Supermarket was put into the hands of his nine children and his wife Leena, and a few months after his death, seven of his nine children migrated to and his wife Leena migrated to Canada leaving two of their brothers behind. The business was then left in the care of the two brothers, Lennox and Ivan Chin and Ivan’s wife Amy Chin. The partnership is owned by all ten individuals who handle any major decisions but they daily operations of the business are handled by those three individuals.
Chin’s Supermarket has been running for the past fifty years, it is family oriented and the staff is most friendly and it consists of twelve persons who work on a daily shift basis. The business opens from Sunday to Sunday and occasionally on a public holiday. From Monday to Thursday they...