MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024
MNE3701 Assignment 4 (COMPLETE ANSWERS) Semester 2 2024 - DUE 11 October 2024
MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024; 100% TRUSTED Complete, trusted solutions and explanations.
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Entrepreneurship and Small Business Management
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, MNE3701 Assignment 5 (COMPLETE ANSWERS)
Semester 2 2024 - DUE 25 October 2024; 100% TRUSTED
Complete, trusted solutions and explanations.
Having acquired sufficient knowledge and skills on
entrepreneurship and small business management, you must
demonstrate practical competencies in managing business’s
assets and risks. Think of any business you would like to start
and answer the following questions: QUESTION 1 By using
practical examples, critically discuss how you would manage the
assets of your business. (10)
To effectively manage the assets of a business, it is essential to
consider various types of assets, including tangible and
intangible assets, and implement strategies to maximize their
value while minimizing risks. For this discussion, let’s consider
starting a small café called "Green Bean Café," which focuses
on serving organic coffee and healthy snacks.
Managing Assets at Green Bean Café
1. Inventory Management:
o Example: Maintain a detailed inventory system to
track coffee beans, pastries, and other supplies.
Implement a first-in, first-out (FIFO) approach to
ensure that older stock is sold first, minimizing
spoilage.
o Critical Discussion: Regularly auditing inventory can
help identify slow-moving items, enabling timely
promotions or discounts. Additionally, using inventory
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