Entrepreneurship and Small Business Management (MNE3701)
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Assignment 6 (ANSWERS)
Semester 2 2024 - DUE 8
November 2024
, MNE3701 Assignment 6 (ANSWERS) Semester 2 2024 - DUE 8 November 2024
Having acquired sufficient knowledge and skills on entrepreneurship and small business
management, you must demonstrate practical competencies in managing small businesses. You
should also be able to identify deficiencies in the small business management practices and be
able to provide recommendations for improvement. Visit one small business in your area with an
estimated annual turnover of R2 million. Have an interview with the owner. In your interview,
ask him how he manages the human resources and finances of his business. You should also ask
him to what extent he utilizes technology to support customer relationship management in his
business. Use the information that you have gathered through the interview and answer the
following questions: 1. Discuss how the owner of the small business you have visited manages
the business’s human resources. Do you think there is a need for improvement? If yes, provide
recommendations for improvement. (15) 2.
Discuss how the owner of the small business you have visited manages the business’s finances.
Do you think there is a need for improvement? If yes, provide recommendations for
improvement. (15)
1. Human Resource Management
Current Management Practices
The owner of Java Haven mentioned that they manage human resources primarily through
informal methods. They hire staff based on referrals, often relying on personal connections
within the community. Training is conducted on-the-job, and they provide staff with flexibility in
scheduling. However, there is no formal HR policy or employee handbook.
Assessment of Practices
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