, 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)
Managing Business Assets: A Practical Approach
Starting a small business requires careful consideration and
management of various assets to ensure sustainability and
growth. For this discussion, let’s consider a hypothetical small
business: a local organic café named "Green Plate." Below are
practical examples of how I would manage the assets of this
business effectively.
1. Inventory Management
• Example: In running an organic café, maintaining a fresh
supply of ingredients is crucial. I would implement an
inventory management system to track stock levels,
including perishable goods such as fruits, vegetables, and
dairy products.