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MNE3701 Assignment 6 Full Solutions Semester 2 2024 - DUE 8 November 2024 R49,66   Add to cart
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  3. University Of South Africa
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  5. Introduction to Entrepreneurship and Small Business Management (MNE3701)

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MNE3701 Assignment 6 Full Solutions Semester 2 2024 - DUE 8 November 2024
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MNE3701 Assignment 6 (QUESTIONS & ANSWERS) Semester 2 2024 - DUE 8 November 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... Having acquired sufficient knowledge and skills on entreprene...

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  • mne3701 assignment 6 semester 2 2024

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MNE3701
ASSIGNMENT 6 SEMESTER 2 2024
UNIQUE NO.
DUE DATE: 8 NOVEMBER 2024

, MNE3701

Assignment 6 Semester 2 2024

Unique Number:

Due Date: 08 November 2024

Entrepreneurship and Small Business Management

Question 1: Management of Human Resources

Introduction

Managing human resources is a vital component of running a successful business,
especially for small enterprises with limited resources. Effective human resource (HR)
management involves recruiting, training, retaining, and motivating employees to ensure
the business achieves its objectives. This essay explores how a small business owner,
with an estimated annual turnover of R2 million, manages human resources. It also
assesses whether there are deficiencies in their HR practices and offers
recommendations for improvement where necessary.

Body

The owner I interviewed runs a local restaurant with approximately 10 employees. The
owner manages human resources through direct involvement in recruitment, training,
and employee performance monitoring. However, there is no formal HR department,
which is a common challenge for many small businesses. The owner mentioned that
recruitment is typically done through word of mouth or local advertisements, and new
hires undergo on-the-job training provided by more experienced staff. Employee
performance is informally assessed through observation, and rewards are given in the
form of occasional bonuses or verbal praise.

While the owner's approach to human resource management seems personal and cost-
effective, several areas for improvement became evident during the interview.

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