Exam (elaborations)
MNE3701 Assignment 5 Semester 2 2024 - DUE 25 October 2024
- Institution
- University Of South Africa (Unisa)
MNE3701 Assignment 5 Semester 2 2024 - DUE 25 October 2024 COMPLETE ANSWERS
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MNE3701 Assignment 5Semester 2 2024 - DUE 25
October 2024
QUESTIONS WITH ANSWERS
[School]
[Course title]
, MNE3701 Assignment 5 Semester 2 2024 - DUE 25 October 2024
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 your business, it's essential to categorize and manage both
tangible and intangible assets strategically. Let's assume you are starting a small bakery
business. Here's how you would manage the assets:
1. Inventory Management
Inventory is a key tangible asset in a bakery. You need to balance having enough raw materials
(like flour, sugar, and baking ingredients) without overstocking, which could lead to spoilage.
Implementing an inventory management system would help track stock levels, reduce waste, and
optimize order cycles.
Example: Using software like Zoho Inventory to monitor stock levels in real time and automate
reordering ensures that ingredients are fresh and prevents loss due to expired goods.
2. Equipment Maintenance
Your bakery will rely on equipment like ovens, mixers, and refrigeration units. These are
valuable tangible assets that must be maintained to avoid breakdowns, which could halt
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