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 QUESTIONS WITH DETAILED ANSWERS
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MNE3701 Assignment 5Semester 2 2024 - DUE 25
October 2024
QUESTIONS WITH ANSWERS
, 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 a business, it is important to adopt
strategies that ensure optimal use of resources, maintain liquidity, and
mitigate risks. Here’s how I would approach asset management if I were to
start a small business in the catering industry, for example:
1. Tangible Assets
Tangible assets are the physical items a business owns, such as
equipment, vehicles, and real estate. In my catering business, these assets
would include:
• Kitchen Equipment: Stoves, ovens, refrigerators, and dishwashers.
• Delivery Vans: Vehicles for transporting food to customers.
• Furniture and Utensils: Tables, chairs, and dining ware for events.
Management Approach:
• Regular Maintenance: To ensure the longevity of kitchen equipment
and vehicles, I would schedule regular maintenance and service
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