Exam (elaborations)
MNE3701 Assignment 6 Semester 2 2024 - DUE 8 November 2024
- Institution
- University Of South Africa (Unisa)
MNE3701 Assignment 6 Semester 2 2024 - DUE 8 November 2024 QUESTIONS WITH DETAILED ANSWERS
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MNE3701 Assignment 6Semester 2 2024 - DUE 8
November 2024
QUESTIONS WITH ANSWERS
, MNE3701 Assignment 6 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 deficiency 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 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 utilises technology to support customer relationship management
of 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 is there a need for
improvement? If yes, provide recommendations for improvement. (15)
To effectively answer this question, it is important to consider the key
aspects of human resource management (HRM) in a small business
setting, then apply the insights gathered from the interview to evaluate the
current HR practices and provide constructive recommendations.
1. How the Business Owner Manages Human Resources:
Based on the interview with the small business owner (estimated annual
turnover of R2 million), the owner might manage human resources in the
following ways:
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