MNE
3701
MNE3701
Assig
nme
nt 5
(QUA Assignment 5 (ANSWERS) Semester
LITY
ANS 2 2024 - Due October 25 2024
WER
S)
Sem
ester
2
2024
, Contents
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) QUESTION 2 By
using practical examples demonstrate how you would manage risks in your
business. (10)............................................................................................................. 2
Question 1: Managing Business Assets (10 Marks).....................................................2
QUESTION 2 By using practical examples demonstrate how you would manage risks
in your business.......................................................................................................... 0
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)
QUESTION 2 By using practical examples demonstrate how
you would manage risks in your business. (10)
Question 1: Managing Business Assets (10 Marks)
To answer this, you must choose a business you would like to start. For this example,
let's assume you want to start a small café. Managing assets is crucial for the
smooth operation and long-term sustainability of the business.
Key Asset Categories and How You Would Manage Them:
1. Tangible Assets:
o Equipment and Machinery: This includes coffee machines,
refrigerators, and cooking equipment. Managing these assets involves
regular maintenance and ensuring efficient use to avoid breakdowns.
For example, scheduling weekly checks on the coffee machine to
prevent any unexpected failures during peak business hours.
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