Exam (elaborations)
MNE3701 Assignment 6
- Course
- MNE3701
- Institution
- University Of South Africa
MNE3701 Assignment 6 (FINAL RESPONSES) Semester 2, 2024 - DUE DATE: November 8, 2024... 100% Correct answers provided and elaborated
[Show more]
Seller
Follow
Content preview
MNE3701 Assignment 6(FINAL RESPONSES)
Semester 2, 2024 - DUE
DATE: November 8, 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) 2. Discuss how the owner of the
small business you have visited, manages the business’s finances. Do you think is there a
need for improvement? If yes, provide recommendations for improvement. (15)
Visit Report: Java Haven Café
1. Human Resource Management
Current Management Practices
During my visit to Java Haven, the café owner shared that human resource management is managed primarily
through informal means. Staff recruitment is largely based on community referrals, using personal networks to fill
positions. Training follows an on-the-job model, where new hires learn through direct experience while working.
The café offers flexible scheduling to accommodate employees' personal needs, creating a more adaptable work
environment. However, the absence of formal HR policies or an employee handbook is evident, which can lead to
ambiguity regarding employee rights, responsibilities, and workplace standards.
Assessment of Practices
Java Haven’s friendly, trust-based work environment encourages a sense of community but lacks consistency and
standardization. The informal HR approach may cause discrepancies in areas such as training quality,
performance evaluation, and conflict resolution, as there is no uniform framework guiding these practices. Such
variations may affect job satisfaction and performance, with employees experiencing different levels of support
and expectations.
Recommendations for Improvement
2. Implement Formal HR Policies: Develop a comprehensive employee handbook detailing job expectations,
responsibilities, and workplace policies. This resource will provide clarity for all employees and support the
café's operational standards.
3. Regular Training Programs: Introduce ongoing training sessions focused on key skills, customer service
excellence, and teamwork. This initiative would not only improve service quality but also enhance employee
morale and job satisfaction.
4. Performance Reviews: Establish a structured system for regular performance evaluations, including goal-
setting and feedback mechanisms. This approach will help identify areas for development and recognize
achievements, promoting growth and accountability.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller wanyamanvalentine. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R46,62. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
64438 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now