...TASKS Unit 1994 Version 6 Title Manage the development of small business ventures L 6 C 5 NOTE: USE SEPARATE SHEETS FOR YOUR ANSWERS. THE ANSWER SHEETS SHOULD INCLUDE THE CASES AND QUESTIONS AND MUST BE SUBMITTED IN SOFT COPY TO FACILITATE ANTI-PLAGIARISM CHECKING. Task 1 Directions In this task you are required to select and assess the implications of relevant national indicators for specific small business ventures. Before you commence each question, carefully read through the relevant Case associated with the question. This is to ensure you understand the facts and issues the small business venture’s is facing. After reading the case, assess the implications that the specified national economic indicator will have on the small business venture. You will be required to write descriptive paragraphs explaining at least two (2) of the implications. Your description must be specific to the information in the Case. Use examples from the Case to reinforce your descriptions. Answer these questions: 1.1 Assess the implications of inflation on Burger King’s business operations. (O1 – ER 1.1) Case 1: Inflation Burger King (BK) raised the price of a double cheeseburger from $1 to $1.19 and to removed one slice of cheese from the double cheeseburger on its dollar menu (they now call it the BK Dollar Double) due to the inflation dilemma that business ventures are dealing within the current economic environment . © IANZ | 1994 Manage the development of small business ventures | ASSESSMENT...
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...for each. Ans. American Express offers its customers with four broad categories of cards : * Personal cards * Small Business Cards * Corporate Cards * Prepaid Cards Personal Cards These cards cater to almost all the segment from teenagers to retired personnel. This category has vast variety of 21 different cards catering to different individual needs. These card cater to people who like to shop , travel , dine in at restaurants.The card target to teenagres to housewives to business corporates. The cards are positioned as per the requirements for eg Starwood Prefferd card gives point for people to redeem at flights and hotel Small Business Cards The business card offers features as Membership reward points, Travel rewards and flexible payment options. The card has features that provide special reward points on usage at advertising in select media, purchases for shipping, purchases for gas station. It positions with the business requirement of a company. Corporate Cards These are customised cards with specific features to meet the needs of the manager , frequent business travelers and executives. The card has features like online tracking tool which held to manage expenses track spending history and manage the resources.The cards helps to manage cost, maximise control and policy compliance.The cards are targetted at people who have small business that is they cater to young middle income group Prepaid Cards These are prepaid cards and gift cards that...
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...DaRosa Why did you decide to take over the company? I had a lot of confidence in myself and my overall knowledge of how to manage a manufacturing plant. I knew a considerable amount about the machines, the employees, the customers, and the suppliers. I saw it as the opportunity to build a future for myself and my children. Since this is a family-owned business, do your children want to carry on with the business? Yes I have 3 sons and they have all joined me at the plant, they have all earned bachelor degrees in Business and they are helping to grow the business considerably. They have the goal to not only continue the business but expand it as much as possible, with the hopes of passing it on to the next generation as well. Why is the business in this Pawtucket location? The company was born here, the plant was here for many years before I began working here the layout was established and it was a great location for our employees because many of them walk to work and this location is close to the center of town making it accessible to many. Pawtucket is the birthplace of manufacturing in RI; and NEK is a great example of that, we are one of the few manufacturing plants that are still around. What difficulties were encountered in starting or managing the business? Personally, I’ve invested and still continue to invest long hours here; this takes away from my family time. But company-wise, knowing how to budget properly, knowing how to allocate the funds, running a lean shop...
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...1. Identify: • the purpose of The Herb Farm’ • how Lynne & Sarah have worked to effectively achieve this purpose. (For example, through planning, organisation, leadership and control inside a family business). 2. What do you think is the most important management challenge they will face in the near future and how should they respond to this challenge? In answering these two questions, you are expected to provide: • The purpose behind the development of The Herb Farm • Introduction to the concepts of management, planning, organising, leading and controlling; o This might include consideration of management concepts like commercialisation, sustainability, succession planning in a family business, entrepreneurship, ecopreneurship, exporting, manufacturing, quality and competitors. • An analysis of the Herb Farm organisation, using the documents and web resources available. o Note: See the Assignments/Assignment 1: Group Presentation folder on blackboard for resources on The Herb Farm. Please make use of any additional resources you find but do not contact the owners or employees of The Herb Farm for assistance with this assignment!! _____________________________________________________________________________________________ 1. The purpose of the Herb Farm: - 'Green', natural products, using natural resources - An effective product; a product that will benefit your health - A trusted product “Organisations come into being to achieve a purpose” ...
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...In today’s workforce, it is the management team that helps drives a company to success. Managers are responsible for a long list of task including; ensuring their employees are doing the job correctly and on time; ensuring that the expectations and goals are clear and concise; the expectations and goals are being met; ensuring that the employees’ needs are being met; ensuring that the employees are following company policy; and the list goes on and on. One major role of a manager is to be a good role model to their employees. According to Yahoo Education, a role model is “A person who serves as a model in a particular behavioral or social role for another person to emulate.” (Role Model, 2009) This means that a manager as a “role model” needs to lead by example. In this paper we will discuss some moral and ethical dilemmas managers face as a role model and the relationship between ethical responsibility and social issues. According to Trevino, L., & Nelson, K. (2007), “They [managers] are probably the most important ingredient in an organization’s success and they [managers] are frequently the most overlooked.” They go on to say that “managers are the lens through which employees view the company, as well as the filter through which senior executives view employees.” (Trevino & Nelson, 2007) This can put a lot of pressure on a manager. Managers need to understand that what they say is not as important as what they do. Managers can talk all they want about different ethics and...
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...decisions and utilizing a plan, before changes can begin. Basically communicating with the workers can help their fears. Developing a plan that outlines the progress and advancement within the company will make the company more willing, ready, and able to make changes that are necessary. It is important to tell the employees first so they can inform the customers on what to expect, with the upcoming changes and how they can be affected by the changes before they happen. By doing this it gives individuals the chance to ask questions; so there is no confusion or problems because of unclear directions. Although challenges and problems can occur; keep the communication with people open and always remain committed to the changes. If these changes are not constructed and finished correctly; the company can lose profit, money, or customers. Time is money – if employees get discouraged or frustrated at their unclear view of the company's vision through these changes, they might waste both (Bohlander, G. W., & Snell, S. A., 2007). A small company from Richmond, Texas called Leaman Building Materials Inc. faced their technology difficulties. The company took a more hands-on tactic to the demands placed on their small company by the new technology developments. The new technology gave them as a small company a new opportunity – which includes an improved way to communicate with their customers and a bigger demand for customer service and their ability to provide better service. Leaman Building...
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...Management of Small Business Firms | Analysis Report – Assignment 2 | Mersha TantaryS0223372MGMT11109 – Introduction to ManagementGenevieve HealyCQUniversity Sydney Campus | 5/10/2012 5/10/2012 Executive Summary The focus of the paper is on the article by Verreynne (2012) the secret to running a successful small firm? Mind your own business. The main idea is to determine the success small businesses and how their management practices differ from the large companies. The small business can differ from the lifestyle focused and the growth oriented firms, the lifestyle focused emphasise most on the customer and employee retention through providing them a sense of ownership whereas the growth oriented firms keep working in learning and development. Behind the unique way on how the small firms manage their companies, there is a laxity of business plans in most of the organisations which end up with slower progress or growth. While leadership in small firms are the best aspect compare to other firms since most of people in the organisation play an important role by working independently. Small entrepreneurial businesses without family ties and household or family businesses are strongly concerned with economic security, business survival, maintenance, and growth. For the small businesses, leaders are vision process-oriented, where managers are organizational-oriented. Both leaders and managers focus on people, but managers also focus on systems and structures. Leaders...
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...MINIMIZING WORKING CAPITAL In the finance world, all successful firms efficiently manage their own working capital in many different ways. The term working capital originated with an old Yankee peddler who would load up his wagon and go off to peddle his merchandise (wares) for sale. This merchandise was called working capital because it was what he actually sold or turned a profit on to produce his profits. The wagon and the horse used are considered his fixed assets. He generally owned the horse and wagon, so those were always considered financed with equity capital, but his merchandise was always bought on credit, which was just like borrowing from the bank (his supplier). The more trips this peddler made each year, the faster his working capital grew. This was the start of working capital and is the main reason why a business places importance and finds many challenges pertaining to minimizing working capital. (Brigham & Houston, 2013, pg 535) Working capital is a financial metric which represents operating liquidity available to a business, organization or other equity, including governmental entity. Along with fixed assets such as plant and equipment, working capital is considered part of operating capital. Gross working capital equals to current assets. Net working capital (NWC) is calculated as current assets minus current liabilities. It is a deviation of working capital, which is commonly used in valuation techniques such as DCFs (Discounted cash flows)...
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...Your Name Axia College University of Phoenix Ethical Issues and Management: Manager as a Role Model In today’s workforce, it is the management team that helps drives a company to success. Managers are responsible for a long list of task including; ensuring their employees are doing the job correctly and on time; ensuring that the expectations and goals are clear and concise; the expectations and goals are being met; ensuring that the employees’ needs are being met; ensuring that the employees are following company policy; and the list goes on and on. One major role of a manager is to be a good role model to their employees. According to Yahoo Education, a role model is “A person who serves as a model in a particular behavioral or social role for another person to emulate.” [ (Role Model, 2009) ] This means that a manager as a “role model” needs to lead by example. In this paper we will discuss some moral and ethical dilemmas managers face as a role model and the relationship between ethical responsibility and social issues. According to Trevino, L., & Nelson, K. (2007), “They [managers] are probably the most important ingredient in an organization’s success and they [managers] are frequently the most overlooked.” They go on to say that “managers are the lens through which employees view the company, as well as the filter through which senior executives view employees.” (Trevino & Nelson, 2007) This can put a lot of pressure on a manager. Managers need to understand...
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...Assignment August 30, 2012 Chapter 2 Learning Exercise 2 1. Small businesses comprise a major portion of the U.S. economy. Larger companies typically have more resources to hire staff dedicated to supporting the management of employees than do smaller companies, which often lack formal HR departments to provide similar support. This does not eliminate the need to attend to people issues in smaller companies; rather line managers or company owners must perform HR practices in addition to their other activities. Also, smaller businesses often do not have the resources to provide the same level of pay, benefits, and training opportunities to employees as larger companies. 2. Although small companies often do not have the same type or level of resources enjoyed by larger companies, the importance of effectively managing employees may be magnified in smaller companies. With a smaller staff, managers may expect employees to display greater autonomy and discretion. As a result, the types of knowledge, skills, and abilities that employees may need in small versus large companies, even for the same job, differ. Furthermore, in contrast to large operations, in a small company, the performance of each employee is likely to have a larger, more direct impact on company success. 3. Yes, it would influence my decision about how to manage my employees. The pressures of managing employees in a young, startup company are different from those in a mature organization striving to...
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...------------------------------------------------- BSB5010 – Management Information System Assessment 2 Part 1 Mohammed sami seyadi 201201753 Workshop 003 Mohammed sami seyadi 201201753 Workshop 003 Table of Contents Introduction: 2 1st Technology Trend: 2 Benefits to the Marketing Department: 2 Benefits to the Business: 2 Risks & Solutions: 3 Competitors: 3 2nd Technology Trend: 3 Benefits to the Marketing Department: 4 Benefits to the Business: 4 Risks & Solutions: 4 Competitors: 4 Conclusion: 4 References: 5 Introduction: Most individuals that start a new business aim for one thing and one thing only which is success. In order for a business to progress successfully, individuals involved in the business should understand the market’s wants and needs and the many trends that takes in this world. Nowadays, technology trends are becoming a necessity and are applicable to all business needs whether to collect data and information and to attract customers or cutting costs and increasing revenue. This report will mention two technology trends that can benefit a marketing department and the business as a whole, the risks behind those technologies and the competitors that use those technologies. 1st Technology Trend: Saleforce1 ExactTarget, The Marketing Cloud, is a very powerful and useful platform and cloud application made to satisfy the needs of a marketing department in different organizations. It allows marketers to generate...
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...SYSTEMS COURSEWORK 2 PROBLEM SOLVING COURSE STUDENT NAME : Ameel Ajwad STUDENT ID NUMBER : T31200694 SUPERVISOR : Mr. Inham Hassen SUBMISSION DATE : 10th January 2013 Table of Contents INTRODUCTION 3 Question. 1 4 Below are the list of services www.ups.com is providing for individuals: 4 List of services provided for Small Businesses: 7 List of services provided for Large Organisations: 10 Question 2 12 Question 3 13 Impacts on UPS if the website was not available 14 Conclusion 15 Reference; 16 Declaration Of Originality: 17 Marking Scheme 18 INTRODUCTION www.ups.com United Parcel Service, or typically known as UPS, is an American package delivery company which was formed in 1907 by Jim Casey. The main company is located in Sandy Springs, Georgia, United States. Overtime the company’s service has expanded so much that it has become the leading global supply chain management with the capability of delivering 15 million packages per day to 6.1 million customers in more than 220 countries around the world. Purchasing UPS' own airline in 1981 was a big milestone for the company which enabled them to reach more destinations and expand their services globally. Including air freight, UPS use different modes of transportation like sea, road, rail transport. And UPS has taken information technology to their advantage by introducing their own website (www.ups.com) and also giving the opportunity for customers to track the destination...
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...Date: 21.11.2013 | Management Structure Topic Area: How can structure and effective management influence reorganising a business? Scenario Charlie Brown and his brother Ben Brown started up a business in 1999. They both enjoy sports, so decided to invest in starting up their own travel agency company, which they called Beyond Sports Travel Belief. The company offers package holidays for worldwide events, such as football tournaments, Olympics and a range of other sport events. Beyond Sports Travel Belief expanded having two branches, employs 2 supervisors and 6 booking clerks. Charlie was the one who managed the business, recruiting staffs and issuing responsibilities, while Ben’s role was to market their products, building the company’s brand. Unfortunately, Charlie left in 2010 leaving Ben as manager to manage his employees; including his two supervisors. This deteriorated the structure of the business. Charlie leaving had a massive impact on the company and it went to a stand still due to overloaded responsibilities. Introduction This essay is a reflective review and appraisal that has been put together to emphasis the importance of an organisational structure and how the effective management of a business could lead to business success. This topic has a massive impact on businesses as it takes a vital place in business success for example; the loss of a manager will potentially jeopardize the company, having no form of solid control because all responsibilities...
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...RMIT School of Business Information Technology ISYS1015 ASSIGNMENT SUBMISSION SHEET Family Name: Shen Student Number : 3354450 Personal Name(s) : Helin Contact Telephone Number 0420860306 Assignment Title Student Journal Course Coordinator Barry McIntyre Date Due Date Submitted 1 SEP 2014 This statement should be completed and signed by the student(s) participating in preparation of the assignment. A. Declaration and Statement of Authorship: 1. I/we hold a copy of this assignment, which can be produced if the original is lost/ damaged. 2. This assignment is my/our original work and no part of it has been copied from any other student’s work or from any other source except where due acknowledgement is made. 3. No part of this assignment has been written for me/us by any other person except where such collaboration has been authorised by the lecturer/teacher concerned and is clearly acknowledged in the assignment. 4. I/we have not previously submitted or currently submitting this work for any other course/unit. 5. This work may be reproduced, communicated, compared and archived for the purpose of detecting plagiarism. 6. I/we give permission for a copy of my/our marked work to be retained by the School for review and comparison, including review by external examiners. I/we understand that 7. Plagiarism is the presentation of the work, idea or creation of another person as though it is your own. It is a form of cheating and is a very serious academic offence that may lead...
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...integrate the data and processes of an organization into a single system using many components including hardware, software and a unified database. Many companies utilize ERP software to manage a suite of applications from cost, development, product planning, financial management, to manufacturing. The benefits of ERP systems are not without cost. There is initial implementation, software, hardware, data storage, training, maintenance and upgrade cost that maybe associated with any ERP System. Depending on the size of the company these cost can be in the thousands, to hundreds of thousands, to millions of dollars. For companies like Kennametal, to make significant changes to an ERP System once implemented, or to completely migrate to a different ERP System can multiply those cost. (Wisner, J., Tan, K., & Leong, G., 2012. p. 198). There are many ERP software solutions for major corporations that fit all budgets and offer a variety of features based on a firm’s needs. Three of those companies we will discuss in closer detail are Oracle, SAP, and Microsoft. Each of these companies offer the ability to configure their software to be tailored to an organizations specific demands; whether it be, choosing a type of inventory accounting or how the company choses to recognize its profits. In addition, each of these three companies offer functionality by providing the option to have ERP data housed on a server in a specified location or, an increasingly more popular option, by usage...
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