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MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024
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MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024
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MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024; 100% TRUSTED Complete, trusted solutions and explanations.
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,MNE3701 Assignment 6 (COMPLETE ANSWERS)Semester 2 2024 - DUE 8 November 2024; 100%
TRUSTED Complete, trusted solutions and
explanations.
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 complete this assignment, you can follow these steps and
structure your response accordingly. Below is a suggested
outline and key points to consider when discussing the
management of human resources in the small business you
visited:
, 1. Introduction
Briefly introduce the small business and its nature.
Mention the annual turnover of approximately R2 million.
2. Overview of Human Resource Management
Describe the significance of effective human resource
management (HRM) in small businesses.
Outline key aspects of HRM, such as recruitment, training,
performance management, employee relations, and
retention.
3. Owner's Management of Human Resources
Recruitment and Selection:
o Discuss how the owner recruits employees (e.g., local
advertisements, word-of-mouth).
o Assess whether the selection process is thorough and
if it aligns with the business needs.
Training and Development:
o Inquire about the training programs in place for new
and existing employees.
o Analyze whether ongoing professional development
opportunities are provided.
Performance Management:
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