MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024
MNE3701 Assignment 4 (COMPLETE ANSWERS) Semester 2 2024 - DUE 11 October 2024
MNE3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 - DUE 8 November 2024; 100% TRUSTED Complete, trusted solutions and explanations.
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Entrepreneurship and Small Business Management
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, MNE3701 Assignment 4 (COMPLETE ANSWERS)
Semester 2 2024 - DUE 11 October 2024; 100% TRUSTED
Complete, trusted solutions and explanations.
Having acquired sufficient knowledge and skills on financial
management for small business, you must demonstrate practical
competencies in constructing financial statements and in
conducting feasible financial forecasting. As a new entrepreneur
understanding financial management and accounting, forms an
integral part of running your small business. In addition, you
should also be able to forecast the financial outcomes that could
result from your decision. The projections of business’s profits,
its assets and financial requirements, and its cash flows are
essential in determining whether your business is economically
viable. Having acquired sufficient knowledge and skills on
entrepreneurship and small business management, you must
demonstrate practical competencies in applying a pricing system
and promotional planning. 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
applying a pricing system in your business. (10)
To effectively apply a pricing system in a small business,
entrepreneurs must take into account various factors such as
cost, competition, customer demand, and perceived value. Let’s
assume the business you plan to start is a small bakery that
specializes in gourmet cakes, pastries, and artisan bread. Here’s
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