MNE3701 Assignment 5
Semester 2 2024 - DUE 25
October 2024
[Company address]
, MNE3701 Assignment 5 Semester 2 2024 - DUE 25 October 2024
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)
To effectively manage the assets of your new business, consider aspects such as
inventory, equipment, intellectual property, and financial assets. Here’s a detailed
discussion with practical examples:
Managing Business Assets
When starting a business, asset management is crucial for maintaining operational
efficiency, ensuring profitability, and minimizing risks. The following are ways to manage
various types of assets in a business effectively:
1. Inventory Management
• Example: If the business is a retail store, inventory assets will include stock such
as products or materials for resale. Effective inventory management is essential
Semester 2 2024 - DUE 25
October 2024
[Company address]
, MNE3701 Assignment 5 Semester 2 2024 - DUE 25 October 2024
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)
To effectively manage the assets of your new business, consider aspects such as
inventory, equipment, intellectual property, and financial assets. Here’s a detailed
discussion with practical examples:
Managing Business Assets
When starting a business, asset management is crucial for maintaining operational
efficiency, ensuring profitability, and minimizing risks. The following are ways to manage
various types of assets in a business effectively:
1. Inventory Management
• Example: If the business is a retail store, inventory assets will include stock such
as products or materials for resale. Effective inventory management is essential
