MNE3701
ASSIGNMENT 6 SEMESTER 2 2024
UNIQUE NO.
DUE DATE: 8 NOVEMBER 2024
, MNE3701
Assignment 6 Semester 2 2024
Unique Number:
Due Date: 08 November 2024
Entrepreneurship and Small Business Management
Question 1: Management of Human Resources
Introduction
Managing human resources is a vital component of running a successful business,
especially for small enterprises with limited resources. Effective human resource (HR)
management involves recruiting, training, retaining, and motivating employees to ensure
the business achieves its objectives. This essay explores how a small business owner,
with an estimated annual turnover of R2 million, manages human resources. It also
assesses whether there are deficiencies in their HR practices and offers
recommendations for improvement where necessary.
Body
The owner I interviewed runs a local restaurant with approximately 10 employees. The
owner manages human resources through direct involvement in recruitment, training,
and employee performance monitoring. However, there is no formal HR department,
which is a common challenge for many small businesses. The owner mentioned that
recruitment is typically done through word of mouth or local advertisements, and new
hires undergo on-the-job training provided by more experienced staff. Employee
performance is informally assessed through observation, and rewards are given in the
form of occasional bonuses or verbal praise.
While the owner's approach to human resource management seems personal and cost-
effective, several areas for improvement became evident during the interview.
ASSIGNMENT 6 SEMESTER 2 2024
UNIQUE NO.
DUE DATE: 8 NOVEMBER 2024
, MNE3701
Assignment 6 Semester 2 2024
Unique Number:
Due Date: 08 November 2024
Entrepreneurship and Small Business Management
Question 1: Management of Human Resources
Introduction
Managing human resources is a vital component of running a successful business,
especially for small enterprises with limited resources. Effective human resource (HR)
management involves recruiting, training, retaining, and motivating employees to ensure
the business achieves its objectives. This essay explores how a small business owner,
with an estimated annual turnover of R2 million, manages human resources. It also
assesses whether there are deficiencies in their HR practices and offers
recommendations for improvement where necessary.
Body
The owner I interviewed runs a local restaurant with approximately 10 employees. The
owner manages human resources through direct involvement in recruitment, training,
and employee performance monitoring. However, there is no formal HR department,
which is a common challenge for many small businesses. The owner mentioned that
recruitment is typically done through word of mouth or local advertisements, and new
hires undergo on-the-job training provided by more experienced staff. Employee
performance is informally assessed through observation, and rewards are given in the
form of occasional bonuses or verbal praise.
While the owner's approach to human resource management seems personal and cost-
effective, several areas for improvement became evident during the interview.
