This document contains workings, explanations and solutions to the MNE3701 Assignment 4 (QUALITY ANSWERS) Semester 2 2024. For assistance whats-app us on 0.6.8..8.1.2..0.9.3.4....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) QUESTION 2 By using practical examples demonstrate how you would conduct the promotion of your product in your business.
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