MNE2601 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE April 2025.

MNE2601 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE April 2025.Book Title: Entrepreneurship Author(s): Gideon Nieman, Cecile Nieuwenhuizen Edition: 2014 ISBN: 9780627031366 Expertron Group, founded by Dr Walter Smuts and Gavin Ehlers, is a South African privately-owned company specialising in the new product development for information and communication systems with a focus on applications utilising technologies at the convergence between mobile (GSM) and conventional data networks (the Internet). We build long-term, trusted relationships with our customers, whether it be through licensing one of our products, developing software according to bespoke requirements or consulting on general IT and Software Engineering matters. Expertron has a total of 12 employees and employs a team of highly trained software development engineers with the capacity to specify design and develop products that provide tangible business solutions. Expertron, the developer of Cell-ID a strong user authentication system was the first major success story of the Maxum Business Incubator of the Innovation Hub. Since joining the Innovation Hub, an entrepreneurship intervention designed to accelerate the growth of innovative knowledge and technology-based enterprises in Gauteng, the company has made notable achievements. In a deal facilitated by the Innovation Hub, Expertron formed a partnership with Grintek, a major player in the local and international defense, electronics and telecommunication industries. An important advantage of being part of the Innovation Hub as the leading knowledge-intensive business cluster in South Africa, is being near other entrepreneurs and being able to share ideas and be assisted to commercialise technological innovations. 1.1. With reference theory as well as the case study, describe the Innovation Hub. (3) 1.2. What are the advantages that Expertron has experienced by being part of the Innovation Hub? (5) 1.3. Give three advantages and three disadvantages of the form of business ownership chosen by Walter and Gavin. (6) 1.4. According to the National Small Business Act of South Africa, what would the business in the case study be classified as? Support your answer with evidence from the case study. (2) 1.5. From the case study, how does the Expertron Group build long-term, trusted relationships with its customers? (4) [20] Read the following case study and answer the questions that follow In 1991, there were no vegan sausages available in supermarkets, so Wally and Debbie Fry started making protein alternatives or meat analogues for their own consumption in the form of vegan sausages and burgers. Their vegetarian friends started purchasing the products and demand grew. In 2001 their innovative recipes resulted in the establishment of Fry Group Foods. It is now a second-generation family business. It now exports 27 vegan products to over 25 countries distributing delicious and cruelty free food that has as little impact on the natural environment as possible with an emphasis on putting principles over profits. The ingredients and factory carry endorsements from the highest authorities of veganism in the world. Growth was incremental but continuous and today the business packs 40 tons per day. The focus is on continuous improvement and the development of new product lines. In addition, Fry’s continues researching new ingredients from all over the world, with the proviso that its sources are aligned with the business’s own ethics and values. 2.1. Using examples from the case study, discuss the three characteristics of growth exhibited by Fry Group Foods. (6) 2.2. The business depends on people and the natural environment for its own sustainability. Using examples from the case study, explain what constitutes ethical factors for Fry Group Foods and how they incorporate ethical factors in their business. (6) 2.3. Discuss any four ethical principles that Fry Group Foods should be rooted in to remain sustainable. (8) [20]