, MNM2615 Assignment 1 (COMPLETE ANSWERS)
Semester 2 2025 – DUE 2025 ; 100% TRUSTED
Complete, trusted solutions and explanations.
QUESTION 1
Describe the background of the chosen SME/SMME. Your answer
should not exceed half a page (5 marks for the background). (5)
Background of the Chosen SME/SMME
The selected enterprise is a small to medium-sized business that operates
within a highly dynamic African market environment. Like many SMEs
on the continent, it was established to respond to unmet local needs and
the increasing demand for affordable, accessible products and services.
Its operations are deeply influenced by socio-economic conditions,
cultural values, and community-driven consumer behavior. The business
has grown by leveraging informal networks, personal relationships, and
word-of-mouth marketing, which are often more effective than formal
advertising channels in African contexts.
Despite limited financial and technological resources, the enterprise
thrives on adaptability and innovation, using flexible strategies to remain
competitive in a market characterized by rapid changes and diverse
consumer segments. Its size allows it to respond quickly to customer
preferences, while also contributing significantly to employment
creation and local economic development. The business reflects the
resilience of African SMEs, balancing traditional business practices with
modern approaches to meet both local and global market pressures.
Semester 2 2025 – DUE 2025 ; 100% TRUSTED
Complete, trusted solutions and explanations.
QUESTION 1
Describe the background of the chosen SME/SMME. Your answer
should not exceed half a page (5 marks for the background). (5)
Background of the Chosen SME/SMME
The selected enterprise is a small to medium-sized business that operates
within a highly dynamic African market environment. Like many SMEs
on the continent, it was established to respond to unmet local needs and
the increasing demand for affordable, accessible products and services.
Its operations are deeply influenced by socio-economic conditions,
cultural values, and community-driven consumer behavior. The business
has grown by leveraging informal networks, personal relationships, and
word-of-mouth marketing, which are often more effective than formal
advertising channels in African contexts.
Despite limited financial and technological resources, the enterprise
thrives on adaptability and innovation, using flexible strategies to remain
competitive in a market characterized by rapid changes and diverse
consumer segments. Its size allows it to respond quickly to customer
preferences, while also contributing significantly to employment
creation and local economic development. The business reflects the
resilience of African SMEs, balancing traditional business practices with
modern approaches to meet both local and global market pressures.
