For this assignment, you should answer the questions on the basis that you personally own a small business. The business can be in any legitimate industry and should involve at least two additional people who can be either business partners or staff. If you: actually do own a small business – great. You can answer the questions based on this business. You may need to hypothetically increase the scale of the business to allow for the involvement of two additional people. don’t own a small business, choose a hypothetical business in an industry that you are familiar with. When you complete your assignment, please start by introducing your business. No marks are awarded for this information however completion is required to allow your answers to be contextualised. Business nature Campervan and RV/Motorhome rentals Business location Major city Business scale Open 6 days a week with seven staff. Task 1. Identify the strategies and tactics that you would take for the management of the financial activities of your business. Give reasons for your answer. Guidance notes: Your answer should focus on how the financial activities are managed rather than the specific detail of the activities themselves. Strategies should be appropriate for the nature of the business and align with the skill set strengths or weaknesses that you identified in Task 1. You can have more than one strategy and more than one tactic for each strategy. Task 2. Identify the strategies and tactics that you would take for the management of the marketing activities of your business. Give reasons for your answer. Guidance notes: Your answer should focus on how the marketing activities are managed rather than the specific detail of the activities themselves. Strategies should be appropriate for the nature of the business and align with the skill set strengths or weaknesses that you identified in Task 1. You can have more than one strategy and more than one tactic for each strategy. Task 3. Identify the strategies and tactics that you would take for the management of the day-to-day operational activities of your business.
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