Question: Assessment 1:
Scenario: Imagine that you are the owner of a small business, e.g. cafe´, clothing store, electronics, restaurant, copy shop. You may need to consult with your trainer for potential types of businesses. You are thinking that this year will be the perfect time to begin exploring ideas to grow your business.
Based on the above scenario, answer the following:
1. Provide a brief description of your business, outlining such things as its products and services, location and capacity, etc.
2. In terms of growth and expansion, design 3 objectives that your business will aim for over the next year.
3. Devise, rank and assess 5 marketing opportunities that may enable you to reach your objectives. You will have to use the ‘Ranking Opportunities Table' that's at the end of ‘Session 3' of the workbook or something similar to complete this question.
4. Out of your list of opportunities, select the best one and document how your business will need to change in terms of operations and resources. This means that you will have to identify 3 business operations and 3 business resources that need modification in order to take advantage of this opportunity.
5. It's now time to communicate with your stakeholders to inform them of your findings. Prepare a 5-10min presentation that outlines your plan.