MNE3701 Assignment 3 (QUALITY ANSWERS) Semester 2 2024

This document contains workings, explanations and solutions to the MNE3701 Assignment 3 (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 financing the financial or capital needs of your business, building customer relationships, developing the product and managing the supply chain of your the business. Think of any business you would like to start and answer the following questions: QUESTION 1 With reference to practical examples, critically discuss how you would finance your business. Motivate why you choose specific ways of financing over others. (10) QUESTION 2 With reference to practical examples, demonstrate how you would build customer relationship in your business. (10) 3 MNE3701 2024 ACADEMIC YEAR TURNOVER QUESTION 3 Conceptualise how you would apply your skills to develop your product and manage the supply chain of your business. Provide practical examples and motivation for the product strategies you may choose to develop your product.