Notesale: Turn your study into money

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SMALL BUSINESS MANAGEMENT

Course Code bus 111

Idea 1
Initial analysis

Picturesque events specialist

Resource Requirements
Resources
1
...


Equipment

Planning
Co-ordinating
Executing
Events
Consultancy
(budget
planning,
reception setup,
event
scheduling,
etiquette advice
etc
...
Visual Aid-2
...
Cameras/camcorder
4
...
Tents/bouncy castle
6
...
Cutlery
8
...
Sound Systems
10
...
Coloured lighting

3
...


Finance

$50 k – employees

Ability to
Commit
6 laborers
1 Gen
...
budget
$1500 per day
$50K/ month
Rental @$3K

Rank

HIGH

HIGH

HIGH
MEDIUM

5
...
00)
and seventy percent (70%) of our time and effort to the initial set-up of the business
...
In the event the business fails, risk would be absorbed
...
Family life
would be interrupted but discussions would be carried out with our family members for them to
be aware
...

However, personal integrity would not be affected since this would be treated as a stepping stone
and only makes me (manager) stronger in the world of business
...
In fact, lower prices are very
often associated with poor service quality
...
Picturesque Event Specialist intends to aggregate a complete range of consulting and
events services such as weddings, anniversaries, birthday parties etc under one roof
...
In essence, to attract people, our
clients’ wishes become our commands
...

Threat to Sales – In order for competitors to meet or exceed our quality, this can only be
determined by the customer through surveys, such as comment cards and questionnaires
...
Example, membership club
such as discount cards
...

Hence, by utilizing numerous supplier contacts that the company owners have established
competitors will not be able to lock us out of suppliers
...

Threat to Operational Financing – During initial set-up capital and recurring expenses may be
tough but as the business establishes itself and gains market share, it should be in a position to
manage its operations and finances to firmly stand its ground
...
Hr Skills

2
...
Computers
2
...
All in-one printer
4 desk/ chairs

Ability to
Commit
1 Gen
...
Building

30 x 30 office space

4
...
00 to set up

6
...
$5k
YES

MEDIUM

low

Evaluation
Business Idea

Rank

Resource Requirement
Personal Risk
Business Risk

Low - Medium
Low
Low-Medium

RISK TOLERANCE
Personal Risk –This type of business is easy to start and requires little up-front capital, it has the
potential to be quite lucrative
...
00 of personal funds to start this business venture
...
However, in the event the business fails,
discouragement would not step in
...
This failure would be embraced and taken as a
challenge
...


Business Risk
Threat to Profit Margin – Existing competitors such as Digi Data and Illuminat are big names
in the networking arena
...
To bypass competitors primary services offered will be hourly technical aid
though the local market for this business is not new
...
Since they would be already
established, discounts would be offered
...
However if Data Quick follows its plan of following fast and reliable technical
assistance it should be a lucrative business
...
Since
computer consulting start-ups are ideal entrepreneurial opportunities with very low start-up costs
...


Evaluation
Business
Idea
Idea 1

Idea 2

Resource
requirements
Human
Resources
Equipment
Building
Finance
Human
Resource
Equipment
Building
Finance

Rank
High
High
High
Medium
Medium
Low
Low
Medium

Risk
Rank
Tolerance
Personal risk Lowmedium
Business
Medium–
risk
high

Business
potential
medium
high

Personal risk Low
Business
Lowrisk
medium

Lowmedium

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