SMALL SCALE BUSINESS MANAGEMENT/ HOW TO RUN SMALL BUSINESS EFFECTIVELY?
INTRODUCTION
The main aim of this note is to equip you with adequate information on the concept and nature of Small Scale Business Enterprises, its characteristics and its roles in an economy.
Topics covered includes:
1) Management of Small Business,
2) Characteristics and Business goals of Small Business Enterprises,
3) Need for Small Business Enterprises,
4) Basic Concepts in Management, Management Principles, Marketing Strategy and Planning, Strategic Marketing Planning.
WHAT YOU WILL LEARN TO KNOW HOW TO MANAGE SMALL BUSINESS EFFECTIVELY?
1) Scope and nature of Small Business Management
2) Business goals and characteristics of Small Business enterprises
3) Basic concepts of Management
4) Management principles; Organizing, planning, staffing, controlling, directing
functions in Management
5) Marketing strategy and planning – definition of planning, the importance of planning
forms/kinds of planning and illustrate the flow of planning decision in a small
business organisation master plan, the role of marketing in the small business
organisation,
6) Definition of strategic marketing and marketing task to an entrepreneur, stages in
the procedure of marketing strategy planning.
7) Market analysis in the selection of market posture, coordination and control of
business activities strategy revision and continuity psychological barriers to
marketing strategy planning
8) Sources of information – definition internal and external source of information
(Federal government and its agencies, state and local government as external
sources of information
9) Elements of an information system, advantages and procedures involved in
developing records retention programme, uses of some information tools such as
manuals, reports and forms,
10) Ratio analysis and the limitations of ratio as a tool; budgeting and breakeven
analysis – definition, budgeting process problems of budgeting preparation, kinds
of budgets and the importance of budgets administration;
11) Illustrate how the Break-Even chart is constructed, changes associated with the chart
as any of the variables change.
12) Nature of the Marketing Mix- Price, Product, Place and Promotion
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