NZ2457 Small Business Level 4 – New Zealand Certificate in Business Assignment Sample

This is an Assignment sample of NZ2457 Small Business Level 4 – New Zealand Certificate in Business. This qualification will give you the skills and knowledge to establish, operate, manage a sustainable business in any community.

This qualification is an all-inclusive course on how to start your own company from scratch or take over one that has been struggling with management for years. With this diploma under your belt, you’ll be able to create opportunities where there were none before by giving people what they want when they need it most!

Assignment Solution Of NZ2457 Small Business Level 4- New Zealand Certificate in Business Assignment Sample

Assignment Activity 1. Develop a business plan, and monitor your performance against the plan

A business plan is a written document that reflects the goals, objectives, and policies of the company. It should also include important information on organization; markets, products to be offered management, financing, statements, marketing plans, research, and development strategies. Monitoring performance against plan means meeting targets at planned milestones in time as well as making adjustments in response to unplanned events or market changes.

In order to have a solid business plan with financial projections for monitoring performance against plan, you will need these three documents compiled into one working binder: your budgeted income statement (income minus expenses), your estimated balance sheet (assets-liabilities), and projected cash flow statements (operating activities + investing activities).

Assignment Activity 2. Manage staff

If you’re running your own small business and have an employee, here are some points for effective management. Remember, it’s up to the manager to set a good example for employees.

Offer regular feedback and encouragement.

Encourage teams with suggestions of how they can improve their work—and don’t confuse constructive criticism with emotional criticism or put-downs. Make sure they know what’s expected of them at all times and communicate this effectively both verbally and through written communication (like email).

Have one-on-one meetings every week or two where reviews can be given. This is your chance for genuine coaching without interruption from other colleagues who may offer positive feedback but not much else in terms of mentoring or hands-on assistance.

Assignment Activity 3. Manage your business’s finances

Financial management is the process of tracking, planning, and controlling a company’s finances. Essentially, it is what we do to ensure that there are enough resources for investments in business development and other financial items. To accomplish this, we either plan for future expenses or hire an outside company to do so on our behalf through budgeting.

Additionally, monitoring cash flow – the relationship between earnings and expenditures – will help us know when to borrow money or repay it.

This includes forecasting income and calculating the break-even point (the point at which profits equal total costs). Balancing income with expenditures ensures that as you increase your sales volume, more of your revenue will actually go towards profit margins instead of expenses like advertising campaigns or food.

Assignment Activity 4. Manage your marketing activities

There are many aspects to managing marketing activities. Some of the more important considerations include the type and size of an organization, resources available, business objectives, industry cluster, competition, and geography. A detailed understanding of each one will help organizations identify opportunities for improvement in their current situation.

Teams need to strategize on how they’re going to navigate any obstacles that may arise during marketing activities and also make sure they take appropriate steps in order to assure future success with them.

Remember always keep your goals clearly in mind when making decisions about where to spend time and money because this will prevent you from taking misguided actions which could hurt your company down the road.

Assignment Activity 5. Customer service

Customer service is something that should be a top priority for any business. Your company is more than just the people you employ to do work, it’s also your customer base.

When you’re starting out and have a smaller budget, it may be difficult find someone with specific experience in managing customer service, so consider looking for team members who are willing to learn on the job from other employees or community college courses.

This can help get floor space management into your company at no cost to you while still providing the resources you need for this vital position.

Assignment Activity 6. Build effective relationships with your customers and other stakeholders

The first thing you need to know about building relationships is that there are two main types of relationships, which are cooperative and competitive.

Often time when your company interacts with customers in a business manner it’s considered a competitive relationship. However, if you’re using the marketing channel (such as Facebook) as opposed to sales markets, then the relationship is more cooperative – meaning that you’re providing value for visitors because they chose to come and read your content.

In other words, these potential customers find themselves in a comfortable environment where they want to learn about or buy products through online buying options without feeling as though their decision would weaken any ties between them and an organization.

Assignment Activity 7. operate within the legal and regulatory environment

The legal and regulatory environment is vital to make sure that companies use their power in the best way possible. This is usually achieved through a set of legal institutions, policies, and codes of conduct that provide some rules on the ethical behavior of companies.

These can be found within international agreements such as the UN Global Compact, European Union legislation such as GDPR, or in business legislation across countries with industry-specific legislation for industries like pharmaceuticals.

While laws alone can’t guarantee compliance (one needs good education and execution too) they are essential to prevent many common issues from arising. There’s plenty to learn about optimizing both themselves and their company by reading up on current regulations in place while also implementing solutions for areas where guidelines may not exist.

Assignment Activity 8. Grow your business.

1. Start with your customer.

What problems do they have? What solution does your product offer them?

2. Be fully transparent about what you do and how it works.

3. Measure and improve continuously, with diligence, dedication, and discipline – be relentless in the pursuit of efficiency while staying true to your original vision for being a meaningful force in our world.

4. Pursue every opportunity to increase knowledge, skill, experience, and wisdom (KES). Keep learning! Just when you think you know everything…..

5-day business challenge program will allow you to look at the whole picture of managing a business by increasing creativity, providing timely support during critical decision-making periods, sustainable solutions through intensive care.

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