CSB402 Operating Your Business Level 4 Assignment Sample

This is the assignment sample of CSB402 Operating Your Business Level 4 Assignment. CSB402 course is a subject offered by the School of Management and Marketing. The class has been designed to provide students with an overview of the key concepts, processes, and practices that underpin operating their business.

Students will be able to undertake self-assessment and develop strategies for running their own business or being a partner in another company. They can also explore social entrepreneurship as an option for managing risk through innovation in new markets. This post provides information on what this course entails for those who are interested in it!

Assignment Solutions of CSB402 Operating Your Business Level 4

Assignment Activity 1. explain the marketing mix for a small business

The marketing mix is the term used to describe a set of tools that a business uses to convey its marketing messages. The four elements are product, price, promotion, and place. They are often mapped out in the form of a square or rectangle with each element occupying one corner. The elements interact in complex ways but theory maintains that proper management of these interactions will lead to increased profitability for businesses.

1)The product is what you are selling (or providing) and deciding whether it satisfies customers’ needs as it’s designed or modified to match changing tastes and lifestyles

2)The price is how much you charge for what your business offers-it should be based on such factors as production costs, competition, and customer perception; advertising consisting of sales promotions.

3)Place refers to where products or services are sold including channels such as online or mobile device use (offline) retail location(s), trade shows, etc., and whether goods are distributed from the manufacturer’s own place of business or through independent distributors/agencies.

4)Promotion refers to the activities you will need to undertake in order for your employer to recognize and reward your work, while Place is the physical location where you’ll be working. It’s not a secret that it is possible for someone else to get a green card sponsorship because they have an employer who knows about their work on which this person has been teaching them how things should be done while also reaffirming that with some hard evidence or testimonial.

If the trainer does not plan on sponsoring their employee then this means that he or she can only provide limited opportunities within their own country of residence for this individual and they might as well start looking for another one before they know it.

Assignment Activity 2. Develop a marketing plan that aligns with the business plan of a chosen business

The best marketing strategies consider the business strategy, the product message, and the market segment. To successfully find a way to tie these three aspects together, it is important to focus on understanding what resonates with each particular customer group.

If your chosen company has a large demographic that goes for luxuries or deals on entertainment products in volume purchases then you might start by creating tailored direct mail campaigns. This will require fine-tuning your mailing list to provide relevant offers at opportune times. If the greater volume is necessary for this type of model then you might want to supplement with some online advertising effort as well as include cross-promotional social media tools like an affiliate platform.

Assignment Activity 3. develop strategies to manage staff and human resource processes for the business

Steps to Manage Staff and Human Resource Processes for the Business- The management should be informed of the staff members’ grievances, according to reports. A focus on good quality feedback is also advised by many experts in the field. It has been found that a lot of people will want more power, responsibilities, and rewards from their work than can be provided. This often comes out as dissatisfaction with how they are being managed or rewarded for their work.

Therefore, it is important that companies have policies in place about what constitutes behavior that merits corrective action such as warnings or dismissal; this increases accountability among managers thereby forging better leaders within organizations -specifically those who may have disciplinary issues with subordinates.

Assignment Activity 4. Develop a plan to employ appropriate technology relevant to a small business

Developing a plan to employ appropriate technology is as simple as properly identifying the needs and capabilities of your business. Once these points have been established, you can proceed with selecting from available technologies which will serve your company best.

Technology is important for a small business not just to automate, but also to reach their customers more effectively. A small business should create a use case and then find the appropriate technology and solution. For example, with a restaurant account app on Facebook or mobile site and apps that offer coupons; it would be easy to distribute coupons digitally as well as in-person options.

Websites like YouMail also support telephone voicemail mailbox in an email format, which works especially well for restaurants due to the fluctuating hours of operation. With this type of service, businesses are able to choose to update phone messages without having to answer calls during these off-hours so they can divert their attention solely towards customer experiences.

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Assignment Activity 5. Interpret financial information and control financial activities to effectively manage the finances of a small business.

Financial information and control are two aspects of the same thing. Financial control is the ability to manage the finances of a small business. With intention in mind, financial information should be interpreted as a critical source of data that acts as an input to monitoring, controlling, and reporting on these activities to effectively manage your small business’s finances.

In reviewing any enterprise finance statement or balance sheet, there are five key areas that must be examined:

1) cash flow.

2) profitability.

3) liquidity position.

4) asset utilization.

5) capital structure which comprises six statements (income statement, balance sheet, cash flow statement, etc.).

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