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MBA602 Small Business Administration

Question

Answered

Question:

Learning Outcomes:

LO1: Evaluate the skills required to manage the ongoing demands associated with small business proprietorship

LO2: Analyse small business management decision making and strategies for success

Assessment Description

Each student is to submit a 10-minute video presentation covering the following questions.

  • What is the difference between an entrepreneur and a small business owner? Which one are you or do you think you are? Why?
  • What skills are required to manage the on-going demands associated with running a small business? Which ones do you have? What are your skill gaps? What must you do to fill those gaps in order for you to have a successful business?
  • What is your passion? Do you think you could turn that 'passion' into a successful small business? Why or why not? Justify your answer using marketing research including trends locally, nationally, and globally depending on your vision and mission.
  • Research a small business owner or entrepreneur that you admire or aspire to be. State why you chose this person. Analyse his/her significant business decisions in their business journey; these can include those turning points in the business. For example, during COVID-19, many small businesses had to quickly ‘pivot’ to retain their business due to the restrictions. In this example, discuss what were some key strategies that helped them survive during that period. For others, note their small business success stories and identify what led to his/her success as well as what strategies helped overcome any key challenges.
  • It is important that you also cite references in your presentation reflecting on topics discussed in class.

KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy.

Answered the three areas with little explanation. Personal insights lacked depth. Skills and skill gaps discussion lacked depth. Strategies needed to be much stronger regarding how to fill those gaps in order to have a successful business. Identified passion but needed a much stronger explanation on how it could be turned into a successful business.

Answered all three areas with average explanations and personal insights. Needed more depth in the discussion on skills and skill gaps.

Strategies were clear regarding how to fill those gaps in order to have a successful business.

Identified passion with a clear explanation on how it could be turned into a successful business.

Answered all three areas completely with clear explanationsand personal insights. Clear on skills and skill gaps along with specific strategies how to fill those gaps in order to have a successful business. Identified passion and explained if it could be turned into a successful business.

MBA602 Small Business Administration

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