BBA404- SMALL BUSINESS MANAGEMENT

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ASSIGNMENT

DRIVE FALL	2015
PROGRAM	BBA
SUBJECT CODE & NAME	BBA404- SMALL BUSINESS MANAGEMENT
SEMESTER	4
BK ID	B1715
CREDITS	2
MARKS	30

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1 Define small business and explain its characteristics. What are the common problems affecting small businesses?

Ans : Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. What businesses are defined as "small" in terms of government support and tax policy varies depending on the country and industry.

Small businesses are common in many countries, depending on the economic system in operation. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers, accountants, restaurants, guest houses, photographers, small-scale manufacturing, and online businesses, such as web design and programming, etc.

Characteristics of small business :

2.Explain the following

a) Porter’s five forces model.

Answer : Michael Porter provided a framework that models an industry as being influenced by five forces. These five forces are those competitive forces that shape every single industry and market. These forces help us to analyze everything from the intensity of competition to the profitability and attractiveness of an industry.

 1. Threat of New Entrants – The easier it is for new companies to enter the industry, the more cutthroat competition there will be. Factors that can limit the threat of new entrants are known as barriers to entry. Some examples include:

•                    Existing loyalty to major brands

•                    High fixed costs

b) SWOT analysis

Answer : Conducting a SWOT analysis of your business is actually kind of fun. It won’t take much time, and doing it forces you to think about your business in a whole new way.

The point of a SWOT analysis is to help you develop a strong business strategy by making sure you’ve considered all of your business’s strengths and weaknesses, as well as the opportunities and threats it faces in the marketplace.

As you might have guessed from that last sentence, S.W.O.T. is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis is an organized list of your business’s greatest strengths, weaknesses,

3 Explain various sources of Working Capital.

Ans : Working capital Definition:

Working capital refers to the funds needed by a business to conduct its daily operations, such as payment of wages, purchase of raw material, covering overhead costs and offering credit services. Working capital can be subdivided into two areas: regular working capital that provides a steady base for overall business objectives; and short-term working capital used to facilitate the day-to-day business operations. Sources of finance for working capital include bank loans, retained earnings, credit from suppliers, long-term loans from financial institutions, or proceeds from sale of assets.

Sources of Working Capital:

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