Business studies homework help

| January 5, 2016

Small business growth and development

Answer the following questions

1. Using the six inventory drivers as described by Dennis Lord in his article, “Inventory: The necessary evil?”, outline each of these drivers describing what each is and what the small business owner should do to ensure proper inventory.

2. In Andrew Atherton’s article, “Preparing for business start-up: “pre-start” activities in the new venture creation dynamic,” he describes a guide for developing enterprising skills and capabilities. Identify where you are in this five step process and what you need to do to reach the next level.

3. In the article, “Pricing custom products without a standard cost system,” Jean Cunningham discusses the issues of pricing a custom product. What are the two methods she discusses and which method would you choose as an entrepreneur and why?

4. In the article, “The real cost of carrying inventory,” Dennis Lord discusses the issues of too much inventory. According to the author, how should the small business owner calculate its inventory? What is the most efficient way to figure out how much inventory is too much?

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