NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JANUARY 2021 EXAMINATION

COURSE CODE: ENT 303

CREDIT UNIT: 3

COURSE TITTLE: SMALL SCALE BUSINESS MANAGEMENT

TIME ALLOWED: 3 HOURS

INSTRUCTIONS: 1. Indicate your Matriculation Number clearly

2. Attempt question one (1) and any other two (2) questions, (3) three questions in all

3. Question one (1) is compulsory and carries 30marks, while the other questions carry 20marks each.

4. Present all your points in coherent and orderly Manner

1. (a) The decision-making hierarchy of business firms typically contains three levels, discuss the three levels. (15 marks)

(b) The characteristics of a small business vary from one place to another but there are few similar characters related to a small business. Explain five characters of a small business (15 marks)

Total: 30 marks

2. (a) Even though small business enterprise has its importance, it is necessary to look at the problems facing small business enterprises. What are the problems facing small business enterprises?

(b) The universal principle of management has been highlighted by Henry Fayol known as fourteen (14) principles of management. Briefly explain 10 of the principle.

(20 marks)

3. (a) Describe Why Principles in Management are Useful

(b) Business people have attempted so mush while striving to get effective process of Planning. Explain 5 steps of the planning process

(c) Marketing Management versus marketing strategy

(20 marks)

4. (a) Strategic marketing planning is a five-step process, discuss the five steps

(b) An annual marketing plan serves at least three purposes, explain the purposes

(c) Briefly explain the contents of an annual marketing plan

(20 marks)

5. You are the owner of Fati‘s Pizza Shop in Umuahia in Abia State of Nigeria. Your business has been operating for the past four years and made a handsome profit, in the first three years. However, the current year‘s sales figures are bad with a 20 percent decline in turnover. Yesterday evening you listened to the news at seven and heard about the following major developments in the economy:

I. A decline in the inflation rate of 2 percent for the year.

II. A decrease in the interest rate of 2 percent for the past year.

III. An increase in unemployment of 5 percent, with specific reference to the high level of unemployment in the country.

IV. A growth in fast-food enterprises of 20 percent over the last year.

V. A decline in the per capita personal disposable income of 10 percent during the last year.

VI. New legislation whereby more females must be employed in the existing workforce. After listening to this news you spent the whole night thinking about it and the implications for your business. This morning you phoned the nearest branch of the Small Business Development Corporation (SBDC) for advice. The consultant advised you to do a SWOT analysis of your business. Draw up a list of its strengths and weaknesses, and current opportunities and threats. (20 marks)