Discuss a plan to address the decline in sales
Assignment Details
For many small businesses, management issues can be a challenge. Many owner managers know far more about the technical side of their business than about the managerial side. Management is the process of accomplishing tasks through people. For the small business owner–manager, it means relying on others for assistance, which can be difficult for the small business owner who is accustomed to doing everything themselves. The four key management functions are planning, organizing, directing, and controlling.
Consider this scenario: You own and run a bread bakery. You’ve seen a drop in business with the rise in low-carb diets. You thought it was just a fad. While your business has come back a bit, you’re concerned that the low-carb trend will last for quite some time. You see a couple alternatives. You could try to develop some recipes and sell lower carb bread. Or you could go the other direction and turn more to dessert items.
Discuss a plan to address the decline in sales.
Use all of the steps in the planning process, as well as the four management functions in your analysis of the situation.
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