Geography & History Notes | KCSE, NECTA, ZIMSEC & GCSE

ROLE OF SMALL AND MEDIUM ENTERPRISES IN DEVELOPMENT  1. Provision of social services, for instance, health units, schools, e.t.c 2. Development of infrastructure, for instance the transport network. 3. Providing government revenue through payment of taxes. 4. Provision of goods and services/products to meet society needs. 5. Providing a centre for training and developing local man power. 6. Provision of market for the society’s products. 7. Provision/creation of employment opportunities to society. 8. Participation in community development programs, for instance providing assistance to charities, welfare facilities, e.t.c. 9. Improvement of food security through processing agricultural products. 10. Providing information for research and study purposes to students and researchers. 11. Recycling waste that would have harmful effects hence cleaning the environment. 12. Improving the environment through planting trees. 13. Utilizing idle resources such as land, labour, e.t.c. 14. Spon...

  PARTIES TO BUSINESS ETHICS 1. The clients/customers who deal with the business 2. Employees 3. Government of a country or authority in which business activities take place. 4. Businesses which compete with the entrepreneur’s business. 5. The society within which the business is located. 6. The suppliers of business inputs. (A)BUSINESS ETHICS TOWARDS CUSTOMERS 1. Honesty Honesty should be in terms of the price charged for the quality and quantity of the goods and the delivery of products purchased by his or her customers. 2. Courtesy This is being polite, patient and sincere when dealing with customers. The entrepreneur should not sell expired goods to his or her customers. He or she should be seen providing a good service and not only interested in getting money from the customer. 3. Geniality The entrepreneur should be kind, cheerful and try to balance his or her temper when dealing with customers. He should never shout at or abuse the customer but instead try as much as possibl...

HERE ARE 7 STEPS INVOLVED IN PREPARING A BUSINESS PLAN  1. Selecting a business opportunity or type of business to engage in, for instance, trading business, service provision business, manufacturing, agro business, e.t.c. 2. Conducting market survey for a selected type of business. This involves gathering information from respondents by communicating with them. 3. Collecting all the relevant data concerning the different aspects of the business and establish the costs of different items like machinery and equipment, raw materials, transport, e.t.c. 4. Drafting the business plan. 5. Discussing the drafted business plan with technical/knowledgeable or experienced people in the similar business. 6. Making a final business plan. 7. Finalizing the business plan process by preparing an action plan for the implementation of the planned activities. The following are some of the reasons for writing a business plan; 1. To test the feasibility of the business idea. It enables the entrepreneu...

 These are businesses which are registered with the Registrar of Companies. For a person to start such a business, he/she must be aware of the licenses, labour laws, taxes and permits required to avoid breaking the country’s laws. ADVANTAGES OF FORMAL BUSINESSES 1. They are legally recognized. 2. They are properly organized. 3. It is easy for them to get loans from financial institutions. 4. They have a sound base for further growth and development. 5. They are reliable and somehow permanent and therefore it is easy to get skilled human resources. DISADVANTAGES OF FORMAL BUSINESSES 1. They are always governed by laws and rigid regulations. 2. They are not adaptable to changes. 3. They are not easy to start because of the involved procedural formalities.

  1. It helps the entrepreneur to search for, establish and disseminate organizational goals to the different departments in the organization. 2. It facilitates development of plans and strategies to achieve goals. Once goals have been articulated, strategies are evolved, discussed and communicated. 3. It facilitates the allocation of resources of the organization in the most effective way. This is done through agreeing on discussions and directives on how the resources will be deployed. 4. It facilitates identification, selection, development and appraisal of organizational members. 5. It helps an entrepreneur to implement organizational policies by giving instructions to subordinates and their supervisors. 6. It enables managers to influence, direct, motivate and create a conducive working environment for organizational members. This is done through written or verbal communication which involves giving workers instructions and guidance. 7. It enables the entrepreneur to get feedb...