GEOGRAPHY AND HISTORY

 1. Most small business owners are willing to try new approaches to make their businesses more successful. 2. Small businesses understand customer needs, identify new opportunities and fix problems quickly and efficiently. 3. Small businesses can quickly implement new business practices and adapt to changing market conditions. 4. When pursuing new opportunities, many small business entrepreneurs experiment and improvise. They accept failure as part of the path to success. 5. Small businesses are adaptive at doing with less. The resource constraints lead to their innovative mindset. 6. Small businesses traditionally rely on strong social networks to share information needed for innovative thinking.

 Change refers to giving a completely different form or appearance to an object. It involves transforming an object into a completely different one. It is inevitable in organizations. IMPORTANCE OF CHANGE 1. Adoption of new technology. Adoption of new technology is common in most organizations and this has made them increase productivity, for instance growing communication technology can enable business leaders search for experts online through search engines. 2. Response to customer needs. As the world evolves, customers need change and growth, creating new demand for new types of products and services and opening up new areas of opportunity for companies to meet those needs. This can be achieved through change. 3. Determines direction of economy. The economy has both positive and negative impacts on organizations and both can be stressful. For instance, in a strong economy, increasing demand for products and services will mean that companies must consider expansion, that is, addi...

 • Sex It refers to the biological differences between a male and female. • Culture It refers to more permanent rules, ways of behaving and thinking of people in a given community. • Society Is an organized body of people sharing common beliefs, attitudes and modes of action within a given social/political boundary. • Division of labour There are assumptions that there are things men can do or cannot do and which women must or must not do. The result is that in many societies women tend to end up with a heavier work load than men. • Labour market Occupational discrimination in employment (hiring, tenure and promotion) and in lack of child care facilities may discourage career aspirations in women and limit their contribution to development. Many times they are given subordinate positions even if they have the same qualifications which men for the reason that they have a double role, that is, of home care and their profession. This is demoralizing to women. • Access It is the means ...

  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...

 There are many possibilities for one who wants to start a business. These include; 1. Retail or wholesale type of business Retail businesses sell goods directly to the consumers usually in small quantities. Wholesalers buy goods often in large quantities from manufacturers or importers and then sell them to retailers and other distributors. 2. Franchise or independent type of business Many established companies offer franchises which are basically copies of their companies. If one buys a franchise, he/she is buying the right to sell the parent company’s goods/services in a specific area. Besides paying a franchise fee, he/she will also have to pay royalties perhaps additional fees to the franchisor. An independent business on the other hand is the one that one creates and nurtures on his/her own. Starting an independent business gives one the control and freedom that one will not get from a franchise operation. 3. Product or service type of business If one is a trained professiona...

 1. Determination of what one does best. Thinking about one’s interests will help him or her focus on his or her brain storming and give him or her the staying power to persevere through the tedious parts of starting a business. For instance, if one’s interest is dogs, then he or she can start a business that has to do with dogs. 2. One can take note of the obvious problem that he or she encounters in everyday life. He or she can keep a pad of paper and pen in the pocket, along the bed side table and start a pile of index cards with ideas written on them. Periodically one can throw away the ones that do not cut it and hang on those that might be before their time. 3. Reading newspapers. These contain ideas that one can adopt. Just every object that surrounds man has ever made someone a fortune. Therefore one can dream up ways to improve or rework those same products to create another big idea. 4. One can listen to and observe what is going on around him or her. Once one has acquire...

 (A)HOW TO PRESENT A PRODUCT TO THE CUSTOMER When presenting a product to a customer, an entrepreneur should consider; - The target customer’s needs. - Customer’s privacy, convenience, ability to use the product, e.t.c. - Giving samples, guarantee, e.t.c to back up the product. - Presentation aids like photographs, catalogues and charts to back up the product. (B)HOW TO BARGAIN WITH CUSTOMERS In bargaining with customers, the entrepreneur should; - Be a good communicator. - Avoid dominating the customer. - Try to convince the customer as to why the product is being sold at the offer price. - Give counter offers like reduction in price. - Offer in delivery services. (c)HOW TO GIVE PERSONAL ATTENTION TO CUSTOMERS - Understand customers’ wants and needs and bring products to satisfy them. - Sell products at the right prices, in the right quantity and quality. - Use the right promotion at the right time in order to meet the customers’ wants and needs identified. (D)HOW TO COLLECT OVERD...