Development and Learning Applied Growth Assignment
Q1. We’ve talked about four growth strategies – market penetration, market development, product/service development and diversification. Use the Emma & Tom’s case material to identify one of the four strategies they have used and explain how they implemented it in the business.
Q2. Thinking about entrepreneurial traits and decision-making strategies, do you think small business owners are more likely to use a systematic or bounded rationality approach to decision making? Why?
Q3. Emma & Tom’s label operations management as the “risk of real” because they are producing a fresh product with short use-by dates. If you were the Production Planner, what key information would you have on your dashboard to help with production planning to ensure orders are filled, ingredients are available and wastage is low? Explain why.
Q4. Wolfe & Patel (2019) argue that autonomy for the self-employed can be dangerous. Why? In your opinion, what could you do to ensure the freedoms of self-employment support good mental health?
