Entrepreneurial Management UNIT 4

Which of the following best describes supply chain management?

• The process of managing client appointments.

• The coordination of production, shipment, and distribution of products.

• The strategy for employee training and development.

• The planning of marketing campaigns.

Which one of the following is correct: Promoting new services and Treatments.

• Marketing

• Treatments Planning (operations)

• Financial Management

• Human Resource management

Select the three types of team that are correct.

• Problem-solving

• Self- managing

• Inspiring

• Cross-functional

Managing a beauty business involves three key phases: Planning, Implementing, Evaluating.

• True

• False

Entrepreneurs must perform key management functions. Which of these below are correcting?

• Planning

• Leading

• Decision making

• Organising

• Funding

What is an operations strategy?

• A plan that outlines how to allocate resources.

• A document that outlines daily operations.

• A method for tracking client appointments.

• A strategy for marketing beauty services.

What should you consider when choosing a business location?

• Accessibility to target clients.

• Proximity to suppliers.

• Cost of rent.

• Size of the space.

What are key components of an operational plan?

• Business location, operational goals, budget.

• Marketing strategies, staff training, client feedback.

• Product inventory, supplier contracts, service pricing.

• Client satisfaction, staff performance, service variety.

What is the purpose of a hiring plan?

• To fill skills gaps in the business.

• To manage inventory effectively.

• To create marketing strategies.

• To outline daily operations.

What are key performance indicators (KPIs)?

• Measurable goals to track business success.

• Strategies for improving client retention.

• Methods for training staff effectively.

• Plans for expanding service offerings.