Advanced Certificate in Entrepreneurship

and Small Business Management

OSC2402 Small Business Management - Assignment 3

Name: M U P Hisna Shara

Registration ID: 224646964
Student ID: S24008178
Course: OSC2402 Small Business Management
Center: Polgolla
Contact Number: 0765928746
Number of pages in the assignment: 6
Registration number: 224646974

Q1. Assuming you have recently started a small business, discuss how you would use new
technological techniques and methods to grow and expand your business. Provide practical
examples for your answer.
Today it can be stated that technology has even greater control than the rest of the aspects in our
lives. In any case, it is evident that it is necessary for any business person to be always ready and
informed on the new technologies of the business. These are designed to reduce most of our
burdens, therefore why not take the best advantage of it? Here, are the examples how it is used
on the right way.

➢ TV advertising
➢ Social media influence
➢ Printing leaflets and distributing or billboards
➢ Online purchasing and coupons
➢ Delivery options
➢ Having an online sites for the business/ e-platform
➢ Virtual reality advertisements
➢ Using upgraded machineries and technologies
➢ Transaction processing system
➢ Having an online presence via mobile application

1. TV Advertising:

Basically, TV advertising means promoting a business or a product through commercial

advertising via government, public, and private channels. Which has a wide range of viewers,
and that's a great way to promote one's business and gain potential customers

Practical example:

When choosing a TV channel, you should choose one that is popular and has more viewers. You
should choose the correct time to commercialize your advertisement. For an example on a more
popular show like cricket matches, football matches, morning or afternoon news, reality shows,
and especially political shows, which have a wide range of viewers. The advertisement should
contain simple and eye-catching visuals and great audio too, with the correct way to convey the
business or product's uses. Maybe you offer coupons or discounts to attract the customer more.

2. Social Media Influence:

Social media has a great influence on nowadays people's opinions. There are millions of
platforms that we can use to promote our business. Not only that, we can use the influence of
social media content creators or famous celebrity accounts to promote our business.

Practical example:

1
Creating an online page on social media and managing it is a great marketing strategy. Creating
content related to our business and promoting or uploading it to our social media will help.
For example, if we are doing a cake business, we can create a page for the business and upload
videos, photos, and content for the page to gain views on various platforms.
Specially, we can use the help of food bloggers and food-related content creators with a good
follower base to promote our business on their pages to gain more customers for the business.
And improve it.

3. Printing Leaflets and Distributing Billboards:

Distributing printed leaflets about our business is a brilliant idea. We have so many advanced
technologies and techniques we can implement on our leaflets to create better attractions like
graphic design, data printing, and 3D printers to encourage people to read them. Nowadays, the
billboards have more advancement; not only do we have the regular billboards on the road, we
also have digital billboards, 3D billboards, and interactive billboards for better attractions. If we
use these technologies in the correct way, we can expect great marketing for the business..

Practical Example:

For a soap business, we can create visually appealing leaflets using 3D or advanced graphic
designs to capture attention. Distributing these leaflets in high-traffic areas, such as shopping
districts or busy event locations, can maximize visibility. Similarly, digital billboards, like those
found at popular malls such as Havelock City and One Galle Face Mall, provide an excellent
platform for promoting our products. Utilizing these digital billboards allows us to reach a large
and relevant audience, potentially increasing customer engagement and driving higher sales.

4. Online Purchasing:

For the easier purpose, generally people prefer online purchasing. It's easier and more
convenient. We can improve the online purchasing by giving coupons and discounts to gain
more customers.

Practical example:

If we are doing a clothing retail business. Online purchasing would be an added bonus to the
business. For example, if our business is located in a rural area, we can improve our business and
product sales by providing online purchasing methods. We also can add new customer coupons
and discounts to improve it to a greater extent for the success of the business.

5. Delivery Options:
Offering convenient delivery options is essential for enhancing customer satisfaction when
purchasing online. Technological advancements in courier services, postal services, and personal
delivery services have simplified the process, allowing customers to easily track their orders

2
using QR codes. This makes the delivery process more transparent and reliable, improving the
overall experience for the customer.

Practical Example:

To ensure customer satisfaction, I would collaborate with reliable delivery services such as
DoorDash, Prompt, and Kapruka. These services provide convenient, trustworthy delivery
experiences. Some courier services offer cash on delivery (COD) options too. Having better and
more convenient delivery options is a must for a small, improving business.

6. Having an online site for the business/e-platform:

E-platform is a great technological improvement for the expanding business to build their market
value and place in today's world. It's convenient, and it's a 24/7 availability online service. A
platform that we can customize to our likings for a better experience for customer satisfaction.

Practical example:

For example, if I'm doing a cosmetic business, it's ideal to maintain an e-platform, which will
provide a more convenient and secure transaction. We can customize it to our advantage by
adding brand, product, colour, shade, and quantity for the cosmetic business. Not only that, we
can also add delivery or fast delivery services, online payment options like PayPal and eBay, and
many more options to enhance it more for a better experience

"In conclusion, in the modern world, technology is a very important enhancement

for the improvement of small businesses. Day by day, the technologies keep
getting better, updated, and convenient for customer satisfaction and business
owners to improve their businesses. If we implement the technologies in the
correct way on our business, not only will it improve our business, it can also
improve our business to a greater success. Technologies like TV advertising, social
media influence, printing leaflets and distributing billboards, online purchasing,
having multiple delivery options for a safer delivery, providing an upgraded e-
platform for a greater shopping experience, using upgraded technologies, having
an online presence through mobile applications, and using virtual reality to
visualize the product. These technologies are getting upgraded; the only thing we
need to do is keep updated on technologies. We will face problems while
implementing these technologies, but it's not that hard if it gets our business to
greater success in the future."
Q2.
"Only large-scale businesses need to follow ethics and showcase socially responsible behavior.
There is no need for small businesses to think about business ethics and ethical behavior as they
are small in scale and not frequently monitored by the authorities" Do you agree with the above
statement? Justify your answer with examples.

3
I strongly disagree with the abovementioned statement. If we are planning to succeed in the
future, the business needs to maintain a good ethical background regardless of the size of the
business. "Every business needs to maintain good ethical behavior and ethics." Here are some
reasons why.
➢ Maintain a good ethical background
➢ For future growth and success
➢ For trustable connection with customers
➢ To avoid legal related problems
➢ To gain leverage by showcasing a responsible business
➢ To avoid social media influence on people
➢ To maintain a respectful business in society
➢ Attract employees and forming connections

1. Maintain a good ethical background

By maintaining a good ethical background. The business can gain a trustworthy environment,
which will increase customer sales. Customers always look for a secure transaction background
while shopping, like wise investors, creditors, and suppliers look for the same thing before
approaching a business.

Example:

If I'm going to start a small hardware business, I need supplies to maintain the business. If I'm
not good at maintaining a good ethical background, the supplier wouldn't approach my business
because of their consciousness. Which will decrease the growth of the business. Maintaining a
good ethical background regardless of the size of the business will have a good overall
performance.

2. for future growth and success

When a business is growing, it needs more financial support to sustain stability. The business
should maintain a positive reputation, an ethical background, and a secure working environment
to achieve the said financial support.

Example:

A small grocery shop in the process of expanding can expect investors to invest in their business
for greater success, or they can seek financial support from loan lenders on a credit basis.
Overall, we need to maintain good ethics while maintaining a business for greater success.

3. Trustable Connection with Customers

Customers are the key focus of a business. To build a connection with customers, as a business
owner, we need to offer honesty, trustworthiness, good-quality products or services, privacy
protection, socially responsible behavior, and, overall, good customer service.

4
Example:

A successful business is built on its efficiency and customer reviews. For example, a beauty
parlor needs positive reviews of its services and products. If they lie about their services or offer
cheap treatments that cause health issues for customers, they will fail as a business. Whatever we
do, we must always be morally conscious.

4. To avoid legal related problems

The size of a business doesn't matter when it comes to legal problems. By ensuring and
protecting the legal procedures of the business, we can sustain future legal-related problems like
income tax, licensing and permits, marketing laws, and environmental rules.

Example:

A small business, like a bakery, has initial procedures such as registering the food premises and
obtaining the necessary permits to start the business. If the correct documents aren't provided
when health or legal authorities inspect the premises, they have the right to take legal action,
including lawsuits. Therefore, before starting or continuing a business, all legal procedures must
be completed as a precautionary measure.

5. To Gain Leverage by showcasing a Responsible Business

Without responsibility, there is no value in a business. A business should always showcase its
concerns about environmental issues, customer needs, employee welfare, and societal impact to
maintain leverage in both society and the market.

Example:

A small business like a laundry service can showcase its concerns about environmental pollution
by implementing new techniques to prevent the draining of used water into rivers and using eco-
friendly detergents. This will help prevent water and environmental pollution. By adopting these
practices, the business can ensure a positive impact on the community. In return, the community
will likely show their support.

6. To Avoid Social Media Influence

Social media is an improving technology in today's world. It is becoming a marketplace for
businesses, with people posting reviews. Nowadays, many individuals make decisions based on
social media reviews.

Example:

For example, if I’m running a catering business, it’s ideal to maintain a social media presence to

5
gain more customers. If I don’t provide the customers with the correct orders or serve non-edible
food, they will leave negative reviews on our pages or other popular platforms, causing others to
avoid our services. This can be avoided by maintaining an ethical background and consistently
providing the best for our customers.

"In conclusion, the size of a business does not determine the need for ethical
behavior. Every business, whether large or small, should prioritize moral thinking
and ethical practices. While larger businesses may face more monitoring, small
businesses are still accountable to both government regulations and societal
expectations. By maintaining ethical standards, fostering trustworthy relationships
with customers, and building a respected reputation, businesses can avoid legal
issues and negative social media attention, leading to greater long-term success."