Question

Nina and Hansa are beginning a project to market sets of garden tools locally. They intend to sell a small set for Ghc10.00 with a profit of Ghc2.50 per set, and need to identify realistic objectives in relation to their local community within Accra metropolis. They plan to look at advertising rates for the local newspapers and get population figures from their suburb. They will relate their promotional budget to expected sales and profit, and they plan to set a timescale

Required:

a) Discuss the framework for apportion objectives

b) Using the framework, explain how you will apportion the objective of the business above between Nina and Hansa

Answer 1

Answer a:

The framework for apportion objectives are as follows:

1. Dividing the work of identifying the advertising rates of the newspaper

2. Conducting a research so as to identify the number of target customers that are available in the population of the surrounding region.

3. Preparation of the promotional budget

4. Forecasting expected sales and profit

5. Finding a correlation between promotional budget and expected sales and profit by using correlation analysis theory.

6. Preparing schedule of achieving the objectives.

Answer b:

The apportion of the objectives of the business above will be carried out according to the expertise of Nina and Hansa. The educational level and the experience level will also be the guiding factor for apportion of the above objectives. Moreover, their level of interest and motivation to handle a particular task will also be taken into consideration while assigning the task. Both, Nina and Hansa will be getting the tasks that would be time bounded and as per the predefined schedule. They would be required to accomplish their tasks on the basis of the pre developed standards and quality parameters for conducting the tasks.