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Managing Communications, Knowledge and Information

In: Business and Management

Submitted By kalidjogo
Words 548
Pages 3
Task 1.
Starting up a new business can be both demanding and rewarding, and for those looking to establish themselves in the world of retail, the choice can present unique challenges. There is the initial decision over whether to establish the business as either a bricks-and- mortar operation, or whether to go completely online. Then there is the competition - the retail sector is tough and it is worth bearing in mind that any business no matter how unique, is going to have to compete, not just with similar retailers but with a wide variety of different shops for the consumer spend. For this task you are required to develop a report which will guide the audience through the process of setting up a business. The first part of your report should include the following:
1.1: Discuss the range of decisions to be taken. AC 1.1.
1.2: Examine the information and knowledge needed to ensure effective decision taking AC 1.2.
1.3: List internal and external sources of information and understanding. Assess these sources and justify their suitability and reliability in relation to the business start up. AC 1.3
1.4: Recommend any improvements in the methods used in the selection and analysis of information needed for the business start ups. Justify your answer. AC 1.4
For the second part of the report you are required to develop strategies to increase your personal networking skills and your involvement in the decision making process.
1.5: Identify stakeholders for a decision-making process in relation to starting up above mentioned business. AC 2.1
1.6: Make contact with those identified and develop business relationships for your organisation. Discuss ways to make contact with these stakeholders and methods you should use to develop a business relationship with them. AC 2.2.
1.7: Prepare a plan on how to involve those identified in the decision making. AC 2.3.

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