Personal Development And Ethics Assignment Example | Topics and Well Written Essays - 2000 words - 1

Personal Development And Ethics - Assignment Example The second part will consist of a reflective evaluation that will entail a detailed self assessment and analysis as a team member in the context of personal development. a. The main elements of a business are the various activities related to that business and the products offered. The products of my business will include baked cakes, cookies, biscuits and sandwiches. Business activities/services will include customisation, packaging, delivery and shipping of the products. Marketing will be done through news media and social networking. Knowledge: Managerial and financial knowledge is critical. The management must be headed by a competent team of professionals proficient in knowledge management. Identification of business liabilities and assets is essential for developing a sound financial knowledge of the business itself. Since large amounts of investment are to be made, money should be burrowed from a reputed bank. Key financial information like the annual report, balance sheet, etc. regarding the bank should be analysed by the management to evaluate the institution as a financier. Knowledge of assets and liabilities should be clear. For example, the loans secured will be liabilities while the food processing plant and the office building will be assets. Moreover, technological knowledge is also important. The management must have a sound understanding of the food processing machinery like the biscuit making and dough mixing machines, sugar grinding machines, sandwiching machines, etc. Food products machinery, eq uipped with computerised control systems, coupled with highly flexible, automated equipment lines, will increase the overall efficiency of the business (U.S. Department of Commerce, 1994). Knowledge of the market is also very important. Through surveys and research, the company must identify its potential customers and also sort out the resourceful suppliers. Skills: Management skills like emotional intelligence,