Issues in Small Business Management Essay Example | Topics and Well Written Essays - 1750 words

Issues in Small Business Management - Essay Example Some of the initiatives taken by Australian government for small business growth include market study and identification of business opportunities in Australian markets for small entrepreneurs. This report emphasizes the importance of home based businesses in Australia that take up almost 67 percent of total small businesses in the country (Commonwealth of Australia, 2004). Many potential opportunities to start home based businesses in Australia have been provided to small business entrepreneurs in this document. Annual Review of Small Business series is another effort to provide comprehensive review of small business sector in Australia and develop a future outlook based on current performance. This report is published annually by the Department of Industry, Trade and Resources to facilitate small business development and growth. It provides case studies of small business organisations and also contains results of surveys conducted for small businesses across Australia. Other important contributions to small business sector include publications highlighting factors that should be taken into account while establishing small businesses; the areas where government support can be sought; best practices and guidance for small business managers to develop business plans; taxation structure; and other similar information that are usually required by all small business owners before starting on a new business and then to maintain a steady business growth. In short, the website provides a load of information targeted towards resolving all queries of small business sector companies. Another website where a variety of information is available is http://www.business.gov.au. References Commonwealth of Australia. (2004). Home Based Business - Local Opportunities [Online]. Available from: [Accessed August 20, 2007]. Department of Industry, Tourism and Resources. (2007). Office of Small Business - What we Do [Online]. Available from: [Accessed August 20, 2007]. Question 2. The Federal Privacy Act of 1988 was enacted to protect personal information of an individual from public disclosure without his/her approval. Effective from 21st December 2002, some small businesses including non-profit and unincorporated associations are required to comply with the Privacy Act (Federal Privacy Commissioner, n.d.). As per the information provided by the Office of Federal Privacy Commissioner, "any small business that: 1. trades in personal information; or 2. is related to a larger business; or 3. provides health service and holds health records; or 4. is a contractor that provides services under a Commonwealth contract" has to comply with Privacy Act of 1988. The Act requires small businesses to do the following key activities in order to ensure privacy of information: To inform people as and when their personal information is to be collected and its intended purpose. To ensure that the personal information is used only for the stated purpose it was collected for; or the consent from relative person has been obtained to use it for other purposes as well. To "pass on personal information only for the reason you collected it, or in ways people would think reasonable, unless you have consent or the

Mercedes-Benz Case Study Example | Topics and Well Written Essays - 1750 words

Mercedes-Benz - Case Study Example The opportunities and threats section will be generated from Mercedes-Benz's PEST (Political, Economic, Social, and Technological) analysis (Strickland & Thomson 2004). Mercedes-Benz has become synonymous with luxury cars. In a global scale, the name enjoys strong brand equity among consumers (Daimler Chrysler 2008). Mercedes-Benz is known to be the best symbol of luxury in automobiles. Armed with the heritage of pioneering innovation, Mercedes-Benz continues its quest of bringing the best products in the market through the use of advanced technology including its Smart cars portfolio. The company's primary objective is to "set new standards in the global automotive industry" (Daimler Chrysler 2008) which they accomplish by embarking on intensive research aimed at identifying and responding to anticipated customer needs and demand. Mercedes-Benz is passionate in shaping the "future of mobility" (Daimler Chrysler 2008) through the introduction of more efficient cars. Mercedes-Benz makes use of Advanced Design Studios in order to develop cutting edge designs (Daimler Chrysler 2008). Technology which produces inputs quickly and at high precision is also being utilized in car design and manufacture. Another is becoming a more s... of the company to become a socially responsible entity is integrated in its effort in creating modern cars which are less damaging to the environment. Mercedes Benz boasts of being the first automaker to run the most tests on fuel cells in its commitment of having zero emission mobility (Daimler Chrysler 2008). Other efforts are aimed at offering the best working environment for all its employees and environment friendly automobiles (Daimler Chrysler 2008). Weaknesses: Secondary in the Mercedes-Benz's set of objectives are maintaining investor relations through profitability. However, the division has been having recent financial blows which can be attributed to the deterioration of its image in the world market (Landler 2005). During 2005, investors have been weary of the company's financial performance as Mercedes Benz reports only 2 million during the last quarter compared to the 784 million it recorded in the same fiscal period (Landler 2005). The declining performance of the stock of its parent company in the market is another indication of its deteriorating financial performance (Figure 1). Figure 1. Stock Price of Mercedes-Benz's Parent Company Daimler Chrysler (August 2007 to July 2008) The weak financial performance of Mercedes-Benz in the market can also be an indication of having not enough funds to allocate to the company's endeavor. Failure to become profitable will further push stock price down. As stated in the previous section, Mercedes-Benz has been recognized as a symbol for luxury. Ironically, one of its pressing problems is in the aspect of product quality. During the late 1990s and early 2000s, it has been noted that the quality of Mercedes-Benz's passenger cars has been in question as indicated by the result of objective measures (Edmondson