Farmers Market Enterprise is owned and run by the Nsiah family and have over the years been known for their fresh vegetable products throughout the town. The employees of Farmers Market Ent. are mainly family members and are not recruited based on their skills or qualification. Training is mainly on the job and is done by senior family members with more years at the business. The business has been good and could be described as a market leader in the town and they pride themselves in offering superior customer care. Whenever a customer has an issue with their products they are always open to replacing the defective product at no cost to the customer. The defective products are sold off at a discount. Six months ago, a new shopping mall opened in the town offering fresh vegetables and providing stiff competition to the Nsiah family business. Patrons of this mall rarely experience product defects and hence are increasing their patronage of the mall’s products. Mr. Nsiah the head of the business is at his wits end and is struggling to keep the family business afloat due to a decreasing customer base and rising cost of business. Upon your return from the university you join your father, Mr. Nsiah in the family business and have to find innovative ways to compete favorably. Analyze four business performance indicators you will suggest to Mr. Nsiah to help improve the competitiveness of Farmers Market Enterprise.
Farmers Market Enterprise is owned and run by the Nsiah family and have over the years been known for their fresh vegetable products throughout the town. The employees of Farmers Market Ent. are mainly family members and are not recruited based on their skills or qualification. Training is mainly on the job and is done by senior family members with more years at the business. The business has been good and could be described as a market leader in the town and they pride themselves in offering superior customer care. Whenever a customer has an issue with their products they are always open to replacing the defective product at no cost to the customer. The defective products are sold off at a discount.
Six months ago, a new shopping mall opened in the town offering fresh vegetables and providing stiff competition to the Nsiah family business. Patrons of this mall rarely experience product defects and hence are increasing their patronage of the mall’s products. Mr. Nsiah the head of the business is at his wits end and is struggling to keep the family business afloat due to a decreasing customer base and rising cost of business. Upon your return from the university you join your father, Mr. Nsiah in the family business and have to find innovative ways to compete favorably.
- Analyze four business performance indicators you will suggest to Mr. Nsiah to help improve the competitiveness of Farmers Market Enterprise.
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