Suppose you have a newly booming culinary business based in the heart of Johannesburg. As a result, you want to make use of Mr. Delivery’s services to deliver your home‐cooked meals to the surrounding areas. Use the below guidelines for purchasing services and explain how you would use these guidelines to assist you in your use of Mr. Delivery’s services. 1. Have policy on compliance  2. Have a clearly  defined scope of work 3. Establishe a suitable organisational stru

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
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Suppose you have a newly booming culinary business based in the heart of Johannesburg. As a result, you want to make use of Mr. Delivery’s services to deliver your home‐cooked meals to the surrounding areas.

Use the below guidelines for purchasing services and explain how you would use these guidelines to assist you in your use of Mr. Delivery’s services.

1. Have policy on compliance 

2. Have a clearly  defined scope of work

3. Establishe a suitable organisational stru

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Step 1

INTRODUCTION:

There are various methods by which a new venture can be effectively managed. The most important thing is to have a clear and concise plan for the venture. This plan should be designed in such a way that it takes into account all the resources available to the venture and how these can be utilized efficiently.

It is also important to have a clear understanding of the goals of the venture and what needs to be done in order to achieve these goals. Without a clear understanding of the goals, it will be very difficult to effectively manage the venture.

Understanding the market well is another crucial component of managing a new business properly. This entails having a solid grasp of the target market's needs as well as the competition. It will be quite challenging to make the enterprise succeed without a solid understanding of the market. 

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