Small Business Management Report #2

Report #2
The purpose of report #2 is to describe how the individual you interviewed for report #1 (or someone else) manage their small business (under 25 employees). Use the following as the focus of your interview. In the report use the following questions as section headings (convert to declarative statements).
Situation/Purpose: Identify the company and identify the three most significant management challenges in operating the business. How did the owner deal with each of these challenges?
Describe the type of goals the owner set. If measurable learn why uses measurable goals. If not measurable, learn why the owner chose this type of goal. If no goals were identified learn why the own chose not to set goals. See the scoring rubric to guide you in responding.
What are the different ways the owner evaluates the financial performance of the business (3 or more methods)? Learn if the owner uses formal financial statements (e.g., budget, cash flow, income statement, etc.) Learn which statements are used, the frequency in which each statement used is reviewed and how the owner uses the financial information to manage the business. If none of these ideas apply, ask how the owner keeps track of the financial performance of the business. This is an important question to answer.
Identify and briefly describe five of the most important personnel policies (formal and/or informal). What makes these policies important to the owner? Explain.
Identify and briefly describe three of the most important customer service policies (formal and/or informal). What makes these so important? Explain.
Identify and briefly describe five factors that contributed to changes in the business over time. How did the owner deal with each of these issues?
Has the owner added additional product categories or services (or both) over the years? Identify and briefly describe each (minimum of three). Learn the reasons for selecting each category or service.
Provide two or more conclusions. These are your thoughts regarding what you learned.