Small business and its challenges Case Study Example | Topics and Well Written Essays - 1000 words

Small business and its challenges - Case Study Example large term forecasts allows company time to better position itself in the market competitively and at the same time enable it to implement any sunrise(prenominal) approaches. Advance planning result help her reduce expenses, organize her resources, and cope with new trends in that locationfore avoiding unnecessary surprises. With regard to her services, she should be more focused on how to ensure that they be satisfying to her customers hence ensuring a stable operation that cigarette last for long.In every business, slight changes are necessary in order to better meet the needs of the target market. Therefore, it would be of benefit if Mort introduced slight changes or advance versions of her old service, such that she is able to keep up with the new trends. It will ensure that the business future is stable and at the same time keep the legacy of the family. The long term planning will help her know what modifications to ma ke and know when to implement them which will help her business stay afloat regardless of competition, (Morrell, 2001).Capital expenditure is cash worn-out(a) by an enterprise to obtain or renovate fixed, tangible, non-consumable assets, like buildings and equipment or a new business for a profitable purpose. Since Morts business has been there for long, is obvious that the building is worn out and might as well require renovation. She should, therefore, put aside some money that would cater for an overall upgrade. It can involve a little more partitioning of the entire building into a customized way that almost match the current models. Also, she should acquire newer versions of equipment used, such as freezers, in order to better preserve the bodies. Since technology is here to stay and new and advanced ones get introduced very often, it would be advisable if she embraced technologies such as computers. They will assist her in keeping records and vital information in good state a nd even upgrade her way of keeping tabs on which bodies are