Read and discuss the Case Study entitled, “Moon Works” on pages 557-558.
Read the Case Study entitled, “Moon Works” on pages 557-558. Then, answer all four questions at the end of the case.
I selected the most applicable cases for the class. Please be sure to back up your answers with facts from the textbook.
Please number each of your answers (1, 2, 3). This is very important so that I understand which questions you are responding to.
Please upload answers in a Word document
Case Assignment Grading Criteria:
Thoroughly answered all of the questions: 60 points possible
References to course material: 20 points possible
Spelling/Grammar at the college level: 20 points possible
Total: 100 points
Longenecker, J. G., Petty, J. W., Palich, L. E., Hoy, F. (2019). Small Business Management: Launching and Growing Entrepreneurial Ventures (19th ed). Cengage Learning.
One of the biggest challenges Lisa faces is managing her inventory. She has a small storage space and cannot afford to keep large quantities of raw materials on hand. This makes it difficult for her to fulfill orders in a timely manner and has led to delays and unhappy customers.
Another issue that Lisa faces is managing her production process. She is the only
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To address these challenges, Lisa has considered outsourcing some of her production to a manufacturer in China. This would allow her to focus on design and marketing, while the manufacturer takes care of production and shipping. However, Lisa is concerned about quality control and losing control over her brand.
Lisa could also consider partnering with a local manufacturer or supplier to help manage her inventory and production process. This would allow her to have more control over the quality of her products and maintain her brand identity. Additionally, she could consider hiring an employee or outsourcing some of her administrative tasks to free up time for herself to focus on design and production.
In conclusion, the case study of Moon Works highlights the challenges faced by small business owners in managing their inventory, production process, and overall workload. Lisa’s situation is common among many entrepreneurs who are struggling to keep up with increasing demand for their products while managing their business. The case also highlights the importance of considering various solutions, such as outsourcing or partnering, to address these challenges and maintain the quality and identity of the brand.