Planning the future strategy of your business
Table of Contents
Yetunde, owns a florist and has been approached by her friend Peter about selling his soy candles in her shop for a 30% commission. Her shop is doing well and she was starting to think about ways to increase sales, but doesn’t know if adding another product would be the way forward.
- If you were Yetunde, what would you say to Peter?
- How could you find out if soy candles would be a good fit for the shop and its customers? Would it add to the overall sale value, or could it detract from flower sales?
- What other ways of increasing revenue, could Yetunde consider?
It is rare that there is just one way to respond to a scenario or situation, so do not consider that the responses you have to the above scenario will be judged as right or wrong. Share your scenario with a work colleague or friend and ask them to tell you whether they think you have responded appropriately. Ask them to challenge your response if necessary. You do not need to submit this task for assessment unless asked to do so by your assessor.