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CASE STUDY 2 Fish Bois is a newly start up aquaponics business specializing in the sales of tilapia fish. The business has a loyal customer
CASE STUDY 2 Fish Bois is a newly start up aquaponics business specializing in the sales of tilapia fish. The business has a loyal customer base of roughly 15-25 clients who make purchases weekly. This customer base currently consists mostly of friends and family but is quickly growing as word of mouth spreads. Customers have the option to submit their orders via WhatsApp messenger for delivery or collection. Payments for orders are accepted in the form of cash, credit card, or online bank transfer. Fish Bois has not yet employed anyone and relies on the owners to conduct all business activities. As such, operating expenses are currently small, but are growing as the customer base expands, and there is demand for more products. Some of these operating expenses include the hiring of one driver, who is paid to deliver the weekly orders to the customers: o 2 bags of fish feed from a local supplier Ken Aqua supplies at $100.00 per bag 100 hatchlings from MOA fisheries at $2.00 per hatchling 100 packaging bags from Package-R-Us for $50.00 Three Months later: Fish Bois business is growing. Now they are receiving orders from restaurants and small supermarkets. This has warranted the operations of Fish Bois to almost double in size. Now, the firm has approximately 30 staff members who perform various back-office operations such as farm management, sales, and administrative works. Fish Bois require a system that does more than just record keeping o o END OF CASE 12. Discuss the following points as it pertains to the case in no more than 500 words: a) List four (4) financial activities required for this start up business. [2 Marks] b) List two (2) possible Low Range applications that can be used for financial activities and how these can assist a start-up business. [1 Marks) c) Explain four (4) business management tools now required by Fish Bois since they have grown to Medium-Large enterprise. [2 Marks] d) Explain the steps toward implementing a Social Media Strategy for Fish Bois. [5 Marks] [Total 10 Marks]
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