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Aileen O'Rourke established her ladies fashion business and label, 'AORA' almost three years ago - Leaving Cert Business - Question A - 2001
Question A
Aileen O'Rourke established her ladies fashion business and label, 'AORA' almost three years ago. Aileen had studied design at college and had graduated with distinc... show full transcript
Worked Solution & Example Answer:Aileen O'Rourke established her ladies fashion business and label, 'AORA' almost three years ago - Leaving Cert Business - Question A - 2001
Step 1
Illustrate two areas of control that you would recommend to be put in place immediately in the business. One reason in each case and reference to the above text in your response.
Answer
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Financial Controls: Aileen needs to establish robust financial controls to manage the cash flow effectively, as the business requires an injection of capital to expand. This is crucial for ensuring that resources are allocated appropriately.
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Inventory Management: Introducing strict inventory controls will help Aileen monitor stock levels and avoid delays and shortages in supplying products. Given the growing competition indicated in the text, this control becomes essential for maintaining quality and availability.