Question 1
Mr Lee has a stall selling chicken rice at Beach Road market. Many of his customers are elders. The business has been slow lately, and Mr. Lee is financially struggling especially with the recent inflation.

Mr. Lee’s son just graduated with a business degree. Mr. Lee asked his son for business advice. The son advised Mr. Lee that people are becoming more socially conscious and it could be a good idea if the business becomes a social enterprise with a social mission/impact. The son further advised that helping the elders is something that relates well with the public.

Mr. Lee currently sells a plate of chicken rice for $5 and the cost (excluding fixed overheads like rental) is $3 per plate. Mr. Lee decided to implement the following:

•  Increase the price of the chicken price plate to $8. The costs remain the same at $3. Mr. Lee believes the customers (except the elders) would be comfortable paying the new price.
•  Offer a 50% discount to seniors above 60 years old (they would pay $4 per plate).
•  Donate 20% of his net profits to charities for elders.
  You are a business consultant. Mr. Lee approached you to advise him if his business is a social
  enterprise.

Requirements
Write a report for Mr. Lee to advise him on the following:
(a) How will you determine if a business is a social enterprise? Discuss two (2) examples of social enterprises.

(b) Discuss if Mr Lee’s chicken rice business would qualify as a social enterprise. If his business would not qualify as a social enterprise, what could Mr. Lee do more to ensure that his chicken rice business is regarded as a social enterprise? To answer this subquestion, you need to recommend three (3) possible actions and how these actions satisfy the requirements to be a social enterprise.

Question 2
The 4th Asia Pacific Silver Economy Business Opportunities Report (2020 edition) identified the following top 10 business trends shaping ageing in Asia by 2025:
1. Dementia
2. Care technology
3. Fun rehabilitation
4. Healthy ageing
5. Rehabilitation tourism (wellness)
6. Longevity economy
7. Senior living and care communities
8. Loneliness
9. Remote healthcare
10. Local economy.
Select one trend from the above and briefly explain the selected trend and three (3) ‘business opportunities’ that could be provided from the selected trend. ‘Business opportunities’ mean opportunities to offer a product/service to satisfy customer needs related to the trend. For example, for the trend of “rehabilitation tourism” (wellness), an opportunity could be providing specialised tour packages for the elders.