Small Business Enterprise

This document provides an analysis and report on a small business enterprise, Tangle Teezer Limited. It includes a comparison with a similar industry, strategies for improvement and strengthening, and an analysis of SEO and product life cycle. The document also includes a task on Dragon's Den rejection and recommendations for overcoming weaknesses.

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SMALL BUSINESS ENTERPRISE
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SMALL BUSINESS ENTERPRISE
Contents
TASK-1:......................................................................................................................................................3
Introduction:................................................................................................................................................3
Comparison of Tangle Teezer Limited with a similar industry:...............................................................6
Task 2..........................................................................................................................................................7
Task 3........................................................................................................................................................10
Task 4........................................................................................................................................................14
References:................................................................................................................................................18
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TASK-1:
Introduction:
To analyze and make a report of a small business enterprise, one must follow the Dragon Den
Series. The name of the selected company is Tangle Teezer Limited. The CEO of the company is
Shawn Pulfrey. As both the creator and CEO of Opus Recruitment Solutions, Shawn represents
upon more than twelve years’ industrial familiarity and thirteen years’ staffing experience to lead
both the business and every individual advisor on the path to victory. One of the directors of the
company is Mr. Matthew Paul Lumb; Shawn Pulfrey is the Managing Director of the company.
Mr. Stephen Charles Stewart is the mutual director of the company.
Background of Tangle Teezer Limited:
Tangle Teezer’s initiator, Shaun Pulfrey, started a profession in 1978 as a hair colourist. Right
through his career, he was employed at Pierre Alexandre, Richard Ward, Nicky Clarke and
Toni&Guy salons (Cowling, Liu, and Ledger, 2012). In 2002, Pulfrey unconfined ‘I Wanna Be
Blonde,' a book putting his insider fashion guidelines. Pulfrey started to make inquiries and build
up the proposal for Tangle Teezer brushes, with the aspiration of forming the world’s foremost
specialized detangling device, in 2003. In 2005, he remortgaged his house to sponsor the
manufactured goods launch. Pulfrey came out in 2007 on Dragons’ Den. Plunging to Peter Jones,
James Caan, Duncan Bannatyne, and Deborah Meaden; he presented 15% of the Tangle Teezer
product for $80,000, however, was discarded by the series. Jones categorized the brushes as a
very low-quality product; Caan said that the products were not time worthy and Bannatyne
showed extreme anger towards the product. Nevertheless, when the event came out, the Tangle
Teezer website stopped as a consequence of public requirement, with 1,500 orders cited. In
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2008, Boots commenced supplying the brushes, and in 2009, the product had earned a profit and
began to develop into an international market (Cooper and Burke, 2011).
Activities:
Tangle Teezer Limited is a company which provides hair brushes. They make world's first
detangling hairbrushes (Tricker, 2011). Their brushes are famous worldwide, in fact, some
famous Hollywood celebrities also use their products. It is a small company with high ambitions.
Their group activities are behind their qualitative products. At present, the company has 22
employees who work very hard to maintain the quality of the product (Cahn and Donald, 2010).
Business Locations:
Opus Recruitment Solutions have expanded their business in New York, London, England,
Amsterdam, Wales, Brixton, etc.
Strengths and Weaknesses of Tangle Teezer Limited:
 Strengths:
1- One of the strengths of the company is that it is a small business so that it can benefit
the local people and the local market.
2- Their products are very innovative and fashionable, which attracts customers.
3- They promise that the hair brushes detangle hairs gently and in a painless way. The
female customers are very much attracted towards their products (Zhulina and
Rubinstein, 2012).
4- The look of the brushes is quite simple and elegant, and it gives some silky talk.
5- The brushes are very easy to clean, and it takes less time to clean.
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6- Their packaging is unyielding, and the brushes will also fit in small handbags so that
the customers can easily carry the product with them (Koch and Lockwood, 2010).
7- The product is suitable for all types of hair, and their brushes take good care of hair.
8- Other than hair brushes, they also provide their customer's different types of hair
styling kits.
9- Customers find the company more trustworthy than other similar companies. Because
of their reputation, most of the Hollywood actresses use this product, and they gave a
positive review about the product.
 Weaknesses:
1- The company did not have a good financial backup plan at first. There were no proper
strategies about the company's financial future (Anon Higon and Driffield, 2011).
2- The physical assets of the company are not so good. Their main product is hair brush,
which demands that it detangles hair gently. But some customers complained that the
products of the company were not up to the mark. The conditions of the equipment
are also not so good.
3- It is a small business, and so it can hire only a limited amount of employees. The
workload of the company is a lot more than their human resources, and because of
this reason the work process becomes very slow (Tangle Teezer Limited, 2012).
4- The workflow of the company is not better than other similar companies.
5- Because of employment issues, the market position of the company is also indigent.
6- Dragon’s Den rejected their patents, which put their intellectual property in jeopardy.
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7- All these issues ultimately affect the company's growth. The extreme competition
also sabotages the company's potential growth.
Comparison of Tangle Teezer Limited with a similar industry:
Incorporate
d
Net
Worth
Turnove
r
Employees
Tangle
Teezer
Limited:
17th March
2005
$6.05m 23.18m 22
Auraley
Limited:
20th July 2011 $86.96k 17.24m 56
From the above annual chart, it is shown that Tangle Teezer Limited’s financial performance is
better than another company or similar industry. Apart from these statistics, Tangle is also way
more superior in its business locations. The board members of the company are more
enthusiastic, and they make great strategies to strengthen their company's reputation and
achievements. Their use of technologies is more modern than other agencies. They not only
depend on the product’s quality but personally take tests of their employees’ capabilities. Tangle
has a reputation of earning 24.56m, which is a lot more than other hair brush companies. Their
group performances are quite famous among their customers and other peoples. Their strategic
plans play a crucial role in the competitive market and place them in the highest position. Thus,
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in a way, it can be said that Tangle Teezer Limited is a great hair brush company in comparison
with similar companies.
Task 2
2.1 Dragon’s Den has rejected Tangle teezer limited from entering into the list of safe cosmetics
and hair brush companies. The main reason behind it is bad quality of products, a low reputation
of the company, bad financial resources, and inadequate market position and so on. Therefore,
Tangle teezer limited needs some strategic marketing plans to overcome their weakness
(McKinney, 2003).
For building strength and minimizing the workforce of the organization, SWOT/TOWS analysis
must be conducted. Apart from it, hiring and recruiting of skilled workers are important for the
business. The organization must spread awareness of their brand among people so that that
people who are interested to work can join the company after going through some interview
rounds.
At first, the company needs to look after the improvement of financial resources and for that the
organization should regularly monitor the progress of the business. Moreover, Tangle teezer
must ensure that the customer pays on time. Based on the bad quality of products, the
organization must use upgraded technology for manufacturing high-quality hair brushes. High-
quality technology will help the customers to take care of their long locks.
Additionally, the market position can be increased using innovation, smart hiring prices as well
as strengthening the relationships with the customers. Smart hiring of prices are be performed by
writing better job descriptions, embracing digital trends and social media, focusing on soft skills
as well as checking social media profiles. Customer relationship can be strengthened by regular
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monitoring of customer behaviour and prioritizing them by knowing who needs company’s
immediate attention. The market position can also be improved by acquiring competitors. The
organization can implement merger and acquisition method with their competitors and
strengthen the market position. As a result, higher market share puts the companies at a
competitive advantage (Johnson, 2004). At the same time, the poor workflow can be improved
by breaking the work procedure down into as many distinct steps as possible.
The human resource manager must recruit experienced individuals who could handle modern
and upgraded technology for manufacturing the products and be capable growing the company.
The company should improve work efficiency, for example, by a process review. The main thing
is that the corporation must follow these above strategies to satisfy the customers. The customer
satisfaction will lead to the increase of the brand value of the enterprise. If the company able to
increase the brand value, then they can improve the reputation (Gallagher, 2014). It is very
crucial to maintain a high profile of the company to the customers. The customers may vary from
normal individuals to celebrities. Poor workflow can be improved by identifying the root
problems. Once the problems are identified, solutions can be derived according to the cause.
Aside from that, the brand value of the product can be increased by maintaining high standards
for designs. People are influenced by looks. The products should be made in such a way that
customers are attracted by the looks.
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Source: https://www.google.co.in/url?
sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwie6I6An4XSA
hXHPo8KHd04A0cQjRwIBw&url=http%3A%2F%2Fwww.med.upenn.edu
%2Fhbhe4%2Fpart2-ch4-integrated-behavior-model.shtml&psig=AFQjCNHMho2-
GngRyKfwD1jrech4fRyHjQ&ust=1486806189324267
2.2 Tangle teezer must follow some significant ways to improve and strengthen the current
performance of the company. A good Search Engine Optimization is necessary for every field. A
good SEO enables the company to rank higher in the search and to appear on the first page. On
the other hand, it can represent twenty to ninety percent of the traffic website. The cosmetic
industry is a field where there is full of innovation. In this area, the competition is fierce. The
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organization needs to mark the customer’s mind and therefore creating buzz is very efficient and
effective (Jones, 2008). Apart from it, social media is very useful for companies such as Tangle
teezer for promoting the products to every corner of the world. For example, the company can
launch products with high definition images and catalogs in Facebook Fan page as well as on
Instagram. Many blogs and forum now take the social media as the primary source of
information instead of traditional media. Besides that, contests enable the organization to acquire
current and new customers as well as increase the loyalty of the current consumers (Evans,
2008). Moreover, it is a good way to incite users for providing the company with the information
of the consuming habits.
Product Life Cycle
Source: https://www.google.co.in/url?
sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0a
hUKEwjf3YmvoYXSAhXBso8KHVojDdwQjRwIBw&url=http%3A%2F
%2Fwww.quickmba.com%2Fmarketing%2Fproduct%2Flifecycle
%2F&psig=AFQjCNHb8TPwoAfwYcS28HFBS-
cI57l0fg&ust=1486806873129657
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When a new product progresses through a sequence of stages from introduction to maturity,
decline as well as growth is known product life cycle. The organization must maintain a better
product life cycle. At introduction stage, branding and quality level is established and consumers
show acceptance of the product. At growth stage, product quality is maintained and additional
features and support services are added. Promotion is aimed at a broader audience. At the
maturity stage, promotion emphasises product differentiation. Here, product features are
enhanced to differentiate the product from that of competitors. Pricing is lower due to
competition. In the last stage that is at decline stage the product is maintained by adding new
features and finding new uses.
Porter’s Five force Analysis
Source: https://www.google.co.in/url?
sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0a
hUKEwi3ztbvkIXSAhXIRI8KHcaqAxcQjRwIBw&url=http%3A%2F
%2Fwww.notesdesk.com%2Fnotes%2Fstrategy%2Fporters-five-forces-
model-porters-model
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%2F&bvm=bv.146496531,d.c2I&psig=AFQjCNFppAFfozeERYPm6vOI
ND1FGESgig&ust=1486802443777110
Threats of New Entrants: In small scale industry, the threats of new entrants is very high. The
growing economy as well as the increasing buying power of the customer has made each and
every player of small scale industries to grab the opportunities such as buying new products.
Threats of Substitutes: The presence of products outside of the realm of the common product
boundaries upsurges the inclination of customers to switch to replacements.
Bargaining Power of Suppliers: The providers for this industry incorporate the supply of crude
materials like steel and a considerable measure of segments are included in the Value chain
prepare. Besides that, steel which is a remarkable crude material for this industry is continually
expanding in cost because of abundance request and accessibility.
Bargaining Power of Buyers: the bargaining power of customers is described as the market
outputs. It is the ability of the customers to put the firm under pressure and it also impact on the
customer’s sensivity to the change of price.
Competitive Rivalry: Internationally, the craze for new product are growing and people are
incoming millions of dollars and buying products. Therefore, the company needs to make such
products which will be unique from others. In this way, they can achieve competitive advantage.
Resources, strategies and plans are required by the organization accomplish their objectives of
the competition market.
Employee performance is very crucial for the enterprise. It is the responsibility of a human
resource manager to recruit skilled workers who can control innovative and upgraded
technology. An excellent customer interaction is important, and for that, a good speaker is
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needed who can convince the customers and sell products. Good communication between the
employees will lead to the increase of workflow (Renn, Steinbauer and Fenner, 2014). Moreover,
proper training should be given to the workers so that errors can be avoided during manufacture
of hair brushes. A good finishing of products will lead to customer satisfaction. Outstandingly
effective sales manager practice extraordinary time organization inclinations, and they engage
their business gatherings to profit however much as could reasonably be expected from their
time. With apparently balanced goals, all activities can be promptly evaluated
(DR.K.VANITHA, 2012). Practices that don't support these targets can be abstained from or
redesigned to bring them into alignment by killing solicitations on their time that don't
apparently drive salary.
2.3 Tangle teezer must follow some plans and strategies to expand their business all over the
world. First of all, the company should open another location. It is the best choice for growing
the business. The organization should look at the trends both customer and economical for
indications on the staying power of the company. Moreover, the product should be licensed. It
can be an effective, low-cost growth medium, predominantly if the enterprise has the branded
product. The license partner can be found by researching organizations that provide services or
products. For growing the business, market segmentation is necessary for Tangle teezer
(Sherman, 2013).
Apart from the above plans, Tangle teezer must use new and innovative technology to stay
competitive. In simple words, competitive advantage can be achieved. The changes in
technology can either help the business develop or hurt the extension objectives of Tangle teezer.
Taking an example, updating the business office with advancement in technology can build the
effectiveness furthermore grow the operations. Conversely, being the rearward in the industry to
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detect where things are running with innovation, the company are the last to receive advanced
bookkeeping programming, can disintegrate the base.
Market segmentation will help the company to divide the type of products according to the
demands of the customers in a particular place (Gielnik, Zacher and Schmitt, 2016). For
example, people who have long hairs needs hair brushes. The hair brushes should be made in
such way so as to reduce hair fall. Mostly, female customer needs these type of products.
Additionally, a proper marketing plan should be developed. The expansion of business regarding
cosmetic items usually requires a considerable investment of money and time. It is vital for
developing a marketing plan. Moreover, the organization should sell other hair fall oils and
creams along with the brushes to diversify the products and service offerings. Consequently, it
will open up new territory and help the company to expand the business in a new direction.
Task 3
3.1 The business objectives and plans for the cosmetic industry is quite different from other
sectors. The cosmetic industry revolves around beauty, and it seeks to enhance the natural
characteristics by manufacturing and producing new products that should be safe to use. The
cosmetic industry continues to grow all over the world, roiling out brand after brand. The
industry places a premium on making the consumers happy. The business objectives and plans of
Tangle teezer are described below:
 The first objective is to make products which have no side effects. The organization
should tie up with the objectives of United States Food and Drug Administration to
ensure that cosmetics and foods are safe and appropriately labeled. The apparently
voracious market for cosmetic products has driven some tricky business to help to
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technology that can meet the demands of the customers (Tiffany and Peterson, 2014).
However, fake products can lead to customer dissatisfaction.
 The second objective is to offer beauty solutions apart from providing high-quality hair
brushes. The unique needs of individual customers should be recognized by the cosmetic
industry. Customers seek varieties, and for that, the company must provide makeups,
perfumes, lipsticks, hair dyes, nail polish, deodorants as well as eye contact lenses. The
inclusion of varieties of the product can lead to entry pass in any reality shows.
 The third objective of Tangle teezer limited is to reach the target markets to maintain the
competitiveness. The brands of the cosmetic industry have to steep the market and be the
part of people's lives (Tiffany and Peterson, 2014). Regardless of typical marketing
tactics like the wide product, reasonable price-points, quality packaging, retailers and
manufacturers in the cosmetic industry have to develop techniques as well as strategies to
achieve entry new target markets. As a result, they can maintain their loyal base.
 At last, innovation must be another objective of the company. The company can deliver
the products that are needed by the customers by monitoring the market trends.
Consequently, it will help to gauge the behavior of the customers. Innovation can be
accomplished using meticulous research and good relations between the customers and
the industry.
The company should also aim to segment the market according to the demands of the
customers. Market segmentation leads to competitive advantage. Competitive advantage will
help the company to gain brand value, and customer attraction will also become very easy for
them. Apart from attracting the customer, market segmentation also leads to customer
retention. It also leads to increase the relationship between the customers and the employees
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of the company. If the organization aims to provide the customers with the superior product
along with a free demonstration of the product, then there will be no way to lose vital
customers.
3.2
According to the business plan, the management of the Tangle Teezer needs to focus on the
above-discussed weakness such as lack of financial resource, poor workflow, poor product
quality, worse market position and human resource. Each and every weakness can over come
through proper strategy implementation (Abrams, 2009). As it is clear that, Dragon’s Den
pitching their business ideas in order to secure investment finance from a panel of venture
capitalists. On the other hand, in order to implement appropriate strategy and policies, the
management of Tangle Teezer should take initiatives to enhance changes in those weak parts of
the organization. At the first stage, financial resources are one of the critical and essential
elements of a start up business. Besides that, according to Libby, Libby and Short, (2011), most
of the investors reject their business plans so, they need to prepare a more effective presentation
to attract their investors. In the second part, the empowerment is one of the significant issues of
any organization because without the contribution of efficient employee performance. Apart
from that, they could surely develop the quality of products through effective manufacture
process. Moreover, it is strongly suggested that, the production process which mainly influences
the quality of the products. Aside from that, the management of Tangle Teezer needs to recruit
efficient HR manager who sincerely appoints eligible employees who enhance the performance
of the organization. Besides that, the human resource department is playing an essential role in
the organization and most of the employees have faith on this department for their rights. Along
with this part, the HR manager always encourages and motivate their employees for future
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individual growth. Moreover, the empowerment can be evaluated through proper guide and
motivation of the Human Resource Department of Tangle Teezer.
3.3
Action plan to implement the changes
The action plan includes some effective strategies such as good investment planning,
motivational strategy, product and service quality improvement, and HRM improvement which
are discussed below:
There are many changes can be done inside the organization for future development. In order to
implement the changes in Tangle Teezer, the management needs to take some essential steps
(Human resources in research and practice, 2011).
First of all, the investment is one of the major issues which holds major financial concepts.
According to the case study, the famous television shows rejects the business ideas of Tangle
Teezer due to many causes, and many important investors were present on that occasion. In order
to implement changes, the management of Tangle Teezer should prepare a good and attractive
project which can draw the attention of their potential investors.
Reward strategy is an attractive method which includes the clean focus of the employees to earn
an additional salary which is inspired by motivation. Apart from that, empowerment is one of the
critical phases which needs to be changed through proper strategy and action plan. Along with
this part, with the help of the bonus strategy, the management can attract the attention of the
employees and as well as employee performance can be influenced by this types of the action
plan.
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On the other hand, the quality of the products can be measured by adopting latest manufacture
process through technology. As we all know that, technology is grabbed the whole world under
its power and circumstances. The management of Tangle Teezer needs to redesign their
production process with latest technological features. Along with this side, with the help of the
latest and innovative production process first class quality products can be manufactured which
can easily satisfy the customers. So, in this case, the suggested action plan is that Tangle Teezer
needs to modify their old manufacture process with latest and innovative technology based
production system(Antunes, 2010).
Apart from that, the human resource department is one of the critical management of the
organization, and it is responsible for the accurate selection process. Besides that, here the
suggested action plan which is efficient HR manager selection for Tangle Teezer who can
appoint more efficient employees for better organizational performance.
Task 4
4.1
The impact of proposed changes on the business is very important according to the point of view
of Tangle Teezer. On the other hand, the above-mentioned changes are very critical for the
organizational development and create an impact on the whole business. First of all, there are
various types of changes are discussed as per the weakness of the company and each and every
weak point of the organization can be achieved through change implementation plan. Besides
that, the financial element needs investors who provide a basic fund to expand the startup
business. The changes can impact the personal and professional lives of the employees through
change implementation process. The investors only attracted if the returns are secure and high
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from company's end, as well as the projects and presentation, needs to be also attracted which
mainly composed of effective employees. So, the impact of the technical changes impacts the
professional life and the business environment of Tangle Teezer. On the other hand, employee
retention is essential for every organization and employment through accurate motivation also
influence employee motivation. Besides that, effective empowerment clearly effects on the
employees. As per the case study, the overall company performance was decreasing due to the
poor performance of the employees. So, according to the change implementation process, an
effective trainer would be appointed for developing the employees towards a right direction. This
would mainly impact the professional lives of the employees because they would be motivated
for future growth. Apart from that, the change in production process also effects the business due
to latest technology adaptation(Pisani-Ferry, 2003). This change will impact the whole
manufacture process of Tangle Teezer in order to produce good quality products. In other words,
with the help of latest technology based manufacture process Tangle Teezer able to produce
more effective products which attract more customers. On the other side, the changes in human
resource department also very critical and impact the HR department through selection and
recruitment process (Yeung, 2011). This changes mainly impact the HR managers for appointing
more efficient employees for Tangle Teezer. Thus, the changes implementation can enhance the
performance of the organization by affecting different stakeholders of the Tangle Teezer. As well
as, this changes can measure the business environment also.
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4.2
Figure: Kurt Lewin’s Change Model
In order to manage changes in the organization, the management needs to comply with the
changes and motivates employees to adopt changes. According to Lewin’s change model, three
parts as unfreezing, movement and refreezing conduct the change process. Thus, unfreezing
includes basic communication, threats and opportunities discussion and benchmarking and
comparison data. Movement includes adopting new behaviour model, new role of management,
training and transition old to new. Therefore, refreezing includes training follow up,
implementation of new skills, supportive HR practice and working structure.
First of all, the investment related change can be measured by the appropriate presentation and
project analysis. In other words, the management needs to appoint more efficient employees in
the presentation part to attract the investors about a specific project rather than ordinary project
analysis. On the other hand, with the help of the right investment plans, Tangle Teezer able to
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expand their business. So, in order to get proper investment plan, the management of Tangle
Teezer must recruit effective employees. On the other hand, in order to manage empowerment
changes, Tangle Teezer needs to appoint a trainer who provides effective training to the
employees for future growth. In other sense, with the help of effective training, all employees of
Tangle Teezer able to understand the value of allocated task and they would work harder for a
better professional career.
Figure : Mckinsey’s 7S model for Business
This Mckinsey’s 7S model includes three hard elements (strategy, structure and systems) and
four Soft elements (skills, shared values, staffs and style).
Along with this part, the trainer would also provide effective training in order to increase the
employee performance through communication skill development. According to Park, Kim and
Song (2015), the communication process is one of the effective medium to exchange feelings
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and emotions and with the help of this process, employees of Tangle Teezer can able to
communicate with both employees and customers. Besides that, the changes in the human
resources department are also be managed by the Tangle Teezer.
Along with that, the most important changes appear in the HRM of Tangle Teezer and proper
HR manager only can appoint effective employees by the proper interview process. Moreover,
with the help of changed and upgraded human resource department, Tangle Teezer can recruit
and appoint more effective candidates for constant organizational development. So, each and
every change needs to be managed correctly by the management of Tangle Teezer.
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4.3 The performance graph of Tangle Teezer Ltd.
1 2 3
2013.5
2014
2014.5
2015
2015.5
2016
2016.5
2017
2017.5
Chart Title
years perforemance improvement
Figure: Tangle Teezer Ltd’s Sales Revenue
It is visible that the company has improved their performance in the past few year. It is visible
that, the company has managed to improve the performance from 2015 to 2016. In this time, they
have implemented some action plans to improve the employee performance. Depending on that,
they have got more productivity from their employees. In 2016, they have got improvements in
the market by introducing some featured appliances which have attracted the customers.
Moreover, they have got a stable market share in the industry. However, after implementing the
discussed planning, they will be able to maximize their sales, and also they will get more
customers in their customer base. Apart from that, implementing more finance in the firm's
actions, they will get more ways to introduce other relevant business opportunities (Phillips and
Phillips, 2013).
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Conclusion
This paper is based on the change management of Tangle Teezer Ltd which manufacture only
comb related products. Thus, the management of Tangle Teezer Ltd must follow Lewin’s
Change model in order enhance improvement.
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