Evaluation of Strengths and Weaknesses of The Big Swing Company Ltd
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This assignment report evaluates the strengths and weaknesses of The Big Swing Company Ltd and provides recommendations for improvement. It also includes an analysis of the company's financial performance compared to its competitor.
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SMALL BUSINESS ENTERPRISE Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 1.1 Profile of selected business scenario......................................................................................3 1.2 Analysis of business financial performance with the competitor..........................................4 TASK 2............................................................................................................................................7 2.1 Appropriate changes with justifications to overcome problems............................................7 2.2 Analysis ways in which existing performance could be maintain and strengthened.............9 2.3 New areas in which business can be expand by the firm.....................................................10 TASK 3..........................................................................................................................................11 3.1 Assessment of existing business objectives and plans.........................................................11 3.2 Review of the business plan and areas where changes can be made...................................12
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3.3 Action plan to implement changes.......................................................................................13 TASK 4..........................................................................................................................................14 4.1 Impact the proposed changes which impact on business and employees............................14 4.2 Plan for how the changes will be managed..........................................................................15 4.3 Monitoring the enterprise performances within the time frame..........................................16 CONCLUSION..............................................................................................................................17 REFERENCES..............................................................................................................................19
INTRODUCTION In Europe, SME has been defined as an organization having an employee base below 250 persons and yearly turnover falls less than 50 million Euro. Although such companies operate at lower scale, but still, contributes a strong percentage to the overall growth and success of the business. Referring Europe, very larger percentage of total number of established represents SMEs and contributes an effective percentage to nation’s GDP. Thus, government undertakes several initiatives to promote SMEs, which in turn, not only helps to enhance business growth, but also render job opportunities to the people and declines unemployment rate. Therefore, this assignment report emphasizes upon an evaluation of strengths and weakness of a small sized business, named The Big Swing Company Limited. The report will identify the activities and operations conducted by the company to serve their audiences. Moreover, it will also present an evaluation of financial performance of the Big Swing Company with its toughest competitor, Charles Cantrill Ltd to identify the most successful company. Apart from this, the report will also recommend and suggest the best strategies and ways through which The Big Swing Company Ltd can maximize their performance and reach success. TASK 1 1.1 Profile of selected business scenario Organization’s nameThe Big Swing Company Ltd. Nature of business: It is a private limited company owned by investors. VisionIts long-term business vision is to become a successful and leading company in the area we serve. MissionIts target is to serve audiences through excellent and best value products and services through presenting offerings exactly as per user’s requirements. Key peopleJonathan Charles& Katharine Sarah regulate and monitor daily business practices to gain success in the market. Owner structuresIt is a private limited company that is owned by the investors who put their capital for the smooth functioning of the organization (The Big Swing company limited, 2016). In return, they gain monetary return on their investment to fulfill their expectations. HistoryIt was incorporated on May, 16, 2006 and became a registered organization.Thus,itwastheperiodofrealbeginningand completed a journey of eleven years till now. Its quality product and
services enable firm to complete a long-journey and sustain in the competitive marketplace. Activities and functionsIt is specializing and expertise in production of wood, producing straw, articleswork and plaiting of materials(The Big Swing Company,2015). Business locationIts registered office situated in Hope Cottage, Box, Stroud, UK. Strengths & weaknessesStrengths: Specializes in manufacturing and distribution of straw, articles and plaiting materialsin United Kingdom. Excellent product& service portfolio e.g. straw, wood, material plaiting Good reputation and brand positione.g. consumer loyalty. Skilled, well-trained and talented people Weaknesses: Limited access to marketdue to of intervention in productivity Unable to meet long-term capital requirement through issue of equitydue to high debt levels. Declined percentage growth in profitability performancee.g. falling net return in current year 2015 to 7.80% Ineffectivecost-controllingmeasurese.g.highcostof production Lack of focus on training and development 1.2 Analysis of business financial performance with the competitor The main motto of all the companies is to generate significant return by the way of generating profitability on total turnover. Now-a-days, companies can only sustain and bring success through having maximum net profitability on their total turnover. With regards to the chosen organization, The Big Swing is facing high and immense level of competition from the rivalry firm, Charles Cantrill Ltd (CCL). There are various ways through which business can measure their operational efficiency and results of business performance and compare it with the competitors to assess that whether they performed much better or not such as horizontal, vertical and ratio analysis (Chaston, 2014). Here, the monetary results of The Big Swing Company is a comparing with its competitor, CCLwho is also operating in the same industry through its turnover and profitability after tax for the period of recent 5 years, presented below: TurnoveAbsolute%increase/Absolut%increase/decrease
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rchangedecrease e Change 20112250--2100-- 2012250025011.11%234024011.43% 2013286036014.40%24801405.98% 2014330044015.38%345097039.11% 2015368038011.52%384039011.30% Considering the results, it can be observed that Big Swing Company’s turnover depicts a growing trend consistently, but still, till the end of 2014, revenue rose at inclining rate as it got increased from 11.11% to 14.40% and 15.38%. It may be resulted due to rising consumer demand, brand recognition, publicity and effective pricing policy mechanism to attract larger consumer base (Berger Scowan and Frame, 2011). However, in 2015, although revenue raise up but at declined % change as in this year, revenues shows a slightly increase by 11.52% comparatively lower than that of earlier year. Fall in demand, poor quality products and/or services, delivery of same quality services by competitors at cheaper prices and excessive price may be the reason for decreased demand and resulted in fewer turnovers (Bridge and O'Neill, 2012). However, if we look at the competitor, Charles Cantrill Ltd.’s financial results, turnover goes up by 11.43%, then dropped down to 5.98%. After this, it shows a sudden increase by 39.11% which may be caused due to heavy promotional and advertisement cost and less product charges. In the 2015, its % growth in turnover has been reported to 11.30% less than that of Big Swing Company. The Big Swing Company LtdCharles Cantrill Ltd Gross profitGross profit ratioGross profitGross profit ratio 201180035.56%54025.71% 201297038.80%63026.92% 201363022.03%102041.13% 2014106032.12%128037.10% 2015123033.42%139036.20% Looking to the table, it is founded that Big Swing Company’s GPR dropped down to 22.03% in 2013 whereas afterwards, it went up to 33.42% due to good turnover and better control over direct cost that goes gross profit upward. However, from 2013 to 2015, CCL’s GPR is higher to
41.13%, 37.10% and 36.20% 2013 to 41.13% indicates that it performed well and gathered more return on their sales. The Big Swing Company LtdCharles Cantrill Ltd Net profitNet profit marginNet profitNet profit margin 20111205.33%1055.00% 20121807.20%1657.05% 20132006.99%2108.47% 20142648.00%2727.88% 20152877.80%3208.33% The Big Swing Company’s net profitability % shows a volatile trend as it got improved to 7.20% in 2012 and then came down to 6.99%. Again, in 2014, it goes upward to 8% may be due to effective cost control measures and greater revenues, but afterwards, it fallen to 7.80%. The results indicate that firm did not perform excellent, whilst, Charles Cantrill Ltd.’s NM goes improved till 2013 and came to 8.47%, then goes down to 7.88% again in 2015, it got improved to 8.33%. Results reveals that CCL has obtained high level of profitability on their total turnover, hence, its operational performance is much sound. (Source:The Big Swing Company,2015)
As per the graph, shareholder’s fund, net worth and total assets of the business showed a downward movement from 2011 to 2015 which is not good. It indicates that financial status or position of The Big Swing Company dropped down, hence, depicts poor monetary results. Big Swing CompanyCharles Cantrill Ltd yea r Current assets Current liabilities Current ratio Curre nt assets Current liabilitiesCurrent ratio 201 1150014001.07160013501.19 201 2180019000.95176016701.05 201 3167020500.81194018301.06 201 4190022300.85229019501.17 201 5220017001.29266022301.19 Considering the results, it is clear that in Big Swing Company’s CR shows a declined trend till the end of the year 2013 as it dropped down from 1.07 to 0.81. However, thereafter it goes up to 1.29 in 2015 indicate improved liquidity position of the firm to repay short-term suppliers or creditors on time. However, CR shows of CCL shows a continuous rising trend after 2012 as it got increased to 1.19 in the year 2015, is a sign of good liquidity, but still, comparatively the ratio of Big Swing company is greater indicates good liquidity, On the other hand, it is required to maximize inventory, receivables and cash to accomplish target ratio of 2:1. SWOT analysis Strengths: Specializesinmanufacturingand distribution of straw, articles and plaiting materials in United Kingdom. Excellent product & service portfolio e.g. straw, wood, material plaiting Good reputation and brand position e.g. consumer loyalty. Skilled, well-trained and talented people Weaknesses: Limitedaccesstomarketduetoof intervention in productivity Unabletomeetlong-termcapital requirement through issue of equity due to high debt levels. Declined percentage growth in profitability performancee.g.fallingnetreturnin current year 2015 to 7.80% Ineffective cost-controlling measures e.g. high cost of production Lack of focus on training and development
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Opportunities Expansion strategies into new markets to enhance global presence Diversification into new goods and services Technological upgradation & advancement like online merchandising Threats Competition pressure by rivalries Cheaper substitute delivery by competitors Changesinegislations®ulatory framework TASK 2 2.1 Appropriate changes with justifications to overcome problems It is important for The Big Swing Company’s managers, executives and directors to create some better strategies and take several business decisions to achieve success through overcoming difficulties and weakness. There are number of ways available through which firm can eliminate their problems and drive success to the organization that are narrated here as under: TOWS matrix Strengths (S)Weaknesses (W) Opportunities (O)SO strategy Excellent goods & service portfolio will assist Big Swing Company to expand operations into other market segments so astograbadvantageofmarket opportunities and achieve heights. WO strategy Throughworldwide operations, material and labor can be acquired at economical charges, which in turn, control cost and maximize return. Threats (T)ST strategy In this, reputative image, loyal consumer, talented workforce and managerial skills will be use to minimize threats such as competition from CCL and others. WT strategy Big Swing company can make strategiesforcost-minimize, goodpricingpolicy, expansion,onlinetrading& otherstominimizeboth weaknessesandmarket threats. Development of budget: Managers are not only responsible to look after the optimum utilization of monetary resources through necessary restrictions, but also, they must forecast and
predict the results or outcomes of future course of actions and activities. It helps to find out potential hurdles and problems, so that, decisions can be made prior to achieve success. Thus, The Big Swing Company’s managers can estimate their incoming and outgoing (revenue and expenditures) and prepare budgets to find out the net results either in the terms of profit or loss (Burns, 2010). Following the technique, firm can detect problems and financial difficulties and take appropriate decision right time to reach financial targets. Conducting trainings: Business can also conduct trainings for their staff to guide and inform them about the working of the organization. This rise their skills, competencies and capabilities level to perform good and enhance their productivity. Expansion: The Big Swing Company can diversify their regular activities and functions through entering newer markets. With the greater geographical presence, firm can grab benefits of existing market opportunities, generate consumer traffic, higher revenues and net profitability as well. Cost-control mechanism:As said earlier, that poor cost-controlling measures is a reason for less return, therefore, such weakness can be overcome through putting restrictions and control over regular and formal course of activities. In such respect, The Big Swing Company Ltd’s managers must regulate and supervise the business functions and put restrictions to get desired results through optimum resource utilization (Halme and Korpela, 2014). Curtailing wasteful spending and encouragement of saving will enable firm to bring success and maximize competitiveness. Quality services: It is the key of goal, through delivering best quality products and/or services at an affordable priceassists firm to attract more and more customers and maximize net yield. Thus, it can be advised to perform quality work for their audiences exactly as per their original need or requirement. Decline in net profit: As per the analysis made earlier, it has been founded that Big Swing Company’s net profit percentage dropped down to 7.80% in the year 2015. Thus, it can be overcome through employing better cost controlling measures so as to minimize administrative, selling & distribution expense to gain better yield.Further, pricing policy needs to reviewed
again so as to set affordable or economical prices to gain audience crowd, which in turn, maximize revenues & yield. Advertisement and promotion: Is to generate consumer traffic, it can be suggested to The Big Swiss Company to prepare an excellent marketing plan to attract and encourage potential customers to demand the business offerings (Rainer, Cegielski and Sanchez-Rodriguez, 2013). It helps to create a good reputation in the market and maximize strategic capabilities of the firm to a major extent. 2.2 Analysis ways in which existing performance could be maintain and strengthened Gain competitive advantage over rivals Porters Analysis In order to maintain existing performances, the firm need to considers following elements: Supply power: In the market there is low supply power so that it creates major impact on the business operations. Thus, the firm need to maintain their strength from enhancing suppliers at workplace. Buyer power: Buyer power is comparative low thus firm has opportunities to manage outcomes and drive prices are down with various buyers. It is important for business to operate effective functions and it generates switching of products and services of customer in for new business. Competitive rivalry: Competitors are very high so that The big swing company need to offer equality in their products and services to maintain competitive advantages. Threats of substitution: This will affect to the cited firm because customer has ability to find different way for improvement process of company. People can use substitute products and services for business development. Threats of new entry: This power is affected to Big swing because ability of people are so high to enter within the market. Hence, there is few economies which need to be follow for development of the company
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To view financial data, it can be assessing that the big swing company Ltd. Working effective to maintain and strengthen at workplace. To increasing current business working, different ways can be take in which the cited firm easily enhance their effective operations at workplace (Down, 2015). It is very beneficial for the organization in which they can maintain sustainability at workplace. They are as follows: The big swing company Ltd. Can diversify their business which involves profitability at workplace. Thus, it provides planning development for maintain effective working environment to measure outcomes at workplace. It also enhances services of company in which the cited firm can make sustainability within the enterprise (Bovée and Thill, 2015). As results, the organization can overcome their weakness as well. Inadditiontothis,businessalsoposse’svariousactivitieswhichassisttomake sustainability with taking positive outcomes and satisfy customers demands and their requirements. Thus, the cited firm need to conduct proper training and development program for enhance worker’s capabilities to offers profitability at workplace (Halabí and Lussier, 2014). The cited firm working for benefits of customers and employee’s profitability within the enterprise environment. The big swing company Ltd. Make their operations which assist to develop profitability and positive results at workplace. In addition to this, the company canalsousesustainabledevelopmentofemployee’sperformanceswhichmake profitability within the company performances. Thus, they can also tale profitability within the enterprise (Karataş‐Özkan and Chell, 2015) 2.3 New areas in which business can be expand by the firm Big Swing company Ltd is operating in the multiple areas like manufacturing products related to wood, cork and platting materials. Firm have well developed infrastructure and it can use same to develop other products. The new areas in which business can be expand by the firm are as follows.
New product development:Firm can open new outlets under which it can make available wide variety of products to the customers like clutch plates and furniture’s etc. under single roof. By doing so relevant firm can attract large number and different type of customers in its business. It will not need to open separate outlet for each product individually. Thus, proposed product development will prove beneficial for the business firm. Manufacturing furniture’s:Big Swing Company can diversify its business in furniture. Currently, firm is producing varied items that are prepared by using wood. Thus, firm have some years’ experience in production of items that are produced by using furniture. At the workplace, there is a machine that is related to wood (Burns, 2010). By adding few more relevant machines at the facility firm can commence manufacturing of furniture at the workplace. For this business plan, existing infrastructure is the USP for the firm.Big Swing company can also sale customized furniture to the customers. This will be unique business model that is never followed by any rival firm till the date. Clutch plates:Currently, firm is manufacturing articles by using cork. Cork can also be used to manufacture wide variety of products like clutch plates. These plates are used in cars and other vehicles. Business firm must start producing clutch plates because there is a great demand of automobiles in the market. Hence, in upcoming time demand for clutch plates will also increase. Firm can establish its contacts with the Automobile companies and as per specification provided by them it can produce clutch wire for the firms. Firm is producing cork products and it has relevant machines and experience. Thus, firm can commence is business of producing and selling clutch plates. Bamboo products:Big Swing company can produce bamboo products on its workplace. Currently, mentioned company is producing straw and platting materials (Bridge and O'Neill, 2012).Thus, it can be said that firm have labor force which have experience in manufacturing items by using bamboo products. Current workforce can also be used to manufacture the varied bamboo products and can be exported in nations like China and India where there is a huge demand of the relevant products.
TASK 3 3.1 Assessment of existing business objectives and plans Some of the objectives and plans of the Big Swing are as follows. Develop customer relation:It is very important to develop strong relationship with the customers. This is because same person can become customer of the business for the next period. Moreover, if customer is satisfied then he can recommend other one to try firm product. Thus, main goal of the relevant business firm is to maintain strong relationship with the customers (Chaston, 2014). Firm maintain complete record of the customers who make purchase from the premises of the firm. Calling is done to them to identify any issue if faced by them in respect to the product. Based on feedback areas where improvement need to be made can be identified. Thus, it can be said that there is a huge importance of developing strong relationship with customer for the business firm.Retention:Retention of customers in the business is another objective of the business firm. Main target of the business firm is to sale goods to the single customer multiple way. Only by doing so firm can multiple number of customers in its business. There is a need to follow specific business strategy by using which existing customers can be retained in the business.Increasing sales:Increasing sales of the business is another main objective of the business firm. It wants to accelerate its business revenue growth rate unto 15% on year on year basis. It is very important to maintain specific growth rate in the business because only by doing so business can be increased at fast pace. Market strategy must beprepared by the business firm that help it in fostering revenue in the business. Expanding’ New Areas:The main objective of the business firm is to expand its business in new areas that are related to its current business. This strategy will help firm in using its USP for making business stronger than before. Relevant firm can product and sale bamboo products in the market. There is great demand of bamboo products in south East Asia. Hence, in mentioned market firm can increase its business.
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3.2 Review of the business plan and areas where changes can be made Out of the three areas where business firm can commence its business is furniture. In comparison to other two business idea mentioned one is best.On review of the business plan that is related to the furniture production some modifications are required. Firm must sale its product through online and offline platform (Berger, Cowan and Frame, 2011). Earlier, it was proposed in the business plan that product will be sold on through brick and mortar model. With passage of time large number of the business firms makes their business online. Thus, Big Swing Company must also start selling its furniture’s and other products online. Under this firm must start its own portal where people can view different model of the specific company furniture. There must be an option where people can place an order for purchase of furniture. By doing so Big Swing company can create its customers through online and offline platform and increase number of customers at rapid pace in the business (Cowling, Liu and Ledger, 2012). Thus, it can be said that there are number of benefits that firm receive by making its business online. To implement this change firm must establish a contact with the web developer and must designed a portal in which there must be a two-separate window. In first one all furniture items must be revealed to the prospective customers on screen. Thereafter there must be a small column like window where by pressing a button one can place an order to purchase furniture at the specific price. By doing so good appearance can be given to the portal by the business firm. In this way changes in respect to commencing online business can be made by the firm in its business. 3.3 Action plan to implement changes Proposed actionMilestone tasks Responsible person Targe t date Success indicator Progress To improve market shares of the company by Quality services Effective pricing mechanism Promotional strategies Expansion Quality products Marketing manager Finance manager 31st March 2017 Consumer satisfaction High sales Regular consumer interactio n
18% in 2017 Expansion programs Project leadersStrategic financial analysis To maximize net profitability by 10% in the end of 2017 Quality mechanism program Right pricing strategy Operational control Closure managerial supervision Optimum use of funds Quality offerings Best pricing policy Finance manager Departmental heads Quality analysts 15th June 2017 Consumer satisfaction Control over overheads Decline in operation al cost Growth in consumer Higher yield To become an established E-Comers provider of the company product by June 2017. For new Product Developmentas part of action plan many steps will be undertaken by the business firm. In this regard, firstcontact will be established with the web developer and prototype of the productwillbedeveloped.Underprototypelayoutofthewebsitewillbeprepared.If management of Big Swing Company will feel need of modification, then relevant things will be communicated to the web developer in respect to changes that must be done in the website design.Detail discussion will be carried out with the web developer in respect to changes that can be done in the prototype (Herbane, 2010). Thereafter project of web development will be classified in to multiple stages and under this step by step many things will be added to the website. In the website two different windows will be made available to the customers. In one window customers, will be able to view image of the furniture items that are readily available from the firm. In second window customers, will get some inputs which they will be able to use to prepare design of the custom furniture. Thus, by doing so company will be in position to satisfy needs of all sort of customers. Price window will be prepared separately under which one will be able to enter the price at which he wants to purchase specific sort of furniture from the business firm (Dennis, 2011). In
this way changes, will be implementing by the firm in its business and it can come in position from where easily product can be sold to the customers. With passage of the time business firm must modify its website to ensure the needs and wants of the customers will be meeting on time by the business firm. such kind of thing will also help business firm in beating rival firms in completion. TASK 4 4.1 Impact the proposed changes which impact on business and employees There are various changes in the organization which bring to protect with aim to generate positiveimpactontheenterprise(Thomas,2013).Therearedifferentproposed changes identified in the company. They are as follows: Increasing in revenues: Proposed changes consists main aim to increasing profitability of the big swing company Ltd. Therefore, outcomes are generating to implement project results. It will helpful to make high sales and more profits to create high revenue at workplace. Thus, the cited firm can easily make their effective results through operating various arrangements (Rainer, Cegielski and Sanchez-Rodriguez, 2013). In addition to this, it also creates possible working environment with generate high revenue. Global Expansion: When the organization enter in international market, they are gain various enhancement in worldwide acknowledgement. In addition to this, it also assists to attain global benefits which high recognize to make effective plan at workplace (Karataş‐ Özkan and Chell, 2015). In this aspect,The big swing company Ltd. are enhancing their business in various parts of the world so that the company can achieve high profits easily. It will also helpful to improve workers benefits and their lifestyle through increasing knowledge and skills for effective working environment. Enhancing goodwill: With the help of proposed changes, the enterprise can make effective functioning. It assists to collaborates customers who make goodwill of company (Vorley and Williams, 2016). When The big swing company Ltd. establish their effective operations,theycaneasilymakegoodwillthroughattractvariouscustomers. International policies assist to make sustainability with increasing living standard as well.
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Staff resistance to changes:Is to initiate objectives of the company, every individual need to make changes at workplace. It develops innovation for maintain sustainability for working effective at workplace. In respect to this, business has chance to attract various customers to enhance profits of the company (Halme and Korpela, 2014). The big swing company Ltd can easily make possible changes which can be accept by eachInclude Method for overcoming Resistance,member of the company so that they can effective results generates at workplace. For example, removing staff resistance from workplace. Proving training to employee: In order to consider proposed changes, the cited firm need to overcome their issues through providing proper training to people. Hence, they can easily manage business outcomes. 4.2 Plan for how the changes will be managed It is very important to manage plan of the company to operate effective functions at workplace. Thus, the big swing company Ltd. requires to implement effective plan which assist to develop smooth functioning which is related with objectives of the enterprise. Some crucial elements need to manage by the cited firm (Rainer, Cegielski and Sanchez-Rodriguez, 2013). They are as follows: Financial resources at workplace: It is very important element which manages by company to operate effective functioning within the business unit. With the help of financial resources ‘The Big Swing Company Ltd’. can make effective functioning and positive outcomes within the enterprise. Thus, they can easily make profitability which assist to manage plan of the organization (Halabí and Lussier, 2014). In addition to this, the chosen firm have also required to maintain more finance at workplace so that can easily make changes whenever is needed. Human resource management: With the help of managing human resource, the cited firm can take effective function at workplace. Proper management is requiring to execute the effective function at workplace which completing by The Big Swing company Ltd. Appropriatehumanresourcemanagementassiststoprovideresponsibilityofeach member within the firm (Rainer, Cegielski and Sanchez-Rodriguez, 2013). It also helpful
to attain effective operations through development of employees which gain objectives and goals of the company. When, the enterprise take profitability with responsibility of each member separately, they can easily make high revenue and profits at workplace. Undertake technology Development: In globalized areas of the company, it is very important to enhance technology which maintain and attain success of the company (Halabí and Lussier, 2014). The big Swing Company Ltd. requires to implement their innovative functions within the business environment. Main operations of the company can be takes by their online websites and portal which make profitability at workplace. Thus, it will make sustainability of organization goals and objectives in systematic manner. In addition to this, technology encouragement also take positive environment whichdeveloporganizationoperationsandsustainabilityforattaincompetitive advantages (Rainer, Cegielski and Sanchez-Rodriguez, 2013). ’LEWIN MODEL’ This model determine in three steps which are as follows: Unfreezing: It is the initial stage to make changes at workplace. In respect to this, The big Swing company need to implement plan for maintain business outcomes. In respect to this, the organization can take place through changes in existing goals, behaviors and many more things. Changing: In this step, Lewin recognizes that changes is a process in which organization need to take place for change step in transitioning and moving. Refreezing: In this step, the company need to move for change their model with reinforce, stabilizingadsolidifyingwhichmakechangesatworkplace.Changesaremadetothe organizational process to deliver functions. 4.3 Monitoring the enterprise performances within the time frame It is very important to operate effective functions at workplace with implement changes to attain business goals. It is also essential to determine time scale which makes profitability with making changes at workplace. With considers time scale, organization can take effective results within the company which assist to maintain competitive advantages within the firm (Rainer, Cegielski and Sanchez-Rodriguez, 2013). It can be taken as follows:
ImprovementsTime scale for activity Enhance physical storesWithin 1 year Contact with international businessWithin 1 and half year Innovation of thingsAlmost 10 to 11 months Maintain CRMWithin 4 to 5 months Increasing in online portalsAlmost 2 years Withinthegiventimeframe,thebigswingcompanyLtd.caneasilymaintain sustainability and profitability at workplace. It will assist to make plan to launch products and services in effective manner. Thus, business can easily take profitability at workplace through measure their performances (Karataş‐Özkan and Chell, 2015). In 2 years, the cited firm can easily maintain their effective operations and profitability at workplace which can generates high revenue at workplace. Thus, the enterprise can enhance their profits and revenue within the company. These are major activities which require developing functions within the enterprise which make sustainability at workplace. In addition to this, the firm have also implement their functions in which they can easily expand their business profits through attain objectives of the company (Halabí and Lussier, 2014). Proper time management requires maintaining sustainability which creates high revenues at workplace. These major sources are also take profitability which ascertain objectives of the firm. Proper management also makes effective functions which generates profitability at workplace. Various activity take important place for making effective results at the business environment.
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Figure1sales growth of company Thus, the firm can easily expand their business operations through enhancing strength at workplace. Moreover, it summarizes plan to implement various functions at workplace. Thus, it is very important to manage each activity to propose changes with effective time scale. In order to considers profits, it is articulated that company is highly influence by organization outcomes. In addition to this, report also make plan with time scale to develop functions which generates high revenue within the market. At the end, it includes time scale with each and every activity which the company want to enhance effectively. CONCLUSION From the above report, it can be concluded that whether business is large and small that are possess to make effective functioning within the enterprise. It this aspect, the cited firm can make profitability which assist to development of company. It expands business operations through operate various functions at workplace. Thus, company can maximize profitability which assists to make sustainability within the business environment at workplace. Furthermore,
it also assesses strength and weaknesses of the company which generates high revenue through developing operations at workplace.
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Rainer, R. K., Cegielski, C. G. and Sanchez-Rodriguez, C., 2013.Introduction to information systems: Supporting and transforming business.John Wiley & Sons. Thomas, R., 2013.Small firms in tourism. Routledge. Vorley, T. and Williams, N., 2016. Not just dialling it in: Examining cognitive-based approaches in enterprise education using a smartphone application.Education+ Training.58(1). pp.45-60. Online TheBigSwingcompanylimited.2016.[Online].Availablethrough:< https://beta.companieshouse.gov.uk/company/05819000>.[Accessedon19thJanuary 2016]. TheBigSwingCompany.2015.[Online].Availablethrough: http://www.bizdb.co.uk/company/the-big-swing-company-limited-05819000/. [Accessed on 19thJanuary 2016].