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
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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 name The Big Swing Company Ltd.
Nature of business: It is a private limited company owned by
investors.
Vision Its long-term business vision is to become a successful and leading
company in the area we serve.
Mission Its target is to serve audiences through excellent and best value
products and services through presenting offerings exactly as per
user’s requirements.
Key people Jonathan Charles& Katharine Sarah regulate and monitor daily
business practices to gain success in the market.
Owner structures It 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.
History It was incorporated on May, 16, 2006 and became a registered
organization. Thus, it was the period of real beginning and
completed a journey of eleven years till now. Its quality product and
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services enable firm to complete a long-journey and sustain in the
competitive marketplace.
Activities and functions It is specializing and expertise in production of wood, producing
straw, articles work and plaiting of materials (The Big Swing
Company, 2015).
Business location Its registered office situated in Hope Cottage, Box, Stroud, UK.
Strengths & weaknesses Strengths:
Specializes in manufacturing and 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:
Limited access to market due to of intervention in productivity
Unable to meet long-term capital requirement through issue of
equity due to high debt levels.
Declined percentage growth in profitability performance e.g.
falling net return in current year 2015 to 7.80%
Ineffective cost-controlling measures e.g. high cost of
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:
Turnove Absolute %increase/ Absolut %increase/decrease
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r change decrease
e
Change
2011 2250 - - 2100 - -
2012 2500 250 11.11% 2340 240 11.43%
2013 2860 360 14.40% 2480 140 5.98%
2014 3300 440 15.38% 3450 970 39.11%
2015 3680 380 11.52% 3840 390 11.30%
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 Ltd Charles Cantrill Ltd
Gross profit Gross profit ratio Gross profit Gross profit ratio
2011 800 35.56% 540 25.71%
2012 970 38.80% 630 26.92%
2013 630 22.03% 1020 41.13%
2014 1060 32.12% 1280 37.10%
2015 1230 33.42% 1390 36.20%
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
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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 Ltd Charles Cantrill Ltd
Net profit Net profit margin Net profit Net profit margin
2011 120 5.33% 105 5.00%
2012 180 7.20% 165 7.05%
2013 200 6.99% 210 8.47%
2014 264 8.00% 272 7.88%
2015 287 7.80% 320 8.33%
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)
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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 Company Charles Cantrill Ltd
yea
r
Current
assets
Current
liabilities
Current
ratio
Curre
nt
assets
Current
liabilities Current ratio
201
1 1500 1400 1.07 1600 1350 1.19
201
2 1800 1900 0.95 1760 1670 1.05
201
3 1670 2050 0.81 1940 1830 1.06
201
4 1900 2230 0.85 2290 1950 1.17
201
5 2200 1700 1.29 2660 2230 1.19
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:
Specializes in manufacturing and
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:
Limited access to market due to of
intervention in productivity
Unable to meet long-term capital
requirement through issue of equity due to
high debt levels.
Declined percentage growth in profitability
performance e.g. falling net return in
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
Changes in egislations & regulatory
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
as to grab advantage of market
opportunities and achieve heights.
WO strategy
Through worldwide
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
strategies for cost-minimize,
good pricing policy,
expansion, online trading &
others to minimize both
weaknesses and market
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
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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
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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.
In addition to this, business also posse’s various activities which assist to make
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
can also use sustainable development of employee’s performances which make
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.
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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.
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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 be prepared
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 action Milestone
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
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18% in
2017
Expansion
programs
Project leaders Strategic
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 Development as part of action plan many steps will be undertaken by the business firm.
In this regard, first contact will be established with the web developer and prototype of the
product will be developed. Under prototype layout of the website will be prepared. 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
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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
positive impact on the enterprise (Thomas, 2013). There are different proposed 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, they can easily make goodwill through attract various customers.
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 each Include
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.
Appropriate human resource management assists to provide responsibility of each
member within the firm (Rainer, Cegielski and Sanchez-Rodriguez, 2013). It also helpful
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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
which develop organization operations and sustainability for attain competitive
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,
stabilizing ad solidifying which make changes at workplace. Changes are made to the
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:
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Improvements Time scale for activity
Enhance physical stores Within 1 year
Contact with international business Within 1 and half year
Innovation of things Almost 10 to 11 months
Maintain CRM Within 4 to 5 months
Increasing in online portals Almost 2 years
Within the given time frame, the big swing company Ltd. can easily maintain
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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Figure 1 sales 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,
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it also assesses strength and weaknesses of the company which generates high revenue through
developing operations at workplace.
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REFERENCES
Books and Journals
Berger, A.N., Cowan, A.M. and Frame, W.S., 2011. The surprising use of credit scoring in small
business lending by community banks and the attendant effects on credit availability,
risk, and profitability. Journal of Financial Services Research. 39(1-2). pp.1-17.
Bovée, C.L. and Thill, J. V., 2015. Business in action. Pearson.
Bridge, S. and O'Neill, K., 2012. Understanding enterprise: entrepreneurship and small
business. Palgrave Macmillan.
Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave
Macmillan.
Chaston, I., 2014. Small business marketing. Palgrave Macmillan.
Cowling, M., Liu, W. and Ledger, A., 2012. Small business financing in the UK before and
during the current financial crisis. International Small Business Journal. 30(7). pp.778-
800.
Dennis Jr, W.J., 2011. Entrepreneurship, small business and public policy levers. Journal of
Small Business Management. 49(1). pp.92-106.
Down, S., 2015. Narratives of enterprise revisited: methodological appendices in ethnographic
books. Journal of Organizational Ethnography. 4(1). pp.28-43.
Halabí, C. E. and Lussier, R. N., 2014. A model for predicting small firm performance:
Increasing the probability of entrepreneurial success in Chile. Journal of Small Business
and Enterprise Development. 21(1). pp.4-25.
Halme, M. and Korpela, M., 2014. Responsible Innovation toward sustainable development in
small and medium‐sized enterprises: a resource perspective. Business Strategy and the
Environment. 23(8). pp.547-566.
Herbane, B., 2010. Small business research: Time for a crisis-based view. International Small
Business Journal. 28(1). pp.43-64.
Karataş, Özkan, M. and Chell, E., 2015. Gender inequalities in academic innovation and
enterprise: a Bourdieuian analysis. British Journal of Management. 26(1). pp.109-125.
Rainer, R. K., Cegielski, C. G. and Sanchez-Rodriguez, C., 2013. Introduction to information
systems: Supporting and transforming business. John Wiley & Sons.
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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
The Big Swing company limited. 2016. [Online]. Available through:<
https://beta.companieshouse.gov.uk/company/05819000>. [Accessed on 19th January
2016].
The Big Swing Company. 2015. [Online]. Available through:
http://www.bizdb.co.uk/company/the-big-swing-company-limited-05819000/.
[Accessed on 19th January 2016].
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