Small Business Entrepreneurship Analysis

This assignment delves into the multifaceted nature of small business entrepreneurship. It necessitates a comprehensive analysis of entrepreneurial marketing strategies (Jones & Rowley, 2011), the role of networks in innovation and firm performance (Gronum et al., 2012), and the impact of innovation on business performance (Forsman & Temel, 2011). Additionally, it explores issues in SME development in Ghana and South Africa (Abor & Quartey, 2010) and evaluates patterns of innovation in small firms (Freel, 2005). The assignment also includes a case study on Fitness Pro: Managing a Growing Business (Tompkins Jr et al., 2006), requiring an analysis of the business's strategies and recommendations for improvement.

SMALL BUSINESS ENTERPRISE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
1.1 Produce a profile of a selected small business identifying its strengths and weaknesses 1
1.2 analysis of the business using comparative measures of performance.............................2
Task 2...............................................................................................................................................3
2.1 Recommend with justification, appropriate actions to overcome the identified weaknesses
in the business.........................................................................................................................3
2.2 How to maintain the existing performance in the company and strengthen....................4
2.3 Recommend with justification, new areas in which the business could be expanded.....5
Task 3...............................................................................................................................................6
3.1 Produce an assessment of existing business objectives and plans...................................6
3.2 How business overcome from uncertain situation by changes in their business plans....7
3.3 Prepare an action plan for the business to implement the changes..................................8
Task 4...............................................................................................................................................9
Prepare a report of the proposed changes on the business and its personnel.........................9
How the changes will be managed in the business...............................................................10
4.3 Monitor improvements in the performance of the business ..........................................10
CONCLUSION :............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Task 1
Small scale business enterprises is small medium sizes enterprises. Small scale business mainly
star up of sole proprietor or in partnership. Which have less number of employees and less
number of sales and technologies in this project contain different topics related to small scale
businesses how they overcome from the problems how employees exist in the company which
business plans helps to maintain business growth. What strategies should small enterprise take in
that situation. Some small scale enterprises mainly bound by lack of financial resources For
example this project takes the example of small enterprise that name is The gym group it is a
small based enterprises which provide gym services to the customers at reasonable price you
going to read different business strategies function undertaking to create business growth.
1.1 Produce a profile of a selected small business identifying its strengths and weaknesses
These small scale business mainly present in every industries. This is an independent
firm which have less than 50 employees these firms generally situated in small city in today's
market many small scale business are starts and earn good income but on the other side due to
heavy competition most of the SME industries are left the industry as well. Government provides
many services for small scale businesses to initiate and develop the market. Smaller firm are
found in wholesale and retail trade, the hotel restaurant businesses communication and business
services etc. For example The gym group situated in united kingdom established ion 2007. The
gym group is a gym where every person goes and get fit body (Malhotra, and Temponi, 2010).
The gym group got the prize of the 'Budget Gym of the year Award' in National fitness award in
2011. Its special key point is They provide 24/7 services at reasonable fees. And provide
flexibility to their customers.
Strength and weaknesses of Small scale enterprises :
Strength : The following strength of small scale enterprises are.
Small scale enterprises have good communication with their employees and with the customers
as well.
Required less number of financial resources.
Helps to maintain discipline among small number of employees.
Required less resources and technology.

Small businesses have not required to invest on promotional activities.
Easy to enter and east to exit.
Involves flexibility, short goals, easy to control.
Weaknesses : The following weaknesses of small scale enterprises are.
Limited resources to operates challenges due to less financial resources.
Lack of highly required technology.
Small turnover.
Involves high competition.
Lack of specialised employees.
Lack of proper guidance in excision making.
Risk in sustainability due to changes of needs of customers.
1.2 analysis of the business using comparative measures of performance.
Analysis of the small scale enterprises
On the basis of Quality services.
On the basis of Employment turn over.
On the basis of Profit.
(1) On the basis of Quality services :
Services are the measure part for the customers who invest their money. Services always
matter in relates of customer or for service provider. Customers are very smart and knowledgable
to find the best place where they get different services at less price. Let's take an example of the
gym group which is small based business in united kingdom establishes in 2011 it is a unique
gym where customer feel relaxed ad get maximum satisfaction. They provide trail membership
for free of cost to their customers (Longenecker, Petty and Hoy, 2013). They provide different
plans according to the customer needs. Operates 91 exercise and recreation centres in 20 states.
They provide life cafe inside their campus for their customers like health drinks, Variety of
exercise and equipments, salon spa etc. On the other side another SME which name is Pure gym.
Pure gym is also a small scale enterprises situated in Leeds united kingdom founded in 2009.
Also, It is a privately held company. Its quality services are they provide low price and high
quality, highly managed equipments and infrastructure. Give 50 free classes ever week to the

customers and provide specialised trainers all over the place. They provide online booking which
is the special feature for the customers. So the conclusion is business are based on what you are
provided different from others which is more compatible.
(2) On the basis of Employment turn over.
Employment turnover of the business is always depended upon the companies image every
employee wants to get good income, healthy work environment, good communication of
colleagues and most importantly all the facilities provided by the employer. Example The gym
group provide good facilities' infrastructure to the employees and good amount of salary. On the
other side pure gym which also in same line of business. Provide good employment facilities
provide cafe for food, good amounts of salary.(Stokes and Wilson 2010.) So these are the points
through which two companies are review on the basis of employment turnover by measuring
their key feature.
(3) On the basis of Profit.
Profit is the benefit which company earns during a financial year. After that they invest
again into some important thing and save some amount for future use. (Jones and Rowley
2011)On the basis of profit the comparison between two SME are first the gym group which is
established in 2011 and second is pure gym which is established in 2009 the gym group earn 10
% less profit in this year and pure gym earn 5 % more profit in this year. Profit are based on the
quality of good services based on the number of employees based on the facilities providing by
the business to the customers. Every business have their own profit ration depend upon the
services.
Task 2
2.1 Recommend with justification, appropriate actions to overcome the identified weaknesses in
the business
1. Lack of financial resources
Small scale enterprises are small based businesses. In which they invest small amount of money
and resources to full fill small requirements. They have limited resources to complete the final
requirements and earn profit. (Gronum Verreynne, M.L. and Kastelle 2012)To expand the
business they need money and resources. But in current situation government create many

schemes for small based enterprises so that the business expand their business and earn
maximum profit also to increase standard of living and provide variety of good and services.
To overcome from this problem business needs proper planning with financial manager and
make proper plan that how much amount needed which resources are required all operational
activities to full fill short term and long term requirements.
2. Lack of professional skills
It is essential to maintain proper staff and competent staff for the business development.
Generally in small scale businesses have low superior staffed.(Forsman and Temel 2011.) So
that business face the problem in current highly tech scenario to overcome from this situation
company can arrange training and development and hiring new technology for its employees and
hired talented qualified employees and give them proper guidance to work effectively and
efficiently.
3 lack of proper planning
In small scale enterprises specifically have lack of proper plans because of improper sills and
knowledge. Overcome from this situation company should adopt proper strategies good business
plans new idea of expansion. Take weekly review of employees working. Take action against
those employees who are not serious about his work. Decide company objective than decide
short term goals to achieve long term goals. Explain the duties and responsibilities to the
employees. Give chance to new employees to take initiative and give new ideas.
2.2 How to maintain the existing performance in the company and strengthen.
Employees are the human resource in the company so it is incumbent for the employee
and for the company to maintain its stability in the company as long. At the time of the interview
employee get associated with the company and give assurance to the company that its work
always helps to the company's growth. (Abor and Quartey 2010.)And for the behalf of giving

contribution company pay some amount of salary. On the basis of his qualification and skills. It
is the responsibility of the employee to maintain his position in the company as long with good
honour and with good remuneration as well.
What qualities should have in good employee to maintain his position in the company as long.
Employee should not use internet during works hours. Otherwise, they can not contribute their
time in the company's goal. They should create new ideas from his knowledge and give the high-
grade business plans to the company. Take participate in other activities in the organisation and
take initiative towards group activities. Give suggestion and different work ideas so that
companies satisfied with the work and appreciate by giving bonus price amount and different
employees benefits. Have good relation with managers and with the employees. Always give
positive thoughts and self motivated towards itself. Always passionate about his work. One
important thing in which most of the human resource get stuck in its working careerer that is
politics employee should always away from company gossips. Always listen to the manager and
give preference to your employment. Take suggestions from your senior employee. Always
make happy to others by your work. Be Always a hard working employee in the company. Every
employee have leadership power to lead the group. And helps to achieve organisation goal.
These are the factors helps to keep maintain the existing performance in the organisation
So that in conclusion the gym group employees should adopt these qualities to maintain its
existing performance in the company and helps to achieve business objectives.
2.3 Recommend with justification, new areas in which the business could be expanded
On the basis of geographical area.
If company wants to expand their business. What essential points should they have adapted to
achieve that goal. Supposed The gym group wants to expand their business geographically. They
want to start their branches in India. (Charantimath, 2005.)First they have to find out their
competitors and its services. Identify the needs and wants of Indian customers. Prepare a
complete business plaining for a new area. From where you get arrange your finance resources
prepare promotion ideas get approval from the government.
On the basis of Product expansion.

If company wants to enhance their product or services to maintain its existing customers or
attract new customers. For example the group gym wants to create new services for their
customers so that first they have to identify that which kind of service my customers wants on
the basis of current requirement. Business create new product plans accordingly.
On the basis of market expansion.
In this segment business man also create innovative idea to expand market. For example gym
owner wants to give healthy food services along with the existing services.(Tompkins Kent and
McDonald 2006) Like in this segment they provide healthy juices healthy diet for the customers
or they open one consultancy for giving advise on the health issue. So In different ways they
expand their business to attract number of customers. And maximise profit.
On the basis of technological expansion
On the basis of technological expansion means company use new technique for giving the best
service to the customer like the gym group purchase new machine for reducing fat for senior
customers who doesn't give much time in the gym. So in this situation those age group persons
attract to the gym more effectively and feel satisfied. On the other side if company wants to
expand internal environment they use the best technique and method for employees and give
them proper training and guidance about new technology for better growing productivity so that
company achieve their target in efficient manner.
Task 3
3.1 Produce an assessment of existing business objectives and plans
Business objectives are the most important thing which is company do in the time of
business planning. In business management the first step is to perform business planning in
which manager start to manage business plans during the year to achieve companies objectives.
The gym business objective is to provide best services to their customers business objective
helps company to grow business objectives are formed after identifying the strategies of the
competitors.(Dobbs and Hamilton 2007.) For example the business plan of the gym business
their business plans to give additional services to the customers along with the exiting services
like hair spa, head massage. So that this year they attract more number of customers and earn

maximum profit. Business objectives always based on the competitors objectives what they
provide to the customers what strategies they used to attract the customers at what price they
give to the customers.
Business plans is process in which company introduce techniques methods to perform
task give roles and responsibilities to the employees business plans is the short summary by
which business estimate their profit. (Thomson, and McAdoo, 2015)The gym business plans
like to give less price of services or organise yoga classes for ladies these types of plans are helps
to grow business and helps ton maximise profit.
3.2 How business overcome from uncertain situation by changes in their business plans.
During the year sometimes business fails to achieve business plans or suddenly business goes
down due to changes of competitors plans. In that situation company has to change and modify
the business plans according to the situation. (Ekanem 2013. )Like for example the gym group
has planned to organise summer yoga classes for girls. Due to changes the plan of one business it
directly impacts on another business. Like the strategy of the gym group is directly impact on
pure gym business to minimize their customers in this sudden situation business has to change
and modify their business plan to cope up the situation and maintain the position in the market.
When rival company adopt new technology or new strategies to attracts customers so in that
situation another company reduce their fees of the services to retain the customers. In every
business during the year many times company has to take sudden decisions and changes in the
business plans to achieve the target. In this critical situation manager should take positive ideas
and helps company to achieve the target. In this situation managers also use new technology and
new way of working so that the business growth is maintained as long. Give training to the
employees to overcome from the situation.(Street, and Cameron, 2007.) Give more quality
services so that customer feel satisfied with the facilities. And they retain with the company as
long
Conclusion is that business plans also may changes according to the situation. There are main
two Factors by which they affect to the company are :
Changes of techniques and strategies of rival company.
Changes of needs and wants of the customers.

Following steps would be taken :
Make positive changes.
Make changes in business plans.
Identify customer needs.
3.3 Prepare an action plan for the business to implement the changes.
The foremost function is to start planning organising and implementing. In the business without
planning there is no function is goes smoothly. So to implement the plan it is very important for
everyone in the business that what changes are going to be held. Every business plan involves
high risk weather they give profit or loss to the business. (Freel, 2005.)What step should be
taken by business in gym sector how to improve quality of this business to make the best action
plan to implement the changes.
1. In the business every one knows about the changes are going to be done in businesses so
that they know what is to be done to everyone and Objective of the action plan.
2. Adopt new approaches and methods to achieve the target then how many members are
going to be contribute their part in that action plans create groups and team and make one
department head.
3. Give responsibilities to the individual employees what they have to do what contribution
should they have to put in the business.
4. Implement your action plan.
5. Track the record of working of employees towards action plans measure the employee's
performance how much they are concentrate towards business goals.
6. Communicate the process between the business and give guidance to everyone according
to the situation.
In context of gym business it is very important for the person who take corrective business plan
and implement properly because this sector based on services. And customer are very smart they
know which services are better from others. Businesses always take care of its employees health
and give fully satisfaction.

Task 4
Prepare a report of the proposed changes on the business and its personnel
Staying Current Trends
In the business where you see different changes and positive result. New changes can help
business to connect current trends with the customers and give high opportunities
If business change their business plan according to the current needs of the customer they never
lacking behind and always move to the upper point. Consequences of changes may be positive
and negative as well.(Freel, 2005.) It depends upon the accepting level of the customers.
Changes are always created new opportunities new challenges in the business. Employees get
learned new methods of working get into new different environment new ideas innovative
learning.
Scope of New opportunities
The quality to embrace changes can helps to the business to overcome from the uncertain
situations and creating new opportunities.(Fritsch, Brixy, and Falck, 2006. ) This positive effects
give motivation to the employee to work more efficiently in the business to achieve the target
and learn new methods and techniques to do the work. Business also get market expansion and
business growth.
Helps to make innovative services
Business changes create opportunities to think new product and services. It gives enthusiasm to
the employees and motivated to work for getting promotion in the future.
Improve positive environment
In the business it is very important to maintain good environment among employees new idea
helps to maintain positive happy environment in the company

How the changes will be managed in the business
We can see many changes in the business all the time and Make plan to remove hurdles by
giving business plan.(Moore, and Spence, 2006. ) But it is the second step to managed those
changes after implementing. There must be create many problems like wrong execution, difficult
to understand, lack of communication between members and on the other hand check the rival
company's performance accordingly. In the business exchanges may occur more work or
expenses how the employees take new changes. So this is the key points which is important to
manage in the business take regular feedback from employees and take review from the
customers that weather they are satisfied or not. Explain the benefits of changes to the employees
so that they work accordingly. Take weekly group meeting with employees
key points to manage changes in the business
 Protect negative thoughts
 Take feedbacks from employees
 Create group activity to share thoughts and ideas.
 Proper plaining should be adopted.
 Proper control on other activities.
 Remove unwanted sources from the business.
 Proper implementation should be done
 Flow of the communication between employees properly.
4.3 Monitor improvements in the performance of the business
 Benchmarking is essential element in assessing business performance. Business
performance is highlighted by efficient performance of the concern and helps to maintain
the strategies and to fill out the gaps which are in business of the organisation.
 Measuring innovating performances of the organisation helps to focus and
ultimately increase the return on innovation activities. Also, communicating, business
performance against measures is powerful tool in way to engage people in the
organisation. The gym group company evaluates its performances in such way that it

accomplish the tasks of the organisation. This means that interpreting results that are
highly visible in the business. Input measures should be committed to innovation so that
it can be operated in efficient manner. Human resources should be committed to
organisational goals and aims. They should provide with useful insight in totality. This in
turn helps company to monitor the business performance in effective way that will attain
organisational objectives.
 The implementation of ideas should be there to have a clear understanding of the
business of the concern. In output, market growth should be analysed and firm should try
to increase and maximise it to full extent so that it does not lack behind its competitors
and a eye on business performance be kept. Lastly, consumers be satisfied and all their
demands and needs should be fulfil so that they may build trust on firm. This might be
done by asking of valuable feedback from them and implementing those in their priorities
list so that they may gain more and more customers base by fulfilling their desires to full
extent. This will help the organisation to flourish in their operations and will gain more
profits in totality. Consumers satisfaction is must for organisation as it leads them over its
rivals.

CONCLUSION :
According to this project it includes the role of small scale enterprises scope how organisation
compete with other organisation and its advantages and disadvantages. For example the gym
group which is the small business situated in united kingdom and provide gym services to the
customers small scale businesses have low fund to invest and lack of resource's as compare to
big enterprises' strength of the SME is too easy to control manageable but on the other side it has
lots of disadvantages which is less finance resources lack of qualified employees etc. In first task
there is a explanation of rivals company and its ideas to overcome the problems and get
maximum profit. In second task we explain about the employees' performance in the business
how they become goodwill and asset of the business how they contribute their share in the

bushiness objectives. Also, introduced the areas of expansion in which they create more profit
and more business objectives. In third task there is a business plan how business plan are formed
how they are manageable and how it is implemented. There are many methods and techniques by
which business adopt the best business plan for its customers. How things are going in the
process of implementation. Without follow-up nothing plan is successful. For good result
business person has to control things properly.
Small medium enterprises are very easy to form but it involves risk as well. In this project how
the gym group overcome from its situation and how they create new business plans fr its great
expansion all things are mentioned. New ideas they take to go one step up how they mange
things properly with the employees. So this topic cover all things of Small medium enterprises.
How small scale business convert their ideas into great innovation.

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