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Small Business Enterprise TABLE OF CONTENTS INTRODUCTION 1 Task 11 1.1 Strengths and weaknesses of a selected small business

   

Added on  2020-07-22

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SMALL BUSINESS ENTERPRISE

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................11.1 Produce a profile of a selected small business identifying its strengths and weaknesses11.2 analysis of the business using comparative measures of performance.............................2Task 2...............................................................................................................................................32.1 Recommend with justification, appropriate actions to overcome the identified weaknessesin the business.........................................................................................................................32.2 How to maintain the existing performance in the company and strengthen....................42.3 Recommend with justification, new areas in which the business could be expanded.....5Task 3...............................................................................................................................................63.1 Produce an assessment of existing business objectives and plans...................................63.2 How business overcome from uncertain situation by changes in their business plans....73.3 Prepare an action plan for the business to implement the changes..................................8Task 4...............................................................................................................................................9Prepare a report of the proposed changes on the business and its personnel.........................9How the changes will be managed in the business...............................................................104.3 Monitor improvements in the performance of the business ..........................................10CONCLUSION :............................................................................................................................11REFERENCES..............................................................................................................................13

INTRODUCTIONTask 1Small scale business enterprises is small medium sizes enterprises. Small scale business mainlystar up of sole proprietor or in partnership. Which have less number of employees and lessnumber of sales and technologies in this project contain different topics related to small scalebusinesses how they overcome from the problems how employees exist in the company whichbusiness plans helps to maintain business growth. What strategies should small enterprise take inthat situation. Some small scale enterprises mainly bound by lack of financial resources Forexample this project takes the example of small enterprise that name is The gym group it is asmall based enterprises which provide gym services to the customers at reasonable price yougoing 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 independentfirm which have less than 50 employees these firms generally situated in small city in today'smarket many small scale business are starts and earn good income but on the other side due toheavy competition most of the SME industries are left the industry as well. Government providesmany services for small scale businesses to initiate and develop the market. Smaller firm arefound in wholesale and retail trade, the hotel restaurant businesses communication and businessservices etc. For example The gym group situated in united kingdom established ion 2007. Thegym 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 in2011. Its special key point is They provide 24/7 services at reasonable fees. And provideflexibility 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 customersas 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 alwaysmatter in relates of customer or for service provider. Customers are very smart and knowledgableto find the best place where they get different services at less price. Let's take an example of thegym group which is small based business in united kingdom establishes in 2011 it is a uniquegym where customer feel relaxed ad get maximum satisfaction. They provide trail membershipfor free of cost to their customers (Longenecker, Petty and Hoy, 2013). They provide differentplans 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 ofexercise 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 highquality, highly managed equipments and infrastructure. Give 50 free classes ever week to the

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