Assignment on Small Business Management Sample
Added on 2020-07-23
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Small businessManagement
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1Business overview.......................................................................................................................1Financial overview......................................................................................................................1Vision statement..........................................................................................................................2Business objectives.....................................................................................................................2Opportunities and threats............................................................................................................2Business summary.......................................................................................................................3Market analysis...........................................................................................................................3Types of customers.....................................................................................................................4Types of product or service.........................................................................................................4Marketing and promotion............................................................................................................5Main competitors........................................................................................................................5Start up costs and funding...........................................................................................................5REFERENCES................................................................................................................................6
EXECUTIVE SUMMARYIn today's scenario number of small companies are growing in a fastest way due toincrement in consumer demand. However, various entrepreneurs are coming with innovativeideas in order to offer best or distinguish products to entire society (Barbero, Casillas andFeldman, 2011). Therefore, assignment is going to highlight an appropriate business plan whichis required to businessmen for establishing a new organization at marketplace. Moreover,financial overview, competitors analysis, objectives of an enterprise, opportunities or threats andanalysis of several necessary facts or figures are outlining in this project. Business overview“Foodie RESTRO” is a small business entity which is established in a local area ofEuropean marketplace in order to offer various options in foods or beverages. Moreover, theirmain objective is to facilitate common people with various tasty or delicious dishes such as;sandwiches, burger, fried rice, Manchurian, Pasta and several types of hot or soft drinks. Alongwith this, ingredients used for cooking these foods are healthy in nature as well as customersreceived fresh dishes because employees are working 24*7. Basically, initial investment of an entrepreneur is around “10000£” whose first orforemost aim is to capture the attention of maximum clients by offering them with best servicesor food quality. Therefore, it has been assessed that managers of an enterprise is forecasting thatannual profit of a company is almost"£20, 500” at the end of first year, 2nd year it has beenassumed as a “£ 71, 200”. As a result, economy of a nation get developed due to enhancement inliving standard of common people by offering them with employment opportunities (Colomboand et. al., 2012).Financial overviewAfter analysing current situation of an enterprise managers are trying to expand theirbusiness entity by forecasting their company sales of initial year. Mainly, in order to improve theexisting positioning an association needs to assess their financial department by forecastingprofit of first year. Thus, sales for initial year is assumed around £50,100. Hence, it has been analysed thatthere is a major difference between actual performance of a company and projected one. As aresult company is facing high range of loss due to which it requires changes in their current1
strategy, financial schemes, policies and so on. Therefore, an appropriate cash flow statementand profit or loss account is highlighted as follows:- According to above graphical representation it is forecasted that in second year firm isimproving their performance by increasing their sales which resulted in maximization oforganizational profit. For example; initial year annual income of an enterprise is around "£20,500 whereas in coming year it get increased by 10000£ and become almost 35, 500£”Vision statement“Foodie RESTRO” believes in offering reasonable products or services to theirconsumers as compare with their competitors. Main vision of an association is to bring two bestfactors at one place that is ; price and quality (Eid and El-Gohary, 2013). Along with this, theirmain motive is to establish their goodwill at marketplace by continuing their business for longerperiod of time in order to become one of the successful or best food restaurant in local areas ofUK. Business objectivesGoals of an enterprise is classifying into short term, medium term and long term periodfor enhancing their organizational performance. Short term:- Trying to fulfils the needs or desired of maximum clients.Medium term:- In coming years managers of an enterprise is planning to grow theirbusiness by expanding existing business into some other regions.Long term:- Dream to become one of the best food restaurant across the UK by acquiringtrust or loyalty of numerous clients. Additionally, believes in establishing their positiveimage at marketplace by gaining maximum return on their investment. 2Year 0/1Year 2/3£20, 500£35, 50010000 £10000 £20000 £30000 £40000 £50000 £60000 £
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