Small Business Success Factors and Marketing Strategies

The provided document contains a list of sources related to the success factors and marketing strategies of small businesses. It includes articles and studies on the impact of E-marketing use, innovation capacity, resilience, and competitive advantage on small business success. The document also provides information on open innovation in SMEs and business orientations for innovation. A SWOT analysis theory is briefly discussed online.

Small Business
Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Profile of Reviveaphone and explanation of its strengths or weaknesses.............................1
1.2 Analysis of business by doing comparison with other firm..................................................2
TASK 2............................................................................................................................................3
2.1 Justification of taking proper action for overcoming recognised weaknesses......................3
2.2 Ways of maintaining and strengthening current performance..............................................4
2.3 Recommendations of new areas where by business can be expanded..................................5
TASK 3............................................................................................................................................6
3.1 Assessment of current business objectives and plans...........................................................6
3.2 Revising of business plan for incorporating changes............................................................7
3.3 Formulation of action plan for enforcing changes................................................................8
TASK 4............................................................................................................................................9
4.1 Effect of proposed changes on the workers and overall business.........................................9
4.2 Plan for how the changes will be managed in the business..................................................9
4.3 Improvements in the performance of the business over the past two years .......................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Small business enterprises are commonly established by some entrepreneurs who are
having the motive of enlarging their business and earning large sum of profits from that.
Nowadays, small and medium sized companies are growing at quicker rate and seeking attention
of most of citizens (Schaper and et. al., 2014). This is recognised that such types of businesses
are generating numerous chances to each and every people living in nation. Thus, it can be said
that those small business enterprises are able to improve knowledge and living style of common
public as well. The present report is explaining the strength and weakness of corporation. Here, a
firm has been selected from the series of Dragon Den which is Reviveaphone. They used to offer
services like repairing of cells phones in a single day. In this project, assessment on the current
business plans and objectives has been also described.
TASK 1
1.1 Profile of Reviveaphone and explanation of its strengths or weaknesses
SMEs simply refers to those enterprises which is having less employees and accomplish
their work at small level. These firms are being operated by entrepreneurs as per their own rules
and regulations as they have power to take decision in terms of their business activities. But
company needs to know its current position in market. For this, company requires to conduct
SWOT analysis so that they can get familiar about its strengths, weaknesses, threats and
opportunities as well.
Reviveaphone is a small business enterprise that is located in the United Kingdom in a
prime region so that they easily seek attention of more and more civilians towards the services of
repairing mobile phones. They are having only ten employees working within their company.
Even by having such a few strength, they are giving good quality services to their consumers.
This in turn helps them in maintaining their customer base (Williams and Schaefer, 2013). Thus,
for doing this, manager of Reviveaphone would have to carry out SWOT analysis.
Strengths:
 Main strength of this company is that they have several types of businesses in different
sectors.
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 Structure of working is very efficient. Thus, workforces are carrying out operations in
proficient manner.
 They are growing their business operations on regular basis.
Weaknesses:
 Individuals are not so much capable of comprehending tasks of one another.
 Pattern of work is not understandable by employees that would restrain their success and
development.
 Workers who are performing in this venture are less in quantity and in addition to this,
they are also not having good skill. Due to this reason, company is not capable of
attaining its aim and objectives in an effective way (Jasra and et. al., 2012).
Threats:
 The key threat for this venture is that competition is increasing day by day in the sector
of electronics market. Thus, as a result potential clients of this organisation moved
towards their other competitors. Because of this reason, sales rate of company get
reduced so much (SWOT Analysis: Theory, 2017).
 Apart from this, workforces are also not giving their best that is giving negative impact
on the overall performance of corporation.
Opportunities:
 Reviveaphone is having the key opportunity of expanding its business in more and more
areas so that they can earn large sum of income or profitability from this.
 Company at the same time has opportunity to improve their brand value by offering
innovative goods or services to the clients in order to retain them for a long period of
time. But for doing the same, they need to give effectual training and development
programmes to their work forces so that they can improve their working skills and gain
experiences. Then, as a result, they can attain their goals very easily.
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1.2 Analysis of business by doing comparison with other firm
This has been examined that competition is rising day on day. There are so many
competitors of Reviveaphone. One of the main challenger is Kent iphone Repairs which is
offering same time of services of repairing mobile phones. Comparison between both of them on
the basis of production, sales, marketing, human resources, etc. are mentioned below :
Reviveaphone Kent iphone Repair
This company perform the business of
repairing mobile phones specially that are
damaged from water. They are offering best
quality services and production to their
potential users.
On the other hand, this firm is also providing
same kind of services but are not meeting all
the demands of their clients ( Oyedijo, Idris,
and Aliu, 2012).
Organization is employing skilled and talented
workers by taking help of human resource
department. The size of venture is very less.
They consist of around 10 personnels so are
not able to deliver services on time.
They are also doing the same work but are
concentrating more towards their size. They
are employing large number of workers in a
single recruitment.
The sales rate of this enterprise is low in
comparison to the Kent iphone Repair as this is
small or medium sized company.
On the contrary, selling rate of this venture is
much higher than Reviveaphone.
TASK 2
2.1 Justification of taking proper action for overcoming recognised weaknesses
Reviveaphone requires to expand its business in more and more regions, thus, they can
easily upgrade level of its sales and profits as well in an efficient way. For this, employers have
to use appropriate methodologies and techniques so that their employees work in effective
manner and attain all pre-set goals and objectives of company (Philip, 2011). Besides this, by
doing the same, they can make their dream come true of offering the best quality services to
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civilians. This would not only this satisfy their customers, but also it will help corporation in
maintaining its brand image as well as consumer base.
Apart from this, it has been examined that there is continuous rise in competition in the
market place of electronics goods or services. Therefore, it is important for Reviveaphone to take
use of modern tools and technologies in order to enhance the quality of their work. Moreover, if
they will introduce any innovative or unique product for their clients then, it is essential for them
to keep eyes on present demand of the citizens of UK and recent marketing trends of electronics
as well. Thus, in turn they can attain appropriate judgement for their firm and additionally, they
would also become able to cut out all shortcomings or issues of their business which are acting
as hindrances and comes in the way of achieving success. Besides this, they can be capable of
maintaining reputation or image in front of their potential customers. By catching opportunities
from the existing market place, Reviveaphone can easily make enlargement in its business
operations. There are some common suggestions that would help cited firm in overcoming its
business issues:
 Before designing any product item, it is important for them to identify the current needs
or demands of civilians. Apart from this, they also require to find out the strategies of
their challengers so that they can manufacture different and good product or services in
comparison to them. By this way, they can effectively compete with its rivalry.
 Managers have to take help of human resource department so that they can recruit skilled
and talented workforces. Along with this, they should also focus on increasing number of
their employees so that they can complete their projects on time.
2.2 Ways of maintaining and strengthening current performance
Every firm has to analyse and measure its present performance and positioning at market
place. By this way, they can easily apprehend their requirements and desires appropriately. This
aspect can directly give influence to the working environment of corporation and their sales also
in positive as well as negative manner. On the other hand, firm requires to use proper techniques
and methods in order to manufacture better quality of products or services in an effectual and
efficient manner. This also assists them in meeting requirements and demands of customers
appropriately. For boosting confidence and moral of their employees, employers need to conduct
some activities associated with that such as training, incentive gaining opportunities, etc. As an
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outcome, they would perform their business in adequate way. In addition to this, they would
accomplish their work before given deadline of completing or submission of project. In order to
increase profitability and productivity of company, knowledge and abilities of staff members
also play an important role.
There are several ways that can applied by a manager in order to manage the work of
their work forces along with improving their performance. For example, they should improve the
system of administrations in their enterprise. In this respect, they need to implement some
appropriate rules and regulations so that they can control overall working of its personnels. Apart
from this, they need to arrange some training and development programmes where by some
leaders are appointed by giving them responsibility to offer best training and guidance to the
work forces. This will surely help corporation in increasing of performance as well as quality. In
addition to this, it will also help in maintaining good relationship with workers as leaders and
employers have the opportunity to get familiar about their nature or behaviours of them. This has
been examined that a single trained employee is capable of doing the task of three individuals
alone. Thus, main motive of Reviveaphone should be provide effective training programs to their
work forces so that they can gain all of its goals and objectives easily.
2.3 Recommendations of new areas where by business can be expanded
For making increment in terms of profitability, it is important for Reviveaphone to
concentrate on increasing its business in different regions. For this, they need conduct surveys in
order to find some areas where they can establish their market easily and can earn high income.
In this respect, they need to determine the desires and basic needs of people surviving in those
locations. Apart from this, they also should focus on the tradition, value and beliefs of such
citizens. If employer of cited venture wants to set their new market in other country, then this is
sure that they would face great losses as there are numerous of firms in that nation which are
offering same services. They should also note that such corporations have strong presence in
their market place. Henceforth, if Reviveaphone would establish its business in another nation,
they have to face some many difficulties while carrying out their business operations (Zortea-
Johnston, Darroch and Matear, 2012). By examining the current scenario of cited firm , it will
be good to set up new branches in other areas where in they are currently operating that is United
Kingdom. As it is a small company that is doing its business on small scale and its main work is
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of repairing of damaged cell phone effectively to their clients in single days; therefore, if they do
this operation in existing nation, they will surely develop a good customer base and in turn their
brand value will increase automatically.
On the other hand, if corporation eagerly wishes to expand its business activities in other
countries then they have a golden chance to offer their services and sell goods via online. By this
way, they remain at the same nation but also can do enlargement of its operation by selling their
products or services to citizens of more than one country.
TASK 3
3.1 Assessment of current business objectives and plans
Reviveaphone is a small sized organisation which is doing its conducing its business
operations on small scale , so they have the motto of expanding its business in different other
areas. Therefore, they can increase their turn over and sales in by doing the same. Moreover,
managers of cited venture have stated or designed some plans and strategies which is listed
below :
Objectives of business :
 Firm wishes to upgrade their productivity level and range of profitability as well as this
would help them to take entry in other market place.
 The key objective of corporation is to grab attention of more and more
customers(Broekemier, Chau and Seshadri, 2015).
 They want to develop innovative services or products by using modern technologies.
Vision :
 Their first and foremost vision is to deliver quality based products and services to their
potential customers. For this they need to employ skilled workers.
 They also thought to keep their promises that they have made with clients in order to
maintain brand equity.
 Besides that they supposed to offer safe and healthy working surrounding to their
personnels so that they improve employees – relationship from that (Bridge and O'Neill,
2012).
Mission :
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 Their mission is to get familiar with prerequisites of their purchasers so that they meet
their demands appropriately and give them genuine reason to buy more goods and
services from their organisation.
Business plan :
Steps Description
Research First of all , Reviveaphone has to explore the
condition of marketplace and the current
demands of their customers.
Determine the purpose of plan Moreover, it is important for manager to
recognise the purpose of doing development in
existing business plan.
Creating profile of corporation Then , it is essential to design an impressive
profile for the company.
Document all aspects After that firm need to provide the details of
their planning to investors and stakeholders, so
that they can invest money in their plan.
Choosing market strategies In this step, employer need to select effective
strategies in their business in respect to their
marketing operations.
Execution At last, they need to apply this business plan in
their organisation.
3.2 Revising of business plan for incorporating changes
By examining existing business plan or Reviveaphone, it can be said that their business
scheme is effective, but there are some areas which requires to be altered. At first,they should
focus on increasing their size. For this employers need to recruit workers in bulk. They also have
to examine the activities of their rivalries so that they always compete better from them by
offering satisfiable production and services (Chittithaworn and et. al., 2011).
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On the other hand, managers require to arrange effectual training activities in order to
train work forces in a better way. In fact after bulk hiring, they should design a training period of
around six month wherein they should give proper guidance to each individual and make them
skilled and experienced so that they can easily accomplish daily targets.
At the same time, employers need to formulate some plans that would increase the
morale of employees and bound them to give their best.
3.3 Formulation of action plan for enforcing changes
In order to implement all the discussed changes in business plan, Reviveaphone should
follow below stated action plan :
Tasks Duration Explanation
Designing of corporation
profile
Six days Company needs to develop an
impressive profile in order to
attract large number of
customers.
Market research Twenty days After that venture should
conduct investigation on the
current requirements of
citizens. For this, they have
make a special team wherein
members take interview of
people and ask them about
their expectations (Curran,
and Storey, 2016).
Selection of target market Five days Then, cited organisation have
to choose a market section
where they wish to expand its
business.
Marketing and sales Ten days Corporation requires to utilise
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and select appropriate methods
of selling their goods and
services having a notion of
capturing large market shares
and profitability (Chun and
Mun, 2012).
Request for funding Nineteen days Finally, they have to recognise
and arrange some funding
sources so that they can
implement such changes
easily.
TASK 4
4.1 Effect of proposed changes on the workers and overall business
Organisational Change may occur due to several reasons like: expansion, merger,
acquisition, shifting in business model, changes in policy and procedures. These changes are not
easy to apply hence, risks are calculated before implementing changes. The impact of changes on
Reviveaphone company and personnel can be impacted in the following ways:
 Employees become customary to adopt changes which will help them to improve their
performances and lead to accomplish the desire targets.
 Workers daily operational process get affected as they become acquainted with the new
implemented system or procedures.
 Business operations are performed with high energy after modifications have been done.
Hence, industry will gain the desired results in the future and helps in achieving the
growth in the market place (Eid and El-Gohary, 2013).
 New innovative ideas are also taken into consideration through the need of applying
changes in the industry. Various policies are drafted in order to give reaction to different
situation.
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 Changes also fosters the confidence in the whole management so that effective
communication can be achieved with the proper structure. Hence changes have the huge
impact on the organisational success and growth.
4.2 Plan for how the changes will be managed in the business
Changes have the huge impact on the people of the company. Hence, proper attention
should be ensured in order to mange the various aspects of the business. There is a need to define
modifications clearly to align the goals and objectives. Kurt Lewin prosed a model of performing
the change process in three steps which are discussed below -
 Unfreezing- This is concerned about the initial step before the alterations are made.
Every employee should the reasons behind executing the changes, to make them
understand about importance of reorganizing the structure.
 Changing- This step involves implementing the desired changes in the organisation
system. It also includes hardship of work force with the new situation (Fassin, Van
Rossem and Buelens, 2011). For this proper communication system should be executed
in order to gain benefits of the current situation.
 Refreezing- This is the last step in which management ensures about the elimination of
old system and continue with new system in future. Lewin believe that this step is very
essential to verify efforts towards the path of success. Positive behaviour should be
carried out to acknowledge overall efforts to gain the proper application of change.
4.3 Improvements in the performance of the business over the past two years
The overall performance of the company have been discussed below:
 Over the past two years company's growth have been increased from 10% to 25% which
is a positive point in the business life.
 Reviveaphone company system have been improved and leads to achievement of overall
objectives and goals.
 Human resource system have been enhanced from last years situation to the current
situation. Their graph have been increased from 50% to 60%. this is a positive growth .
 Over the past two years business operations have been improved which results in
achieving the set targets in a given time frame.
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 Employee turn over is also decreased from last two years. Workers are satisfied from the
company and hence contributes very well in the working process (Wynarczyk,
Piperopoulos and McAdam, 2013).
 Profits percentage have also been increased from last two years which is a sign of
successful establishment in the market place. There is a significant growth in the business
in two years.
 Various departments are enhanced according to the business environment changes in
order to keep in pace with the modifications.
(Source : Employability ratio, 2015)
CONCLUSION
From the above based report, it can be concluded that small business enterprises are
playing eminent role in a nation like UK as they are generating large number of opportunities for
the unemployed people. Henceforth, these corporations are contributing in improving the
economic condition of individual as well as whole country. Reviveaphone is one of the small
sized firm which is operating in UK and offering services in terms of repairing of damaged cell
phones. Aims, mission , business and action plan of this company has been explained in this
assignment.
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Illustration 1: employability ratio

REFERENCES
Books and Journals
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International Small Business Journal, 29(6), pp.671-694.
Bridge, S. and O'Neill, K., 2012. Understanding enterprise: entrepreneurship and small
business. Palgrave Macmillan.
Broekemier, G., Chau, N. N. and Seshadri, S., 2015. Social media practices among small
business-to-business enterprises. Small Business Institute Journal, 11(1), p.37.
Chittithaworn, C. and et. al., 2011. Factors affecting business success of small & medium
enterprises (SMEs) in Thailand. Asian Social Science, 7(5), p.180.
Chun, H. and Mun, S. B., 2012. Determinants of R&D cooperation in small and medium-sized
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Curran, J. and Storey, D. J. eds., 2016. Small firms in urban and rural locations. Routledge.
Eid, R. and El-Gohary, H., 2013. The impact of E-marketing use on small business enterprises'
marketing success. The Service Industries Journal, 33(1), pp.31-50.
Fassin, Y., Van Rossem, A. and Buelens, M., 2011. Small-business owner-managers’ perceptions
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Wynarczyk, P., Piperopoulos, P. and McAdam, M., 2013. Open innovation in small and medium-
sized enterprises: An overview. International Small Business Journal, 31(3), pp.240-
255.
Zortea-Johnston, E., Darroch, J. and Matear, S., 2012. Business orientations and innovation in
small and medium sized enterprises. International Entrepreneurship and Management
Journal, 8(2), pp.145-164.
Online:
SWOT Analysis: Theory. 2017. [Online]. Available
through:<https://research-methodology.net/theory/strategy/swot-analysis/>.
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