TASK 12 A- Profile Description of the Skinnydip
Added on 2020-06-04
15 Pages4518 Words238 Views
SMALL BUSINESSENTERPRISE
ContentsINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................2A- Profile description of the Skinnydip.......................................................................................2B- Comparing the performance of company with same type of business...................................3TASK 2............................................................................................................................................3A- Methods or actions to overcome the weaknesses...................................................................3B- Ways to maintain and strengthen the existing performance of company...............................4C- New areas in which the company can expand its business.....................................................5TASK 3............................................................................................................................................6A- Analysing existing business objectives and plans of company..............................................6B- Reviewing business plans and suggesting areas where changes can be made.......................7C- Action plan to implement the changes-..................................................................................7TASK 4............................................................................................................................................8A- Impact of proposed changes on business and its personnel...................................................8B- Plan to manage the changes in business.................................................................................9C- Improvements of performance of business over past two years...........................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................121
INTRODUCTIONSmall business enterprises are that firms who starts with small amount of capital. Theseorganisations have fewer number of employees (Bridge and O'Neill, 2012). They work indirection of providing satisfaction to the customers. Skinnydip is the small business enterprisewhich sells fashionable mobile cases, speakers and headphones. Now they have their business inmany countries. This report studies the background, history, strengths and weaknesses of thecompany. The cited company is compared with same type of company in the industry.Suggestions are given to overcome the weaknesses and to strengthened the existing performance.New areas are suggested to expand the business. Present business objectives and plans areanalysed. Business plan are reviewed and suggestions are given to make the changes in particulararea. Action plan is implemented for the change. Impacts of changes on the business and itspersonnel. Plan to manage the changes in the business and improvements in the businessperformance over the past 2 years are discussed.TASK 1A- Profile description of the Skinnydip.Company name- SkinnydipOwner- The cited company is owned by the two brothers from London Richard andJames with their friend Lewis Blitz. Three of them had entered the Dragon's Den.Background- The business was launched in the year of 2011. This business was startedby the two brothers and their one friend (Longenecker, Petty, Palich and Hoy, 2013). Thebusiness was launched in North London. In the year of 2012 they had entered theDragon's Den. The cited business work in the direction of selling fashionable mobilecovers, speakers and headphones to their customers. The business had grown very in thepast years. Activities- Skinnydip follows many activities in the business. They produce thefashionable accessories for mobiles, speakers etc. All the products produced in thecompany are in their own brand name (Stokes and Wilson, 2010). They provide allranges quirky mobile cases and other accessories to their customers.2
Location- The company had started its business from North London, United Kingdom.Now the business has expanded in more than 30 countries. Soho and New York are themarkets where company had recently expanded its business.Strengths and weaknesses- The cited company had the strength of its own brand name.They launch new and innovative products time to time for their customers. They haveskilled and loyal workers in their team (Gronum, Verreynne and Kastelle, 2012). Theyreuse their profits in further development of the company. SkinnyDip also have someweakness in their business operation. Not giving home delivery service is their biggestweakness. They have many stores but not achievable for many ranges of customers. Thecompany has very less number of workers. The cited company had also the weakness ofstrongly fighting with their competitors in the market.B- Comparing the performance of company with same type of business.There are many companies who are producing the accessories for various technologies inthe market. Skinnydip faces strong competition with the products made by the company ofApple. The product of Apple's iPad mini case had given strong competition to the accessories ofthe cited company (Herbane, 2010). Both the companies works in same industry but aredifferent in their size of business. Skinnydip uses many new and innovative methods to theircustomers and strongly faces the competition in the market. Apple company has very strongbrand name and is very much reputed among their customers. The cited firm produces manyinnovative and creative new products to attract the customers towards them. They understand allthe perception and needs of their customer and make their products according to them. On theother hand Apple company doesn't feel any threat with skinnydip because now they had becomevery big and had expanded their business in the whole world.The cited company is very small for in comparison with the Apple. Growth of Apple hasbeen decreased in the year of 2016 from 8.89%. But the growth of organisation got increased inyear 2017 by 12%. Employees who work in Apple are more in number than the Skinnydip. Onthe other hand Skinnydip has been growing continuously from the past two years. 3
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