Assignment On Small Medium Sized Enterprises Of UK
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Added on 2020-02-12
Assignment On Small Medium Sized Enterprises Of UK
Added on 2020-02-12
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SMALL BUSINESSENTERPRISE1
TABLE OF CONTENTINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................31.1 Profile of a selected business, Levi Roots.............................................................................31.2 Analysis of financial business performance of Levi Roots & Hungry House.......................4TASK 2.................................................................................................................................................52.1 Recommend with appropriate actions to overcome the weaknesses.....................................52.2 Analysis of ways through which performance can be maintained & strengthened...............72.3 Suggest new areas in which the business could expand with reasonable justifications........8TASK 3.................................................................................................................................................93.1 Assessment of existing business plans and objectives...........................................................93.2 Revision of business plan to incorporate changes...............................................................103.3 Action plan to implement changes.......................................................................................10Task 4.................................................................................................................................................124.1 Impact of proposed changes on business and its personnel.................................................124.2 The way changes will be managed in business....................................................................124.3 Monitoring of improvement in performance.......................................................................13CONCLUSION..................................................................................................................................14REFERENCES...................................................................................................................................152
INTRODUCTION In UK, small & medium sized enterprises make a significant contribution in the growth &success of the nation. Organizations that hire less than 250 workers and generate turnover below50m Euro are called SMEs and contributes in the success & growth of the nation. Dragon DenUK is a television format that aims at promoting the small and medium sized entrepreneur fortheir growth. The present assignment here emphasizes on a SME business named Levi RootsReggae Reggae Foods Ltd that offers wide range of BBQ spice sauces to a larger number ofconsumers. Along with this, its performance will be compared with its rivalry firm, HungryHouse. Along with this, Levi Roots will be suggested with the best ideas and strategic decisionsto overcome the weaknesses and strengthen its position. In addition to this, its current plans &business strategies will review and analysed to make appropriate changes and smarter decisions.Lastly, the reports present a critical analysis of the prospective changes that how it will impactthe company and its personnel. Moreover, a plan will be created how the changes will bemanaged in the corporation to bring significant improvement in the business. TASK 11.1 Profile of a selected business, Levi Roots Name of the business: Levi Roots Raggae Raggae Foods LtdOwner structure: Levi Roots is a private limited company by shares which collects fundsthrough issuing shares to the relative, friends & family members without any public issue. Eachshareholder is liable up to the maximum amount of share capital owned. History/background: Levit Roots was established in the year 2007 and offers various range ofspicy BBQ sauces to the target consumers. Its success was really impressive because initially,Duncan Bannatyne said that there was no future for Levi Roots business. But investment worth50000 GBP by Peter Jones & Richard Farleigh bring a fast forward improvement in itsperformance and after just 8 years, Roots success proven Ducan wrong and became a successfulorganization. 3
Activity: Levi Roots provides number of hot spicy sauces to a great number of audiences in UK,because it offers its sauce products in all the supermarkets. Moreover, Caribeean flavoured foods& drinks also satisfying high proportion of population and serving them in the best manner. Business location: It is located in UK and Raggae Raggae spicy sauces are available in all thesupermarkets of UK. However, on the other side, Roots expanded its coverage to the chilledready meals, soft-drink in Caribbean flavour & pasties. Strengths and weaknesses:Strengths:Wider goods portfolio through offering wide range of BBQ spicy saucesBest quality products maximize its competitive strength Excellent consumer base as its products are offered in all the UK supermarkets Good market reputation & corporate image Weaknesses:Difficulties in collection of long-term funds Ineffective control of the mangers on cost Poor inventory management & warehousing strategyLess skilled & inexperienced staff base1.2 Analysis of financial business performance of Levi Roots & Hungry House Hungry House is a competitor of Levi Roots that offer online food delivery to the audiencesand established in the year 2007. It was established with 150 restaurant in 2007 expanded to2500 till 2010 and has continued to expand operations across various places to serve higherusers. It focuses to expand their restaurant platform across UK to enhance high-yielding audiencebase & perform better. Year Levi Roots Hungry House Net profitTurnover Net profit ratio Net profit Turnover Net profit ratio 2012890290030.69%720236030.51%2013960300032.00%860254033.86%20141030400025.75%930283032.86%20151200420028.57%1280334038.32%20161380490028.16%1470423034.75%4
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