Growth Strategies for Small Businesses

This assignment delves into the strategies employed by small businesses to achieve growth. It examines various theoretical frameworks and empirical research on entrepreneurship and business development. The analysis draws upon a range of sources including scholarly articles, books, and online resources to evaluate different approaches to scaling up operations, expanding market reach, and enhancing financial performance. Specific examples of successful small businesses are likely analyzed to illustrate the application of these growth strategies in practice.

SMALL BUSINESS ENTERPRISE

Table of Contents
INTRODUCTION................................................................................................................................3
TASK 1............................................................................................................................................3
1.1....................................................................................................................................................3
1.2....................................................................................................................................................4
TASK 2.................................................................................................................................................5
2.1....................................................................................................................................................5
2.2....................................................................................................................................................5
2.3....................................................................................................................................................6
TASK 3.................................................................................................................................................7
3.1....................................................................................................................................................7
3.2....................................................................................................................................................8
3.3....................................................................................................................................................9
TASK 4.................................................................................................................................................9
4.1....................................................................................................................................................9
4.2 ...............................................................................................................................................10
4.3..................................................................................................................................................11
CONCLUSION..................................................................................................................................12
REFERENCES...................................................................................................................................13

INTRODUCTION
In today's era competition makes the whole quality process straighter. Small Business
Enterprises have wide potential of growth if the business operations are managed and operated in a
well defined manner (Cooper and Burke, 2011). The entrepreneur is expected to manage the risk
and incorporate the latest trends to develop a USP for the company. The workforce in these type of
companies is very much limited and mostly are privately owned and operated sole proprietorships,
corporations or partnerships. The below carried out analysis is based on Austin Fraser Limited
which is a technical recruitment specialist with a motto of providing the best services. The entity is
operating the business activities in technical recruitment within the engineering, IT and Life science
sectors. Along with this the organisation provide the fantastic networks to the appropriate
candidates, to get entered into the large corporates. The report is based on business functions of
Austin Fraser Limited and the measures which have been taken by the entity in the management and
business performance. Apart from this the impact of change on the business is also to be described
in the study.
TASK 1
1.1
Small business enterprises are the companies which initiate the business from a low level
and further they accomplish all the goals and objectives of the target industry (Bridge and O'Neill,
2012). Austin Fraser Limited is the entity which is operating its business in consultancy field. The
SWOT analysis of the entity is described as under:
 Strength: The strength of the organisation is its technical and specialised working staff. The
corporate is working for the other corporations to provide them appropriate candidates as
per the requirement of the profiles. Thus in this process its working staff is establishing
themselves as a benchmark, as the specialised workforce is liable to appoint the eligible and
qualifies applicants for the corporate industry.
 Weaknesses: The weakness of the entity is that companies use internal source of recruitment,
which restrict potentially better qualified candidates from outside of the company (Lee and
Gross, 2015). Thus it is the great issue which is the weaker point for the development of
Austin Fraser Limited.
 Opportunity: Austin Fraser Limited has the option to establish itself in the consultancy
industry as in today's era, all the organisation have desire to opt the most appropriate
candidates and this can only be done by the best consultancy firms. So the demand of the

recruitment agencies have increased in past few decades therefore it is the great opportunity
for Austin Fraser to capture the market.
 Threat: Competitors in the market are considered the big threats for the Austin Fraser
Limited. There are large number of consultancy firms which are operating business activities
in the same market (Down, 2010). Therefore it is the great hurdle for the entity to establish
in the market for a long run, if the company has to sustain for a longer period then it has to
consider all these competitors and by getting the proper knowledge of the market and its
rivalries the corporation can succeed in general.
Thus in above all the essential strengths and weaknesses of Austin Fraser Limited have been
discussed.
1.2
Many initiatives to improve the business processes are emerging. Therefore the role of
business Analyst and business performance management is increasing day by day. The comparative
analysis is risk adjusted measure in order to account for differences in relative risks between
facilities and jurisdictions (Moore, Grammich and Mele, 2014). For the measurement of business
performance of Austin Fraser Limited SMART approach can be utilized. SMART means specific,
measurable, achievable, relevant and time bound. It is good framework to test that the goals are well
formed by the company. But it is most certainly not a framework for making sure that the
performance measures of the entity have made properly. The first element of this approach is S it
means that Austin Fraser limited can assess its comparative measures by considering that the goals
which have been decided by the corporate should be specific. By doing a research on the objects of
the company Austin Fraser Limited can better perform the task and operations. The another element
is M it denotes that the company has to set the targets in such manner that it should be measured
and should be in the form in which the comparative analysis of the targets can be made.
A is the other major part for assessing the comparative performance of the Company. Austin
Fraser Limited can decide the targets in such way that they can be achieved easily, if the goals are
made in such form that they are not relevant approachable by the entity then the performance of the
corporation can not be good therefore the organisation can set the objectives so that they can be
approached. R denotes the relevancy of the set goals with the main object of the corporate (Acton,
2013). The entity can decide the targets which are relevant with its objectives and are not supposed
to be irrelevant. Thus for measuring the performance on the comparative basis it is essential for
Austin Fraser Limited to decide the goals as per the business profile of the entity. T is refereed for
time bound objectives, the company can set the targets in such manner that they can be approached

in a particular time duration so that their comparative analysis can be done by the time and
performance measures can be decided accordingly. Thus in above mentioned way the entity can
measure its performance and can do the comparative business analysis.
TASK 2
2.1
The major weakness of the entity is that there are various companies which are using
internal source for recruitment and this restricts the better candidates from outside of the
organisation (Rahman and Hakikur, 2011). Austin Fraser Limited can get rid of this hurdle by using
its potential staff to make corporates aware about the services of the entity. If the company explains
about the features of its recruited candidates then it can reduce the effect of its weaknesses. Some
organisations are using internal HR source for appointing the employees, but this can be proven
wrong as the people who are approaching the company can be disqualified also and it may be
happen that they are not having that kind of potential and expertise as the corporate is demanding.
So in this situation Austin Fraser Limited can make contacts with the other companies and can
explain the features of the candidates which are being provided by their staff members. By this
other entities can get to know about the policies and operations of Austin Fraser Limited and can
assign the work to the company.
The corporate can advertise about its services and this can lead the entity to make the more
contacts with the clients (Andersson and Tell, 2009). Personal interaction is a great part for making
companies aware about the services of the company. By providing the best candidates to large
organisations, Austin Fraser can create its bench mark and work on its weakness better.
2.2
Quality performance is the key to satisfying the clients. Customers are the all in all for the
development of the business. Currently the Austin Fraser Limited is providing the best services to
its clients. And it becomes necessary for the organisation to maintain this level and try to enhance it
in the near future. However the company may follow some ways which helps in maintaining and
strengthening the performance the company properly (Barbero, Casillas and Feldman, 2011). It is
important for the entity to always work for the client's satisfaction. In this the process Austin Fraser
Limited can do a survey to know about the services which are being provided by it. Along with this
the company can compare itself with the other organisations so that it can be known that what
strategies which are to be opt by them to run the business successfully. In this situation market
survey play an important role. Austin Fraser Limited is providing its services in recruitment and

consultancy sector. The organisation can avail the information about the candidates which have
been provided by it to the other corporates. And as per the feedback it can improve its strategies and
operations.
Thus a regular review of the performance of the entity can maintain its performance. The
company has a goal to establish in the market for long therefore it is very important for it to work
and provide the services with its best dignity. The staff members play a vital role in maintaining the
regular performance of the organisation (Davidsson, Steffens and Fitzsimmons, 2009). In today's
era there are so many companies which are trying to opt the best working staff and by approaching
their need the corporate can provide the best services. To sustain in long run it is essential to have
the patience, Austin Fraser Limited can make the strategies to select the most appropriate
candidates as per the requirements of the client. Thus by cooperation of the employees of the
organisation and opting the best suitable strategies to appoint the applicants can be helpful for the
company in maintaining the success of the entity.
2.3
For the further development of the business organisation it is important to expand the
business properly (Hamilton, 2012). By considering the competition level and other factors, Austin
Fraser Limited can expand its operational activities outside the national border. The organisation
can decide the areas in which it can initiate the new technologies and start the another venture. It is
essential for the company to know about the features and new trends of the market in which it can
operate its business. At present the company is providing consultancy services and it has a great
staff to work on these activities. Along with this the corporation can get enter into the field of
training classes in which it can provide the special guidance to those applicants who have the desire
to join the large corporates and this can be helpful for the candidates and the clients of the Austin
Fraser Limited. By getting entered in this section the company can increase its market share as it
can provide the services for both kind of sectors such as government and private. This will be
helpful for the entity to start the new business.
Thus by assessing the market the organisation can make a blue print of its new operational
sector and can determine the cost of the new segmentation (Hansen and Hamilton, 2011). Thus after
doing the proper analysis of cost and benefit measures the entity can start the new business in the
field of providing the training classes, by this the organisation can enhance its profits and good will
also. By using the internet it can advertise about its new business area and this can lead more people
to join the company. If the entity works properly in this segment then more clients will approach the
corporation, this will directly affect the growth and success of the organisation. Thus in the above
mentioned way it has been described that Austin Fraser Limited can start the new set up and this

will increase its profits and growth.
TASK 3
3.1
Austin Fraser Limited is a UK based Company and is operating its business services in
consultancy field. Apart from this the entity has a wide network and professionally developed
working staff. The main motive of the organisation is to lead the market by providing the best
services to its valuable clients (Kirkwood, 2009). To establish their objectives the company has
developed different plans and tries to implement it. For developing its purpose the entity make an
effort to charge a reasonable price from its clients. It is very important for the company to assess the
objectives and planning procedures for achieving the goal. The company can do a regular check up
of its activities. Business assessment uses interviews with business owners and key staff, plus
financial document reviews to crystallize the current situation and future growth objectives. The
points which can be determined by the entity in assessing its planning and objectives are mentioned
as under:
 The first step is that the Austin Fraser Limited can take in note that what are the
expenditures and costs of the company and can compare these measure with the past data so
that it can be known that where the changes are required.
 The another element for assessment of objectives is that the entity can review the methods
which are being used to recruit the good people, in this term it can be analysed that whether
it is taking a lot time by the company to recruit the right person (Levie and Lichtenstein,
2010).
 The next element is to review the performance of the internal system of the company, and it
is to be checked that whether the system is resisting the organisation to quickly responding
the opportunities or not.
 The another step is to review that the company is achieving the goals which have been set
by it or not through its business plans (Littunen and Niittykangas, 2010).
 And the last element which is required to do the assessment of objectives is that the entity
has to ensure whether it is operating its all business activities through a set business plan or
not.
Thus in above mentioned way a proper assessment of objectives and business plan can be
done.

3.2
Developing a business plan is very important for the success of the company (Mazzarol,
Reboud and Soutar, 2009). In this changing world the economy is changing very disastrously and to
make a balance with it, is essential for Austin Fraser Limited. To adapt these changes it is helpful to
develop the flexible business plans. The entity can operate its services by making the alterations in
its business strategies. To incorporate the changes in business is an essential element of the
organisation. Changes are usual thing but to overcome those alterations is very important task for
the company. To remove the changes it is advisable to find out the differences between pre-decided
goals and the actual achieved targets. By this the entity can get to know more about those areas
where the modifications are required.
By assessing the fields where the entity has to make alterations, it can grow in a more
convenient way. Thus for the growth and success of the organisation it is good to adopt the
alterations in the set business plan. The company can incorporate the modifications in its business
plan by doing a proper analysis of below mentioned aspects:
 Executive Summary: in this element Austin Fraser has to focus on its mission, long range
vision, management and core values of the company (Steffens, Davidsson and Fitzsimmons,
2009). In it the organisation is to include industrial, commercial, trade and advocacy groups
in its market area. And the changes which are required as per the particular group of clients
can be adapted.
 Objectives: In this element the company has to make a proper concentration on its motive
and set goals so that a proper overview of the required changes can be identified and
approached.
 Present situation: For incorporation of the changes it is essential for Austin Fraser Limited
to assess the present situation properly and than compare the situation with the past
situation, by this the modifications which are required can be known and the appropriate
measures can be taken accordingly (Cooper and Burke, 2011).
 Market Analysis: It is the another major part which play a vital role in assessing the changes.
Austin Fraser Limited can do a market research and by this the areas where the performance
of the entity is lacking can be known.
Thus in above mentioned way the company can identify those areas where the changes are
required, and it will be helpful in incorporating the required alterations in business plan.
3.3
In the below mentioned way the procedure to implement the changes is described:

 Raising Awareness: The effective implementation of the alteration in business largely
depends on awareness raising among the key stakeholders of knowledge institution (Bridge
and O'Neill, 2012). All these people need to be aware of the energy goals and act
responsibly towards this end. Austin Fraser Limited can create awareness by distributing
information materials, providing basic information about daily work plan, and assess the
sources which have to be use in implementing the day schedules and modifications.
 Training: It is the another significant aspect of implementing the changes. Through training,
staff and stakeholders of the organisation can take the decisions accordingly and in
appropriate manner. Thus by providing the training changes in the company can be adopted
easily. Training can be provided on the basis of collection of data, recording, evaluating and
monitoring in order to support implementation plan.
 Monitoring and Reporting: A tracking system means by which an implementation
programme can be monitored. The system should be comprehensive and available for all to
use for measuring progress towards established targets (Lee and Gross, 2015). Maintaining a
tracking system enables the assessment of necessary steps, corrective actions and
identifications of success. This can be done by performing regular updates and by
conducting periodic reviews. A system is only effective if the information it contains is up to
date and comprehensive. Periodic reviews of the progress in meeting interim goals and
milestones should be conducted with the management team. Thus Austin Fraser Limited can
implement the changes by monitoring and reporting them on time.
Thus it is described that the implementation plan of changes in the company can be adopted
in the above mentioned way.
TASK 4
4.1
For the development of Austin Fraser Limited it is very important to consider and each and
every factor very carefully (Rahman and Hakikur, 2011). Proper consideration helps Austin Fraser
Limited in achieving the objectives of the business. As the time changes the overall business
conditions also changes with its personnel. Thus it is very important to cope up with the frequently
altering business conditions of the corporation. However the impact of the proposed changes on the
business and on personnel are stated below:
 The clients of Austin Fraser Limited will be more advantageous if the changes have been
adopted by the corporation. Because by this they can avail the updated information and

appropriate candidates ads per they desired profile.
 By operating the recruitment and consultancy services properly the company can provide the
best services with its optimum potential.
 The expansion of the business outside the national territory can give the opportunities also
enhance the jobs and responsibilities of the personnel of the company (Davidsson, Steffens
and Fitzsimmons, 2009).
 Caring attitudes of the staff members is very important to gain customer satisfaction.
 Employees are considered as the key factors for the business and therefore they play a vital
role in managing the operational activities, if they work with a care then the clients will be
satisfied in a more effective way and this can lead to the success of the organisation.
Thus the changes can be advantageous for the company and its staff members along with
this it is beneficial for the clients of Austin Fraser Limited also. The management of the entity is
liable to implement the change in the organisation and they have to consider the point that these
modifications are not effecting the interest of any stakeholder.
4.2
A constant change is a business reality and organisations must continually adapt to their
environments competitive or risk becoming obsolete. That is why the ability to manage the change
into Austin Fraser Limited is much important. The methods which are important to manage the
change are mentioned as under:
 Accept change: In this technology driven global economy, it is important to accept the
inevitability of change and communicate this to employees (Kirkwood, 2009).. Austin Fraser
Limited can serve their workers best when they acknowledge change is constant but
manageable. Thus working members are the most liable persons who are supposed to
implement and manage the alterations in the business organisations.
 Practice Openness: Austin Fraser Limited manage change most effectively when it has to
alter its impact upon staff. Thus the company can commit to fostering an environment of
openness. Along with this the entity can establish a culture of trust through open door
policies, tools allowing two way feedback and most importantly the willingness to listen non
defensively to all feedback even when critical. By adopting this approach the corporate can
implement the changes properly and in effective manner. This is the most convenient way to
manage the change in the company.
 Solicit Input: Employees do not oppose change, they resist the change which influence them

adversely. If Austin Fraser Limited can welcome their input, they will better appreciate and
accept the reasons for change (Hansen and Hamilton, 2011). The business of the entity just
may avail the benefits with the insight of the employees. After all they are on the first line
with the best grasp of clients need and preferences.
 Provide Training: Austin Fraser Limited can first assess knowledge of workers and skill
level to determine their readiness for change. In this process they should first receive
training to get better equipped to meet the demands of the new change or innovation.
Adapting and managing the change often requires mastery of new processes and skills.
 Accept and Recognize: It is inevitable that some failure can occur in managing the change
as management and employees work together for the implementation of change. Accepting
failure is an integral part of the learning process and sends a positive message to employees
(Andersson and Tell, 2009). If the company manage the change in an effective way then it
can better recognize the success. Staff members are aware of the fact that acknowledging the
change can be more stressful, requiring long hours and extra effort. Thus recognising the
alterations can motivate the workers to continue responding positively.
4.3
Continuous monitoring of the business activities help the company in improving its
performance level in order to gain client satisfaction. Improving the performance level is a long
term process (Moore, Grammich and Mele, 2014). Maintaining the consistency in this case becomes
the main issue. Most probably client satisfaction and trust can ensure the improved performance
level of the company. Austin Fraser Limited started its business from a small scale and today due to
hard work and best services of its employees it is at the top most list of Small Business Enterprises.
It is the sign of improved performance and growth of the business. However by researching or
surveying, the organisation can measure its performance level. Continuous monitoring of the market
condition can also be helpful for the company to identify the fraudulent activities.
Austin Fraser Limited can monitor the improvements in the performance of the business by
focusing on performance measurement. The key to achieving an effective programme requires a
conceptual sound business framework that links and integrates strategy, management process and
comprehensive metrics to an effective process for continuous improvements. By integrating the
elements from checklist, Austin Fraser limited can implement a performance programme that
focuses all levels of the company on mission, achievement and continuous improvements (Acton,
2013). The another aspect which is important to monitor the improvements is that the entity can
focus on the results of the company also so that it can be known that at what level the firm has

attained its objectives and what are the fields in which the modifications are required. The next
aspect is accountability in this term Austin Fraser Limited can develop the work culture of
accountability to monitor the performance of the employees. Thus in the above it has elaborated that
monitoring the improvements is an essential task for the entity by this the company can get the
ultimate goal.
CONCLUSION
In the above mentioned report it has been explained that small scale enterprises are the most
prominent part of the economy as they contribute a lot in increasing the revenue of the nation also.
Austin Fraser Limited is a small scale enterprise, which is operating its services in consultancy and
recruitment sector. The success of Austin Fraser Limited is based upon its management and working
staff. As the entity can achieve its set targets with the help of staff members. Along with this it has
also explained in the report that change should be adapted in the organisation this can lead the entity
in the path of the success. A regular follow up of the performance of the company is also an integral
part for the development of the corporate. By this the gaps between the actual and estimated
performance can be identified, and the improvement measures can be adopted accordingly. Thus the
report has concluded that making a appropriate business plan and regular monitoring is essential
part for the success of the business.
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Online
About Austin Fraser, 2016. [Online]. Availabile through:
<http://smallbusiness.chron.com/definition-smallscale-enterprise-17652.html>. [Accessed
on 20th September 2016].
About Austin Fraser, 2016. [Online]. Availabile through: <https://www.austinfraser.com/en/about-
us/>. [Accessed on 20th September 2016].