Business Management: Factors for Small Businesses, Customer Relationship Management, Transnational Development, Break-Even Analysis, Financial Statements, and Legislation

Business Management

Table of Contents
INTRODUCTION...........................................................................................................................1
Understanding the factors small businesses need to consider in order choose correct resources
in achieving their goals and objectives...................................................................................1
Discussing the term Customer relationship management......................................................2
Discussing the term Transnational Development and how a business can expand
internationally.........................................................................................................................4
Describe the term Break-Even Analysis also explain how it could be applied to a business 6
Describe the term financial Statements also explain how the statements can be used to
improve the running of business.............................................................................................7
Explain the term Legislation also discuss all the different legislations that affect small
businesses...............................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Business management refers to the effective management of organizational resource
along with efficient coordination of business activities. It is a continuous process which enable a
business to perform its operation at optimal levels in order to achieve their overall goals and
objectives. For the following report Davison Canners is taken into consideration. Davison
Canners are a fruit and vegetable preserving manufacturing company situated in Carigavon, UK.
The following report will consist of understanding the crucial factors small business need to
consider for achieve their goals and objective. In addition to this help in understanding customer
relationship management along with transnational development. Moreover, it will include break-
even analysis and its application within a business along with financial statement of the chosen
company. Furthermore, it will discuss the various types of legislations that affect a small
business.
Understanding the factors small businesses need to consider in order choose correct resources in
achieving their goals and objectives.
It is crucial for a small businesses to identify the various factors that can affect the
functioning of their business. It is important to manage these factors in an effective manner to
utilize business resources in an optimal manner to achieve goals and objective (AL-kuwair,
Alshammari and Idan ., 2020). The various factors small businesses need to consider are
mentioned below:
Human resources:
The quality and capacity of a work force are essential for a small business as it enables
them to perform their business operations in an effective manner. In context to Davison Canners,
the human resource factor plays a key role in ensuring that all their business department have
capable employee's who will assist their organization in effectively achieving its goals and
objectives.
Marketing:
The factor of marketing is vital for small businesses as it helps them to promote their
products and services to the customers in an effective way. In context to Davison Canners,
marketing plays a key role in efficiently promoting its products and services to their customers.
Moreover, it helps them to establish themselves in the competitive market.
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Technological changes:
This factor has is important for small businesses as changes in technology can provide a
business with the ability to improve the functioning of its business process and promote
efficiency. In context to Davison Canners, technology has a key role in its business operations as
it helps them to manufacture their products in an effective and cost-saving manner (Arroteia and
Bhatta ., 2018). Moreover, it enables them to develop products in an effectively.
Finance:
The financial factor for small businesses are crucial as they are limited and need to be
allocated in a proper manner to maximize its effectiveness. In context to Davison Canners, the
financial manager of the company ensures all financial resources are allocated and managed in
an effective manner. Moreover, the financial manager focuses on keeping the business running to
generate profitability.
Competitors:
This factor is important for small businesses as they need to identity their competitors in
the market in order to develop suitable strategies to stay competitive. In context to Davison
Canners, the management focus on analysing the overall market to determine their competitors
and determine how to allocating their vital resources in an effective manner to gain market
competitiveness. Moreover, it helps them to determine their current position in the market and
develop suitable strategies to increase their performance.
Discussing the term Customer relationship management
The customer relationship management helps a business to gain vital information relative
to the behaviour of its customers. This enables them to alter their organizational operations to
provide customers with desired products and services. Moreover, it helps a to promote growth in
its customer base by enhancing connection between a business and its customers. The customer
relationship management consist of 4 aspects which are elaborated below with there respective
advantage and disadvantages.
Operations:
This aspect of customer relationship management focuses on automation and
management of customers-facing operations such as sales, customer service and marketing. In
context to Davison Canners, it provides assistance to the sales and customer service department
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