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Small business enterprise: strengths and weaknesses

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Added on  2020-09-03

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Business Skills INTRODUCTION 1 TASK 11 1.1 Small business enterprise, its business profile, strengths and weakness 1 1.2 Different comparative tools to determine business performance |2 TASK 25 2.1 Required actionsovercome current weaknesses of smallbusiness enterprise 5 2.2 Ways through which small business enterprise can make its business performance strong 6 2.3 Justification for new areas in which small business enterprise can be expanded 7 TASK 37 3.1 Appraisal of current objectives and plans of small business enterprise 7 3.2 Revision of current organisational plan so that

Small business enterprise: strengths and weaknesses

   Added on 2020-09-03

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Small business enterprise: strengths and weaknesses_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Small business enterprise, its business profile, strengths and weakness...............................11.2 Different comparative tools to determine business performance..........................................2TASK 2............................................................................................................................................52.1 Required actions overcome current weaknesses of small business enterprise.....................52.2 Ways through which small business enterprise can make its business performance strong.62.3 Justification for new areas in which small business enterprise can be expanded.................7TASK 3............................................................................................................................................73.1 Appraisal of current objectives and plans of small business enterprise................................73.2 Revision of current organisational plan so that company can incorporate appropriatechanges........................................................................................................................................83.3 New action plan to implement new modification within work place...................................9TASK 4............................................................................................................................................94.1 Influence of new proposed changes on small business enterprise and its personnel............94.2 Change management within work place.............................................................................104.3 Monitoring and controlling of improvements in performance of organisation over a giventimescale....................................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
Small business enterprise: strengths and weaknesses_2
INTRODUCTIONIn the modern world, various small business enterprises are establishing which help infulfilling needs and wants of local people. They are not highly successful as large organizationsare but still SMEs contribute a lot in national and economic development of country. It is highlyimportant for the owner of small companies to develop business skills in order to review andmanage their organisational performance. With the help of this, firm can focus on theirprocedures and change management. UK’s economy is very strong just because of its highlysuccessful small business enterprises (Zhao, 2012). This project report is focused on ''AustinFraser'' which is specialised in providing the consultancy services. This company is focusing onits business skills so that it can make appropriate changes for better growth and development. Inthis report, current performance of this enterprise has been evaluated by taking the help ofdifferent comparative measures. Some appropriate changes have been introduced which can helpthis firm in improving its work performance. New organizational plan has been prepared as wellto incorporate the new changes. At last, the impact of change management has been evaluated. TASK 11.1 Small business enterprise, its business profile, strengths and weaknessIn the present scenario, small business enterprises are contributing more in nationalgrowth as compared to large corporations. They generates various employment opportunities forunemployed people and also helps local people by satisfying their different needs and demands.In the United Kingdom, there are various SMEs which are continuously generating a hugeamount of profit. Mainly, they provide their products and services to local people and bigcompanies so that they can operate their business activities and practices in the most effectivemanner. Austin Fraser is one of the leading small business enterprises. It provides variousrecruitment and consultancy services to other corporations. There are various points which helpthis company in becoming successful and powerful. These are as follows:This company gives core attention to its customers that is why it provides them highquality services (Wan, 2011). Austin Fraser always try to focus on those tools and techniques which help it indeveloping its existing business performance. 1
Small business enterprise: strengths and weaknesses_3
This company has limited number of workers who cooperate with each other to operateorganisational activities in the most effective and systematic manner. This organisation conducts various market researches which help it in identifying theactual needs and wants of its customers. Hence, these are some most important points which make company more powerful andsuccessful. Apart from this, there are some other strengths and weaknesses of this organisationwhich are discussed as below: Strengths: It includes those positive characteristics which make Austin Fraser strong and theseare as follows: The biggest strength of this company is its great presence in UK market. It is highly known for its high quality products or services. Its knowledge management system is so effective which helps it in gathering accurateinformation about market place. It has a positive brand image in the United Kingdom which makes its recall is veryhigh. Weaknesses: It includes those characteristics which influence negative impact on the businessperformance of Austin Fraser and these are as follows: The biggest weakness of this company is its poor access to finance. In simple words, ithas to face various problems such as lack of innovation, less number of employees, etc.due to its poor financial conditions (Voogt and Roblin, 2012). In the present scenario, there are various new entities establishing which providerecruitment services on very low prices which put a negative impact on itsorganizational profit and future growth. 1.2 Different comparative tools to determine business performanceAustin Fraser is one of the leading staffing and recruiting firm of United Kingdom whichwhich is specialised in IT recruitment, Project management, engineering recruitment,consultancy, SAP, web developers, network security and some other fields. This company havestrength of approx around 45 employees. For generating better results, this enterprise needs toevaluate its organisational performance on regular basis. By doing this, it can determine that inwhich areas should its improve itself. There are various tools and techniques through which2
Small business enterprise: strengths and weaknesses_4

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