Small Business Enterprise Report - Cambridge satchel company

Added on - 15 Jan 2020

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Small Business Enterprise
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Produce a profile of selected small business and identifying its strength and weaknesses. .31.2 An analysis of the business using comparative measures of performance...........................4TASK 2............................................................................................................................................52.1 Appropriate actions to overcome the identified weaknesses in the business........................52.2 Ways in which existing performance could be maintained and strengthened in business....62.3 Recommendation for the new areas in which business could be expanded..........................7TASK 3............................................................................................................................................73.1 Produce an assessment for existing business plan and objectives........................................73.2 Revise business plan to incorporate business changes..........................................................83.3 Prepare an action plan to implement the changes.................................................................9TASK 4..........................................................................................................................................104.1 Report on the impact of the proposed changes on the business and its personnel..............104.2 Plan how the changes will be managed in the business......................................................114.3 Monitor improvements in the performance of the business on given timescale.................11CONCLUSION..............................................................................................................................13
INTRODUCTIONSmall size business may be defined as a business in which there were less than 250employees. These are privately owned firm, partnership business and sole proprietorships. Thisbusiness earns less revenue. All the small business enterprises are important because iteffectively impacts on economy of the country. So in order to uplift the economy of the countryit is essential to expand the small business. This report is based on the Cambridge satchelcompany. It is a British company that produces the satchel and other kinds of the leather goods.It is made to investigate the performance of company business. In second part of report, anattempt is made to propose changes in improving management of the company. In the third partof report, a plan is made to make changes in the business according to their objectives. In the lastpart of report, an attempt is made to understand the impact of the change management.TASK 11.1 Produce a profile of selected small business and identifying its strength and weaknessesCambridge Satchel Company is basically a British company and it is founded in 2008. Itheadquarters is situated at Babranham UK. It is founded by Julie Deane and her Freda Thomas.They produce classy fancy bags of the leather. Further, the firm focus on those customers whichis going to the college, office and schools. The main mission of the organization is to providegood quality and affordable leather products to the consumer. The company’s vision is “ to bethe most preferred company selling the leather products in the Uk” (Cassar, G., Ittner, C. D. andCavalluzzo, 2015). The company has started their journey of business by $600 (Carter and Jones-Evans, 2006). But now the organization in 120 countries has sold their accessories. They haveopened their first physical store in 2013 but at 2015 they have 4 physical stores. Until 2015, theyonly emphasized on women but now they have changed their target market from women to men.Today this company is successful in the competitive world because of their variouscommitments. However, the company is having some strength and weakness and these are asfollows:Strength:1.The first strength of the company is commitment which they make in their work.2.Company product is unique.3.Strength of the organization is their products which are hand stitched.
4.They have highly competent employees and online markets to sell their product.5.Their pricing strategy is very low.6.They have high quality products and deliver their products to the customers at right time.Weaknesses:The first weakness of the company is that they have reached less number of thecustomers.They have lack of market survey (Chell, 2007).The organization has less number of employees. They have only 84 workers in theircompany.If they make any changes in their product then they can lose their market share.Company is having a rise in the fake founders.1.2 An analysis of the business using comparative measures of performanceCambridge Satchel company is British company which make the leather handmade bagsfor their customers. They have provided a very good quality bags to their customers atreasonable price. They have made those bags which matches all the outfits. There are lot ofstandards which measures the performance of the company.1.Quality:The main attraction of the customers towards the company is the quality whichthey provide to their customers. Their bag quality is good in comparison to theircustomers.2.Price:Prices of their bags is low in comparison to other companies because the mainmission of the firm is to provide affordable bags to the customers (Ebert and et.al. 2014).3.Design:Another measure of performance is the design. The company’s bags design isunique and classy. They design the bags in such a way which is adaptable to all theoutfits of the customers. . Their bags are available in all the colours and large number ofthe designs.4.Payment procedure:The payment procedure of the company is also good which helpsthem in increasing their performance in the market. They accept the payments from theircustomers after they deliver the products.5.Customer satisfaction:Customer satisfaction of the company is high because the firmprovides them affordable products at very cheap rate. All the bags provided in the marketare hand- stitched this is the reason that their customer satisfaction is very high.
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