Small Business and Entrepreneurship

This assignment delves into the world of small businesses and entrepreneurship. It examines various aspects, including barriers to electronic commerce adoption, the role of public procurement in supporting small businesses, and the impact of new technologies on firm formation. The text analyzes scholarly articles that shed light on factors contributing to entrepreneurial success and challenges faced by small firms in the dynamic business environment.

Small Business Enterprise

Table of Contents
TASK 1......................................................................................................................................................4
1.1 Company’s profile..............................................................................................................................4
1.2 Comparison of current financial performance to last year’s including different sectors’
interrelationship.......................................................................................................................................5
TASK 2.......................................................................................................................................................6
2.1 Appropriate actions to overcome weaknesses....................................................................................6
2.2 Methods in which existence performance can be maintained and strengthened.................................7
2.3 New areas in which Hungry house can expand its business...............................................................9
TASK 3.....................................................................................................................................................10
3.1 Business objectives and plans..........................................................................................................10
3.2 Evaluation of business plans and suggestion of area where changes can be implemented...............13
3.3 Preparation of action plan................................................................................................................14
Task 4........................................................................................................................................................16
4.1Impact of business and its personnel due to changes occurs at Hungry house..................................16
4.2 Planning to manage changes in business.........................................................................................16
4.3 Improvements in performance in comparison to past two years’ performances...............................17
CONCLUSION.........................................................................................................................................18
REFERENCE............................................................................................................................................20

INTRODUCTION
Small and medium businesses are those entities whose number of personnal is below
fixed limited. These organizations earn profit at low level as well have limited branches to
operate business activities. The present report is based on case study of Hungryhouse. It is small
business enterprise of Dragons’ Den focuses to increase its working efficiency and improvement
in organization’s performance. Therefore, structure of small business enterprise including
background and various sectors’ functions can be determined here. Moreover, the study is able to
present several tools and techniques to implement action plans to achieve industry’s
effectiveness. In addition to this, evaluation of performance related to firm can be recognized
here. Hence, through this report several aspects are to be analyzed for implementing small
enterprises.
TASK 1
1.1 Company’s profile
Business organization’s proper structural framework can be understood as follows:-
Name:- Hungry house
Owner structure:- Small business enterprise, who works at low level. There are limited
number of employees perform at workplace. Moreover, financial structure of company is
not well to adopt technologies for entity’s expansion and qualitative services (Blackburn,
Hart and Wainwright, 2013).
Background:- Hungry house is one of the Dragons’ Den organizations’ of London, UK
which performs small level business activities. It aims to improve working efficiency of
company and expand its industry through operating new branches in other cities of UK
(Freel, 2013). In order to this, entity makes plans for fund allocation related to financial
management for qualitative services of SME.
Activity:- Dragons’ Den’s Hungry house is a food industry, which takes order for food
services. In addition to this, company’s business activity includes products’ delivery

through online marketing. In this regard, organization provides restaurant facilities for
serving food (Goss, 2015).
Business location:- Hungry house is located in London, UK.
Strength and weakness:- Company’s strength and weaknesses can be obtained as
below:-
Strength:- Positive factors of Hungry house includes effective customer focused,
applying innovative ideas for increasing working efficiency and flexibility to get adjusted
according to changes occurs at workplace. In this regard, strength of small enterprise are
determined as effective tools to set objectives for developing business activities of
organization to improve food services (Eid and El-Gohary, 2013).
Weaknesses:- Hungry house is small enterprise of UK has weaknesses of poor working
efficiency for food services. Including this, it is determined that organization has lack of
funds as there are effectiveness in fund allocation is obtained. It impacts on
environmental factors of SME for entity’s development. Moreover, due to efficiency of
finance it remains difficult to reach out resources for proper production and distribution
system (Feussner, Landefeld and Weinberger, 2016).
1.2 Comparison of current financial performance to last year’s including different sectors’
interrelationship
Economic structure of Hungry house is compared to past year’s performance. It is
determined that organization’s effectiveness is impacted through recognizing financial and
other sectors’ performances. This other effected sector involves production, marketing, HR
and research departments of entity (Smither, Houston and McIntire, 2016). In this regard,
differences between Hungry house and Richard Earnest business performances in financial
including other sectors can be expressed as:-
Financial performance:- It is comprised that economic profile of Richard Earnest is higher
than Hungry house. In accordance to this, there is lack of finance which impacts on Hungry
house’s organizational structure. It remains unable to increase qualitative services of entity.
While, on the other side, Richard Earnest’s economic profile is effective in presentation of

business activities (Bayrak, Güler and Pınar, 2016). Therefore, monetary structure of both
entities impact of productivity and profitability of firms to run entities.
Production and operational factors:- Financial performance of organization effects on
supplement of food provided by entity. In comparison to Richard Earnest, production and
distribution system of Hungry house is more effective. It is due to optimum utilization of
resources. Thus, there are innovative ideas applied for distributing services (Chan and Park,
2015).
Marketing department:- It involves activity of earning profit with customer satisfaction.
Therefore, Hungry house has effective consumer focused strategy on behalf of which it takes
decisions for further business activities. In comparison to Hungry house, marketing
department of Richard Earnest is less attractive. Therefore, transaction of goods and services
are impacted through financial and other departments of Dragons’ Den organization
(Singaram, Kraaijenbrink, and Mols, 2016).
HR department:- It includes overall services of business with focuses on employees’
performance. In accordance to this, entire departments of organization effected (Halpin and
Biggs, 2014). Thus, Richard Earnest and Hungry house’s business performances are
recognized by analyzing entire performances.
Hence, finance department of Hungry house is determined by comparing its performance
with Richard Earnest’s business structure. It presents framework related to strength,
weakness and techniques to run entity through recognizing environmental factors of entity. It
leads to prepare budget and preparing strategies for business. Thus, different departments’
performances are comprised to each other which are interrelated. These are helpful tools for
planning and decision making process to run entities effectively (Cavico and et.al., 2014).
TASK 2
2.1 Appropriate actions to overcome weaknesses
Hungry house has various limitations such as poor food qualities, less number of branches to
expand business. It is because of inefficient fund. Therefore, these weaknesses can be recovered
by following strategies;-

Problem solving strategy:- It is related to action planning for solving out problems occurs at
workplace. In this regard, manager of Hungry house requires preparing strategy for determining
solutions to overcome the situations. For example, if there are technological issues arises then
adoption of new techniques and collection of funds remains appropriate strategy for organization
(Blackburn, Hart and Wainwright, 2013). Thus, implementation of action planning to solve out
problem can recover weakness of small level enterprise.
Fund allocation strategy:- Lack of money can be determined through adequate fund allocation.
Through this strategy, sources and investments for effective supplement of goods can be
obtained. Regarding this, proper financial management is presented to manage fund for
qualitative services of SME. It is useful action to increase productivity and profitability of
industry (Wellin, 2016).
Action oriented strategy:- It is essential for Hungry house to strongly focus on set objectives for
improvement in business performance. Hence, effective development of organization is possible
through developing strategies. It is valuable to generate ideas for further business activities to
operate small enterprise in growing manner.
Finding solutions and alternatives:- Development of small business entity Hungry house is
possible through determining solutions and looking for alternatives to solve out the issues. In
order to this, effective performance and qualitative food services can be achieved. It will impact
on productivity and profit earning capacity of firm (Nieto, Hernández and Muñoz, 2014). Thus,
improvement in service qualities of enterprise can be achieved through this tool.
Adopting innovative methods to improve qualitative services:- Hungry house can get effective
business activities by accepting technological changes. Therefore, increasing in demand for food
services will be achieved at high level. It is vital tool to aware society for taking advantage of
goods and services effectively (Tsai and Yang, 2014).
2.2 Methods in which existence performance can be maintained and strengthened
Existence of Hungry house and its performance is possible to maintain through different
approaches. For instance, maintaining business records focuses on proper market demand,
providing qualitative food services and using attractive tools etc. These tools and techniques can
be understood in brief as follows:-

Maintaining performance records:- It is effective technique to maintain Hungry house’s
position in market. Moreover, by analyzing past performances of business manager is able to
makes plan for implementing further activities (Yu and et.al., 2014). In this regard, proper ideas
are generated to prepare strategic plans to face competition. It is usable to improve quality and
performance of organization to gain its effectiveness.
Focusing on proper market structure:- Hungry house can maintain and strength its effective
position in market. In order to this, concentrating customer demand and requirements is able to
improve business profile. Hence, small enterprise can make place in market through facing
competitive strategy. It is valuable to create effective market position of food services (Halpin
and Biggs, 2014).
Building on business strength:- It is effective tool to increase strength for facing competition
and making place in market. Therefore, good performance of Hungry house can be obtained
through building team to improve food services. It can be determined that business strength can
be increased by improving food services (Blackburn, Hart and Wainwright, 2013).
Tools for increasing advertising techniques:- It is vital technique to attract people by using
advertising tools. Thus, awareness of society and increasing quality services of food can be
achieved by developing creativity for business operations. In accordance to this, promotional
techniques are implemented for strategic plans.
Establishing public relations:- Effective public relation with customer including supplier,
advertiser is valuable to gain long term sustainability of product value. Moreover, it is vital for
Hungry house to maintain and strength its good reputation in market (Chan and Park, 2015). It is
also great tool to increase value for facing competition as well improvement in business
performance.
However, above mentioned techniques are useful to maintain and increase reputation of Hungry
house in market for effective food services. It is useful to create healthy and positive
environment of organization to maintain customers’ attraction for product services. Thus,
company can manage entire business activities through these tools for its effective expansion
through proper financial management (Goss, 2015).

2.3 New areas in which Hungry house can expand its business
Expansion of business organization can be obtained through effective techniques to implement
action plans. In this regard, Hungry house needed to apply various tools for instance, proper
market research, risk assessments, preparing action oriented strategies and evaluation of business
activities including grab opportunities for business expansion (Ackermann and et.al., 2013). Thus,
enlargement of industry can be achieved by applying following methods:-
Proper analyses of market research:- On behalf of marketing determinants, Hungry house can
gain ideas for operating new branches in other countries. It includes factors related to recognition
of product value and demand for services. Regarding this, techniques to be used for development
as well strategic plans are determined (Singaram, Kraaijenbrink and Mols, 2016). Hence,
effective market research and getting customer feedback is valuable to fulfill requirements of
consumers and expansion of business entity.
Risk assessment:- Under this system, evaluation and management of risk is created. Therefore,
critical recognition including finding out causes and their solutions are emerged. It is helpful to
manage any kind of issue occurs at workplace (Chan and Park, 2015). However, it considers
gaining organizational structural framework for implementing action strategies. Regarding this,
development and solution of problems are arises to enlarge entity at high level.
Grab opportunities for business expansion:- Hungry house can develop productivity of food
services by taking advantages of opportunity to expand business at large scale. Thus, increasing
service qualities can be obtained for effective reputation in market. Similarly, opportunities are
valuable to increase performance of business effectively (Wellin, 2016). In addition to this, entire
departments’ growth and interrelationship among all sectors can be analyzed. It is useful
technique to gain creativity in qualitative food services. Moreover, opportunity for export and
import of goods are also useful for implementation of entity. It is favorable technique for Hungry
house to spread organization at large scale. However, effective public relation can be achieved
through this technique influences sustainability of small enterprise for long time period.

Preparing action oriented strategy:- Effective market structure leads to make plan for action
towards set goals. Thus, it is required for Hungry house to makes decision regarding adjustments
for implementing changes. In accordance to this, strategic plans are made for company’s
effective profile. Further, this strategy is helpful to improve performance of business activities.
Apart from this, expansion and increasing in demand for food services will be effected at high
level. It is useful to create positive atmosphere of small business (Eid and El, 2013).
Evaluation of business activities:- It includes transaction of goods and services and other
business activities to for competitive strategies. In this regard, critical analyses of market
position are determined to implement action plans. It generates proper idea for action towards
creating balance between demand and supply of products. It involves control over excess and
deficit of goods which influences optimum utilization of resources. Hence, business activities
evaluation is valuable to create organizational structure as well liable to increase profit earning
capacity of SME (Goss, 2015). Along with increases strength for competitive strategy as well
able to expand business organization at large scale. It is valuable to improve business
performance in entire sectors of Hungry house effectively. Thus, entity can implement business
entity by operating new branches as well increasing in productivity and profitability of industry.
Establishing relations with customers:- Hungry house can enlarge its business entity through
making good relations with consumers including agents, wholesalers and different business
organizations. In this regard, qualitative food services and efficiency in working performance can
be achieved. In accordance to this, small level enterprise can increase efficiency of food services
(Halpin and Bigger, 2014). Moreover, organization requires producing and supplementing
qualitative services to attract public at high level for satisfaction and effective entity’s services.
TASK 3
3.1 Business objectives and plans
Hungry house sets target to improve business performance and increasing in productivity as well
profitability of small enterprise. It includes organizational structure to present transaction of food
and qualitative services. Organization sets following objectives to improve efficiency of entity
as:-

To improve business performances
To increase quality services of food.
To sets time frame for strategic plans
To implement strategies for organization’s effectiveness.
To adopt techniques to attract customers at high level.
To expand business entities through operating new branches at large scale
To prepare strategy for facing competition
To make effective place in competitive market
To analyze market research and takes decisions to get customer satisfaction.
To critically recognize current business profile for effective further transaction of goods
To create healthy and positive environment of entity.
Above mentioned objectives are determined to develop small business enterprise. Regarding this,
manager of Hungry house prepare business plan for production and distribution of food.
Business plan:- Development of small business enterprise can be obtained through following
business plan:-
Plan Activity
Financial plan Effective fund allocation

Financial management
Price determination of food services
Prepare budget for economic structure.
Utilization of resources Prepare strategy for adequate utilization of
resources
Action plans to create balance between
production and supplement of food.
Recognizing market research
Identify proper customer demand
Marketing plan Increasing profit earning capacity at maximum
level.
Gain customer satisfaction at high level
Getting feedback from market to analyze
attitude and perception towards goods and
services.
Evaluating market position of products.

Human Resource planning It is related to personnel performances at
workplace, therefore improvement in workers’
efficiency can be determined.
Providing training and development facilities
to encourage workers for qualitative services of
Hungry house.
Research and development planning Analyzing proper marketing structure
including product value and demand
Implementing action plans for developing
business activities.
Hence, manager of Hungry house makes business plan related to overall activities influences
productivity and profitability of small business enterprise. It is related to entire entity’s
performance. In addition to this, key elements of business are creditors, debtors, agents and
wholesalers. Therefore, organization focuses to establish good relationship with collaborative. It
influences long term sustainability of small business entity effectively. Thus, business plan leads
to implement action and evaluations presents structure of organization systematically (Smither,
Houston and McIntire, 2016). However, business plan includes forecasting and decision making
process able to create efficiency in organization’s effectiveness. It influences market atmosphere
of small business enterprise to be developed.

3.2 Evaluation of business plans and suggestion of area where changes can be implemented
Manager of Hungry house recognizes business plans related to entire services. In this regard,
analyses is done by focusing on different sectors’ performances. It includes financial position,
relationship with customers and collaborative, transaction of food services. In accordance to this,
business plan and its implementation is observed (Blackburn, Hart and Wainwright, 2013).
Moreover, comparison is determined between current and expected business entities’
performances. It is determined that company faces problem during allocation of fund. Therefore,
lack of finance is obtained on which it has to concentrate for effective business activities.
Regarding this, production and distribution of Hungry house’s products get impacted. It
influences environment and market position of food effectively. Apart from this, organization
faces issue of operating new branches in other countries due to lack of stores and inefficient
fund. Hence, it is necessary for entity to improve profitability and effective business operations
through proper financial management and creating balance between demand and supply of food
services. It influences qualitative services of business organization to implement strategies for
development of organization (Carraher and Paridon, 2015).
Thus, Hungry house required to increase its performance in production and profit earning
capacity. It is required for entity to implement action plans to create proper effectiveness at
workplace. It includes other organizational structure tools as production and distribution system,
improving profit earning capacity of the firm. Thus, small enterprise requires to develop strategy
for implementing working efficiency as well helpful to increase qualitative services of food.

3.3 Preparation of action plan
Manager of Hungry house prepares business plans that leads to focusing on implementation and
evaluation of organization’s business activity (Ritchie, 2015). Thus, weaknesses occurs in
organization are related inefficient finance, lack of resources, narrow business market etc.
Therefore, action plans are prepared to overcome the issues. It includes following tools:-
Organization plans to implement action for effective business services. It influences system to
manage demand and supply of food delivery involving changes occurs at workplace to make
effective position in market.
Plans to implement:- Marketing essential tool as promotion is bale to make plans related to
advertisement and development of food services (Chitura, Mupemhi and Bolongkikit, 2015). It
includes various plans and implementing action strategy for effectiveness of entity in market.
Thus, Hungry house requires to make plans for its implementation through different tools and
effectiveness of company at high level.
System to manage:- It involves management of goods and services can be achieved through
various tools. Moreover, it is useful for organization’s growth. Regarding this, effective balance
is created between production and supplement of material is produces. In this regard,
management of business activities is determined which influences effective utilization of
services.
Monitor and evaluation of changes occurs at organization:- through this system, recognition
and controlling over excess and deficit of food services are to be analyzed. Therefore, this action
plan is useful to increase profitability as well business activities can be achieved. Moreover, it is
useful technique to increase profitability and productivity of firm (Ackermann and et.al., 2013).

Thus, Hungry house can improve its efficiency through effective action plans to be followed. In
this process, it is needed for entity to improve its qualitative services at high level.
Task 4
4.1Impact of business and its personnel due to changes occurs at Hungry house
Action plans are implemented to manage changes occurs at organization. It impacts on business
activities including transaction of services to qualitative facilities produces by enterprise. Thus,
changes in organization effects on business environment, employees’ performances and system
for implementing strategies as well reduction of wastage materials. Thus, changes occurs in
business activities effects on its market position including other tools to present value of food
services in market. However, it generates idea for implementing services. Therefore, change s in
organization’s structure impacts on fund allocation and economic structural framework. In this
regard, various tools and techniques are applied for strategic planning (Gibson, 2016). Moreover,
performance of employees get impacted due to changes in technologies. They have to get
adjusted according to changes as well their performance effects on organization’s effectiveness.
Thus, changes occurs at workplace impacts Hungry house performance as well personnel
contribution in efficiency of service quality of small business enterprise. In addition to this,
performance of service quality for organization’s effectiveness effects on business activities.
Similarly, it generates different ideas for implementing strategies to improve performance of
small business enterprises.

4.2 Planning to manage changes in business
Changes occurs at organization impacts on entity performance and its service qualities.
Therefore, some changes can be managed by following methods to improve efficiency and
effectiveness of Hungry house. Some plans can be implemented for organization’s effectiveness.
Planning tools are implemented to increase quality services (Loader, 2013). Regarding this,
changes occurs at entity including imbalanced production and distribution system, inefficient
fund and improper structure for enterprise services. Following plans can be implemented for
effective services.-
Adequate fund allocation:- It includes sources and investments of finance regarding business
operations. In this system, sufficient money is able to activate transact food services effectively.
Thus, proper fund is essential to improve quality of business activities (Groen, Cook and Van,
2015). It influences business operations as well effectiveness of Houngry house.
Reduction of wastage resources:- Optimum utilization of resources based on proper strategy is
effective to reduce waste materials. Regarding this, proper use of raw material and products
used in work in process can be managed efficiently. It is helpful to increase productivity and
profitability of small business enterprise (Wu, Chen and Olson, 2014). Therefore, systematic
business activities are implemented to get effectiveness at workplace.
Improve employees’ performances:- Qualitative services of Houngry house can be determined
by improving working efficiency of workers. It includes various factors such as providing
training and development facilities to them (Kabanda and Brown, 2016). It is helpful to increase
public relations and attractive tools to implement strategies for business operations.

4.3 Improvements in performance in comparison to past two years’ performances
Performance of Hungry house is implemented in comparison to past years’ performances
(Hungryhouse, 2016). It improves financial position and effectiveness of organization is
determined. Moreover, effective relationship is established with other business entities of
different countries. Regarding this, working performance and qualities are developed at high
level. In comparison from last two years, in 2015, organization’s profit is 15 million which
increases to 18 million in 2016. Therefore, it is considered that profit earning capacity is
increased. It influences entity’s performance and other sectors of small enterprise. Regarding
this, development in effective business economic structure is presented. However, it is
considered that small level enterprises can increase their earning capacity by applying strategic
plans as well positive environment of organization is determined. Apart from this, from last two
years, entity has adopted technologies therefore qualitative services are determined also attracts
customers at large scale. In this way, financial management and fund allocation is presented
effectively. It is useful to establish effective public relations. It influences productivity and
profitability of organization. Thus, adequate strategies remains valuable to increase working
efficiency of small business enterprise at large scale. Therefore, proper business activities are
implemented in highly effective manner. It creates positive position of entity in market to face
competition (Hall and Kristy, 2013). Similarly, it can be forecasted that Hungry house can gain
more profit and productivity of organization to make effective position in market by facing
competitive strategies. Moreover, it increases strength of business entity to sustain its valuable
position in market. As equivalent, it is considered that small business organization has increased
its business performance in comparison to last two years’ performances. Therefore, effectiveness
of organization is gained influences operations of business activities in highly efficient manner.

It is useful for developing small scale enterprises remains able to increase its efficiency for
further activities through implementing strategies.
CONCLUSION
The present report is concluded that small level enterprise can expand business through effective
fund allocation and improving service qualities of organization. There is deep knowledge has
been understood regarding small level businesses and its activities. Moreover, various aspects are
determined to develop working efficiency of entity at high level. In addition to this, financial
performance and other factors of business that influences environment of entity are determined.
Similarly, ways to overcome weaknesses of small medium enterprise as Hungry house of
Dragons’ Den is recognized. In addition to this, business objectiveness and plans including
implementation of strategies for business enterprises’ performance is analyzed to develop
efficiency of small level enterprises. However, increasing in performance and other areas are
considered through this study. It provides several tools and techniques to implement strategic
plans for proper management of production and distribution which influences to gain financial
management as well efficient fund allocation strategies are obtained.

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Online

Hungryhouse. 2016. [Online]. Available through:
<http://whois.domaintools.com/houngryhouse.com>. [Accessed on 6th February 2017].