Case Study Small Business Enterprise | Hungryhouse
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Added on 2020-01-07
Case Study Small Business Enterprise | Hungryhouse
Added on 2020-01-07
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Small Business Enterprise
Table of ContentsTASK 1......................................................................................................................................................41.1 Company’s profile..............................................................................................................................41.2 Comparison of current financial performance to last year’s including different sectors’ interrelationship.......................................................................................................................................5TASK 2.......................................................................................................................................................62.1 Appropriate actions to overcome weaknesses....................................................................................62.2 Methods in which existence performance can be maintained and strengthened.................................72.3 New areas in which Hungry house can expand its business...............................................................9TASK 3.....................................................................................................................................................103.1 Business objectives and plans..........................................................................................................103.2 Evaluation of business plans and suggestion of area where changes can be implemented...............133.3 Preparation of action plan................................................................................................................14Task 4........................................................................................................................................................164.1Impact of business and its personnel due to changes occurs at Hungry house..................................164.2 Planning to manage changes in business.........................................................................................164.3 Improvements in performance in comparison to past two years’ performances...............................17CONCLUSION.........................................................................................................................................18REFERENCE............................................................................................................................................20
INTRODUCTIONSmall and medium businesses are those entities whose number of personnal is belowfixed limited. These organizations earn profit at low level as well have limited branches tooperate business activities. The present report is based on case study of Hungryhouse. It is smallbusiness enterprise of Dragons’ Den focuses to increase its working efficiency and improvementin organization’s performance. Therefore, structure of small business enterprise includingbackground and various sectors’ functions can be determined here. Moreover, the study is able topresent several tools and techniques to implement action plans to achieve industry’seffectiveness. In addition to this, evaluation of performance related to firm can be recognizedhere. Hence, through this report several aspects are to be analyzed for implementing smallenterprises.TASK 11.1 Company’s profileBusiness organization’s proper structural framework can be understood as follows:-Name:- Hungry houseOwner structure:- Small business enterprise, who works at low level. There are limitednumber of employees perform at workplace. Moreover, financial structure of company isnot 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, UKwhich performs small level business activities. It aims to improve working efficiency ofcompany 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 financialmanagement for qualitative services of SME.Activity:- Dragons’ Den’s Hungry house is a food industry, which takes order for foodservices. In addition to this, company’s business activity includes products’ delivery
through online marketing. In this regard, organization provides restaurant facilities forserving food (Goss, 2015).Business location:- Hungry house is located in London, UK.Strength and weakness:- Company’s strength and weaknesses can be obtained asbelow:-Strength:- Positive factors of Hungry house includes effective customer focused,applying innovative ideas for increasing working efficiency and flexibility to get adjustedaccording to changes occurs at workplace. In this regard, strength of small enterprise aredetermined as effective tools to set objectives for developing business activities oforganization to improve food services (Eid and El-Gohary, 2013).Weaknesses:- Hungry house is small enterprise of UK has weaknesses of poor workingefficiency for food services. Including this, it is determined that organization has lack offunds as there are effectiveness in fund allocation is obtained. It impacts onenvironmental factors of SME for entity’s development. Moreover, due to efficiency offinance it remains difficult to reach out resources for proper production and distributionsystem (Feussner, Landefeld and Weinberger, 2016). 1.2 Comparison of current financial performance to last year’s including different sectors’ interrelationshipEconomic structure of Hungry house is compared to past year’s performance. It isdetermined that organization’s effectiveness is impacted through recognizing financial andother sectors’ performances. This other effected sector involves production, marketing, HRand research departments of entity (Smither, Houston and McIntire, 2016). In this regard,differences between Hungry house and Richard Earnest business performances in financialincluding other sectors can be expressed as:- Financial performance:- It is comprised that economic profile of Richard Earnest is higherthan Hungry house. In accordance to this, there is lack of finance which impacts on Hungryhouse’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 bothentities impact of productivity and profitability of firms to run entities.Production and operational factors:- Financial performance of organization effects onsupplement of food provided by entity. In comparison to Richard Earnest, production anddistribution system of Hungry house is more effective. It is due to optimum utilization ofresources. 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 takesdecisions for further business activities. In comparison to Hungry house, marketingdepartment of Richard Earnest is less attractive. Therefore, transaction of goods and servicesare 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 andBiggs, 2014). Thus, Richard Earnest and Hungry house’s business performances arerecognized by analyzing entire performances. Hence, finance department of Hungry house is determined by comparing its performancewith Richard Earnest’s business structure. It presents framework related to strength,weakness and techniques to run entity through recognizing environmental factors of entity. Itleads to prepare budget and preparing strategies for business. Thus, different departments’performances are comprised to each other which are interrelated. These are helpful tools forplanning and decision making process to run entities effectively (Cavico and et.al., 2014). TASK 22.1 Appropriate actions to overcome weaknessesHungry house has various limitations such as poor food qualities, less number of branches toexpand business. It is because of inefficient fund. Therefore, these weaknesses can be recoveredby following strategies;-
Problem solving strategy:- It is related to action planning for solving out problems occurs atworkplace. In this regard, manager of Hungry house requires preparing strategy for determiningsolutions to overcome the situations. For example, if there are technological issues arises thenadoption of new techniques and collection of funds remains appropriate strategy for organization(Blackburn, Hart and Wainwright, 2013). Thus, implementation of action planning to solve outproblem 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 beobtained. Regarding this, proper financial management is presented to manage fund forqualitative services of SME. It is useful action to increase productivity and profitability ofindustry (Wellin, 2016).Action oriented strategy:- It is essential for Hungry house to strongly focus on set objectives forimprovement in business performance. Hence, effective development of organization is possiblethrough developing strategies. It is valuable to generate ideas for further business activities tooperate small enterprise in growing manner.Finding solutions and alternatives:- Development of small business entity Hungry house ispossible through determining solutions and looking for alternatives to solve out the issues. Inorder to this, effective performance and qualitative food services can be achieved. It will impacton 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 effectivebusiness activities by accepting technological changes. Therefore, increasing in demand for foodservices will be achieved at high level. It is vital tool to aware society for taking advantage ofgoods and services effectively (Tsai and Yang, 2014).2.2 Methods in which existence performance can be maintained and strengthenedExistence of Hungry house and its performance is possible to maintain through differentapproaches. For instance, maintaining business records focuses on proper market demand,providing qualitative food services and using attractive tools etc. These tools and techniques canbe understood in brief as follows:-
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