Small Business and Big Data Analytics

This assignment delves into the relationship between small businesses and big data analytics. It analyzes how small businesses can leverage big data to enhance marketing strategies, improve customer loyalty, and gain a competitive edge. The report also discusses the challenges faced by small businesses in adopting big data analytics, such as data security concerns and limited resources. Furthermore, it presents successful case studies of small businesses that have effectively utilized big data analytics for growth and success.

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Small business enterprise

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Executive summary
Small business enterprise has to implement various strategies for their operation in the
business environment. Their business spheres are very small and their strength in the market is
very low. It is for that reason they have to upgrade their existing market and strategies on a
timely basis so that the total operations are followed in an efficient manner. The main input that
they require for flourishing in business is financial backing and efficient usage of those funding
to acquire success. They have to carry out internal and external analysis on a regular basis to
identify those defects and overcoming them.

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Table of content
Introduction......................................................................................................................................4
Task 1:.............................................................................................................................................4
1.1 Profile for chosen business (AC 1.1).........................................................................................4
1.2 Comparison of performances in areas of marketing, production, and sales (AC 1.2)...............5
Task 2: Consideration of weakness.................................................................................................8
2.1 Appropriate actions for overcoming weaknesses (AC 2.1).......................................................8
2.2 Analysis for maintaining and strengthening of existing performances (AC 2.2)......................9
2.3 Suggestion for business expansion in new areas with justification (AC 2.3)..........................10
Task 3: investigating further plans of business..............................................................................10
3.1 Assessment of planning of business objectives (AC 3.1)........................................................10
3.2 Existing business plans review and suggestions on changeable areas (AC 3.2).....................11
3.3 Action plans for implementation of those changes (AC 3.3)..................................................12
Task 4: Report on collected data...................................................................................................12
4.1 Impact of changes on business and personnel (AC 4.1)..........................................................12
4.2 Management of changes on business (AC 4.2).......................................................................13
4.3 Business Performance improvement in past two years (AC 4.3)............................................14
Conclusion.....................................................................................................................................15
Reference list.................................................................................................................................16
Appendix:......................................................................................................................................18

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Introduction
Small business enterprise has seen some incredible development in past decade. Several
innovative steps are taken for this purpose. The effective analysis of the business environment is
mentioned. This study is to analyze all those processes involved developing a successful
business. The company chosen here is a small business firm named Cocofina which has started
its operations in 2004 under a small business entrepreneur named Jacob Thundil. In this analysis
different types of comparative analysis are performed for improvement in business
performances. All those necessary changes and technical strategies that this firm has taken for
achieving desired results and flourishing in business are discussed in this scenario. The effective
recommendation based upon the weakness is also stated in this context. All those effective steps
which this enterprise has chosen for an establishment in a future market are mentioned in this
process. All those impacts by which recommended changes has made on a running process of
this firm's business operations are also measured. The business performance for future years is
also stated. Herein the topic is about small business through which development of the
performances is helpful for increasing its productivity.
Task 1:
1.1 Profile for chosen business (AC 1.1)
After devastating effects of First World War, world business and industrialization have
seen a period of great struggle. This wants and need for industrialization cannot be achieved
unless having required capitalization and experiences. In order to provide all those necessary
requirements, various television shows are organized in Britain. Several new entrepreneurs took
part in this show and put forward all their career plans in those discussions (Cocofina-The
Coconut Experts-Coconut Oil Water Milk Flour Sugar Amino 2017).
● Business name - Just like all other business firms this chosen entity named Cocofina also
took part in this reality show named Dragon’s Den to take its company to success.
● Owner This enterprise in founded by a very small business entrepreneur named Jacob
Thundil, an Indian-origin British who started these whole proceedings in the year 2004.

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● Historical background - In 2004 when this entrepreneur was spending a vacation in
coastal areas of Brazil, he was drinking a relishing coconut drink with his friends. At that time he
was struck with an idea of building his own business firm of coconut drink producers. He started
these proceedings by searching for best quality coconuts and utilizing them in a production
process (Ellis & Kiely, 2015). This idea was sounded very catchy and several high-end investors
liked this innovative idea and wanted to invest in this process. In the year 2005 this firm
achieved its first sense of success when it received its first award and recognition in front of an
audience of UK. After that, this firm started climbing all those ladders of success and now it sold
in over 3000 specialty and health drinks outlets in the UK. This company now has over a decade
of experience in this sphere and is looking for expansion of business worldwide in upcoming
years.
● Activities - It is now showed its interest in manufacturing several coconut related food
items and sweet products.
● Location - This Company is mainly operating in the United Kingdom and several areas
surrounding it and it is looking for expanding its business by strengthening its activities in the
international market.
● Strengths and weakness - The main strength that this company has are its selling process
is directly related to the customers. Products are priced in such a way so that all types of buyers
can afford and this automatically enhances their business outcomes. As per Flynn, McKevitt, &
Davis (2015) its main weakness is the partnership process is very thin and so its business
expansion in all parts of UK is falling short. The effective manpower and experience are required
for this firm in overcoming these criteria (Dragons' Den 2017).
1.2 Comparison of performances in areas of marketing, production, and sales
(AC 1.2)
Financial performance is mainly referred to as the measurement of the activities done in a
particular time period by a company and its effect on the financial statistics of the same. Hatten
(2015) agreed that, it is generally calculated by a comparison method which includes calculation
of all the data registered by a rival company in the same time period. The most promising rival
firm of this chosen organization is kokoso skin limited. This company mainly belongs to the same

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geographical area and is a similar-sized firm who more or less develops the same revenue when
compared.
The revenue generation of the chosen firm is 8.23 GBP on a daily basis. This is mainly
worthing 3130 GBP yearly income. Whereas, the total revenue collection of kokoso skin limited
is 6.58 GBP with company revenue collection of 2886 GBP last financial year.
The company’s banks statements are also similar in terms revolving around 500 UK
pounds.
The raw materials used by both the firm are coconut. Though there is a difference in the
product materials. This chosen organization mainly produces coconut related food products and
health drinks like coconut water, energy drinks, sweets made from coconut flesh and coconut
energy bars. Holsapple, Lee-Post, & Pakath (2014) said that, while the rival company of this
organization mainly produces products which are beauty products, skin care products, creams
and skin softeners. Along with this they also manufacture several baby creams and powders
moisturizers and nappy creams. Coconut baby oil and baby skin softeners are also produced.
Both of this company is based in the United Kingdom so the competition is very stiff.
Each of them buys their raw materials from same coconut suppliers so the rivalry is very high.
Marketing and sales department of this two companies are very similar because both of them
operates their units in various regions of London. The buyer of their manufactured products is
also belonging to the same region and so the advertising and promotional areas are highly
compared between those two companies.
The human resource policies adopted by these two organizations are also very similar.
Both of them faces stiff competition from their respective rival large companies. Kitchin &
Lauriault (2015) opined that, it is for that reason the human resource operator is appointed in
both of these organizations to deal with all those areas which need special attention. The line of
communication with customers is also given special attention because this is directly affecting
revenue generation and sales output. The business outcomes are mainly dependent on the
performances of the newly appointed sales managers in the respective organization. However,
when compared with each other, the chosen firm’s HR manager is a little more experienced in
his operations than its nearest rival so the overall turnover and revenue data collected in the last
fiscal year shows a comparatively higher profit. This rival company is new in this business so its
HR manager is also a little weak in taking all those necessary steps for the benefit of the

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company. HR manager of this picked organization collects all the necessary information in his
handbook and thoroughly analyze those figures in accordance with current market standings.
Loebbecke, & Picot (2015) said that, all those rules and regulations mentioned in the state and
national government guidelines are effectively maintained and this has helped this company in
acquiring success in the UK market. Those weak points which this firm is suffering from are
under the radar of the HR manager. The manager is constantly trying to build a strong and
trusted partnership with other UK manufacturing firms so that the current scenario could be
changed.
This picked entity has highly maintained its business success and for that reason, it
periodically follows internal SWOT analysis. In this regard, the company gets benefitted by
understanding those areas which need to be taken care.
Strength - Strength of this firm is high-quality products and all the retail outlets are
opened 24*7. This helps in generating much more profits. Besides the customer services are
given special care. All those employees working under this manufacturing and selling units are
well educated so their manners and conduct with its customer base are highly commendable.
Weakness - lack of marketing experience is troubling the manufacturing unit very much.
It is for that reason the production of this firm is decreasing. Other than that, the delivery unit is
also not very efficient. Customer satisfaction is not given a special care in this respect. The cost
of operation in the United Kingdom is very high and for this reason, the space of overall
operation is very tight and the marketing cost is very high.

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Figure 1: SWOT analysis
(Source: McAdam et al. 2014)
Opportunities - They are offering various discounts and offers in their selling unit and for
that reason; recent selling figures have taken a huge rise in performance graph. Apart from that,
they are trying various innovative experiments so that they can manufacture various other
products from their raw material which is coconut. Since a lot of products can be manufactured
from coconut so they are giving a special thought on this department. They are also introducing
new technologies in their infrastructure unit so that their overall company structure is well
maintained. They are also looking to increase their distribution channel so that their business gets
expanded.
Threats- Larger companies operating in the same region are posing a lot of threats to
their business operation. Since their budget and financial power are higher, those large
companies are trying every strategy to hamper the business of this firm. Apart from this, the
younger generations are mostly targeted by this organization and also showing a lack of interest
in their products. In addition to this new tax structure produced by the government could
decrease their overall revenue generation.
Task 2: Consideration of weakness
2.1 Appropriate actions for overcoming weaknesses (AC 2.1)
Every day offers a new opportunity to improve their business objectives. Several chances
and opportunities are obtained for overcoming this present weaknesses and gaining benefit from
the current situation. In order to gain a substantial advantage in the business, this firm should
identify all those points which are creating deficits in this current situation and then it should
implement necessary ideas for overcoming those deficits. All those weaknesses which are
observed about this company are to be analyzed and various problem-solving strategies have to
be implemented. Since the employee strength is very weak in this company they have to keep
their operational targets smaller than that of its stronger rival industries. This will eventually help
them in achieving those smaller targets and ultimately reaching higher objectives.
Besides this, they should keep a record of every aspect of business. This record keeping
should help them in calculating its overall expenditure and estimate the future targets and

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financial goals. This thing also helps this company in following all those best practices which are
benefitting the overall business market. In this respect, they can also make a market survey and
take help from market professionals who are highly experienced in this type of situations.
Apart from this, staff motivation and employee retention policies must have to be applied
in this current company structure to overcome this recent staff related weaknesses and achieving
benefit from this situation.
They also have to strengthen their customer relationship and servicing aspects so that
customers get a good impression about them. Customers should get impressed with the services
and products sold by this organization. In that case, they can improve their customer relationship
process and get periodical feedbacks from them to make their business successful.
2.2 Analysis for maintaining and strengthening of existing performances (AC
2.2)
Most of the companies particularly in small business firms tend to improve their current
market situations by spending much more than they actually are. However, there are other
strategies also for improving and strengthening this present scenario. This particular firm takes
some of those innovative techniques in these circumstances. They always try to improve their
existing customer base (McAdam et al. 2014). They give much importance to customer
satisfaction. In order to maintain a fair share position in their market, they should apply
additional staffing technique. Increased numbers of staffs help in delivering better and improved
customer services. They should also apply some other tactics like timing strategy. This involves
selling a particular product in a particular time maintaining the climatic scenario. Initiatives are
to be taken so that particular products are manufactured and sold according to the demand of the
market. They could invest in their infrastructure so that technological equipment is included in
every aspect of business transactions and operations. Phillips-Wren et al. (2015) agreed that, they
should prioritize some significant aspects and identify those places so that those parts can be
improved.
They should not forget their basics while concentrating on other higher aspects. They
have to employ some senior staffs in their operation because it is observed that some
inexperienced staffs are not working properly and servicing facilities are lacking many
experiences. The customers should be properly greeted and their queries should listen carefully.

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Even customer database are to be maintained and connected on a regular basis. Maintaining
customer connection helps in retention of regular customers and building a good impression on
their minds. The manufacturing unit is very congested so staffs are finding it difficult to work in
this atmosphere. This is hampering the whole production process because staffs are lacking many
interests in working under tight spaces.
2.3 Suggestion for business expansion in new areas with justification (AC 2.3)
This firm is investing all types of strategies in strengthening of business and expanding it
into different spheres. The most important step that has to be taken is increasing product range
and inducting new materials in their selling lists. This will help in building an advantage over its
rival companies and make a good impression in the customer's mind. They should also look for
other strategies to increase their revenue generation so that those collected revenues can be
invested in building other manufacturing units. Spence (2016) stated that, apart from this, they
can also try to build and strengthen their existing partnership and alliance with other companies.
Collaboration with different partners automatically increases the competition among the
suppliers and eventually, the product quality of the raw materials will improve and the overall
business will prosper in this situation. Another feature that can be applied is franchising
strategies. In this respect, local franchisee takes the responsibilities and risks involved and spread
this business in multiple locations. Licensing a particular product is considered as a fantastic
idea in business. In this context, some other company takes the responsibility of production and
distribution whereas the lion’s share of profit is paid to this firm.
Task 3: investigating further plans of business
3.1 Assessment of planning of business objectives (AC 3.1)
Business objectives of this company are mainly to set on acquiring profit and growth in
the business sphere. Their businesses objectives are based on a smart model which means being
specific in its approach, measuring all the objectives before advancing. They are also focusing on
agreeing all those concerned objectives, Realistic in its target and being time specific so that all
goals which are targeted are achieved in a particular time frame. However, they have to make
suitable changes in their objectives to survive in this competitive environment. They have
objectified the ethical and social factors so that profits are maximized in a future market

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scenario. The profit which is generated in this current change of objectives are satisfying and this
business organization relies on this current success and invest this profit in a future expansion.
They have also framed their objectives into two sections financial and nonfinancial
objectives. This has helped in proper risk estimating and gaining a lot of courage and good luck.
Financial objectives include sufficient sources for financing options.
Survival and fulfilment of debts are the primary points for this enterprise. Another financial
objective that this firm has implemented is a production of a viable business model and this has
generated much profit.
The nonfinancial objective includes choosing a particular strategy to get the job done.
This also includes being more flexible and convenient in their working schedule. In addition to
this, the company's another objective is having confidence in their capabilities so that potential is
not wasted.
3.2 Existing business plans review and suggestions on changeable areas (AC
3.2)
The very first thing that this industry has to make is to define and select an effective
business plan which is suitable for handling its operations. This plan should revolve around the
financial marketing as well as the sales department. They should devise those plans in
accordance with production, productivity and also the personnel strength. Since they are in the
beverage industry, they should try to concentrate on the product quality and pricing techniques
primarily. They are very capable in an implementation of those plans by evaluating all the
business objectives that are targeted. They are very agile in taking those possible decisions which
are in accord with the customer demands. They employ their staffs who are well trained.
However, they have to make sure those staffs are well paid so that they are satisfied with their
jobs and improve their customer services. They will have to incorporate those plans in their
changes of business objectives and adjust those changes in the business action plan for their
survival in the business environment.
They should look at working in a good and professional manner and maintain a healthy
relation with the supply chain, delivery chain, manufacturers as well as other entrepreneurs. They
should employ effective strategies to implement the plans in all sections of distribution. The
coordinator and operator have to be employed so that the products are kept fresh and quality of

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them is maintained. Sarapaivanich & Patterson (2015), stated that, the have to invest in the
implementation of latest technologies in a preservation of raw materials to keep them fresh.
Proper care and support should be implemented to drive those projects which are taken and
formulate those projects for a success of this company and building reputation in the market of
United Kingdom.
3.3 Action plans for implementation of those changes (AC 3.3)
Action areaChosen
strategies
TasksResponsible
person
Timeframe
Transportation
and handling and
Storage of foods.
Purchasing of
nutritious foods.
Adopting an
appropriate
mode of
transportation.
Control of
temperature for
keeping of foods
for a longer
period of time.
Implementation
of nutrition
policies of
government.
Drafting those
policy guidelines
in various
languages for
better
understanding of
employees and
customers.
Buying of
thermometers for
better
temperature
control.
Food pantry
coordinator
Pantry
supervisor
3 months
2 weeks
Task 4: Report on collected data
4.1 Impact of changes on business and personnel (AC 4.1)
The business of Cocofina has seen a rise from the year of its origin and massive
revolution occurred in working procedure of the firm. Financial functions and human resources
of business firms reform entirely when business patterns change years after years (Ackermann &
Audretsch, 2013). A similar state of business occurred in Cocofina and employees of this

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organisation changed their working process in order to bring success in business. For bringing
innovation in business, top management and employees started to take decisions collectively for
the sake of progression. As a result, load of work upon employees increases in order to attain
success in business. However, staffs did not show any behaviour of agitation instead they
willingly wanted to work for converting small-sized enterprise into large-sized enterprise. When
size of ventures is enlarged, spacious place of work is requirement so that number of employees
can be accommodated (Bell, 2016).
Cocofina has taken similar measures for maintaining good working environments for
working personnel. The organisation is gaining popularity for its preparation of healthy and
refreshing drink. There are large numbers of competitors in market that is why; use of advanced
technology is required. This will help in proper preparation of refreshing drink and urge for
drinking such new drink will enhance among people. Business plans are always taken after
considering future risks and obstacles so that preventive steps can be taken from initial stage
only. New plan of trade and commerce of this firm can be considered as a privilege for bringing
glorious success in following years. Moreover, this small-sized enterprise can attain great
popularity in local market. This will assist in expanding their business in across national borders.
4.2 Management of changes on business (AC 4.2)
Incorporation of changes in business is required to be properly managed so that no flaws
can occur after delivery of results (Calof, Richards & Smith, 2015). Today’s business world is
very competitive and in order to handle such existing conditions, effective execution of business
is a great necessity. For fetching sustainable changes in business, environmental factors like
pollution have to be considered by the entity. This will aid in increasing efficiency of this
company thereby ensuring profit in long run of business. Beverage industry has very powerful
because large numbers of customers are attracted towards variety of drinks for refreshment (Cao,
Duan & Li, 2015). That is why; change is required to be made after conducting calculation
regarding future growth. The entity has seen drastic fall in some financial years because it was
not capable of tolerating fast reformation taking place in beverage industry.
Moreover, marketing technique of their products are very poor as a result, fewer
customers are bring attracted towards them. Cocofina did entire analysis so that proper business
plan can be taken for bringing growth in firm. Employees eagerly want to accept changes

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positively and work very hard for fulfilling aims of this enterprise. That is why; real discussion is
required to be done with every stakeholder of an organisation so that better decisions can arrive.
There is a necessity of funds for incorporating changes in business (Carraher & Paridon, 2015).
Arrangement for funds is required to be done by top professionals of firm so that immense
market revenue can be attained. Moreover, competition in beverage industry has reached high
level and customer like to use latest trendy products instead of traditional ones. Demand of users
need to be understood and accurate changes can be incorporated in commerce of Cocofina.
4.3 Business Performance improvement in past two years (AC 4.3)
Business of Cocofina was started in the year 2004 and it has seen a lot of difficulties in
their business. It became a matter of great concern when the organisation found that business
performance is not well in initial years. They thought of investing more so that profit can be
ensured. This business enterprise can take help from financial institutions so that better results
can be ascertained. From year 2005, business has seen a rise in their performance. After years of
operating, increasing trend is being seen from 2013. Top management of enterprises needs to
continue to maintain this performance trend accordingly so that better results can be ensured
(Cassar, Ittner & Cavalluzzo, 2015). However, business performance did not go well in between
these financial years. A rising margin continued to be seen after 2013.
Quality of beverages delivered by this venture also increased a lot and people started
finding interest in their products.
Moreover, loans or debentures are required to be undertaken by business house so that commerce
can be explored more. For small-scale business, efficiency is required to be maintained along
with strong will power of employees to work in a much better way (Donnelly et al. 2015). This
business entity has to motivate their staffs more so that they can work in a much effective way
than before. In addition to this, a number of employees is required to be increased so that good
performance can be given in competitive market. Marketing of this beverage company seems to
be lowered in these years that are why; marketing has to be improved further so that returns can
be ensured accordingly. (Refer to appendix)
Conclusion
The study related to small-sized industries showed in what way they perform their work
and brings profit in these firms. For smooth execution of business, requirement of funds is very

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necessary. Cocofina has seen great rise in past two years but marketing of their products was not
done properly. This might affect their business so sales rate, as well as marketing; have to be
done equally for ensuring better outcomes. A new action plan has been incorporated so that
business follows a right track to gain success. SWOT analysis is performed in order to analyse
the effectiveness of micro business environment of Cocofina. Though the beverage entity has
started their business from zero level, yet they are trying to make more innovation in their
products. This will help in attracting more number of customers towards them. Significance of
employment is also discussed so that business can flourish in coming years.

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Appendix:
1. Trend graph:
Figure 2: Trend graph
(Source: Ratten, 2014)