Entrepreneur Skills Assignment - Talent Plus company

Added on - Dec 2020

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Developing entrepreneur skills
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1) Main considerations a small business or social enterprise needs to address when planningand allocating resources to achieve business objectives.......................................................1TASK 2............................................................................................................................................2P2) Processes of customer relationship management for a small business or social enterprise.................................................................................................................................................2P3) Discuss how a small business can develop transnationally and determine its benefits anddrawbacks...............................................................................................................................4TASK 3............................................................................................................................................5P4) cash flow statements of Talent Plus organisation..........................................................5Interpretation....................................................................................................................................6P5) How break- even analysis could be applied to an organisational situation.....................6P6) Financial statements for an organisation in relation to how they contribute to thesuccessful management of the organisation...........................................................................7Trading account and Profit and loss account..........................................................................8TASK 4............................................................................................................................................9P7)Impact of legislation and regulations on small businesses or social enterprises............9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneurship skill is very important for growth of the organisation. This report willbe explain the considerations of small business and process of customer relationshipmanagement (Chuen and Lee, 2017). This report will describing the benefits and drawback ofasmall business and how they can develop transnationally. This report is also discuss the breakeven point and financial statements of Talent Plus company.TASK 1P1) Main considerations a small business or social enterprise needs to address when planningand allocating resources to achieve business objectivesPlanning resourcesis a particular area in small business that help with gathering andmaking use of all important resources required to fulfil business need. It also includes all thosethings which are useful for running small scale business like people, IT tools, materials,facilities. Mostly knowledge and creative work is the most essential resources of small size firms(Chuen and Lee, 2017).Talent Plusis also focus on their available resources and thisorganisation is also use in their resources in effective manner.Budget :it is the process of creating plan to spend in small business and social enterprises, ithelp to ensure that will always have sufficient funds to fulfil the business need. Budgeting isspecifically important for small business group, it is the process of creating plan to spend moneyin small business and social enterprise. Talent Plus and also make budget plan for running theirbusiness. The main reason make budget planning it helps to provide a mechanism foridentifying need of business and it also provides enough information regarding revenue andcost per unit. This organisation are constructed budget plan for attract investor, increasing theirsales and making decision about the salary, benefits, bonuses and other operating expenses, it isvery easy to preparation of tax planning.Skilled employees :it is also very important in small scale business, Talent Plus organisationincreasing their profitability ratio and strong growth so they have need to skilled employees.Because it is important for future development and earning more profit. If this company hireright skill person so there business is also sustained for long duration. This corporation need toskilled, knowledgable staff it is very necessary for achieving the goal of the business. Need ofemployees without worker no any organisation achieve their goal so small business also need1
employees so Talent Plus company are hire skilled people, they need them for creatingexcellence idea, and achieve their business goal. They also help to increasing the work efficiencyand full fill organisation expectations. Employer help to maintain organisation culture it isconsiderations of human resources management. This company HR department is responsible forhiring , recruiting, performance management and build a team work.The business plan :it is also very helpful for small enterprise in making effective businessplan . It is related how to start a business, its need, goals and objectives , finance need these arethe some guide line of small scale business(Walker, 2015). Talent Plus company also makingeffective business plan and also follow these guidelines. It is also necessary for achieve the goalthe small scale business.Market Demand :it is also very necessary for small business, if Talent Plus company run theirbusiness providing quality product so demand of their goods and services is also generated(Walker, 2015). They also focus on their market demand, it is the total amount of goods andservices that all the customer are willing and afford to purchase the product at certain rate. It isnecessary for small business they deciding their product prices so consumer ready to purchaseand able to buy at a given rate.TASK 2P2) Processes of customer relationship management for a small business or social enterprise.Customer relationship management (CRM) is the process of managing small businessand social enterprise relationship and interaction with consumer and help to stay connected withtheir clients and it is also helpful for improving the profitability margin of the organisation.Talent Plususually referring to CRM system, it is tool that is very effective for managing thesale of this organisation, increasing the productivity of the business. It main motive to improvebusiness relationship. There are some important process of customer relationship is given below.2
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