Small Business Enterprises Sample Assignment
Added on 2020-01-07
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SMALL BUSINESSENTERPRISES
Table of ContentsTASK 1..........................................................................................................................................................41.1 Profile of the company......................................................................................................................41.2 Comparison of Financial Performance...............................................................................................5TASK 2..........................................................................................................................................................62.1 Actions to overcome weaknesses......................................................................................................62.2 Ways to maintain and strengthen current performances..................................................................72.3 New areas for making expansion.......................................................................................................8TASK 3..........................................................................................................................................................93.1 Assessing Business Objectives...........................................................................................................93.2 Business plan and areas of changes.................................................................................................103.3 Action plan for the implementation of change................................................................................11TASK 4........................................................................................................................................................114.1 Impact of proposed changes will have on business and its personnel.............................................114.2 Plan for managing change...............................................................................................................124.3 Improvement in the business operations........................................................................................13CONCLUSION.............................................................................................................................................14
INTRODUCTIONSmall and medium business enterprise are those organization which is owned and controlledby the owner itself. In such kind of organization, there is no more than 250 employees and the annual turnover of these organization arte below 50 million euro. United kingdom is one of the country in the world which welcoming for the new start up business and it is dominated by service industry. In addition to this, sales operation of these organization is limited in the country. But these kind of business have huge scope for development and growth at global level. In this project report, various strength and weaknesses of the small business enterprise Razzmatazz Theatre school has discussed (Cassar, Ittner And Cavalluzzo, 2015). It is a children theater and drama company which provide the training to children’s and adults about the singing,dancing, drama etc. In this report, financial statement and business performance has compared with similar business in the same industry. In addition to this various criteria and ways to expandthe existing small business has also discussed in this report. The major objective of this report is to understand the business activities and way to expand small business in the country.TASK 11.1 Profile of the companyBusiness name- Razzamataz Theatre SchoolsMission- The mission statement of Razzamataz Theatre Schools is to provide training or teaching about wonderful singing, dancing and drama. Vision: The vision of the corporation is to become a leading and successful teaching school of arts through having an excellent audience base.Aims and objective The major aim and objective of this organization is to attract the large number of customer and earn the maximum market share. It want to earn extreme profitability and brand image in the UK market.Ownership structure: Private Limited Company and major shareholder is Ms Denise Gosneyowning more than 75% sharesHistory/background- It was founded by Denise Hutton Gosney in 2000 and in 2007 e took it to business program conducted by BBC, Dragon's Den were investor Duncan Bannatyne supported to launch company all over the countryActivities and operations- Its major activities is to provide arts to students so it provide trainingabout singing, dancing, drama to children and adults. It have highly professionals and expertise who have excellent knowledge about the arts (Blackburn, Hart And Wainwright, 2013).
Locations: Registered office is in London but has expanded to 14 countries through outlets. It offers training for all the performing arts including musical theatre, dance and song, drama, improvisation and physical theatreStrength- Razzamataz Theatre Schools have major strength is its highly advanced and excellent quality of services. It is famous in the UK because of its quality services.One another strength is that it is operates around 14 countries and each country it have highly skilled and knowledgeable trainer who provides training about singing, dancing and drama.WeaknessRazzamataz Theatre Schools have major weakness is that it provides training or teaching to children and adults only. It does not provide teaching for dancing, singing and drama to old age people.The another major weakness is that it charged very high prices from its customers so lower income group people can not afford these services.Another weakness is it have lack of technical support through which some time creates slow business process.It have lack of promotional activities so many of people do not aware about its teaching services.One another major weakness is that cited school runs only on Friday and Saturdays.1.2 Comparison of Financial PerformanceAs per the above discussion it has been ascertained that there are various kinds of strengthand weaknesses of the Razzamataz Theatre Schools. The cited venture have major competitor isSwing patrol, which is regular focusing their efforts to deliver top quality singing and danceteaching to children and adults. Swing patrol is another teaching organization which providetraining about the dance to its customer in the UK market. Swing patrol gives the toughcompetition to the Razzamataz Theatre Schools because it have more market share andprofitability. Ratio analysis is consider considers as the best technique to quantitative measuresand evaluate the comparative performance of both the SMEs.Year Razzmataxx TheatreSwing patrolRevenues Net profit Net profit margin Revenues NetNet
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