Small Business and Entrepreneurship

This assignment focuses on various aspects of small business management and entrepreneurship. It examines topics such as entrepreneurial orientation, firm strategy, and the role of technology in driving dynamic capabilities within small businesses. The analysis also considers factors influencing small business performance, including strategic sourcing and networking interactions. Additionally, it highlights the importance of business plans for success in the small business sector.

Small Business Enterprise
Name
Institution

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Contents
LO1. Be able to investigate the performance of a selected small business enterprise................................3
1.1.Produce a profile of a selected small business identifying its strengths and weaknesses.................3
1.2.Carry out an analysis of the business using comparative measure of performance..........................6
LO2. Be able to propose changes to improve management and business performance.............................7
2.1. Recommend with justification, appropriate actions to overcome the identified weaknesses in the
business...................................................................................................................................................7
2.2. Analyse ways in which existing performance could be maintained and strengthened.....................8
2.3. Recommend with justification, new areas in which the business could be expanded......................9
LO 3. Be able to revise business objectives and plans to incorporate proposed changes..........................10
3.1. Produce an assessment of existing business objectives and plans.................................................10
3.2 & 3.3 Revise business plans to incorporate appropriate changes....................................................10
LO 4. Be able to examine the impact of change management on the operations of the business............11
4.1. Report on the impact of the proposed changes on the business and its personnel.......................11
4.2. Plan how the changes will be managed in the business.................................................................12
4.4. Monitor improvements in the performance of the business over a given timescale......................13
References:................................................................................................................................................14

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LO1. Be able to investigate the performance of a selected small business
enterprise
A small business enterprise is a revolutionary change in the business world. The small business
enterprises are the grass root level of a successful business. The enterprises are used to be set up
with a sum of cheap capital. The Fontain Motors Ltd of the United Kingdom is a small business
company which has shown growth in its business. The company was established in the year
1990. The interesting fact is that this automobile organisation is the first sovereign trader who
provides its unique services for Audi cars in the United Kingdom (Sharafizad, & Coetzer, 2016).
1.1. Produce a profile of a selected small business identifying its strengths
and weaknesses
Fontain Motors Ltd is the first independent dealer in the nation. It boasts specialty brand
which create successful results in the country. It is the best way for the new generation to deals
with innovative work and development of the country. The company always looking for new
things that are needed in market for development of the accomplishment of goals and objectives.
Like all the large companies the small business enterprises also bear the strengths and
weaknesses of the association regarding its internal and external factors. The strengths and
weaknesses of the Fontain Motors Ltd are discussed in the below –
Strengths
Individual handling:
Consumers will over and over again reimburse a premium for modified concentration. In various
organisations where services and costs distinctions are negligible, the particular aspect comes out
as a major bloodthirsty benefit (Bridge, & O'Neill, 2013).

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Superior inspiration:
Chief administration of a small enterprise like Fontain Motors Ltd usually forms of the
proprietors. They give their best efforts, for a long time and with added individual participation.
Benefits and wounds in the earning have more sense to them than remunerations, and additional
benefits like compensations have to the workers of an international corporation (Bamiatzi, &
Kirchmaier, 2014).
Better suppleness:
A small business enterprise carries remarkable improvement of suppleness. Large business
corporations never discontinue process with no resistance from prearranged efforts or still
enlarge charge of their services without possible involvement from the administration. Small
enterprises have limited outline of the announcement (Turner, 2013). Their merchandise defences
are slight, their marketplace is restricted and their industrial unit and stores are the slam. They
can speedily mark problem or chance and get suitable accomplishment.
Fewer administrations:
In small business the entire difficulty can be measured gladly, the verdict can be in use rapidly
and the consequences checkered with no trouble. But in an international corporation, false
organisation arrangement can guide to hold up in use achievement, and technically manipulates
(McAdam, McAdam, Dunn, & McCall, 2014).
Inconspicuous: A small company can attempt current trade plans or bring in latest services with
no magnetise unwarranted concentration or conflict. It is probable for the reason that it is not
fairly as distinct as international business. Large corporations continually featured with substitute

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encounter conflicted trust measures and administration policies. It is also rigid and tight to
modify or reorganize (Jolly, 2013).
Weaknesses
Economic restraint:
Small enterprises discover it complicated to obtain adequate finances for their actions. It is
dissimilar to international because they do not accept crimson runner conduct by investors when
requesting for finances. Small enterprises do not utilise recognition as an advertising means as
enthusiastically as corporations which hold extreme capitals like the big companies (Lee, 2013).
Recruitment issues: Small businesses cannot compensate hefty wages and give chances and
rank usually connected with large firms. Small enterprise property-owners have to focus on the
habitual troubles of operating the industry and contain slight instant left to imagine concerning
intentions (Berger, 2013).
Elevated direct charge:
A small industry cannot purchase underdone resources, technology or provisions as reasonably
as an outsized group or gain big manufacturer’s financial system of the level. For each
component, construction expenses are elevated for a small enterprise, other than operating costs
are usually inferior to that of global companies (Liker, & Convis, 2012).
Need of reliability:
The civic believes the manufactured goods of outsized organisations because its given name is
famous. A small business requires moving violently to demonstrate the company every moment

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it tenders innovative services or go into the latest bazaar. It’s standing, and precedent triumph in
the bazaar put rarely bear influence.
1.2. Carry out an analysis of the business using comparative measure of
performance
The business of a small business enterprise is entirely different from the trading methods of large
companies. The Fontain Motors Ltd seems to be found like the other similar small business
enterprises.
This automobile company was found several years back. But there are few improvements in the
organisations which have helped to make the business visible to the world apart from doing
business in the United Kingdom (Abid, & Tadj, 2012). The automobile dealer was started from the
very basic level. Unlike the large corporations like TESCO, BMW and other car manufacturers,
the Fontain Motors Ltd is not a renowned dealer. The business model of this company is not so
classy and polished like the large producers.
But as the owner of the Fountain Motors Ltd, it is to be mentioned that the organisations have
done something splendid over the past few years. The organisation has not become so big that
the services regarding different brand cars are being provided. The company has not become so
strong that it can manufacture new cars for the consumers all over the world. The companies like
BMW, Porsche, and Lamborghini are doing their business extremely well all over the world. But
this Fontain Motors Ltd is doing a poorer business than those branded car companies (Aktar,
2016). The company has managed to provide services only related to the Audi cars in the United
Kingdom. Apart from this, the Fontain Motors Ltd is providing the facility to sell the Audi cars
and buy the used cars from the consumers of the United Kingdom. So it can be said that the
business of the dealer of the car is not higher than the other automobile companies of the

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country. But it is obvious that the company has shown an important development in its business
as a small business enterprise (Pride, 2017).
There are several elements through organization able to measure their performances. They are as
follows:
Business financial statements: In this aspect, Fontain Motors Ltd able to measure their
performances through compare it with past data. Therefore, it includes, cash flow, investment,
etc. which need to be measure to increase profits.
Ratio analysis: In order to implement ratio analysis, liquidity position need to assess in business
unit. It is the best way through Fontain Motors Ltd can assess their profitability in systematic
way. Therefore, targets will be developed.
LO2. Be able to propose changes to improve management and business
performance
It is evident that the Fontain Motors Ltd requires few changes to improve the management and
business performance.
2.1. Recommend with justification, appropriate actions to overcome the
identified weaknesses in the business
The weaknesses that are mentioned in the above should be replaced with the improvements in
the Fontain Motors Ltd. Those improvements are –
i. The organisation need to focus on the products and services. The large companies
were also at first like the small business enterprises, but they become famous because
of their quality of services and products (Valadkhani, Chen, & Kotey, 2014). So the

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Fontain Motors Ltd should make the clients believe that the organisation is good
enough to be trusted. It will help the company’s performance.
ii. The financial help from the investors can boost the organisation. But the key factor is
that the firm needs to produce original and exact items which can make the investor
believe that their invested money will not meet loss (Lechner, & Gudmundsson, 2012).
iii. Although the Fontain Motors Ltd cannot provide high salary to the workers, the
association should employ more workers in number so that their works should be
done in a minimum time. This can help the dealers to make the production faster than
the previous situation (Moore, Grammich, & Mele, 2014).
iv. The maintenance charges of the company should not be sky high as the large
corporations. Those big firms use to take charges high as they are famous enough.
But the Fontain Motors Ltd should take reasonable charges because this may help the
customers to visit several times.
v. Effective and proper management: In this way, Fontain Motors Ltd can improves
their performances to take several actions within the business unit. It is the best aspect
through proper attainment can be developed to overcome the issues.
vi. New segment area: Fontain Motors Ltd working as the small business enterprise.
Therefore, they have to offers different kinds of services which given to new segment
areas. It is the best way to enhance customer base in the market.

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2.2. Analyse ways in which existing performance could be maintained and
strengthened
The Fontain Motors Ltd is a small business enterprise. But there some key elements which have
made the organisation stable to hold the business all over the countryside. But those factors have
to be maintained well and should be revised to make the company’s performance better than the
previous one.
i. It has been earlier mentioned that the organisation provides the personal touch to the
products. But this kind of things does not occur in the other automobile companies.
The Fontain Motors Ltd management should come to the point about recruiting
experts regarding every segment of the work. This change can make the better effort
to best and help the dealers to do more business.
ii. The Fontain Motors Ltd authority should launch few policies so that the workers of
the company can get extra benefits from the organisation. The scheme should include
health plans and other savings methods so that they can get those things like an
additional motivation. This plan can make them more careful about the firm and
enable them to work more. Apart from this, the management should demonstrate
night shifts and overtime wages. This will make the staffs do their jobs according to
them a comfort level.
iii. The Fontain Motors Ltd is that kind of company which mainly use to settle the
business in the country of United Kingdom. This organisation is doing good in this
matter. But the firm should also think about expanding their branches in every region
or city of the country. In the cities like London, the firm should increase the number

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of their services. This will make their business strong enough and can give a tough
competition to the other renowned automobile store in the United Kingdom.
iv. In order to motivate the employees, the chosen organization has effective strategy to
maintain their standards and performances. It is the effective aspect to take support
from several activities and operations.
v. Feedback is the another important parameter that assists to grow performances in
systematic aspect. Therefore, the organization can develop their functions as per their
customer requirement.
So these are the factors to maintain the existing strong elements of Fontain Motors Ltd to do
more business.
2.3. Recommend with justification, new areas in which the business could be
expanded
The business of Fontain Motors Ltd is above expectations in the country like America. The
company is in the sky high position in the regional areas of the United Kingdom. The
management of this Association has already fixed their aim to spread the business all over the
European nations.
But the central motif should be changed. The direction should be diverted to the Asian countries.
The countries like India and China are doing great by improving the figure in Gross Domestic
Products of the respective countries. As the income of the people of these Asian nations is good
than the previous one, so the demand for the automobile vehicles are high in these countries.
Nowadays India is on the list of one of the developing countries of the world. Apart from this,
the employment issues can be resolved here because the country is facing the unemployment

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factor for many years. The meritorious students of the country can join the firm in a reasonable
salary. On the other hand, China is already a highly developed country. So the technology of this
nation could bring a drastic change in the matter of manufacturing. In the China, the chosen
company has several opportunities to enhance products and services. Therefore, it assists to
gather relevant information in the market. In this way, goals and objectives can be accomplish
for ascertain better services.
LO 3. Be able to revise business objectives and plans to incorporate
proposed changes
The Fontain Motors Ltd need to established few teams to revise the targets and plans to make the
business more effective than the earlier situation.
3.1. Produce an assessment of existing business objectives and plans
The business model of the selected small business enterprise becomes changed after
implementing the changes in it. The plans and goals which are mentioned above are mainly
related to the improvement in work and the establishment of a secure business administration.
The recruitment methodology of the organisation has to be more developed because the key
factor to bring in changes in a company is the working people in the firm. Another factor which
is one of most important one is the collection of capitals from the biggest investors of the
country. The management should be placed in a way that there will be each and every small
group regarding respective segments (Dror, 2017).
Structure of business plan: Fontain Motors Ltd required structure to develop their
business plan which never harm to take any action and activities in the business. Therefore,
results never affect to the business operations. Changes in the plans need to be maintained to
assess flexibility and effectiveness.

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Assessment of objectives as per the enterprise performance: The chosen enterprise
also required to maintain their plans with objectives to assess business results. Therefore, they
have to assess balance sheet, profitability, sales, etc.
3.2 & 3.3 Revise business plans to incorporate appropriate changes
As the Fontain Motors Ltd is an automobile company, so the changes are quite different from the
other recruitments.
Well- established recruitment board:
A well set up recruitment board can play a vital role in the matter of bringing in changes in the
company. Employees of an organisation are the key element to establish an association. The
smart picking off employees can bring unique ideas to the firm.
Equality among employees:
As an owner of the enterprise, it is advised to keep the atmosphere of the small business
enterprise should be calm. There should be no menacing factors among the employees. The
lower grade staffs should not be ignored. Apart from this the authority sometimes needs to take
ideas from the workers of lower scale (Boone, Kurtz, & Qualman, 2011).
Punctuality in work:
One of the most noticed issues in a small automobile company is that many times the cars of the
small business enterprise are being brought back by the consumers. As a result, the company
needs to face trouble regarding trust issues and new labours. So the workers should check the
products minutely before delivering those items to the customers.

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Adopting new technology: In respect to evaluates business performances, new technology
required to make certain changes as per the customer requirement. In this way, new technology
can be adopted to demonstrate quick services.
Evaluating business performance: In order to evaluate business performance, measurement
can be developed in systematic aspect. It is the best way to accomplish objectives and goals.
Therefore, Fontain Motors Ltd can identify performances through focusing on business
objectives.
LO 4. Be able to examine the impact of change management on the
operations of the business
4.1. Report on the impact of the proposed changes on the business and its
personnel
The changes which are replaced as the high points in the small business enterprise cast an
enormous impact on the entire business of the company and also to the members of the industry.
The effects are described in the below –
i. The increase in the sale:
The punctuality in the work and the handling of the management improves the manufacturing
department. So the production of the organisation shows growth and the whole effect generated
by the sale of the products of the small business enterprise (Lanza, & Passarelli, 2013).
ii. The increase in salary:
The increase in the selling of products helps the company to secure more earnings and profits. So
there is no hesitation to the management to increase the wages of the labours and the salaries of
the employees of an organisation.

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iii. Reputation:
The improvement in products and the originality of products boosts the organisation to attract
more consumers. After receiving a quality and trusted the product from a small business
enterprise like Fontain Motors Ltd, the clients becomes pretty impresses, and the growth in
reputation is seen in the business firm (Majumder, & Barman, 2013).
4.2. Plan how the changes will be managed in the business
The plans are –
Launching new prospect:
The capability to clinch transformation can assist workers in a trade by generating new chances.
A member of staff who passionately relates herself or himself to knowing the new-fangled place
of work workstation can also teach someone who is further uncertain. By presuming this
management function, the members of staff may put themselves as an important person who is
able of supercilious extra farm duties, creating themselves a probable applicant for prospect
endorsement (Tendai Chimucheka, 2012).
Hopeful modernization:
Trades which are skilful at conducting or yet espousal modification can promote surroundings
that give confidence novelty. Workers who experience that their thoughts will be measured by a
boss or commerce holder may be additional enthusiastic to imagine artistically, which can
facilitate a cultivation of a company. An only high-quality manufactured goods or selling thought
be able to create a significant distinction in the achievement of a small business.

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Amplified competence:
The modification can enlarge the effectiveness of occupation methods, which can formulate for
supplementary content patrons as well as workers. A first rescue procedure can boost the
momentum in which a client obtains products. Changing to a mechanised compensation
progression may denote that a vendor is remunerated his payments earlier. A current portion of
equipment can support an employee in pacing up a segment of the manufacturing procedure in
an industrial unit.
Transform:
Change is the effective process that require accomplish effective results in systematic aspect. In
this way, understanding need to be develop for development of Fontain Motors Ltd.
Activity (in month) 1 2 3 4 5 6 7 8 9 10 11 12
Setting of objectives and goals
Conducting market research for
analysis demand of the products
New product development
Promotion activities for enhance
brand image
Implementation of plan
Expansion of business operations

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Increase customers satisfaction
Monitoring and controlling the
process of business results
(Costanzo, Vurro and Perrini,
2014).
Maintain and sustain
organizational performance
through innovation and evaluation
4.4. Monitor improvements in the performance of the business over a given
timescale
There are too many improvements regarding the fulfilment of the organisation. The
improvements are provided in the below –
i. The business model of the small business enterprise has become quite impressive.
ii. The increase in the business has been implemented.
iii. The workers get more wages than the past salaries.
iv. The organisation is getting bigger, and the branches are opened in those areas where
there was no mark about the association.
v. The company is giving a stiff competition to the other companies.
vi. The number of stakeholders has become increased.

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