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Estimating the Growth Challenges of Small
ACKNOWLEDGEMENT For the accomplishment of the present dissertation I would like to sincerely express by earnest gratitude to my mentor who has provided me sufficient knowledge and greater support. Further I would also like to thank my friends, colleagues and family members who have guided me at every stage while conducting this dissertation. Through their support, I was able to complete my thesis with effectiveness and in an accurate manner. Lastly in the series, I would also like to state special thanks to my team members who have provided me huge assistance in collecting relevant set of data and further analysing .
Table of Contents CHAPTER 1 - INTRODUCTION...................................................................................................5 1.1 Overview..........................................................................................................................5 1.2 Research problem.............................................................................................................5 1.3 Chapter structure..............................................................................................................6 1.4 Focus and Purpose............................................................................................................6 1.5 Aim and objectives...........................................................................................................7 1.6. Research questions..........................................................................................................7 1.7 Framework and analysis...................................................................................................7 1.8 Potential significance........................................................................................................8 CHAPTER 2: LITERATURE REVIEW.........................................................................................9 2.1 Introduction......................................................................................................................9 2.2 Importance of expanding business by SME in retail sector.............................................9 2.3 Growth challenges faced by River Island in the retail sector.........................................10 2.4 Impact of competition and innovation on the growth of retail sector............................12 Alternative finance proposal and support, advice and resources is the factor to consider for growth of the firm.................................................................................................................16 Conclusion.....................................................................................................................................17 CHAPTER -3 RESEARCH METHODOLOGY...........................................................................18 3.1 Introduction....................................................................................................................18 3.2 Research philosophy.......................................................................................................18 3.3 Research approach..........................................................................................................18 3.4 Types of research............................................................................................................19 3.5 Research design..............................................................................................................19 3.5 Data collection methods.................................................................................................20 3.6 Sampling.........................................................................................................................21 3.7 Data analysis...................................................................................................................21 3.8 Validity and reliability....................................................................................................21 3.9 Research ethics...............................................................................................................22 3.10 Research limitations.....................................................................................................23 Conclusion............................................................................................................................23 CHAPTER 4: DATA ANALYSIS................................................................................................24 4.1 Introduction....................................................................................................................24
Abstract Aim:To investigate the growth challenges faced by SME while expanding business in a retail sector Methodology:The current dissertation is based oninvestigating the growth challenges faced by SMEs while expanding business in retail sector andtherefore, both primary as well as secondary methods will be considered by the scholar. In primary method, information will be gathered from survey.However, secondary information will be collected through books, journals and articles. A thorough study of literature work will be done through different author’s books, journals and internet which will form the base for secondary research. Findings:From the basis of above research, it has been concluded that SME companies has facing many up and downs in retail sector as per the research findings. The big challenges facing by the small business growth in competitive market. Present research was based on River Island which is the London headquartered high street fashion brand having number of worldwide markets. The objective of the study were determined the current challenges in retail sector which is faced by small business scale organisations
TOPIC Estimating the growth challenges of Small and Medium Enterprise Businesses CHAPTER 1 - INTRODUCTION 1.1 Overview SMEs is known as the engine of economy, they play significant role for growth and development of nations. Growth is known as one of the inevitable phases of a business lifecycle (Storey, 2016). It started with start-up stage and followed by development and growth. In retail sector, there are a large number of companies that are operating business in the UK retail sector. Therefore, small medium companies are facing issues at the time of expanding business. They are looking for the growth perspective of its intrinsic challenges and strategies for handling it in an effective manner. However, business environment leads to play an effective role in the growth of SMEs. Measures are taken most of the time in respect to minimise the administrative burdens (Curran and Storey, 2016). Through introducing tax calculation, government can easily promote the growth and make sure that company gets access for finance. The present study is based on investigating the growth challenges faced by SME while expanding business in a retail sector. The study will help in developing in-depth understanding related to selected topic and way to overcome issues. Business expansion leads to present the issues which have to be addressed because growth leads to cause variety of changes due to finance, managerialandlegalchallenges.Growthmeanscompany’smanagementcanbecomeless centralised and it may increase the level of internal politics. For River Island, growth means expanding shares, dealing with competitors, implementing new strategies, etc. Along with this, additional capital is needed for the growth of business. River Island is operating business in the retail sector which is now required to focus on its growth and expansion to accomplish success. It is important for company to understand the issues which they can face while expansion and overcome them. 1.2 Research problem Growing business leads to face a lot of challenges. When the business grows, various problems and opportunities demand various solutions. It is important to recognise and overcome common drawback related to the growth for success of business. For small medium organisation, it is not easy to make good position in the market without effective employees, advanced technologies and current strategies. There are different types of challenges which company need to face such as competitors, technology, etc. It is important to overcome them through adopting appropriate strategies which can help in growth and expansion. Present research will help in understanding all challenges faced by River Island Company at the time of expanding a business. There are various
solutions which will be provided in respect to make improvement in company so that it can work in an effective manner. All successful small businesses at the time of start-up face various issues related to handing business expansion and growth. It is considered as the stage of firm life which is trouble with both threats and opportunities. 1.3 Chapter structure At the time of considering an investigation subject, examiner is obligatory to take after a progressive case by adhering an especially described and reasonable structure. This structure can be displayed by following a section that can be held as an appropriate construction for the present research. Here below is the provided structure of study: Chapter 1: Introduction –Section 1 is one of the important chapters that will provide a clear frame- work for the selected subject matter. This section will cover aim and objectives, research prob- lem along with potential significance of conducting the research. Chapter 2: Literature Review– It is the second chapter in research that provides detailed outline of importance of expanding business by SME in retail sector. Growth challenges faced by River Island in the retail sector’ will be identified. This segment will lay focus on covering the objec- tives of investigation. It will be done through undertaking an assessment of the various research studies. All the published works and articles will be incorporated in this chapter. Chapter 3: Research Methodology– In third section, the researcher will be provided with detailed description of the tools and methods which are selected for the present research. Along with this, validation of the selected technique will be provided. At the last of this chapter, ethical considerations and limitations faced by scholar will be discussed. Chapter 4: Data Analysis and Findings-It is the chapter in which information gathered from differ- ent sources will be analyzed. Chapter 5: Disucssion and findings:In this chapter all the findings will be discusses in related to the literature reviews which help in concluding valid outcome in next chapter. Chapter 6: Conclusion and Recommendations– In the last chapter, investigator will present the findings derived from the analyzing information. Further, recommendations will be given for the improvement. 1.4 Focus and Purpose The investigation is conducted with main reason of investigating growth challenges faced by SMEwhileexpandingbusinesswithrespecttoRiverIsland.Thereasonforconducting investigation is to identify gap left by previous scholar on selected subject matter. There are many researches carried out on the growth challenges faced by company and its impact on firm expansion. For the organisation, it is important to identify challenges and overcome them to expand
business successfully. It is important for retail companies who are operating their business at a small scale. There are various growth opportunities available which firm should understand and grab them. It is one of the ways to be successful in retail sector. Due to increase in competition, it becomes tough for companies to carry out their business at high level and give them tough competition. Companies should know about the latest trends and try to follow them which helps in making position and expanding business in market. In this context, the purpose of current research is to gain understanding related to different aspects of growth challenges and way to overcome them. 1.5 Aim and objectives Aim To investigate the growth challenges faced by SME while expanding business in a retail sector - A study of River Island Research Objectives To understand the importance of expanding business by SME in retail sector To identify the growth challenges faced by River Island in retail sector To evaluate the impact of competition on growth of River Island To determine the strategies to overcome growth challenges faced by River Island 1.6. Research questions Q1. What is the importance of expanding business in retail sector? Q2. What are the growth challenges faced by River Island in the retail sector? Q3. What is the impact of competition and innovation on the growth of River Island? Q4. What are the strategies to overcome the growth challenges faced by River Island? 1.7 Framework and analysis Framework and analysis are considered as one of the important tools while gathering information from different sources. All these help in providing valid conclusion for the selected topic. Here below are provided some steps:Design of research –To conduct research in an effective manner, explanatory research design will be considered by the scholar. It will help in gaining rich and meaningful information on the subject matter.Research approach –Researcher will make use of inductive approach for the present research. With the support of this, investigator can easily move from specific information to general. Present research is oninvestigating the growth challenges faced by SME while ex-
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