Introduction to Developing Entrepreneur Skills

Developing Entrepreneur
Skills

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Consideration need to address when planning and allocating resources to achieve objective
................................................................................................................................................1
TASK 2............................................................................................................................................2
P2 Various process of customer relationship management....................................................2
P3 Developing of a business transitionally along with its benefits and drawbacks...............3
TASK 3............................................................................................................................................5
P4 Annual itemised monthly cash flow forecast showing fixed and variable costs against
income....................................................................................................................................5
P5 Break – even analysis........................................................................................................7
P6 Key financial statement in relation to their contribution to the successful management..9
TASK 4..........................................................................................................................................10
P7 Implications of legislation and regulations on small business........................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
For the purpose of starting a venture, this is fundamental to contain some certain abilities
and skills which underpin these skills. This also essential to improve entrepreneurial abilities
while performing a proper job role (Cojoacă, 2017). Company's financial position is one
fundamental concept that can aid to develop stakeholders satiating as well as it deliver helps
There are several issues that influence business as well as this is fundamental to overcome from
those problem. Manager of organisation is liable for for managing activities and operations. The
report is associated with SoHo Coffee organisation that is located in London which was formed
in 1999. It deliver several drinks, beverages, coffee and healthy snacks. This assignment will
discuss business plan along with allocation of resources, process of consumer relationship
management, break-even analysis, employment laws and cash-flows statement etc.
TASK 1
P1 Consideration need to address when planning and allocating resources to achieve objective
Numerous policies and activities are undertaken for creating a proper business
environment. As the small scale organisation need to develop a proper plans through which they
can create proper vision and activities to sustain within the marketplace. SoHo Coffee Company
is located in London small scale organisation that offer variety of services and products to wide
range of target audience. These sort of enterprise contain limited financial resources in regard of
spending on the limited resources to innovate and adopting techniques at the same time offering
great quality of food. Key purpose of forming such sort of cage is to deliver wide range of
services and products as well as create a unique recognition within the consumers. Resource
availability is complex that can make the commodities production procedure more complicated
and difficult (Durst, Yip and Lee, 2015). Hence, this is essential for such enterprises to design
proper business plan in regard of attaining their set targets and achieve them within certain
period of time. Distinct elements are considered under it discussed as below:
Vision, objectives and goals: This is fundamental for business enterprises such as SOHO
Coffee Company to determine their accurate task, objectives and business operations within
certain period of time. Furthermore, entire work-group need to accomplish entire work within
certain disciplined manner on the grounds of which they can attain their set objectives. The
company is aiming over providing best coffee within the London Streets to become leading
coffee company in context of its service quality.
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Professional Development: SOHO Coffee Company need to coordinate proper events
and development session by which they can conveniently direct entire worker group for
providing more productive and innovative services. Modern mechanisms can also be adopted at
the time of operations and performance of task (El-Rafei, and et. al, 2017). Hence, employee's
professional skills allow them to interact with their visitor in more disciplined manner in order to
satiate their consumer.
Financial Resources: It is essential to manage large financial amount for SOHO Coffee
Company in regard of executing the future projects and proper fluctuation of activities. Hence,
the entire management should be portrayed in their position of market in a manner so that
investor can influence their worker in regard of investing their capital for business growth. It can
help the organisation to create awareness of their manufactures and organisation structure which
can easily help in satisfying their financial position and consumer requirements in the extrinsic
marketplace.
Hence, SOHO Coffee Company need to outlines entire mentioned elements that can
enable their optimum resources utilisation as well as increase their productivity and efficiency of
business.
TASK 2
P2 Various process of customer relationship management
Consumer are paramount components for any business company. In case of SME, major
focus of such companies are to earn benefits which is linked to the social satisfaction. SoHo
Coffee Company deliver edible products to the community so this is fundamental for them to
understand the interest of society in regard of making modifications and develop products
accordingly. Consumer relationship management is also one suitable methods which has ability
to manage consumer expectation and renovate the policies and strategies of organisation. By this,
the management technique of SoHo Coffee Company can communicate with the consumer
understanding their views (Javaid and Iqbal, 2017). In CRM, through accumulating data and
response of consumer, organisation can expand and create unique recognition through deliver
according commodities. Manager of SoHo Coffee Company can adopt numerous activities and
techniques such as SMS, Telephonic interview etc. to gather the information that can deliver new
information to employee as well. In regard of expanding the business, this is essential to review
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