Annual Itemized Monthly Cash Flow Forecast for Argos Online Retail Delivery Platform

Managing a Small
Hospitality Business
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Table of Content
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INTRODUCTION
The term small business enterprise refers to those firms who perform their functions and
operations with small amount of funds and employees. There is a necessity for company's
directors or managers to have proper management of all activities in their business for smooth
operations. It is very essential to follow all the principles of accounting following by every rule
and regulation in order to have adequate preparation of company's statements of finance which
shows profitability and sustainability of business (Ahmad, Ahmad and Papastathopoulos, 2019).
For the effective running and operations of small businesses it is required by a businessman to
develop some fine strategies in order to achieve high revenues and large sales in market. The
major aim of present report is to evaluate relevance of managing and running a small business.
For the preparation of present report Argos online retail delivery platform is considered who
operates their business as small partnership enterprise offering IT business with a specialization
of e-commerce. The report includes various elements of small business such as planning and
allocating required resources so to achieve organisations objective effectively along with
analysis of customer relationship management at small enterprises are involved. A cash flow,
budget, break even along with interpretation of company's financial statements are prepared.
Certain rules and legislations for a small business that are mandatory are mentioned in report.
TASK 1
Discuss the main considerations a small businesses or social enterprise needs to address when
planning and allocating resources
Planning and allocating company's resources is a tedious and crucial task for every
business upon which managers are required to pay their kind attention in order to have adequate
and proper allocation of necessary resources for different functions of organisation (Arjona-
Fuentes and et. al., 2019). In context to Argos online retail delivery platform the management
and partners are required to consider several related factors which are necessary in planning and
mobilising different resources for workings of their business. The different factors which play a
crucial role are mentioned below: Employees and their skills: Company's employees are those who perform various
business and operational activities and are recognised as most vital assets for every
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company (Buffa, Franch and Rizio, 2018). Different skills of firm’s employees Helps
Company in attaining its objectives in proper manner which brings competitive
advantage for the business in industry and market. The managers and partners of Argos
online retail delivery platform are required to consider their workforce as well as their
skills during planning or allocating necessary resources in order to have company's
development and success. Vision, mission and firms strategic objectives: It is very essential to set some vision and
mission by company's key personnel’s which are then communicated to firms employees
in order to stay on path towards achievement of its vision and mission. It is very
necessary to make employees familiar with firm’s objectives achievement of which they
are going to perform their tasks (Burgess, 2020). This allows company to obtain
employees trust along with effective results in enhancement of their performance towards
fulfilling their responsibility. Managers and partners of Argos online retail delivery
platform are asked to consider vision, mission and objective while having resource
planning and allocation in order to motivate, encourage business workforce to work with
greatest level of productivity. The time when employees do their tasks with highest level
of engagement it automatically increases quality in their work along with successful
achievement of business targets.
 Monetary Resources: Capital or finance is considered as the most vital resource for any
company in absence of which no business can perform their task or operations in
effective manner (Das and Mishra, 2019). During planning and allocating for monetary
resources it is required by partners of Argos online retail delivery platform to analyse
their financial position in context to know the availability of funds in company that are
sufficient or not to meet its working capital requirement. Partners or management team
can consider various financial statements such as income and expenditure account,
balance sheet, cash flow or other in order to analyse performance. Availability of
adequate funds assists company in managing and operating its activities in effective
manner.
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