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Managing and Running Small Business Enterprise : Assignment

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Added on  2020-07-23

Managing and Running Small Business Enterprise : Assignment

   Added on 2020-07-23

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MANAGING AND RUNNING A SBE
Managing and Running Small Business Enterprise : Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1 Main considerations a small business or social enterprise.....................................................1M1 Tools and techniques in a structured and analytical way.....................................................2M2 Importance of planning and allocating resources.................................................................2D1 Application of appropriate resources....................................................................................3TASK 2............................................................................................................................................3P2 Different processes of customer relationship management..................................................3P3 Small business can develop transnationally and determine benefits and drawbacks............4M3 & D2 Elements of customer relationship management process..........................................5M4 Potential to develop transnational operations.......................................................................5TASK 3 ...........................................................................................................................................6P4 Annual itemised monthly cash flow forecast showing fixed and variable costs...................6P5 Break- even analysis could be applied..................................................................................8P6 Financial statements for an organisation................................................................................9M5 Quantitative and analytical techniques...............................................................................10D3 Cash flow forecast and break-even analysis.......................................................................10TASK 4..........................................................................................................................................11P7 Legislation and regulations that have implications on small businesses.............................11M6 Implications of key legislation and regulations..................................................................11D4 Key legislation and regulations that affect small businesses..............................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13.......................................................................................................................................................13
Managing and Running Small Business Enterprise : Assignment_2
INTRODUCTIONSmall business is an independently owned and also operated through an individual. It isan internal part of total business of any country. The size of these business firms are small andunder this many activities are covered like for an instance retailing service, manufacturing,mining, wholesaling and many others. It is identified that the small businesses are largestsupervisors with minimum investment on the basis of job. The small business plays a necessaryrole in increasing an economy of country. Paramount is a small business firm and it deals in theretail sector and provides grocery products (Ali and Babiker, 2017). In this given report mentionsabout main considerations social enterprise and small business requires to develop planning aswell as allocate resources. It is necessary for organisations to follow all necessary regulation andlegislations in an effective manner. Various process of the consumer relationship managementfor small firm will also be discussed under this given report. TASK 1 P1 Main considerations a small business or social enterpriseUnder this, there are several factors which are available in this business environment andaffects functions of small firms. Generally these types of factor are come under macroenvironment and management has no control over them. On the other hand, firm can control allinternal or micro factors because they affect on business activities from outside of firm. At thetime of developing a better plan, it is essential for firm to consider all these two factors. It will behelpful in attaining the targets or objectives of firm with in specific period of time. Paramount isa small firm and it provides grocery items to consumers in exchange of money. Main objectiveof this business firm is to offer better quality of grocery products which can satisfy needs ofconsumers and develop healthy relationship with them (Bridge and O'Neill, 2012). With the helpof using effective resources such as staff members, finance, this organisation can achieve itsobjectives in better manner. In context to this, Paramount requires top be address several factorsbefore allocating effective resources:Human resource- It is an integral part of firm and also helpful in finishing everyactivities with in set time period. The main motive of this department is to develop better policiesor strategies and implement them at workplace. Lack of planning affect on products of businesssand products are not sell in effective way. This department provides training and development1
Managing and Running Small Business Enterprise : Assignment_3
to staff members in addition to increasing their abilities and core competencies. Through thisthey can perform well and try to achieve organisational objectives in better manner.Funds necessity- It is one of the most necessary resources to doing all business activitiesin a systematic manner. In context to this, it is a responsibility of manager to determinerequirements of finance through each department for carrying all activities in systematic manner.If funds will not be arranged in proper manner then in this case all departments of Paramountfirm will not able to perform all activities in better manner (Burns, 2016). As Paramountorganisation is small size firm and it does not have sufficient funds for perform all activities sothere is a requirement to this organisation to arrange and manage funds on the basis of activities.There is a requirement to this firm to interpret financial statements in order to understandregarding income, outflow, inflow, expenses etc. It gives better opportunities by developingpolicies to remove an unnecessary expenses. Vision, mission and objectives- Under this, there is more affect of vision, objectives andmission of firm related to develop various plans regarding various aspects as well as allocation ofdifferent resources on the basis of requirements of consumers. In context to Paramount firm, itsmain focus on make improvement in quality of goods as well as modern marketing relatedapplication techniques for improving sales. M1 Tools and techniques in a structured and analytical wayThere are several tools as well as techniques which aids in allocation of various resourcesof firm according to actual needs (Chauma, 2017). Some tools which are used throughParamount organisation given below:Gantt chart- It is a graphical presentation related to project schedule. This type of barchart shows begin and complete sated of many components of project which consists milestones,resources and tasks.Critical path analysis- It gives information regarding various paths which are required tofinish specific project in specific time period. It assess management of firm to allocate resourceswhose path takes longest duration. M2 Importance of planning and allocating resourcesSignificance of planning is related with resource allocation or effective planning. It ishelpful for Paramount organisation to chive its objectives. There are some importance ofplanning and allocating resources mention below:2
Managing and Running Small Business Enterprise : Assignment_4

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