Managing and Running a Small Business

This article discusses the considerations of small business or social enterprise needs to address when planning and allocating resources to achieve business objectives. It also evaluates different processes of customer relationship management for a small business or social enterprise and explains how a small business can develop transnationally and determine the benefits and drawbacks.

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Managing and Running a Small
Business

Evaluation of different processes of customer relationship management for a
small business or social enterprise.
Customer relationship management – This is the process of attracting
customers and delivering them kind of products and services so productivity and
profitability can be maintain effectively. To maintain good customer relationship
management there is required to maintain the good relation which helps to
attracts the customers and increase organisational profitability. For managing the
effective CRM value there is require and retaining the customers who buys
products and services.
Assessment of customer value - Customer value is important for
organisation where organisation needs to understand their customers and their
wants which can help to increase organisational performance. According to this,
management should set the effective pricing strategy and market research that
can help to fulfil the desire of customers and take right actions to attain the
business goals. In context to Cheshams Accountants Ltd, management
understand the needs of their customers regarding not managing profits and cost
decreases that make happy to clients and deliver kind of products and services.
This leads to influence of larger number of targeted customers and deliver best
quality of services.
Developing effective channels for customer communications – Customer
communication is the process of sharing ideas and information in order to inform
people regarding products and services. This is important for organization to
develop proper and effective channels for customer communication and maintain
the good performance of their business. The management of organization need to
get feedbacks from their customers so improvement can bring accordingly. In
context to Cheshams Accountants Ltd, different channels are used by
management such as Web self-services, IVR, mobile, newspapers and online
website that uses to inform and attracts people by communicating effectively.
Considerations of small business or social enterprise needs to address when
planning and allocating resources to achieve business objectives.
For organisation it is important that identify their resources which are available in
organisation and use them properly so business can run and attain the goals effectively. If
resources are utilised properly then it became easy for organisation to expand their business
by delivering best quality of products and services. Cheshams Accountants Ltd is small
business that is consulting to other business for using accounts and keeping records of
transaction that helps to take right business decisions. The service include Company
Registration, bookkeeping, payroll and NI, business accountancy, VAT, cash flow
projections, bank and HMRC representation, corporation tax and IT Services. The
descriptions of planning resources are as defined: Research aim and objectives
Premises and equipment – For running business and expanding them premises and
equipment are main resources for organisation which should be analysis by
management and deliver products and services accordingly. In context to Cheshams
Accountants Ltd, management should focus on their premises and equipment to
give consultant and running a business. Premises are used to establish a stable
office from where customer get products and services.
People and skills – This is important resources which are required for small
business and helps to attain the business goals. People are consider as staff and
customers who helps to start and keep continue their business. Staff and
management should have knowledge and skills that can be uses to accept the
challenges and risk in their organisation and increase the organisational
profitability. In context to Cheshams Accountants Ltd, accountant and their skills
are considered as important resources of their organisation who are delivering better
quality of accountancy services and maintain the good performance.
The business Plan – This is also important resources of organisation which states
that a person should have a strategic business plan by involving vision, goals and
objectives. in consideration of business plan there may be need of overdraft and
bank loan, project management techniques etc. that can help to accomplish the
goals. In Cheshams Accountants Ltd, management is required to formulate a proper
business plan for the purpose of growing and managing resources appropriately in
effective form that helps to accomplish the business objectives.

Drawbacks of transactional sales are in context to organisation are as defined:
Financial risk - It is concerned with the financial risk because to establish
small business and using transactional sales there is chances to increase the
financial risk. Cheshams Accountants Ltd is providing different types of consulting
services to clients that increases financial risk and reduces profitability.
Lengthy process – This is another drawback of transactional sales where it
become challenges for organisation to use this process. This is time consuming
process because it does not involve any new idea and innovation to run a business
and increase sales.
E-mail and digital marketing keeps strong relationship – This is another part of
maintaining communication process in which management are using e-mails and
digital marketing for the purpose of maintaining strong relationship. As customer
relationship is highly important for organisation where managers are required to
use e-mails and digital marketing that help to fulfil customers demand and maintain
good organisational performance. It has suggested to Cheshams Accountants Ltd to
use emails and digital marketing for the purpose of maintaining good relationships
and attracts customers to increase the organisational profitability.
Therefore, by using such process and creating customer value Cheshams
Accountants Ltd can maintain good customer relationship management. This
organisation is maintaining good relationship by offering different services such as
The service include Company Registration, bookkeeping, payroll and NI, business
accountancy, VAT, cash flow projections, bank and HMRC representation,
corporation tax and IT Services. These all are important services which are
required to run a business so management are providing a proper consultant to its
clients how they can reduce tax and increase profitability that helps to increase
profitability.
Explanation of how a small business can develop transnationally and
determine the benefits and drawbacks.
Transactional sales: This is the process of increasing sales and profitability by using
different channels and resources which are used to maintain the productivity
continuously. Small businesses are those which have started with small amount and
resources in order to fill the needs and wants of local community needs and wants. With
the help of transactional sales, Cheshams Accountants Ltd is selling or providing
consulting services to its targeted clients that help to manage the organisational
performance and increase profitability. Transactional selling is a common method of
sales in which a sales representative looking out prospects, develops a relationship and
try to close a sale. In context to Cheshams Accountants Ltd are using transaction sale in
order to run a business by providing consultancy services.
Internationalisation – This is the process of running a small business in to other nation
that is called internationalisation. With the help of this process a business can be grow
effectively by entering in to international market. Cheshams Accountants Ltd is small
size business in Hounslow west London that can uses this process to go in international
level by expanding the ir business activities.
This maximize the profits of organisation by providing consulting services. The benefits
of transactional sales are as defined:
Independence – Cheshams Accountants Ltd is giving independence to staff
who are working in organisation that helps to take the right business decisions. The
management and members of such organisation are acknowledging that they will
provide accurate and appropriate information to its clients.
Lifestyle - Transactional sales helps Cheshams Accountants Ltd to provide a
good assistance and lifestyle to other business which increases organisational
productivity.
Brand recognition – By using transactional sale a high level of brand
recognition can be attained by performing operations effectively.