Managing and Running a Small Business

MANAGING AND
RUNNING A SMALL
BUSINESS
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INTRODUCTION
Small and medium enterprises are defined as the entity which are working in independent
manner and associated with mediocre turnover and number of employees (Altinay, Sigala and
Waligo, 2016). This report is prepared in order to understand all the major concepts of small
business in the context of JS Supermarket. JS Supermarket is running a small business in UK.
For achieving business objectives social enterprise plan is to be undertaken by businesses. Along
with this the report is consisting of customer relationship management plan which is helpful for
business to manage their customer in prominent manner. JS supermarket was founded by JS
supermarket was found by Ramchandran Jalatheepan in the year of 2014 and the company is
performing business activities in retailing of grocery items.
TASK 1
P1
UK is highly supportive for small businesses as these are providing assistance to the
economy to develop. There are various aspects which are required to be undertaken by small
business in order to allocate resources and to satisfy needs of their potential and existing
customers as well. In the context of JS supermarket they are managing their resources in optimal
manner so as to deal with their objectives and attaining them in early manner:
(a) Financial resources:
This is one of the significant factor in which assistance can be provided to the business in
order to attain high succession and efficacy. These resources are having capability of conveying
financial assistance to the business so that to provide grip to operations. JS supermarket is a
small business entity so for them the major element is to gather funds by banks or other investors
so that to manage their business functions (Burns, 2016).
(b) Human Resource
This resource is assisting business to execute prepared plans in distinct manner so that
aims can be accomplished. In the context of JS supermarket the company is required to invest in
their human capital as being a small business employees are regarded as their major asset which
may help them to run business in effective manner. Along with this human resource department
is introducing robust strategies so as to make path of goal achievement.
(c) Goal, vision and target
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For attaining success goals are required to be set in transparent manner. So in context of JS
supermarket the management is setting and conveying objectives in clear manner so that to avoid
any confusion within attaining the same. The major goal of the company is to target those people
who are prone to use new things (Ewert and Maggetti, 2016).
M1
Gantt chart: A Gantt chart is a production tool which is used by production manager in
order to maintain record of schedule of assigned project. This is a tool which is used in project
management and to allocate resources to varied situations in semantic manner. JS supermarket
may use this tool in order to analyse level of completion of tasks.
Critical path analysis: With the help of this tool project activities can be scheduled by
which proper evaluation can be made. By using this tool JS supermarket select their requisite
path in order to attain effectiveness within project.
M2
Allocation of resources is essential for the business so as to attain their objectives in
prominent manner. Planning is essential for setting goals along with providing right amount of
time within all activities. On the other hand resource planning is helpful in building transparency
due to which maximum capacity can be attained. In the JS supermarket by allocating resources in
prominent manner visibility can be provided to business which leads the company to attain their
aims in early manner.
D1
Allotments of appropriate resources are helpful for the business to attain their objective in
primal manner. This is an essential task for the business in order to manage resources and their
application in suitable manner by which operational efficacy can be attained by business. When
operational activities are executed in proper manner these can be aligned with organisational
goals in clear manner.
TASK 2
P2
Customer relationship management is considered as one of the significant aspect in
attaining growth and development within business. Customer relationship management is
defined as the approach which enables the organisation to establish effective communication by
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