Managing and Running a Small Business - Report

Added on - 21 Jul 2020

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Managing andRunning a SmallBusiness
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Consideration of small and social business to achieve objectives.........................................1M1 Several tools and techniques in structured ways to plan resources......................................2M2 Importance of allocating and planning resources.................................................................2D1 Critical analysis the application of appropriate resources.....................................................2TASK 2............................................................................................................................................3P2 Several process of clients relationship management.............................................................3P3 Small enterprise can develop transnational and identify benefits as well as drawback.........4M3 Factor of customer relationship management process..........................................................5M4 Transnational operations activities that are used in internationalisation model...................5D2 Evaluating buyers relationship management process in all stage.........................................6TASK3.............................................................................................................................................6P4 Annual itemised monthly cash flow forecasting which are shows fixed and variable cost...6P5 Break-even analysis has apply in an organisation.................................................................9P6 Key financial statements......................................................................................................10M5 Quantitative as well as Analytical techniques to provide detail about break-even and cashflow...........................................................................................................................................11D3 Critical evaluation of key financial statement.....................................................................11TASK 4..........................................................................................................................................11P7 Important legislation and regulation implemented in small scale organisation...................11M6 Implications of key legislation...........................................................................................12D4 Key regulations affected on small business.......................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONManagement can be define as a process of controlling all business activities as well aspeople with in an organisation in an effective manner. Through this, company are capable toachieve goals and objectives in limited period of time appropriate ways thus help to gain longrun sustainability at market place. In this report select Ashtons in order to analysis small businessmanagement effectively. It was established in the year of 2005 by Steve, Kristian, Sam and Ben.Ashtons is a estate company which are provide facilities related to house rent, buy, sell and manymore other services (Burns, 2016). Through this, they are provide high class services withinnovative ideas which help to build positive brand image in client's mind appropriately. In thisassignment covers main consideration of small enterprise need to address allocating and planningresources and evaluate different process of buyers relationship management. It also includessmall business develop transactionally benefits and drawbacks.TASK 1P1 Consideration of small and social business to achieve objectivesAshtons is a estate organisation which are completing around 1000 transaction itsincludes residential sales as well as letting, land acquisitions and new houses. Management of thecompany has develop strategies related to training program which enhance workers professionalskills and experience as well as offer them financial help when employees needed. Through this,organisation are able to manage, control all staff members that help to achieve goals and longterm sustainability (Crane and Matten, 2016). Administration of the company has implementedinnovative ideas at work place to produce high quality differentiated goods and services thusprovide competitive benefits as compare to their competitors in the same industry.There are fewassessments which are defined as follows:Assessment of planning resourcesAs an employer, it is a responsibility to deliver the desired work to assessing the taskrequirement and projects deadlines. Few assessments are required to manage and organisefunctions operations of small scale businesses.Employees and skills: Within organisations, satisfied and skilled employee is veryimportant to run enterprise activities effectively in long run. So that, management has developaction plan to enhance workers performance, productivity and achieve their target in limited1
period of time. It is one of the most important resources for any firm which are divided accordingto role, responsibilities at work place.Assessing the business plansEvaluation of objectives and key requirements of business helps to set the aim andobjectives of business. It can be determined as follows;Vision, mission, goals and objectives: Owner of the company has set vision, mission andmanagement has develop short or long term goals as well as objectives. Through this activities,they know the path through which whole business activities should be done effectively andorganisation can achieve their mission appropriately. Enterprise development and success arehighly depend on these things for working hard to achieve them in given time frame.Assessment of financial requirementFinancial resources: In current market environment, there are several kind of financialresources which are available according to the need of company. Companies needs to select mostappropriate method to arrange fund that help to run entire enterprise activities significantly(Donnelly and et. al., 2015). Some important sources of fund are banks loan, angel investors,financial institutions, over draft and many more.M1 Several tools and techniques in structured ways to plan resourcesManagement of Ashtons has used two method Gantt charts and Critical path analysis ofproject management techniques in order to allocating resources in appropriate ways which helpto run business activities effectively. These both tools are explain as follows:Gantt Chart: In this process firm are analysis time period of completion of projectactivities. Each task has assigned with time according to requirement of work and make fullproject plan to run entire program effectively. Through this firm are able to achieve goals inlimited period of time thus help to build strong brand image at market place.Critical path analysis: Project manager has used critical path technique to find out mostbest suitable path for completing program. In this, they analyse shortest path to completing eachtask in given time frame appropriately, by which organisation are capable to complete work ontime and take advantage of save time, money, efforts and other resources (Frese, Hass andFriedrich, 2016). By implementing this strategies enterprise are optimum utilise availableresources that help to gain economic of scale.2
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