Managing and Running a Small Business Assignment - Talent Plus
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Added on 2021-01-01
Managing and Running a Small Business Assignment - Talent Plus
Added on 2021-01-01
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Managing and Running aSmall Business
ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Main considerations of social enterprise require to plan and allocating resources................1TASK 2............................................................................................................................................2P2 Different process of customer relationship management for social enterprise......................2TASK 3............................................................................................................................................5P4 Prepare annual itemised monthly cash flow showing variable and fixed costs.....................5P5 Explain break even point.......................................................................................................7P6 Interpret key financial statements of an company.................................................................8TASK 4............................................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONSmall business is an integral part of firms that gave its contribution in economy ofcountry. It is employer responsibility to utilise funds, material and manpower efficiently.Employees are working with the organisation which provides the employment opportunity topeople for enhancing their skills and knowledge. Present report is based on Talent Plus which issmall scale firm providing recruitment and consultancy services to clients. Firm has limitedresources which require to be used in such manner that adequate amount profit is generated bybusinessperson (Bridge and O'Neill, 2012). This assignment defines considerations whichrequire small and social enterprises require to follow while designing strategies and policies.Government legislations and rules are considered by employer to make appropriate decisions andjudgements for company. It is management duty acknowledge process of constructing CRM bymaintaining skilled and competent members. Along this, they even frame cash flow statementand use break-even analysis to handle situations properly. TASK 1P1 Main considerations of social enterprise require to plan and allocating resourcesSmall and social companies have limited capital which require to be used efficiently byentrepreneur. It is necessary that top personnel formulate plan and implement appropriatetechnologies in system and distribute resources in different departments to execute activities ineffective manner. Talent Plus is small firm which provides recruitment and consultancy servicesto people. For this, entrepreneur require to utilise resources and frame program in such mannerthat appropriate business activities are executed in system. Along this, manger even need toassess factors which impact on growth and success of firm (Crane and Matten, 2016). Thus, theymake changes in system and strategies to maintain their position and goodwill in market. Theseare various considerations which businessperson consider are as follows:Financial resources: This aspect defines that small firms have limited funds whichrequire to be used properly. An entrepreneur require to have sufficient financial resources toconduct activities effectively and make success with time. It is necessary that adequate amountof capital is available with head of Talent Plus. This help top personnel to implement appropriateequipments and assets in firm to provide recruitment services to clients. Along this, they evenmaintain financial statements that is cash flow statement, balance sheet and profit & loss account1
to have complete information about income and expenses of company. These help managementto make appropriate interpretations and decisions which are beneficial for firm. Vision, goals and objectives: Each and every organisation formulate mission statementwhich defines goals, vision and objectives. This help businessperson to direct members andmake them feel connected with firm. Management of Talent Plus construct framework whichdefines objectives and goals to influence employees and make them function in defined manner.Small scale firms goal is to utilise resources and gain adequate revenue for maintaining itsposition in market. Employees and their skills: It is essential that management have adequate workforcewhich help them to execute activities and achieve objectives. Employer responsibility is toconduct staffing, training and development practices, so that organisation have skilled andcompetent members (Donnelly and et. al., 2015). Talent Plus is small firm which providesrecruitment consultancy to different firms and individuals. For this, employer require to havetalented people which are able to provide appropriate recruitment consultancy to people. Thus, employer require to frame appropriate vision, mission, goals and objectives todirect members and make them perform tasks effectively. Talent plus is small scale firm whichhave adequate capital to use adequate technologies in system to provide recruitment services topeople. Along this, manager have skilled staff which provide quality services to clients. TASK 2P2 Different process of customer relationship management for social enterpriseCustomer relationship management: This aspect define and practices and strategies whichare followed by top personnel, to maintain connection with buyers by providing them appropriatefacilities. It is essential that adequate technologies and equipments are used by firms tocommunicate and provide information to people about products and services. It is essential thatsmall firms provide quality items and services to customers to sustain reputation of firm inmarket (Drucker, 2012). Along this, management even require to use appropriate techniques tocommunicate and maintain relations with customers. Telephone and email are tools which helpTalent Plus to provide information to people about services and attract them to avail facilities tocomplete their demands. Thus, employer is able to enhance sales and generate good amount ofprofit from business. 2
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