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Managing and running a small business enterprise INTRODUCTION 1 TASK 11 P1 Major considerations of social enterprise during planning to achieve business objectives

   

Added on  2020-06-03

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Managing andrunning a smallbusiness enterprise
Managing and running a small business enterprise INTRODUCTION 1 TASK 11 P1 Major considerations of social enterprise during planning to achieve business objectives_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Major considerations of social enterprise during planning to achieve business objectives...1M1 Allocate resources in an organisation...................................................................................3M2 Significance of allocating and planning resources to achieve objectives.............................3D1 Application of resources to indicate link between achievement of business objectives andallocation of resources.................................................................................................................3TASK 2............................................................................................................................................3P2 Various process of customer relationship management.........................................................3P3 Development of a small business enterprise transnationally.................................................5M3 Factors of customer relationship management process........................................................5M4 Development of transactional operations.............................................................................6D2 Customer relationship management process.........................................................................6TASK 3............................................................................................................................................6P4 Monthly cash flow showing fixed and variable cost.............................................................6P5 Application of break even analysis........................................................................................8P6 Contribution of key financial statement in management of organisation..............................9M5 Analytical and quantitative techniques to provide break even analysis.............................10D3 Cash flow and break even analysis.....................................................................................10TASK 4..........................................................................................................................................10P7 Key regulations and legislation that have implication on small business enterprise...........10M6 Implications of regulations in organisation........................................................................11D4 Key regulations that impact on small businesses................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
Managing and running a small business enterprise INTRODUCTION 1 TASK 11 P1 Major considerations of social enterprise during planning to achieve business objectives_2

INTRODUCTIONSmall business enterprise refers to those businesses that are run by an owner and have asmall market share. Classification of these type of enterprises can be done on the basis ofemployee's work, overall turnover and assets the firm has. These type of enterprises play a bigrole in economic development and growth of a nation (Drucker, 2012). This providesemployment to local people of the nation, manufactures and offers innovative goods toconsumers for satisfying their needs. Like large organisation, it is very important for small firmsto formulate and implement effective strategy for achieving set goals. With effective strategy andinnovative ideas, these organisations give a tough competition to large business enterprises.Rowlinson Knitwear, a small business firm that offers corporate and school wear, based inUnited Kingdom is considered under this report for study. Major consideration that requires to beaddressed during allocation of resources for reaching end goals and objectives is mentioned inthis report. Further, various processes that can be used by social enterprises for CustomerRelationship Management as well as benefits and drawbacks of transnational business is alsoincluded in this. Along with this, various legislations that have an implications on socialenterprises are all detailed in this. TASK 1P1 Major considerations of social enterprise during planning to achieve business objectivesSmall business operates its operations on a very basic level but still, various factors arethere that impact on its activities and affect its profitability. For reaching set goals, it is veryessential to identify the elements and consider the same. Rowlinson Knitwear is a smallmanufacturing firm of clothes. School wear and clothes for corporate people are manufacturedby the firm. Due to operating on a small level, company do not have adequate amount ofresources to offer its clothes directly to customer (Bridge and O'Neill, 2012). In this context, thefirm is required to take support of distributor and retailer for supplying its products to finalconsumers. One of the main focus of enterprise is to manufacture quality clothes at affordableprices and offer it to end customers at lower prices. For running business in an effective way andto achieve its business objectives, various factors are there that required to be considered by themanagement. Major factors that should be considered while planning for business process andfuture actions can be understood by the points given as follows:1
Managing and running a small business enterprise INTRODUCTION 1 TASK 11 P1 Major considerations of social enterprise during planning to achieve business objectives_3

Financial resources: Funds are known as one of the most important resources of anenterprise. Without this, a company cannot survive in market. Adequate amount of fundsensure effective execution of business activities and provide better results to company(Schaper and et. al., 2014). On the opposite of this, lack of financial resources increasedelays of commercial activities and at the same time decrease effectiveness of businessprocess. Before planning for its business operations, Rowlinson Knitwear requires toanalyse its financial reports and accounts such as balance sheet, cash flow statement andP&L. This makes the manager inform about the funds available to firm and highlight thefinancial capability of company. With this, company can plan its future actions andmanager can formulate a better business plan. Vision, objectives and goals: Vision is known as the state in which enterprise wants tosee itself after five years. Set the objectives, goals and vision is very important for anenterprise (Burns, 2016). One of the main benefit of this is that it makes the managerinform about where the firm want to go and what the company wants to achieve. Further,this support and direct employees in perform their roles and responsibilities. In additionto this, goals and objectives indicate the capability of entity. Goal of Rowlinson Knitwearis to produce good quality clothes and offer the same to its target customers at affordableprices. For this, enterprise requires to focus more on its production process and requiresto use the effective methods and techniques. Workers and their skills: Employees play a significant role in an enterprise. They are theone who perform various roles at workplace and support entity in reach its set goals.Employees and their skills are known as one of the element that requires to be consideredby manager during planning process and while formulating business plans. When a firmhas skilled workforce, then it support entity in executing all business operations in aneffective way (Weske, 2012). Lack of employee’s knowledge creates delays incompletion of business operations. In this case, proper training and developmentprogrammes should be conducted for staff members to develop their skills and enhancetheir knowledge. In this way, Rowlinson Knitwear can achieve its set goals andobjectives. 2
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