Managing and Running a Small Business, Hospitality Start-Up

MANAGING AND RUNNING A
SMALL BUSINESS,
HOSPITALITY START-UP

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
P 1 The main considerations a small business or social enterprise needs to address when
planning and allocating resources to achieve business objectives...............................................3
P2 Various Process of customer relation management for social and small enterprises.............4
P3 How small business can develop transitionally and its pros and cons...................................5
P4 Monthly cash flow statement including fixed and variable cost............................................7
P5 How break even analysis is used in a situation......................................................................9
P6 Key financial statement and how it contribute in successful management..........................10
P7 Key legislations as well as regulations that have various implications on small as well as
social enterprises........................................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
This report includes all the details that are necessary for the stage of start up to manage the
operations of the business so that it can achieve success in the market. This report contains
assessment of issues such as planning and allocating resources to achieve business objectives.
Different processes of customer relationship management for a small business or social
enterprise. Small business can develop transnational and determine the benefits and drawbacks.
Annual itemized monthly cash flow forecast, showing fixed and variable costs set against income
for a specific organization. Break- even analysis could be applied to an organizational situation.
financial statements for an organization in relation to how they contribute to the successful
management of the organization. Legislation and regulations that have implications on small
businesses or social enterprises (Gregg and Lodato, 2017).
MAIN BODY
P 1 The main considerations a small business or social enterprise needs to address when planning
and allocating resources to achieve business objectives
Determine the Scope of the Project-
It is important that duration of project is assessed and match it up with its scope so that
resources allocated are right (Karadağ, 2018). With the scope of the project company will be
able to assess that how much investment of resources will be viable for it.
Identify the Resources-
This aspect is concerned with making sure that resources such as personnel, equipment
and venues where it will take place are available with the company or not so that they can keep
up with it.
Evaluate the Human Resources-
With the help of this aspect the company will be able to list the role and responsibilities
of every employee so that suitable and interested employees are assigned the area they can excel
in and achieve the goals of the company (Chung and D’Annunzio-Green, 2018).
Determine the priority of the project-
It is necessary aspect if the company deals with more than one project at a time and are
capable of multi task then it will be helpful to prioritize the project. It is necessary that company
focuses on those than needs to be delivered first and on the basis of that they can allocate the
resources.

Resource Allocation Plan-
This plan must involve all the information that is decided till now and the details covered
must be such as responsibilities of the employees, specifications of the tool, purpose of the
project served and the date before everything needs to be finished. Also it is important to review
the plan so that anything left can be added to it.
Prepare for Emergencies-
It is necessary that company calculates the uncertain events such as sick leaves of
employees, manage their stress. Also the strength of equipment or its failure between the task if
this happens company will have to face with another challenge (Ahmad, Bakar, A.R.A. and
Ahmad, 2018). That is why it is necessary to have a contingency or backup plan so that any
uncertainties which affect the operations can be handled.
Make sure that team is aware of it-
Before the allocation of resources it is necessary that manager of the company consults
with the employees and they are aware of the decision taken by the company. if the company sets
the time of the project on the basis of their speed of work and hire equipment that is appropriate
for the work and for them will help them to allocate it in a better way (Mxunyelwa and Vallabh,
2017).
P2 Various Process of customer relation management for social and small enterprises
Consumer Relationship management focuses on the way where firms tries to build as well
as maintain a strong type of relationship with their consumers through improving their
experiences. It is consider as one of the key regarding business success. A good consumer
relationship enables consumers enables consumer to retain with the firm that improves brand as
well as profitability of an entity (Karadağ, 2018). There are various process and ways through
which social and small entity can build as well as maintain CRM involves.
Generating brand awareness- It is vital for attracting people for firms to make them aware
regarding effectiveness as well as features of products and services of the brand. If people do not
have knowledge regarding products as well as effectiveness of some products they do not prefer
buying from such unknown brand products. So regarding to this step social as well as small
business needs to generate brand awareness and performing market awareness.
Acquiring leads- When the consumers aware regarding the effectiveness of products as well as
services then the firm needs to boosts them to engaged with brand through asking them they can