Managing and Running a Small Business

MANAGING AND
RUNNING A SMALL
BUSINESS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
ACTIVITY 1...................................................................................................................................3
ACTIVITY 2.................................................................................................................................10
Cash Flow Forecast....................................................................................................................10
Break even analysis...................................................................................................................12
Contribution of key financial statements...................................................................................13
Key Legislation..........................................................................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Managing and running a small business is a very comprehensive task and involves
consideration of various financial and non- financial aspects that need to be considered in order
to complete different aspects that are related to the management of a small business (Ajekwe and
Ibiamke, 2019). Milk Train is a small ice- cream parlour that is located in London and serves
naturally flavoured and organically made ice- creams and other delicacies. The report will first
identify the resource allocation and planning activities which would then be followed by the
explanation and application of the customer relationship management process of the selected
business. Further, the financial aspect would be analysed by preparation of a cash flow forecast
for the company and then analysing the breakeven sales for Milk train. Lastly, this would then
include an analysis of the financial statements and the key legislative aspects of the business.
MAIN BODY
ACTIVITY 1
Planning and
allocating resources:
Milk train, London is one of the new ice cream bar company operating its
business into London highly gives importance to planning of business
management and resources allocation for constructive work and functional gaol
achievement. Milk train being small medium sized company functions with
fixed resources and strong planning to innovatively serve customers within
market segments where there are high preferences for large business objectives.
The ingredients which are used under ice cream and various products which are
an innovative service model of company to bring high end services for
customers and vivid market opportunity for larger market optimisation and
functional efficiency (Véron and et.al,2018).The capacity of milk train to bring
forward various innovative products and services for wide market share
customers who are vividly spread enables in proper allocation of resources and
constructional planning of various structures. Planning and allocating of
resources are highly correlated with each other based on their working patterns
and business ranking for gaining strong position among customers market share
and higher market value which enables to cater higher market position and large
goodwill factor. Milk train will look forward to best pricing strategies for
higher innovative marketing functions , attracting pricing among customers and
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various schemes to cater large crowd attention for long term business
optimisation. The resources will be planned among company services where
milk train functionally brings forward higher functional segments to attract
higher market composition onto which further development can be attained by
business perspective. Millk train company services will be programmed to keep
employee working skills higly advanced and serve them with best preferences
among products. The company aims to keep market targeted for longer term
and functionally operative towards bringing best services and functional growth
with high innovation funnel of creativity (Mascarenhas and Ruiz, 2019).
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