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MANAGING AND RUNNING A SMALL BUSINESS INTRODUCTION
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Added on 2020-11-23
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MANAGING AND RUNNING A SMALL BUSINESS INTRODUCTION 1 TASK 11 P1 Main considerations a small business or social enterprise needs 1 M1 Tools and techniques in a structured and analytical way 2 M2 Importance of planning and allocating objective resources 2 D1Critically analyse the application of appropriate resources to demonstrate 3 TASK 23 P2 Various processes of customer relationship management 3 P3 Small business can develop transnationally and benefits and drawbacks 4 M3 Elements of the customer relationship management process 5 M4 Potential
MANAGING AND RUNNING A SMALL BUSINESS INTRODUCTION
Added on 2020-11-23
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MANAGING AND RUNNINGA SMALL BUSINESS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Main considerations a small business or social enterprise needs..........................................1M1 Tools and techniques in a structured and analytical way.....................................................2M2 Importance of planning and allocating resources.................................................................2D1 Critically analyse the application of appropriate resources to demonstrate.........................3TASK 2............................................................................................................................................3P2 Various processes of customer relationship management.....................................................3P3 Small business can develop transnationally and benefits and drawbacks.............................4M3 Elements of the customer relationship management process..............................................5M4 Potential to develop transnational operations.......................................................................5D2 Process of customer relationship management.....................................................................6TASK 3............................................................................................................................................6P4 Annual itemised monthly cash flow forecast showing fixed and variable costs...................6P5 Break- even analysis..............................................................................................................9P6 Financial statements for an organisation..............................................................................10M5 Quantitative and analytical techniques...............................................................................11D3 Break even analysis and cash flow statement.....................................................................11TASK 4..........................................................................................................................................12P7 Legislation and regulations that have implications on small businesses.............................12M6 Implications of key legislation and regulations in an organisation....................................12D4 Regulations and legislations that impact on small business................................................12CONCLUSION..............................................................................................................................13REFERENCES .............................................................................................................................14
INTRODUCTIONMany small businesses are running in the economy of UK and having significantcontribution in development of nation. For them, it is required to create impactful strategies thataid to achieve target goals and objectives properly. These kind of activities can be beneficial forthem because they have limited resources that required to be utilized effectively. Small businessare privately owned organisations that have limited number of employees and less annualturnover. These organisation's running effectively in an economy by providing their qualityservices to target customers (Wynarczyk, Piperopoulos and McAdam, 2013). Small businessfirms provide their huge contribution regarding economy development by providing employmentservices and proper cash flow. This report is based on Oak Cash and Carry which is a smallgrocery wholesaler firm. This organisation was incorporated in the year of 2000. This reportincludes consideration of small business need, appropriate process of customer relationshipmanagement, development of transnationally and its advantages as well as disadvantages. At lastit include data representation of monthly cash flow, break even analysis, different financialstatements and also impact of Legislation and regulations on small business organisation. TASK 1P1 Main considerations a small business or social enterprise needsIn a economy, each and every organisation establish with a specific goal and objectivethat they wants to achieve properly. For this, they manage business activities properly to createpositive working environment for their workers. Oak Cash and Carry is small firm which isprovide their quality services to target customers on the bases of their requirement and need. Thisfirm implement their business process in simple way as pay and pick. For them it is required tocreate impactful strategy to getting higher competitive advantages from target market (Williams,2012). There are some other factors are determine below that requires to consider beforeplanning and allocating resources as - Future goals and objectives – For a enterprise, it is required to identify future objectivesand goals clearly. Through this, they can easily determine appropriate direction to theiremployees. Oak Cash and Carry is a small grocery wholesaler, so for them it is required toidentify their target market and audience who help them to getting desired growth and income.1
Main objective of organisation is to determine customer's need and demand to provide themquality services and products. This is help to build long term relation with audience.Financial resources management – This is one of the most important factor thatrequires to identify properly. In this process, financial manager and management of organisationanalyse their requirement need for appropriate fund. After this, they requires to identify financialsources that helps to provide sufficient funds (Smit and Watkins, 2012). This is a most importantaspect of a firm. Oak Cash and Carry is a small business organisation, so for them it is require tomanage financial stability properly. These kind of activities helps to provide severalopportunities to an organisation easily. Human resources – This is a functional approach of an organisation that helps inworkforce planning and operational management procedure. In this procedure human resourcesmanager aid to create effectiveness in firm by their working approaches. Main objective of thismanagement process is to maximise productivity and profitability of firm in proper manner. ForOak Cash and Carry, it is required to manage their business activities effectively that helps toimprove cost of production and employees performance. These functional approaches helps toachieve future objectives and goals of firm. M1 Tools and techniques in a structured and analytical wayFor a business organisation, it is required to analyse several tools and techniques thathelps to achieve target objectives and goals easily. For a small scale organisation it is required toanalyse effectiveness of their resources to utilize them properly. In this procedure, employees oforganisation provide their own contribution by providing quality services to their targetcustomers. There are different tools of Oak Cash and Carry are determine below as - Gantt chart – This is a graphical representation of firm that determine project scheduleof an organisation. It determine exact duration of an task that requires to accomplish them(Schaper and et. al., 2014). M2 Importance of planning and allocating resourcesIn Oak Cash and Carry, it is required to make appropriate planning and strategy toallocating resources properly. In small scale firm, number of resources are limited that requiresto utilize properly to getting desired outcomes. For this, they requires to enhance employee's skilland working approaches to create effectiveness in firm. Through this they can easily managercost of production and provide appropriate as well as quality services to target customer's. These2
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