MANAGING AND RUNNNING A SMALL BUSINESS INTRODUCTION
Added on 2021-01-02
18 Pages4196 Words288 Views
FinancePolitical Science
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MANAGING ANDRUNNING A SMALLBUSINESS
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Main consideration of small business or social enterprise needs to address when allocatingresources ................................................................................................................................1TASK 2............................................................................................................................................4P2. Different processes of customer relationship management in a small enterprise............4P3. Ways in which business entities can develop transnationally and its advantages as well asits disadvantages.....................................................................................................................5TASK 3............................................................................................................................................6P4. An annual itemised monthly cash flow forecast showing fixed and variable costs.........6P5. Way of break even analysis is applicable in JS Supermarket..........................................8P6. Interpretation on key financial statements for an organisation for contribution insuccessful management..........................................................................................................9TASK 4..........................................................................................................................................13P7. Key legislation and regulations which have major implications on small businesscompanies.............................................................................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15.......................................................................................................................................................16
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INTRODUCTION Small medium enterprises are independent and non subsidiary firms in which number ofemployees and their turnover is less as compared to to other business enterprises (Ali andBabiker, 2017). In this present report, the chosen organisation here is JS Supermarket which isoperating its business activities from London, UK. This report is based upon how small businessor social enterprise plan and allocates resources in order to achieve their aims and objectives. Inthis report, different process of customer relationship management, how small business candevelop transnationally and importance of break even analysis in different organisationalsituation have been discussed. The major key legislations and regulations that can implicateoverall performance of small medium enterprise has also been discussed. In this report, there arealso various techniques which can help small medium enterprises in managing their cash floweffectively and efficiently in a business environment.In this present report, the chosen organisation is JS Supermarket which is founded byRamchandran Jalatheepan in 2014. The company is established as a small medium enterprisesand operating its business activities in London. The chosen organisation is mainly dealing infood, beverages and grocery sectors in order to maximise their profitability. In this present case,the customer reach of JS Supermarket is going down, which leads in creating negative effect onoverall performance of business organisation in competitive business environment. In order toovercome from this situation organisation is developing an effective market plan to retain theirposition in a dynamic business environment. TASK 1P1 Main consideration of small business or social enterprise needs to address when allocatingresources In this present scenario, the UK government is continuously helping people in doingbusiness or opening a small medium enterprise in order to earn money. The major reason behindthis initiative is eviction of UK from European Union, this leads in improving their economiccondition at a global level (Chauma, 2017). Due to this initiative people are opening manybusiness stores and outlets in populated areas in order to achieve their goals and objectives. Inthis regard, it is essential for small medium enterprise to identify technological requirementbecause business environment is continuously changing in terms of technology. This will help1
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