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Managing and Running a Small Business - Doc

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Added on  2020-10-05

Managing and Running a Small Business - Doc

   Added on 2020-10-05

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MANAGING ANDRUNNING A SMALLBUSINESS
Managing and Running a Small Business - Doc_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1) Main considerations a small business or social enterprise needs when planning andallocating resources................................................................................................................1TASK 2............................................................................................................................................3P2 Explain and evaluate different processes of customer relationship management for a smallbusiness or social enterprise...................................................................................................3P3) Way of small business can develop transnationally benefits and drawbacks..................4TASK 3............................................................................................................................................5P4 Produce an annual itemised monthly cash flow forecast showing fixed and variable costsset against income for a specific organisation........................................................................5P5 Explain how break- even analysis could be applied to an organisational situation..........8P6) Interpretation on key financial statements for an organisation for contribution insuccessful management..........................................................................................................9TASK 4..........................................................................................................................................14P7 Key legislation and regulations which have major implications on small businesscompanies.............................................................................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
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Managing and Running a Small Business - Doc_3
INTRODUCTIONBeing a business owner, an entrepreneur needs to develop various intellectual ideasthrough which organisation can run in efficient manner. Employers are required to plan activitiesof business which include identification of resources, capital utilisation and management, jobspecification and more. In addition to this, they should set a proper vision, mission andobjectives of company so that people associated with them can understand and support inachievement the same. Thus, this assignment focuses more on how entrepreneurs transfer theiridea into business and develop effective relationship with consumers (Durst, Yip and Lee, 2015).Along with this, it also showcases some business activities like planning and allocatingoperational resources, forecasting & budgeting, interpreting key financial statements, recruitment& selection of employees etc. In this regard, Wiser Company is taken in report. It is aconsultancy company of UK which specialises in giving recruitment to young people. This firmis led by Fin O'Kane and situated in London. TASK 1P1) Main considerations a small business or social enterprise needs when planning and allocatingresourcesAs in today's modern world, every entrepreneur wants to open outlet in highly populatedarea so it requires to develop new and innovative ideas first. It would help them in openingbusiness and gain attention of customers towards products or services in an efficient manner. Instarting process, such firms are generally established on small scale but by developing innovativeideas they rapidly expand their business in various locations. In general, main motive of suchcompanies is to earn higher profitability (El-Rafei and et. al., 2017). This would aid a nation inimproving its economical condition too. Therefore, Government support entrepreneurs inlaunching small business by providing them sufficient funds on reasonable rate of interest. In thisregard, Wiser is a small consultancy company in United Kingdom which provide job to youngpeople. It has provided a calmly environment where creativity meets recruitment for building andtransforming employer brands. Various partners of world's best brands are associated with thisfirm such as Worldpay, Just Eat, Expedia, Sky Betting and Gaming etc. In order to expand business and increase growth of company, entrepreneurs of this firmare required to develop a proper plan. In this regard for developing such a plan and planning or1
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