Managing and Running a Small Business

MANAGING AND RUNNING A SMALL BUSINESS
MANAGING AND RUNNING A
SMALL BUSINESS
Management of small business helps in better allocation, utilisation of resources for future
growth and success of enterprise.
 Tourism and hospitality industry is growing at fast stage therefore many people in UK are
planning to start their own enterprise in industry in order to earn specific amount of
profitability.
 Verdant leisure that is small company in hospitality industry of UK operates to delivered best
customers experienced for survival of firm in competitive market.
 The report has covered about the way small businesses arrange and allocate resources for
achievement of business objectives.
 It also evaluates about customers relationship management process for small business so that
more profit can be earned.
 Key financial statements such as cash flow forecast, budget and break even points are
prepared to know the way they contributed in effective achievement of company goals. At
last it discuss about impact of key legislation on small business.
 At last it discuss about impact of key legislation on small business.

Identification of main consideration for small business at time
of planning and allocating resources for achievement of goals
Top management have to consider some of the factors while
planning and allocation of resources in order to get best result. Therefore
there are various consideration or factors which have been consider by
verdant leisure while planning and allocation of resources can be
illustrated as below:
Scope of project: Manager of verdant leisure while planning and
allocation of resources have defined and identify scope of project so that
sufficient resources need can be easily estimated for effective operation of
business (Freeman and Parmar, 2017). Project scope clearly explained
manager about its respective goals by including information such as main
objectives, task that need to be performed, deadlines so that better
strategies can be formulated for arrangement of resources and growth and
success of enterprise.
Resources those are required necessarily: The manager of firm
has also analysis total resources that will be required to perform
specific task so that no delay can be caused in delivery of products
and services. Verdant leisure manager have analysis current
availability of resources and future requirements while planning
and allocation for better customer satisfaction.
Evaluation of Human resources: It has also
evaluated types of skills and knowledge in required
within employees so that they can be hired for
performance of different task and achievement of
objectives. Manager of verdant leisure through
preparing digital organisation chart have decided
roles and responsibilities that need to be performed by
each individual while working in enterprise.
Preparation for Emergence: There are various
uncertain events which impact of allocation and
planning of resources therefore verdant manager have
prepared in advance about uncertain situation so that
services can be delivered to customers within limited
time (Yu, 2016).
Importance of planning and allocation for organisation
It can be stated that planning and allocation of
resources are necessary for organisation as it helps in boosting
productivity of firm. Save lot of time, money and efforts of
individual within verdant leisure as each individual is aware about
task that need to be performed for growth and success of
organisation (Beugré, 2016). Company through planning and
allocation can easily meet external changes of environment and
get competitive positioning in market. Therefore is can be stated
that planning and allocation of resources is important for firm
because it helps in optimum utilisation of resources and better
services to customers.
Different tool and techniques used in structured and allocation of
resources
Different tool and techniques that were used by verdant leisure
for structure and allocation of resources within firm can be stated as:
Tree Diagram: Verdant leisure manager by using tree diagram have
systematically assigned roles and responsibilities need to be performed by
employee within firm. Complex process of firm is divided into small parts
so that individual can easily know about its respective responsibilities
within firm.
Interrelationship diagram: It helps employees of verdant leisure to
know about their interrelationship with each others so that task can be
completed within limited time frame. It contributed in effective
coordination of individual efforts towards organisational goals.

Importance of planning and allocation for organisation
It can be stated that planning and allocation of resources
are necessary for organisation as it helps in boosting productivity
of firm. Save lot of time, money and efforts of individual within
verdant leisure as each individual is aware about task that need to
be performed for growth and success of organisation (Beugré,
2016). Company through planning and allocation can easily meet
external changes of environment and get competitive positioning
in market. Therefore is can be stated that planning and allocation
of resources is important for firm because it helps in optimum
utilisation of resources and better services to customers.
Activity 1- Preparing a Factsheet on Resource PlanningActivity 2 – Preparing a Factsheet on CRM and Transnational Operations
Evaluates different process of customers relationship
management for business
Customers are most important for firm as it helps in earning profitability
and market share for purpose which it has been established and operated in
industry. There are several stages or process elements involved in customers
relationship management which have been followed by manager of verdant
leisure for better customers experienced. Such as:
Identification of needs: It can be stated that Manager of verdant leisure
have identified needs and wants of each individual through conducting
market research so that effective strategies can be formulated for satisfaction
of customers requirements. Marketing researched helps its to know about
recent trends and innovation in technology, customers requirements so that
needs of customers can be meet in best possible manner (Puhan, 2019).
Verdant leisure in order to maintain strong relationship with customers
adopt to respective changes in their taste and preference for effective
satisfaction of their requirements.
Target: The second process that is followed by manager of Verdant leisure
is target of specific customers for providing its products and services.
Company have planned to target people that are interested in visiting
destination with qualitative or limited services at affordable prices for
spending their holidays. Effective targeting strategy set by verdant leisure
marketing manager helps in formulating of better strategies and fulfil of
customers’ needs.
Sells: There are various promotions offers that are used by
marketing manager of verdant leisure to influenced
customers to select specific services of company in order
to fulfil their respective requirements. Company have
make use of digital media to provide sufficient
information about its facilities and prices to diverse
individual so that they can make right decision to select
company services as compared to other competitors in
market.
Services: It is the last and most important element as well
as process that help verdant leisure to retained customers
loyalty and satisfaction for longer period of time.
Company have always provided better and qualitative
services to customers for satisfaction of their requirements
beyond their expectancy (Wilburn and Wilburn, 2018).
Therefore it can be stated that better services contributed
in maintaining long term relationship with customers.
Benefits and drawbacks of small business developing into
transnational space
Verdant leisure by expanding into international business segment
will be able to develop wider synergy of effective marketing position and
to generate wider synergy of innovation among consumers market share
through which new end goals can be developed further. Verdant Leisure
will have wide opportunities for gaining wider consumer market segment
which will be spread into international customer market share along with
high new end goals and profitable working opportunities. Benefits are:
Higher advantages for reaching to large customer segments: Verdant
leisure will be able to reach international customers and wider business
scenario working opportunities by working towards new goals, into
international countries which will open up door for new profits and
goodwill development among business horizons. Verdant Leisure will be
able to bring on new marketing strategies through composed strong
functional ends which will further add on keen synergy of innovation and
developed gaols through which horizons are expanded within international
levels.
Large functional goodwill development: Verdant Leisure will be able to
functionally enhance goodwill within new grounds for gaining new scope
of consumers where innovation will also be high along with keen synergy
of marketing. Goodwill which is the most important base for gaining on
new levels of progression will be able to potentially enhance with wide
competitive paradigms through which revenue will also be able to
increase. Verdant leisure will be able to leverage continuous efficiency
within international market scope where digital world is large and
strongly focused to bring on new rational profit parameters at higher
business ends.
Drawbacks are as follows:
Higher investment demanded: The transnational business
expansion will be demanding for higher financial investments by
Verdant Leisure under which it can be understood that company
shall be at higher risk as capital expenditure will be increased
onto new levels. Company managers have to propagate new
levels of competitive strength for gaining new synergy of
efficiency and to gain wider strong financial profits and outputs
though the various inputs which are programmed as per business
goals. The company has to strategically plan on business
investment for producing effective business decisions into
international goals and countries where there are wide competitive
levels present also.
Dynamic external factors: The external factors compose risk for
bringing on wider business decisions through which new
developed market position will be programmed, where there are
vast competitive factors also. Dynamic working environment
imposes huge risk for verdant leisure for bringing on new
marketing synergy through which strong position can be
developed as per new standards which will flexibly bring on
higher demand for strategic development and also to bring on new
synergy of innovation. The competitive hospitality industry holds
wide factors of uncertain business scenario where there are
various new brands coming up and also there are various new
synergy of strength demanded, innovative marketing demands