Managing and Running a Small Business

MANAGING AND
RUNNING A SMALL
BUSINESS

Contents
INTRODUCTION...........................................................................................................................3
Activity 1.........................................................................................................................................3
Main considerations when allocating and planning resources in order to attain business goals 3
Tools as well as techniques in an synthetic way about how to plan and allot resources........5
Importance of planning along with allocation of resources for attaining business objectives5
Various processes of CRM for a small business entities........................................................6
Discussion about how small businesses develop transnationally and its pros and cons........6
Essential factors of Customer relationship management process...........................................7
Possible to create transnational transaction............................................................................8
Activity 2.........................................................................................................................................8
An yearly itemised time unit cash flowing prediction showing fixed as well as variable costs
in direct contrast to income of organization...........................................................................8
Break-even analytic thinking in reference to organisational situations..................................9
Statement about the key financial statements involve in a successful business management11
Quantitative as well as analytical techniques.......................................................................15
Break even analysis along with cash flow statement...........................................................16
Essential legislation as well as regulations which have high implications..........................16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
In the current competitive environment, small & social business entity's highly affected
on the overall growth as well as development of the economic system of the country. It has also
been said that according to business group as well as entrepreneurs it is consider as the
possibility which leads towards the accomplishment of more profit as well as money at the
competitive market. Along with this it is also very essential for the business organisations to
identify the needs requirements of customers so that they can gain success at the marketplace and
develop the living standards of people. In this report, a business organisation named as JS
Supermarket Ltd is selected. The present report is divided into part where activity 1 includes
discussions about the importance of preparation as well as allotment of resources. In addition to
this it also consist of factors which needs to be considered while doing resources allocation.
Whereas in the second part of this report, discussion about break-even analysis, cash flow
forecast, are going to be included. Along with this, discussion related to how financial statements
assistin order to gain success at the competitive marketplace. At the end, different sort of
legislation and rules are also going to be discussed which have their influence on the small
business entities.
Activity 1
JS supermarket Ltd company is one of the well known small scale retailer mainly
operates its business functions at the marketplace of UK. It is a retail sector supermarket founded
in year 2014 by Ranachandran Jalatheepan. It has been said that the organisation commonly
deals in food, grocery and beverage items which are high in quality. Currently the organisation is
facing issues related to decline in its customer base. This will negatively affect the business
operations and performance of the company at the competitive marketplace. For reducing the
negative impact they are now deciding to develop new strategies and policies to gain higher
profitability at competitive market.
Main considerations when allocating and planning resources in order toattain business goals
At the present marketplace in UK, there are ample number of opportunities given to the small
and medium enterprise to have the capability to earn more profitability at the marketplace where
competition is high. One of the major reason for this is Brexit as it provides benefits to business
organisations to setup their business from small scale within the marketplace of UK. There are
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various functions and activities conducted by the organisation on a day to day basis which
consist of recruitment, budgeting, selection, planning, allocation of resources, interpretation of
financial data & many more. For gaining growth and success at the competitive marketplace
managers of JS supermarket Ltd. in order to develop strategies and policies which is needed to
allocate resources. Some of the key elements needed for planning along with the allotment of
resource are going to be discussed as follows:
Financial resources: It define as the element mainly plays very crucial role in the
formulation of resources allocation. With the assistance of availability of required funds, an
organization can smoothly run their enterprise functions in a well defined and in an appropriate
way. In reference to JS supermarket Ltd the company which is a small level business entity as
well as does not consider any kind of capitalist which makes it challenging for them to execute
their concern purpose in a smooth way. The owner gather funds from family, friends and Bank
loan. Apart from this, organisation decides to strengthen their customers base for which huge
amount of funds are required.
Human resource: Another essential factor is human resource on which the whole
organisation growth and development is dependent. With the help of there skills and knowledge
they can produce high quality products and services which leads towards developing loyal
customer base which influence the overall performance in a direct manner. In reference to the
present context of JS supermarket Ltd, HR manager of the company need to develop various
effective strategies in order to hire best and skilled candidates. Along with this, it becomes
essential for the manager to develop strong relationship with their customers so that they can
accomplish their goals and objectives in an effective manner. It will assist the management team
of JS supermarket in order to improve their performance and accomplish their targets within
given time period.
Goals, mission, vision & targets: For grabbing a leading position at competitive
marketplace, it becomes necessary for raising the customer base and retain them for a longer
period of time by maintain them loyal towards their brand. It has been said that the main vision
of the company is to maintain their sustainability and position at the marketplace in retailing
sector. Apart from this, the main aim of JS supermarket Ltd is to create positive and strong
image of the company at the marketplace by satisfying their requirements and demands. For this,
they hire highly qualified and skilled candidates for their business activities and leads towards
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