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Managing and Running a SME - PDF

   

Added on  2020-10-22

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MANAGING ANDRUNNING A SME

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Discuss main considerations small business or social enterprise needs to address whenplanning and allocating resources to achieve objectives........................................................1TASK 2............................................................................................................................................3P2 Evaluate different processes of customer relationship management for a small business orsocial enterprise......................................................................................................................3P3 Explain how a small business develop transnationally and determine benefits anddrawbacks...............................................................................................................................5TASK 3............................................................................................................................................7P4 Produce an annual itemised monthly cash flow forecast showing fixed and variable costsset against income for organisation........................................................................................7P5 Break-even analysis and its implementation with in an organisation.............................10P6 Interpret key financial statements for an organisation in relation to how they contribute tosuccessful management .......................................................................................................11TASK 4..........................................................................................................................................12P7 Discuss key legislation and regulations that have implications on small businesses or socialenterprises.............................................................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15............................................................................................................................................16

INTRODUCTIONSmall business enterprises is a integral part of the nation and it contribute in economicdevelopment as well. In small organisation, less number of employees are working so thatgrowth opportunities of each one individual is very high as compare to large organisationbecause less competition at work place among staff members. In order to manage small firm inbetter manner, it is very important to develop appropriate techniques and policies through thisworkers has get effective direction or path of completing work Through this, all labour are ableto meet organisation objectives as well as aim in given time frame (Ali and Babiker, 2017). Inthis report select Austin Fraser firm to analysis the impact of small business unit on nations andwhole society. It is a recruitment and consultancy enterprise those are provide different kind ofrecruitment services in human resources, information technology, engineering department etc. Inthis assignment select main consideration of social enterprise or small business plan as well asallocating resources and evaluate customer relationship management process for small firm. Alsodevelop cash flow and budget with break-even points. TASK 1P1 Discuss main considerations small business or social enterprise needs to address whenplanning and allocating resources to achieve objectivesAustin Fraser is a small business unit those are providing different kind of consultancylike recruitment, selection etc. to clients in the field of engineering, accountancy, animation,information technology and many more. Small business unit has increase employmentopportunities at work place through this country are able to achieve goals and objectives ineconomic development. Austin Fraser has focus on providing high quality services to theirconsumers it help them to improve performance as well as market image in long run. The mainobjectives of small business is improve quality of product and services through this contribute innation development (Bridge and O'Neill, 2012). There are several elements available andmanagement of the company has analyse these all factor in order to develop future plan throughthis firm are able to achieve common goals in limited period of time. Some importantconsiderations explain as follows:Outline finance resources required:It is a one of the most important resources for eachone organisation whether they are small or large in their nature. Management of the1

company has find out appropriate mode to get fund like banks, financial institute, angleinvestor etc. in order to run whole business activities effectively. Money is a backbone offirm which help to completing operational task in given time frame. Small business unitneeded less fund as compare to large because they are operating business work at lowerlevel. Austin Fraser providing recruitment facilities to in which they are offer financialaccounting services to their clients. It is very help full for an organisation to manage theirprofits as well as loss statements effectively. Manpower and their skills: Manpower of the company help them to run whole businessactivities effectively in given time. It is a management responsibilities to build strongrelationship between them so that they work together in order to achieve common goalsand objectives in limited period of time (Burns, 2016). Human resources manager hasconducting training program for enhancing staff members performance ans skills. It is aHR manager responsibilities to deal with all staff members appropriately and appreciatethem to participating in management decision making process. Drafting a usable business plan: In small firm, management frame plan in which ideasare put into writing. This helps them to direct employees functioning by providing themvision and mission statement, goal and objectives. Executive of Austin Fraser draftbusiness plan which aid them to provide guideline to team members to complete targets.Besides this, stakeholders that are shareholder, investor, supplier and other people arecommunicated information about system functioning. Identifying customer's need: Management conduct market research and survey whichhelp them to have information about requirements and demands of people. This helpseniors of Austin Fraser to conduct business activities effectively, thereby deliverproducts and services in respect to need of buyers. Techniques and tools in structured and analytical wayThere are several action of plan used by Austin Fraser in order to allocate all resources atwork place with effective planning that has discussed as follows:Critical path analysis: It is a one of the important technique that help to identify leasttime taken activities from all project and find out lowest path of entire given problem.Through this, firm are able to completing task in limited or lest time period effectively2

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