Managing and Running Small Business

This document discusses the main considerations and planning resources for small enterprises to achieve business objectives. It also explores the process of customer relationship management for small and social businesses. Additionally, it provides insights on how a small business can develop transnationally through transactional sales and internationalization. The case study of Syient London Limited, a small management services company, is used as an example throughout the document.

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Managing and Running Small Business

A business plan – Plan in relation to business is important which can help to
run a business and increase the productivity. The manager of Syient London
Limited are using this planning and resources that helps to make the plans and
implement them effectively
 P2 Process of customer relationship management for small and social
business
Customer relationship management – Customers are main needs of
organisation to who they can sale their producing products and services at the
consideration and helps to increase the business performance. In other words,
it is the process of attracting, delivering and retaining the customers in order to
sale their products. A process of attracting, influencing and retaining the
people for ling period of time consider as customer relationship management.
Small business such as Syient London Limited is using customer relationship
process that should be used by all small and social enterprises that are as
follows:
Assessment of customer value - This means organisation firstly needs to
analysis the needs and wants of their customers as what they wants and how
they can be satisfied. If a business concern is able to get understand customers
and its value then it can run business by delivering quality of products and
services. Syient London Limited is using this process to maintain the customer
relationship by assessing their value with the help of conducting research and
providing them products accordingly.
ACTIVITY 1
P1. Demonstrate the main considerations of small enterprise which
needs to address in planning while allocating resources to achieve business
objectives
Small business – A organisation which is started by less number of people
in order to provide the products and services as per customer demand is small
business. This types of business are not following any rules and regulation because
it is established at small level where people are selling products for the purpose of
living their daily life. The aims of small business is sale their products and get
earning for spending their days by filling needs and wants. For instance, Syient
London Limited is small size organization in Hounslow who is providing
management services in the form of consultant that helps to run a business
effectively
Planning resources – Resources are systematic and logical estimation
which are used by business concern in order to attain their business goals. Without
planning it become difficult for company to attain their targets and run a business
effectively. Planning also uses to optimise resources which are available in
organization and states how it can make profits. Different types of planning
premises are external, internal, controllable, semi-controllable and non-controllable.
The anagers of Syient London Limited is management consultants technology
company that is using different sources and suggesting others are:
Premises and equipment – for running a business and establishing premises as
well as equipment are main planning resources which should be used by all
organisation while running a business. This helps to perform the activities and run
continuously. In Syient London Limited, managers are focusing on their premises
such as location, construction, design and equipment which are used to run a
business and increase the activities. This provide consultant to their clients to use
scarce of resources optimally so opportunity can be get and maintain competitive
advantages.
People and skills – To allocating resources and attaining the business goals it is
required to have people with good skills and talent that can help to take risk and
face competition effectively. In Syient London Limited, is having talented people
who are understanding their responsibility and perform it efficiently. Moreover,
training and development program me are run by managers for the purpose of
increasing capabilities and maintain good performance.

 Brand recognition – Transactional sales are satisfying the customer needs
and wants which improves brand image and organisation performance. The
manager of Syient London Limited are providing management consultant to
its client that helps customers to recognise their brand maintain the high
performance (Eastwood, Klerkx, Ayre and Rue, 2019).
 Increase in revenues – The selling activity of Syient London Limited is
increases by using transactional sales that helps to make higher profits by
increasing clients and running a business effectively. This helps to increase
the revenues by providing services in relation to management.
Drawbacks of transactional sales are as defined:
 Financial risk - To expand a small business and increasing
transactional sales there is risk of financial loss. Because, in
internationalisation and transaction sales there is need to arrange the finance
and capital in high range. Syient London Limited is facing the financial
risk at the time of establishing business.
 Lengthy process – Transactional sales and internationalisation is
longer process where it can be challenge for Syient London Limited to run
small business while using transaction process (Sun, Li, Zhang, Zhu and
Gaire, 2019).
Developing effective channels for customer communications – Communication
is other stage of maintaining good relationship with customers positively that
means a person should uses different sources and methods to communicate with
people and share the information regarding new products and services that can help
to attracts people. In Syient London Limited are using different channel such as
web self service, IVR mobile, news papers, direct selling and online channel in
order to provide the information to customers regarding their management services
so they also can maintain their business by managing activities, resources and
capital (Hristov and Petrova, 2018).
E-mail and digital marketing keeps strong relationship – This is another
stages of maintaining good relations with customers that helps to attracts customers
and increase business performance. In organisation managers should uses emails
and digital marketing such as face book, print media etc. that can help to provide
information in relation to products and services that can helps to increase business.
In Syient London Limited, managers are using emails and digital marketing that
can help to attracts people and retain them for long period.
Network development – This means identification and development of strong
relationships with people, organisation and network that helps to get the success for
business and maintain the high performance. Syient London Limited is suggesting
to its clients to keep in touch with customers by building a network area externally
that involves suppliers, investors, customers and other helps to run a business
effectively.
Thus, using CRM process Syient London Limited is running its small
business and making plans to expand business as it has good network area and
knowledge about management which helps to run a business and increase the
organisational profitability.
P3 How a small business can be develop transnationally
Transactional sales – This is selling strategy which is adopted by owner and
selling person in order to making quick sales and transactions with no pressure
on learning. Transactional sales is the activity which increases business
performance in competitive environment by attracting customers and deliver
them best quality of products. This is short term activity which states that a
small business should use transactional sale so customers can get products and
services. Syient London Limited is consulting with its customers and provide a
insights regarding transactional sale that can help to increase the business
performance and maintain the all activities (Strobel, Castelló Ferrer and Dorigo,
2018).
Internationalisation – This means a business can transact by selling its
products and services out of the national border that is called
internationalisation. This is the process of running a small business in other
nation and increasing high revenues by entering in to international market. There
should be good relation with international customers and needs to get their
wants so that kind of products can be delivered effectively. Syient London
Limited is small company in Hounslow west London that is selling the
management services to other clients that helps to expand business.
The benefits of transactional sales in context to Syient London Limited are as
defined:
Independence – This means a business should be run independently without
any intervention that helps to expand a business and increase the productivity.
Syient London Limited is selling providing the management services that helps
to make the right business decisions. The manager of such organisation are
providing accurate information to its clients that are as defined:
Lifestyle – Transactional sales are those sale which helps to make the quick
business decision and maintain a good lifestyle. The manager of Syient London
Limited are focusing on lifestyle by providing a proper assistance and
management services to customers.