Managing and Running Small Business: Assignment

MANAGING AND RUNNING SMALL BUSINESS
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Table of Contents
Introduction................................................................................................................................4
Task 1.........................................................................................................................................5
LO1 Discuss how a small business or social enterprise plans and allocates resources to
achieve objectives......................................................................................................................5
The main considerations Charter court financial services needs to address when planning
and allocating resources to achieve business objectives (P1)................................................5
Task 2.........................................................................................................................................9
LO2: The customer relationship management process for a small business or social
enterprise, including understanding the benefits and challenges of transnational operation.....9
The different processes of customer relationship management for Charter court financial
services (P2 & P3)..................................................................................................................9
Task 3.......................................................................................................................................12
LO3: Cash flow forecast, budget and break-even analysis and interpret key financial
statements.................................................................................................................................12
An annual itemised monthly cash flow forecast showing fixed and variable costs set
against income for Charter court financial services(P4)......................................................12
Break- even analysis could be applied to Charter court financial services (P5)..................13
The key financial statements for Charter court financial services in relation to how they
contribute to the successful management of the organisation (P6)......................................14
Task 4.......................................................................................................................................18
LO4Implications of regulation and legislation on a small business or social enterprise.........18
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The key legislation and regulations that have implications on Charter court financial
services (P7).........................................................................................................................18
Conclusion................................................................................................................................20
Reference list............................................................................................................................21
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Introduction
For managing a small business organisation development of a proper management system is
significant and for running the business properly, appropriate planning of business is
essential. However, for meeting the organisational objectives, the management of the
organisation has to allocate the resources properly, and development of appropriate planning
which include the total timing, financial resource need, other resources need and the total
budget for the objective. However maintenance offer healthy customer relationship is part of
the organisational Management and running. Finally, use of proper regulations within the
organisation and implication of the designation of the country play essential importance in
the process of running and managing the business.
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Task 1
LO1 Discuss how a small business or social enterprise plans and allocates
resources to achieve objectives.
The main considerations Charter court financial services needs to address when
planning and allocating resources to achieve business objectives (P1)
The organisation Charter court financial services are well known for their exclusive service
of leading specialist bank issuers. However, this organisation has three different brands those
are Charter savings bank, precise mortgages and exact mortgage experts. Providing services
to the various markets is part of the organisational activity(Chartercourtfs.co.uk. 2018).
In addition to that, delivering growth as well as sustainable returns to the shareholders is
organisational objective. However, providing Quality Services and product proposition to
mortgage brokers and their customers is part of the responsibility. Finally, it can be said that
the main all primary business objective of this organisation to deliver high-quality growth as
well as sustainable and attractive risk-adjusted returns to the clients and
customers(Slawskyand Zafar, 2017).
For achieving this business objective, this organisation has developed their strategies and also
the allocation of resources according to their needs. For meeting their goals, the lending
strategy of this organisation objective is to target attractive and under solved secured lending
markets. This organisation has a main brand which is known as the precise mortgage is brand
however they are related to target special is mortgage and those are related to the underserved
by medium-sized or large UK retail banks. in addition to that building, societies is also one of
the parts. The central planning of this lending strategy is unpinning bye different market
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dynamics which should be positive as well as long-term in nature(Chartercourtfs.co.uk.
2018).
Another lending strategy or planning is to providing precise mortgages which are led by
different industrial professionals who are experienced in their role. In addition to that support
from the highly skilled members which are also experience and inside spelling of the total
mortgage life cycle even part of the strategy. However, according to this landing strategy the
organisation also emphasise on securing their significant market share by producing attractive
lending segments related to large product development.
Finally, the last landing strategy for the planning of this organisation is to automated
decision-making platform, Bespoke, which help the organisation in the management of
mortgage applications(Chartercourtfs.co.uk. 2018). In addition to that, for delivering for
Rapid decision in principle this decision-making platform work remarkably. Depending on
the organisational rigorous as well as codified lending policy, the credit courses and rules are
being developed by the organisation. In addition to that this platform is also effective because
it helps the precise mortgages to react quickly to the non-standard mortgage request with help
the organisation for their failure. In addition to that, this platform is also helpful for the target
market and risk appetite for this organisational consistency.
Accept the lending strategy the organisation also follow some funding strategy for
maintaining and developing establishing the retail saving business as one of the growing and
predictable resource of funding. For that, the chartered savings bank has developed their
award-winning business. In addition to that, the organisation also associated with diversifying
the organisational product offering for getting more access to the new funding
pools(Chartercourtfs.co.uk. 2018). However, continuing different offers related to the
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