Key Regulations Impacting Small Businesses

The assignment provided explores key regulations that impact small businesses, using Café Yum Tum as an example. It emphasizes the significance of adhering to rules and laws to ensure business success and profitability. The report also highlights the importance of effective customer relationship management for achieving high market growth and profitability.

MANAGING AND
RUNNING SME

INTRODUCTION.....................................................................................................................................3
TASK 1....................................................................................................................................................3
P1 Main considerations a small business needs to address when allocating resources....................3
TASK 2....................................................................................................................................................6
P2 Evaluate different processes of customer relationship management...........................................6
P3 Analysis of development of small business transnationally with its benefits and drawbacks.......7
TASK 3....................................................................................................................................................9
P4 Formulation of monthly cash flow forecast showing fixed and variable costs..............................9
P5 Break even analysis ....................................................................................................................12
P6 Interpretation of key financial statements and its contribution in successful management......13
TASK 4..................................................................................................................................................15
P7 Implication of key legislations and regulations upon small businesses.......................................15
CONCLUSION.......................................................................................................................................17
REFERENCES.........................................................................................................................................18

INTRODUCTION
In this ever dynamic business environment, every organization, i.e. small or large is
tend towards creating strategies and policies which helps them to obtain maximum
sustainability at marketplace. The number of small businesses is rapidly increasing in UK but
they also face huge market competition cause of wide presence of large corporations. In this
manner, while running a SMEs managers are required to ensure about all necessary resources
which helps in effective completion of all business activities and tasks (Wynarczyk,
Piperopoulos and McAdam, 2013). It also helps small businesses in expanding their market
share and increasing sales as well. Café Yum-Tum is the chosen organisation for completion
of this report which is located in Queen street of London and offers variety of coffee and
other beverages to people. The main motive of the café is to sells moderately priced food to
an upscale casual dining market. This assignment is going to be described major factors that
should be considered while managing a small business. There will be a discussion upon
process of customer relationship management and the concept of break-even analysis,
TASK 1
P1 Main considerations a small business needs to address when allocating resources
In business environment, different factors are being presented which can affect
business functions or processes and firm’s don’t have any control upon these factors. In order
to prepare a business plans for small businesses managers should assess these elements so as
to accomplish goals in stipulated time frame. It also helps them in planning and allocating
resources in the best possible manner. There is colossal connection among compelling
allotment of assets with achievement of targets. Lack of resources can influences the working
capacity and generate vast of issues are occurred towards achieving objectives. In this way, if
all resources like assets, representatives, vision and mission and so forth oversaw in
compelling way which facilitates the process to attaining vision and mission of the company
(Williams, 2012). Café Yum Tum is a newly establish café which is located in Queen street,
here wide range of people usually come in a day. The venue features brewed coffee and
espresso-based beverages, granita ices, fruit smoothies and juices, and other beverages
typically associated with a coffee shop. A dessert bar will serve a range of freshly prepared
desserts, as well as baked goods associated with breakfast.

Following are the main features which must be considered by Café Yum Tum is
stated as under: -
 Requirement of funds: Working capital is one of the most imperative resources that is
required to complete all functions or operations effectively. It is prime obligation of
association is to recognize the need of funds by every department to do their working
activities and tasks. It decides about accessibility of assets. In the event that if funds
are not adequate then they have the obligation to recognize the distinctive sources
through assets are raised effortlessly to conduct future tasks. It is very unimaginable
for small business association is to work without adequate measure of working capital
with full limit. So that management of Café Yum Tum need to decipher its financial
articulations to comprehend about their costs, wage, inflow and outflow of cash
money and so on. It gives the chance to outline strategies which expels their
superfluous costs. For example: If company wants to expand its size and wealth then
they have to increase level of productivity and produce number of items as well as
varieties so that more customers can be attracted. For this purpose, appropriate
financial resources are required to run entire business operations in well manner.
 Objectives, vision and mission: There is gigantic effect of goals, vision and mission of
association with respect to detailing of their distinctive plans about various
perspectives and planning of resources according to genuine requirements. The goal
of Café Yum Tum is to serve tasty and delicious food to customers’ by valuing their
money and always focus on generating something new. For this purpose, management
is required to use of current promoting procedures to enhance deals. It comprehends
that need to hire a new marketing team (Weske, 2012). For example; company must
be sure about their visions and mission that are to be achieved. Therefore, Café Yum
Tum required to plan for setting their major objectives and aims so that all tasks can
be divided accordingly. It also support in allocating resources among different
activities so that goals can be attaind.
 Human resources: Workforce planning is one of is critical task for management as it
fulfils the requirement of human resources in a business organisation. It helps in
auspicious fruition of their errands inside stipulated timeframe. Due to lack of human
resources reduces the production or output level which all affect sales and
profitability. Determination of number of workers required, exhibit aptitudes and

proficiencies and so on. It also aids in organising training and development programs
which helps in improving current abilities and contributes of staff members in
accomplishment of their coveted outcomes. There are required adequate human
resources and manpower for performing all tasks with an effective manner. Café Yum
Tum considered its staff members and divide work as per their abilities or capacities
that facilitates in achieving success.
 Internal policies and external influences - Internal policies are based on negotiations
and bargaining affects resources allocation. Apart from this, demand of stakeholders
of the firm also hinder planning and resource allocation. Stakeholders can be –
customers, owners, employees, management, suppliers, creditors and local
communities. Law and legislations of the nation should be also taken into account
while planning resources, like - pollution control, safety and labour welfare
requirement. This is necessary to formulate various policies and rules or regulation to
run business operations in adequate ways. Café Yum Tum has to undertake several
factors as internal and external that can influence the organisation and its operations.
Therefore, manager has to plan for making effective strategies and corrective actions
for surviving from such circumstances.
Allocation of resources within organisation:
There are defined number of tools and techniques that support in effective utilisations
of available resources and their allocations in well manner. Some are as follows:
Crtitical path analysis: This path help in provide adequate information regarding different
paths that must be required for completing task and achieve objectives in an effective way.
This tool support in defining the particular time period which needed to complete project. It is
essential in allocating resources among different activities as per the time schedule so that
better gaols or objectives can be attained.
Gantt chart: This is known as graphical representation where defined the project on paper
and chart form. It is a bar chart that describe the start and finish date so that activities can be
scheduled effectively.
Importance of allocating and planning resources to achieve objectives:

 Café Yum Tum can attarcts more customers by providing number of items of foods to
the target audience. Planning will support in improving profitability and productivity
 This is helpful in optimising available resources for getting maximukm outcomes.
 It is essential in increasing market share and achieve sustainability within time frame.
Therefore, Café Yum Tum can achieve predetermined goals or objectives in an effective
manner.
TASK 2
P2 Evaluate different processes of customer relationship management
In order to attain high market viability and build up a strong goodwill over
marketplace, small business organisations are required to keep positive relation with
customers by satisfying their needs and wants in the best possible manner. Thus managing
department of Café Yum Tum should focused on determining issues which can affect value
of their products and develop policies to resolve them as soon as possible, The firm can also
acquire a system approach for that is based upon effective management of customer
relationship.
The term customer relationship management is an application which is acquired to
manage a firm’s relation or interaction with its target and potential customers; it aids in
raising cost-effectiveness. CRM is not just for sales but also helps in embedding business
from HR to consumers services as well as supply chain management. In present scenario, to
keep strong customers’ relations small firms are acquiring CRM tool which reliefs in contact
management, workflow process, sales management, productivity and so on (Jenkins and et.
al., 2013). Below is defined procedure of customer relationship management: -
Identification of clients base: It is the initial step which incorporates division of
customers on the basis of benefit. Determining client base helps in assurance of most gainful
portion of clients. Through this items are given according to such target section which helps
in change of offers too. Café Yum Tum analyse its customers’ portfolio by conducting a
market research and recognise their needs and wants and trying to satisfy them in the best
possible manner.

Customer intimacy : In this stage, management have to familiar with customers’
nature and their feelings as well. To build strong interaction with customers is relies upon
how a firm treats its customers and how affectivity satisfy their needs or desires. In order to
increase customer intimacy towards a brand managers have to know consumer buying
behaviour and learn more about target market (Smit and Watkins, 2012). This step includes
produce a customer database to store the gathered information. Beside this, to achieve their
trust and fabricate successful client base entrepreneurs need to consistent observing in light of
the client inclinations.
Network development : It is the way toward improving interaction with different
customers which has a vital part in affluence of business activities or operations adequately in
target market. Network development incorporates about influencing connection with various
representatives to like suppliers’ workers, financial specialists, and internal parties and so on.
Value proposition statement: This procedure begins after distinguishing proof of
target clients which incorporates provision greater quality items which enhances esteem the
products more. In order to extend its value over market, Café Yum Tum is tend towards
providing qualitative and healthy products with a delicious taste; it gives maximum
satisfaction level to customers and win their trust as well. As result, it gives the chance to
enhance market image of a business association.
Customer life cycle management : It implies an ideal journey of customers, i.e. from
a potential client to become a loyal customer of the firm. In order to manage this cycle,
management requires a proper framework and attention to all processes. For this purpose,
business owners can take strides through which clients experiences will increases; it involves
considering, obtaining, utilizing and keeping up loyalty towards producing products.
Different Process of Cutomer Relationship Management
CRM process involves the activities and strategies that the organisations uses to
manage their interaction with the current and the potential customers. It involves the analysis
of organisations customer base and determines the groups and the kinds of customers are
most profitable for the company. Five Step Process for CRM includes-
 Customer Portfolio Analysis- It involves the analysis of the customers for the
organisation to determine what gropus and kinds og customer are the most profitable.

It helps in defining organisations target customer base. It assist the Cafe Yum Tum
to analyse the kinds of customers they are taregting.
 Customer intimacy- It is the process of getting familiar with the organisations target
based customer. It leads to creation of relationship building where organisation made
themselves update from buying habit of the customer to the personal information such
as remembering of birthdays and anniversaries. It usually includes building a
customer database to collect and store information.
 Network Development- It refers to building strong relationship with the
organisations customers and the networks which are critical for the success. This
helps in proper servicing of the customers and will maintain efective relationship
between the partners such as suppliers, investors as well as employees and partners
within the respective organisation.
 Value Proposition Development- This step is concerned with creating value
proposition for the customers. In creating value for the customers, respective
organisation should also create value for the organisation.
 Customer Life Cycle Management- This is considered to ideal customer journey
and maintains the continuing relationship with the customer. It determines the
organisation structure and must effectively manage the relationships with the
customer.
This is the effective process of Customer Relationship Management which includes five basic
steps of effec tively managing the relationships with the customers and thereby providing
products which creates values for the customer and assist in providing a competitive
advantage.
P3 Analysis of development of small business transnationally with its benefits and
drawbacks
The term transnational sales is associated with capacity of a small business to sale its
offerings in a new nation and identifying a new market attaining maximum market share. It
supports to provide an opportunity to firms to achieve high profit margins and sales revenues.
For this purpose, management is required to provide acquire various strategies and policies so
as to grab better future opportunities and expand market areas. It will also aids them in
building an effective market image and strong public relations (Schaper and et. al., 2014).

Therefore, it can be said that transnational sales help Café Yum Tum in attracting and for the
same its need to focus one quality and price of products; both elements will attain
competitiveness in their business activities.
Growing a small business – A small business needs to attract customers through
marketing strategies which help to make them aware about the inception of Café Yum Tum.
As customer get information about it they will allure to purcahse products and its slowly give
a growth to the business. Cafe should use social media platform that can enhance reach
towards potential customers. The firm should also provide some attractive and innovative
falvours to customers that can sustain them for a long time. They shoudl offer such
customized products that can be speciallity of cafe and that can offer customer satisfaction as
well.
Basically, transitional trade is all about exchange of goods and services across the
international boundaries in order to acquire more or more profit by maximizing the profit
level. Thus, small business can easily get succeeded in attaining their set objectives or goals
in a defined time frame by making collaboration with foreign companies. Thus, selected firm
can also come up with creative ideas for establishing positive goodwill of an organization at
marketplace by grabbing the international opportunities. In fact, various internal and external
factors are fluctuating due to changes in several other elements. For example; political rules
and regulations are getting modified due to which company needs to consider trade policies
before entering into foreign contracts. Along with this, currency rate also fluctuated which
may influence the profit level of an association. Thus, selected firm needs to design prior
strategy and install modern technology for coping up with changes that might incurred at
marketplace. Additionally, requisite to hire skilled or talented employees for handling
business operations in more effective manner as well as attain company goals in a given time
frame.
Advantages –
 Independence: The administration has the privilege to take choices in regards to
development of business activities in new nation without interview with different
gatherings.
Disadvantages -

 Lack of fund: In small business, lack of capital is the critical factor which lessens their
capacity to extend activities.
 Time period: Another factor which impacts the extension plans and policies are time
period. Due to intense market competition, a business takes long time to settle into
market which is quite difficult task.
Customer relationship management process:
In this considered the procedures for managing and managing customers relations
with organisation so that they can be loyal towards company's products or services in an
effective manner.In this consider the model of 4C's which described the stages of customers
relationship management process such as: Correlate: This can be considered as the procedure for building good relationship
with other organisational department and their function for effective collaborations. Combine: It is a phase where customers relationship are to be made with well
manner. Cognize: In this defined the procedure where information are to be provided
regarding different functions.
 Connect: In this make strong connection and create synergy with supplier and
customers for achieving long term objectives.
Development of transactional operations:
Skills to grab opportunities: There are required to grab opportunities for achieving
success and business growth as manager have to apply their skills, abilities and knowledges
for attaining long term objectives.
Relationship commitment decisions: It provide the available time factor for
producing various products or servics and fulfil demands of suppliers and customers in
adequate way.
Networking positioning: there are required to develop effective networks by using
different types of advertisement tools and channels.
Learning curve: In this consider the application of new methods for the purpose of
improving existing feature of particular products.
Small business should develop the business transnationally by the following ways-
 Licensing- licensing is a legal relationship where business is granted a limited right to
use a particular trademark or technology in exchange for the royalty fee. this is a great

way in which small business can come under licensing with a big organisation and
can develop the business transnationally which helps in incurring major profits for the
company.
 Franchising- It is a contractual agrreement which takes place between a Franchisor
and Franchisee. Franchisor authorises franchisee to sell their products, goods and
services and give their rights to use their trade mark and brand name. This is a
effective way of expanding business at a global level.
 Development of Strategic Alliances- Strategic Alliance refers to the agreement
between two or more firms which works collaboratively towards the achievement of
the common set of goals but works independently after the formation of alliance. In
normal terms it can be described as when two companies works together to achieve
common objectives by sharing the resources, technology with each other is known as
Strategic Alliance. This is an effective way of enhancin the small business
transnationmally.
 Merger or Joint Venture- In order to enhance the business transnationally business
can come under merger agreement that unites two existing companies into a new
comapny. Merger is commonly done to expand company's reach and enhance its
market share and acquisition refers to take over of one entity by other. These are the
effective ways which helps the small business to expand their business transnationally
and enhances their brand image.
Advantages of expanding business transnationally
 Enhances Brand image and sales- When small business expands business
transnationally it leads to the enahncement of the brand image as well as incrwase
sales for the company as customers becomes aware about their product and
automatically increases profits for the company.
 Business becomes less vulnerable to chnaging trends- As business trends changes
from time to time. Customers demands innovative and new products because of the
changing trends. Expanding the bussiness transnationally will allow smal business to
provide goods according to the demands of the customer.
Disadvantages of expanding business transnationally

 Currency Fluctuations can completely eliminate profits- When the business
expands business transnationally, it leads to the fluctuations in the currency rates. It
becomes difficult for the company to anticipate the profits as becuse of the
fluctuations in the international curriences.
 Unawareness about the market- It becomes difficult for the the organisation to
expand the business internationally when they do not have proper knowledge
regarding the market in which they are operating.
These are the advantages and the disadvanatges of the expanding business transnationally
which the respective organisation should take care off which assi them in operating the profit
successfully.
TASK 3
P4 Formulation of monthly cash flow forecast showing fixed and variable costs
In order to fulfil their day to day business transactions, small businesses are required
certain amount of capital which also helps in improving functional areas of the firm as well as
improving performance. Having sufficient avaialablty of finance aids Café Yum Tum to
improve quality of its goods by adding value in them and make them to satisfy needs and
wants of customers (Jasra and et. al., 2012). Strong funding also helps in acquisition of new
and innovative techniques as well. It can be additionally characterized into parts, for example,
internal and external, such are described as under: -
Internal sources of finance -
 Sale of fixed assets – If a firm has strong assets then it can sell it in order to increase
its financial credibility. It also helps in resolving needs of instant finance; the king of
internal sources is divestment. .
 Reducing working capital – It is a procedure in view of dealing with accessible cash
all the more intently. If managers can arrange shorter charging times with customers
and longer instalment terms with suppliers, they will get subsidizes faster and pay
them out more gradually, it abandoned a firm with more cash for completion of
everyday tasks. This approach relies upon solid associations with these partners
(Harmon, 2015). Along with this, decreasing working capital needs by keeping less

stock available and requesting just as much as require, as nearly as conceivable to the
time they really require it.
External sources of finance –
 Bank loans and mortgages - This incorporates the way toward raising the assets from
private banks where some measure of their advantages are sold for particular
timeframe till such rule measure of credit isn't dispensed to bank.
 Bank advances: It is considered as assertion amongst borrower and bank which is
have to reimburse inside certain timeframe. Such measure of credits conveys settled
sum intrigue charged every year premise.
 Overdraft facilities: It is the service gave by bank in which business organisations
have choice to overdrawn the sum from financial balance according to their need.
 Renting: It is procure understanding where enabled outside gatherings to utilize the
place or some other thing in the arrival of sum as rent (Hammer, 2015).
Forecasting and budgeting -
The core concept forecasting is also called arranging about future activities which
coordinates the workers about execution of various activities. This incorporates the procedure
of plan of various spending plans which incorporates benchmarks utilized further to measure
the real execution. There are numerous procedures which helps in adequate planning and
anticipating are characterized beneath:
 Time series data : This systems used to find out the data with respect to day and age
under which the new task ought to be finished by association. Based on such data
spending plans are readied and benchmarks are set for workers. It helps in
characterizing their parts and duties (Durst and Wilhelm, 2012)
 Determination of moving normal: It gives the chance to comprehend about current
pattern and changes which are required in their current items. It fulfils their requests.
Balance sheet, P&L and Cash flow statement of Cash and Carry(Wholesale) Organisation
Balance sheet at the year ended
Year 2017 (value in £) 2018 (value in £)

Fixed assets 130 210
Stock 20 35
Debtors 70 55
Bank 20 30
Total 240 330
Creditors 120 180
Bank overdraft 90 70
Total 210 300
Working capital 30 80
Profit and Loss Account at the year ended
2017 2018
Sales 20 30
Cost of sales 10 15
Gross profit 30 45
Overheads 6 7
Net. Profit 24 38

Cash flow Statement
Cash budget
for the year
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year
Beginning cash balance 25000 32250 31750 29750 26750
Budgeted cash receipts 12400 1600 1100 1000 15000
Total cash available 37400 34850 32850 29850 28250
Cash distributed
Direct material 1400 1150 1150 1300 1500
Direct labour 1200 650 650 650 650
Overhead 900 600 600 600 600
Selling and distribution 650 700 700 700 700
Total cost use 4150 3100 3100 3100 3100
Cash surplus/ deficit 32250 31750 29750 26750 2515
P5 Break even analysis
It is a method generally utilized by production and accounting management
departments. Break even analysis depends on classifying creation costs between those which
are "variable" (costs that change while the production of yield changes) and those that are
"fixed" (expenses not straightforwardly identified with the volume of production).
Graphical presentation of Break-even analysis -

In its easiest frame, the break even analysis is a graphical portrayal of expenses at
different levels of movement appeared on an indistinguishable outline from the variety of
salary (or deals, income) with a similar variety in action. At the point when neither benefit
nor loss is made is known as the "break even point" and is represented on the graph beneath
by the crossing point of the two lines: Although, break-even analysis helps entrepreneurs
decide when they'll start to turn a benefit and encourages them value their items on account
of that. It gives a dynamic review of the connections among incomes, expenses and benefits.
In simple words, it’s an evaluation of the point on which revenues are equal with expenses.
P6 Interpretation of key financial statements and its contribution in successful
management
Financial statements – It plays a vital role in managing and presenting financial
position of the company at a point. A general purpose to prepare financial records is to
manage financial in a systematic manner which includes balance sheet, profit and loss
account, cash flow, trading account etc. all these supports decision makers to make
imperative investment decisions. Following are the key financial statements, such as –
 Profit and loss account: It is articulation which incorporates summaried data about
entire transaction of a small business association with respect to their incomes,
expenses and costs which are brought about in one financial year. Through

elucidation of this kind of information, defines the capacity of a firm in order to
create profits by lessening of superfluous costs. It is otherwise called income
statement (Bridge and O'Neill, 2012.).
 Balance sheet: It is considered as proclamation which gives the data about the
assets, liabilities, investors and shareholders equity particular timeframe. Balance
sheet can be utilized by financial specialist to comprehend about the position and
marker goodwill of a firm. It has three distinct portions which contributes in
comprehension about organization claims, owes and total contribution made by
investors. It encourages the administration to comprehend about their capacity to
pay off their current obligations.
 Cash flow statements: It is classified into three sections like cash from working
activities, financial activities and investment activities. Along with this, cash flow
statements gives the data about the total cash and cash equivalents which are
inflowing and outflowing within the organisation. It helps the management of
Café Yum Tum is to deals with cash related issues as well as improving cash
ability to pay off their liabilities (Durst and Runar Edvardsson, 2012).
Analytical and quantitative techniques to provide break even analysis:
There are defined two different type of techniques which generally present that
essenial in identifying of break even point. With the help of these applications, management
can improve their strengths and financial conditions to accomplish set goals or objectives in
an adequate manner. It support to the firm in attaining set targets with stiputalating time
period. Break-even point is to be called where company reach to situations of no profit and
no loss.
Cash flow and break even analysis:
Financial statements is defined as the term in which include profit and loss account,
cash flow statements and balance-sheet etc. All statements provide the information regarding
regarding current assets and liabilities for the purpose of attaining competitive advantages in
well manner.

Balance-sheet is one of the financial aspects which serve data and provide
information regarding current assets and liabilities with effective manner. It support in
determining the position of the company.
Profit and loss accounts provide the information about the transactions of an
organisation. These statements generally shows the current data for analysing actual
expenditure and income.
Cash flow support in spreading more information regarding inflow and outflow of
cash. This is essential in providing adequate information about the organisation and its
financial position with an effective manner. For example:
Profitability
ratios Formula 2017 2018
Gross profit
ratio gross profit/net sales*100 150 150
Net profit ratio net profit/net sales*100 120 126.666667
Liquidity ratio Formula 2017 2018
Current ratio Current asset/current liability 0.75 0.5
Acid test ratio
Current asset-inventory/ current
liabilities 0.58333333 0.30555556
TASK 4
P7 Implication of key legislations and regulations upon small businesses
Each little association like Café Yum and Tum is required to stick such direction to
get adequacy their activities and achievement of their goals and objectives inside stipulated
timeframe. In UK, different rules and regulations are being set for small business
organisation which must be followed in any manner. These laws and legislations have a
proper control on business activities for effective completion upon business activities and
operations. If such controls are not fulfilled then it has negative effect upon the deals and
productivity of the fir,. Thus, it is essential for management of Café Yum Tum to adhere such
laws so as to perform legally. Below is defined main laws and legislations -

Health and safety Act 1974: The principle arrangement of this law is to bring
commitment upon the business is ensure the strength of their representatives at work
environment. In such manner, business owners are required to have all security measures
which guarantees the health and safety of employees. This spurs the workers of
association is to give their best in accomplishment of authoritative objectives.
Implementation of health and safety law also developed trust and enthusiasm of staff
members.
Data protection Act: The act is developed for protecting personal information of
employees who are working in a business association. In simple words, data protection act
restricts the transmission of confidential information between employee and employer to
another person. It builds trust of staff members and reduces employee turnover rates. It helps
in reduction in staff turnover through improve their trust.
Tax and business act: This legislation brings a commitment upon a business
association to pay their all duties and taxes on time. It provides an opportunity to firms to
take the help of government in execution of their distinctive exercises. It likewise helps in
improving their market image as well.
Implications of regulations in organisation
There are huge impact of regulation and legislation on the organisation that may
affects positively and negatively as well. These are as following:
Positive: In this defined that if all rules and regulation are to be applied then
companies has opportunities for gaining objectives and win employees trusts with an
adequate manner. This will support in improving the work productivity and work efficiency
so that better goals or objectives can be attained. Employees will feel motivated while
performing any task or activities as well.
Negative: If company do not follow these rules and regulations then it may affects on
the organisation in negative manner. They can decrease their sales volume as well as
profitability.
Key regulations that impact on small businesses
Cafe Yum Tum has required to adhere various rules and regulation so that entire
activities can be run in appropriate manner. It is necessary to obey such legislation that have
major impacts on the business and its operations.

CONCLUSION
From the above mentioned report, it get analysed that while managing a business
association management is required to consider certain aspects which can affect its sales
and profitability in nearby future. The report has stated that Café Yum Tum is managing
effective customer relationship which will help it in attainting high market growth and
profitability. It is essential for management to fulfil all laws and legislations in order to
perform in legal manner.

REFERENCES
Books and Journal
Wynarczyk, P., Piperopoulos, P. and McAdam, M., 2013. Open innovation in small and
medium-sized enterprises: An overview. International Small Business Journal.
31(3). pp.240-255.
Williams, C.C., 2012. The hidden enterprise culture. In Enterprise, Deprivation and Social
Exclusion (pp. 184-204). Routledge.
Weske, M., 2012. Business process management architectures. In Business Process
Management (pp. 333-371). Springer, Berlin, Heidelberg.
Smit, Y. and Watkins, J.A., 2012. A literature review of small and medium enterprises
(SME) risk management practices in South Africa. African Journal of Business
Management. 6(21). p.6324.
Schaper, M.T. and et. al., 2 014. Entrepreneurship and small business.
Jenkins, P.T. and et. al., 2013. Method and system for managing enterprise content. U.S.
Patent 8,464,206.
Jasra, J.M. and et. al., 2012. Determinants of business success of small and medium
enterprises.
Harmon, P., 2015. The scope and evolution of business process management. In Handbook
on business process management 1 (pp. 37-80). Springer, Berlin, Heidelberg.
Hammer, M., 2015. What is business process management?. In Handbook on Business
Process Management 1 (pp. 3-16). Springer, Berlin, Heidelberg.
Durst, S. and Wilhelm, S., 2012. Knowledge management and succession planning in
SMEs. Journal of Knowledge Management. 16(4). pp.637-649.
Durst, S. and Runar Edvardsson, I., 2012. Knowledge management in SMEs: a literature
review. Journal of Knowledge Management. 16(6). pp.879-903.
Drucker, P., 2012. The frontiers of management. Routledge.
Drucker, P., 2012. Management. Routledge.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Bridge, S. and O'Neill, K., 2012. Understanding enterprise: Entrepreneurship and small
business. Palgrave Macmillan.