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Managing Growth in SME’s and Family Business (Doc)

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Added on  2020-10-22

Managing Growth in SME’s and Family Business (Doc)

   Added on 2020-10-22

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Managing Growth in SME’s andFamily Business
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Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Background..................................................................................................................................1GROWTH PLAN.........................................................................................................................3CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
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INTRODUCTIONSmall business enterprises are the independent firms and have maximum employee limitof 250. The family owned business means the business runes by family members. The companieswhich have yearly turnover of not more than 50 millions. The most of the contribution in theeconomy of nation is provided by the SME's. In the private sector 99.9% of contribution is ofSME which was 16.3 million which is 60% of all private sector. The Spec Savers is a smallmedium enterprise which is working in The United Kingdom and run as family business.. It wasSpec savers is selling the Glasses, Sunglasses, Designer brands and contact lenses. This report isgiving the overview of the Spec Savers. By using the different models the growth anddevelopment stages of SME is explained (Ward, 2016). SWOT analysis of the company isconducted to develop a growth plan for the company.MAIN BODYBackground Spec savers is a private organization which is leading brand in Dispensing Opticiansindustry. Which is using the joint and or Shared venture Partnership to perform their business.The company mission is to earn the profit by selling the quality glasses and sunglasses to theconsumers. The Spec savers was established in year 1984 by Mary and Doug Perkins. Theproducts of the company are spectacles, contact lenses, Hearing aids and domiciliary sight. Thereare more than 30000 employees are serving the Spec savers.The parent company of Spec savers is Spec savers international Healthcare. Thiscompany have stores in united Kingdom Ireland, Netherlands, Spain, Australia, and NewZealand. It is also providing the Hearing aids since 2002. The Spec savers is providing theservices on more than four hundred locations. The owners of the company wants to keep thebusiness with in the family (Neubauer and Lank, 2016). The total revenue of the Spec savers infinancial year 2017-18 was 1.39 billions which was generated in UK. The globle revenue is riseup to 2.61 billions including the revenue generated form the UK. The revenue of the Spec Saversincreased with 7% all over world from 2016-17. To improve the performance of business SpecSavers added 300 new test rooms in U K and Ireland.SWOT AnalysisThe SWOT analysis is conducted to know the strength, weaknesses, opportunities ans thethreats of the organisation to develop a growth plan for the Spec savers.1
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