Managing Small and Medium Size Enterprise

This document provides insights into managing and running a small and medium-sized enterprise (SME). It covers topics such as the nature of entrepreneurs, SME start-up process, business concept, source of competitive advantage, current level of demand and competitive environment, growth and development strategies, challenges faced, and government support. The case study focuses on Pure Planet, a UK-based renewable energy company.

Managing small and
medium size enterprise
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Nature of the entrepreneur behind the venture............................................................................3
SME start up process...................................................................................................................3
Business concept and source of competitive advantage..............................................................4
Current level of demand and competitive environment..............................................................5
Growth and development of business till date.............................................................................5
Challenges in managing and running the business......................................................................6
SME current growth and development strategy..........................................................................6
Government support to business..................................................................................................7
CONCLUSION................................................................................................................................7
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INTRODUCTION
Entrepreneur is an individual which takes high financial and social risks to establish an
organization for performing business activities by which high revenue can be collected. Pure
planet is the chosen company for the analysis in this report. The company tends to provide
renewable energy based services to the wide range of customers at various geographic with UK.
With that evaluation on the SME start-up process and its effectiveness in terms of establishing an
organization is also being done within the report. Evaluation on the organizational approach to
maintain its growth and also with that analysis on the competitive environment of the corporate
is also being done within the report.
MAIN BODY
Nature of the entrepreneur behind the venture
Entrepreneur is responsible for establishing an organization for performing business activities by
which revenue can be generated. Steven Day, is the entrepreneur of Pure Planet UK which tends
to provide renewable energy based products to its customers. The entrepreneur is highly
motivated in terms of implementing creative and innovative approaches within the working area
and because of which it uses flexible work culture (Heesterman, 2019). Through this employees
are being provided an ability to implement their knowledge and understanding about various
fields within the working area to achieve new targets.
SME start up process
Develop business plan- This is the initial stage in which products and services are being
identified and overall business plan is being developed. Such that overall working process is
being decided, through this suitable steps can be taken in which overall working process can be
taken by which overall high work productivity can be achieved. This is also important for the
corporate because of the fact that suitable steps can be taken, such that
Business name and logo selection- Business name and logo selection, it is an important step for
the company because customers are able to segregate organisation from other market competitors
with the help of brand logo and name. Therefore company has to ensure that a unique logo and
name is being selected so that separate brand personality of the business can be developed.
Business structure selection- It is the structure in which organisational working process is our
being divided among employees and specific departments. The business structure it is necessary
for the corporate to develop because with suitable business structure it can ensure that it is been
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able to achieve required work productivity while influencing employees to take appropriate
innovative approaches for improving the overall uniqueness of individual product and services.
Setup billing system- SME's often have a large number of supply chain which consists of
several individuals like employer force as well. Therefore proper billing system has to be set up
through which appropriate salary structure can be implemented by which employees can be
assured that company is able to provide strong economic growth by which their level of
engagement with the corporate will be increase.
Business load- starting a company a higher amount of financial investment is required.
Therefore business loans is an effective approach through which companies can ensure that
proper fund availability is present in order to implement appropriate changes within the working
process by which desired target can be accomplished.
Legal legislations- This is the final stage in which all the legal formalities been fulfilled. It is a
necessary step because through this businesses can ensure that it is able to fulfil all the
government all criteria by which chances of facing financial penalties can be reduced (Assab,
2020). This also becomes important due to the fact that by fulfilling all the legal legislations
company can also register itself for take in the benefits which are been provided by the
government to improve business practices.
Business concept and source of competitive advantage
Mission- Together we are creating a sustainable future and helping to make UK to Net Zero
The overall business concept of the pure planet institute is the developer a network which
is completely working upon the use of renewable energy sources. With this approach the
company can ensure that it is being able to minimise the overall resource consumption for the
generation of energy. Therefore appropriate business approach is been chosen by the corporate
such that it is able to develop a positive image in front of the customers. With that the business
idea also is to provide digital control over the energy utilisation through the means of mobile
application and company website. The company is to be considered as one of the earliest digital
only energy suppliers within the country therefore because of this it is being able to achieve a
high level of brand awareness through which large customer base is being attracted toward the
corporate to maintain its sustainability within the Marketplace (D’Alpaos and Andreolli, 2020).
Since pure planet provide renewable energy based digital only electric supplies to the customers
through which it is being able to achieve an efficient competitive h by which loyalty of its
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existing customer base is increased while also providing and ability to attract the customers of
other market competitors as well.
Current level of demand and competitive environment
Pure planet it is one of the earliest UK based assembly which was successfully being able
to implement digital only energy supply. The company is being able to provide renewable energy
based products to its customers in such a way that they are able to monitor real time data of the
energy which is being provided to the customers. Since SME is able to implement innovative
steps because of which it is having high level of customer engagement in terms of utilising
organisational products and services.
Since your planet is one of the earliest company to take several innovative approaches
because of which it is having higher level of customer engagement. To increase the effectiveness
of the organisational offering, company uses several advertisement approaches as well by which
a large number of customer base can be attracted resulting higher organisational sales.
Growth and development of business till date
Pure planet organisation was being founded in the year 2015 and since then company is taking a
series of consecutive steps by which its performance within the market area can be improved.
This include is steps like providing and implementing several creative approaches by which it is
being able to ensure that new level of organisational working is being implemented in context to
traditional approach of businesses (Manesh and Rialp-Criado, 2019). It is also necessary for the
corporate due to the fact that since initially corporate provided several services like renewable
energy services to a specific group of customer due to which the overall energy consumption was
low. However several approaches has to be taken by the company to increase its energy supplies
to maintain the customer count.
Since High customer engagement was experienced by the company because of which
company implemented several other energy development approaches which include steps like
energy generation through solar energy, water and wind. With this wide variety of energy
generation approaches pure planet is being able to improve its working capability in such a way
that high level of customer engagement can be accomplished. Also the corporate uses several
other approaches as well which include smart control features as well in which customers are
able to control the energy consumption which allowed them to make suitable adjustment as per
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their requirement and due to which their expectation level are also high. With this approach the
overall revenue collection of the company is being increased drastically.
Challenges in managing and running the business
There are several challenges which are being faced by the corporate in order to maintain its
work productivity in order to maintain its sustainability within the market place. This happens
because of the fact that since Pure Planet tends to provide renewable energy based services to its
customers. Therefore because of which company faces limitations in terms of influencing
customers to switch to the new innovating based energy suppliers to fulfilling their requirements.
Therefore because of this some of the prime challenges which are being faced by the corporate is
in terms of attracting a wide range of customer base.
Technological limitations is also an important issues which is being faced by the corporate and
this happens because the overall amount of energy generation by the corporate is being limited
for providing services for a specific limited group. Therefore because of which company has to
implement an integrated system in which several renewable energy sources are being collected
(McQueen and Turner, 2020). By which suitable amount of energy can be generated and
therefore since various sources are being used because of which organizational expenditures are
also being increased. Expenditures are also being increased because of new technological
advancements have to be recruited by the corporate by the overall work synchronism can be
accomplished.
SME current growth and development strategy
Pure planet tends to provide renewable energy-based services to its customers at an cost effective
pricing. Since company often takes innovative approaches in terms of of improving its level of
services which are being provided at to the customers due to which it is able to take suitable
steps by which organisational services can surpass expected level of customer satisfaction and
can achieve augmented level. In order to achieve this pure planet provide digital only electric
supplies to the customers in which real time data is being achieved by the corporate through the
means of internet and various other communication channels (Terán-Yépez and et.al, 2020).
With this real time Data Company is able to take suitable steps within minimum time frame by
which variations within the service utilisation can be accomplished. This large Complex data is
being properly analysed with the use of appropriate software’s and development strategies are
being made accordingly.
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Pure planet uses several innovative approaches in which company provide real time data
monitoring to its customer as well through the means of mobile application and company
websites. With this approach the overall customer base of the corporate is increased and
provided efficient economic growth.
Government support to business
Since the company tends to provide renewable energy based services to its customers because of
this it is taking sufficient number of steps to minimize the natural resource consumption.
Therefore because of which the government also provide several associated benefits as well to
the corporate and this include advantages like tax relaxations. Due to this organizational
expenditure in terms of paying taxes and other governmental legislations are being reduced
(Aspelund, Fjell and Rødland, 2017). Therefore with this approach the government guarantees
that it is being able to motivate other market competitors to switch to renewable energy sources.
By which the overall resource consumption can be reduced and negative impact upon the
environmental conditions can also be reduced.
There are several associated benefits as well which are being provided by the government
which include several benefits like international exposure and simplicity for brand expansion in
the external market. Through this approach appropriate steps can be taken accordingly by which
higher work productivity can be accomplished in order to achieve desired target (Hahn, Spieth
and Ince, 2018). This is important for the corporate because of the fact that with this approach it
allows corporate a ability to increase and develop their global presence. Through which higher
organizational sales are being increased and because of which the overall market share of the
corporate is being increased.
CONCLUSION
From the evaluation it is being concluded that entrepreneur is responsible for starting an
business in which products and goods are being exchanged with financial pricing for the purpose
of achieving financial growth. This has to be done in such a way that organizational strengths
can be used to overcome its weaknesses by which high work productivity is being achieved. Also
with that it can also be concluded that corporate have to take appropriate steps by which higher
work productivity can be accomplished. This is can be accomplished by self evaluating
organizational work productivity and then developing suitable strategy for the improvement of
desired target.
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REFERENCE
Terán-Yépez, E. and et.al, 2020. Sustainable entrepreneurship: Review of its evolution and new
trends. Journal of Cleaner Production. 252. p.119742.
Hahn, R., Spieth, P. and Ince, I., 2018. Business model design in sustainable entrepreneurship:
Illuminating the commercial logic of hybrid businesses. Journal of cleaner production. 176.
pp.439-451.
Aspelund, A., Fjell, L. and Rødland, S.E., 2017. Doing good and doing well? International
entrepreneurship and social responsibility.
McQueen, D. and Turner, A., 2020. Emerging Green Values in the UK Energy Sector: Ecotricity
as Deep-Green Exemplar. In Values and Corporate Responsibility (pp. 129-163). Palgrave
Macmillan, Cham.
Manesh, S.M.Z.E. and Rialp-Criado, A., 2019. International ecopreneurs: The case of eco-
entrepreneurial new ventures in the renewable energy industry. Journal of International
Entrepreneurship. 17(1). pp.103-126.
D’Alpaos, C. and Andreolli, F., 2020, May. Renewable Energy Communities: The Challenge for
New Policy and Regulatory Frameworks Design. In INTERNATIONAL SYMPOSIUM:
New Metropolitan Perspectives (pp. 500-509). Springer, Cham.
Assab, A., 2020. Scaling up Renewable Energy Investment for Sustainable Development.
In Cases on Green Energy and Sustainable Development (pp. 95-112). IGI Global.
Heesterman, A.R.G., 2019. Renewable energy supply and carbon capture: capturing all the
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