Managing Small and Medium Enterprises: A Case Study of Marshfield Bakery
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This article discusses the challenges faced by Marshfield Bakery, a UK-based SME, and the strategies they can adopt to improve their performance and growth. It covers the nature of the business entity, start-up process, competitive advantage, growth opportunities, and more.
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MANAGING SMALL AND MEDIUM ENTERPRISES Course Name:Managing Small and Medium Enterprises
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INTRODUCTION The chosen company for this research paper is Marshfield Bakery. It is a UK-based SME and was established in 1984. This company is perfect for providing bakery home items which include cakes, biscuits, cookies, pastries, and seasonal goods. The company is located on Tolldown Barn Dyrham CHIPPENHAM. They export the products throughout the UK and other countries of Europe. The company has been in the marketing field for more than 35 years, till now due to a lack of strategies the company is unable to establish itself in the market. That is why the company has approached SWMAS so that they can support them in establishing their company in front of the market (Parekh et al, 2018). There is nothing to deny the fact that the company has provided all sorts of crunchy and delicious food items. SWMAS has helped Marshfield Company in addressing the fundamental problems for capacity, process planning and supply chain network. In the business studies, supply chain network refers to the activities related to managing the movement of commodities and services between the firm and different locations. This can incorporate the development and warehousing of in-process goods, unprocessed materials, completed products, and fulfilling the request of end consumers’ satisfaction from the starting place to the place of utilization (Mehdi et al, 2022). However, the team of the company is committed and trying to develop the supply chain across market with all their effort. The main concern for the company is to improve its operation and to make a strong platform in place for further growth. However, Marshfield is growing and has 1116 companies under the corporate family. The company is growing but due to its low performance, they are unable to give proper competition to the other companies. The Sims of the objective is to attract several customers with their unique marketing strategy. They need to follow some of the strategies to reach the customers (Bordel et al, 2022). Some of the projects of the company failed miserably while others became successful. FINDINGS Nature of the Business Entity Marshfield is a bakery company and it provides delicious food items which include cookies, cakes, biscuits and several other snacks. The company was at first owned by a small firm. However, slowly, the company started to expand their business with the help of support
help those makes such a menu that takes care of extraordinary eating regimen clients (Mehdi et al, 2022). The Company has confronted other variable elements like changes in unofficial laws. In addition, there were changes in the interest in the production network or expansions in the cost for the significant fixings like oil, refined flour, sugar, and so on. The entrepreneur of the organizationoughttoremembertheinformationregardlessofwhetherthereisany adjustment of the advertising strategy. Other than that, the organization didn't enlist proficient culinary experts which appear to be the serious issue for them (Pratminingsih, 2022). Other pastry kitchen organizations utilize the system of free dependability cards and different projects to draw in clients. The clients might want to get limits on the items. The costsought to bekept so thatthe organizationwouldn't cause anymisfortune.This methodology would help the company to get success in the competitive environment (Terentyev and Labutina, 2022). The growth and development of the business to date Marshfield bakery has faced many issues due to its small business operations, but with the help of government support, Marshfield has seen 25% to 30% revenue growth and development for many years. This brought the requirement for an augmentation that was finishedlastyearandhasmadespaceforadditionalinnovation,staffandcapacity. Marshfield depicts itself as among the best bakery, and supplies to hotels, resorts, shops and grocery stores across the country. It at present and manufacture more than 15 distinct bakery products along with shortbread and hotcake flavours, as well as loafs cakes, brownies and rolls, all impacted by the local customer tastes and trends. The expense of a portion of the merchandise presented by Marshfield bread shop is high contrasted with other pastry kitchen organizations. The items are valid for premium quality and scrumptious. Nonetheless, a few clients wonder whether or not to buy the items since they are costly. For that reason the organization need to take on the system with which they can decrease the cost. Diminishing the cost could help in getting clients to their stores. Then again, diminishing the cost doesn't mean compromising the nature of the items. This is the thing which the organization needs to prioritize on (Talvitie, 2021). The challenges of managing and running the SME One of the significant difficulties which the Marshfield pastry shop industry endures is that they ought to have a monetary chief who has sound information on baking. Bread
kitchen things are short-lived so on the off chance that those are not sold new then the cost goes down. Other than that, on the off chance that isn’t new then the expense goes down. Thusly it is essential to get to be aware of the charge of every item, and afterward just the group can sell the whole item without experiencing any misfortune. Other than that, the organization needs to zero in on their incomes so it can imagine progress from now on. There are such countless contenders all over the planet. In the bread kitchen industry, there are a few opponent gatherings on the grounds that many chain brands are growing their establishments. The presence of other pastry kitchen organizations made it intense for the little bread kitchen retailers and the new brands to support piece of the pie. For that reason it enormously affects the offer of bread kitchen shops wherever across the world. The organizationhasexperienceda pandemiccircumstance.Theyhad caused ahigh misfortune around then. Nonetheless, they have adapt up to those issues and presently their principal target is to procure incomes and to acquire clients (Mehdi et al, 2022). During the continuous pandemic circumstance from here onward, indefinitely quite a while, the organization has experienced a significant test. At the point when individuals are in uncertainty they believe bread kitchen things to be extravagance. To that end Marshfield endured issues like keeping up with the cleanliness and the rules for the limited scale bread kitchens. Another issue the organization has endured is that they couldn't pay the appropriate wages to their workers during the COVID circumstance. Normally, the businesses were profoundly disheartened with the assistance of the organization. Additionally, they have experienced a few different issues too. The organization guaranteed them to keep persistence. A portion of the businesses left the working environment while others went on annoyingly. Following two years of that episode, the organization had the option to set up the debate smidgen (Wangen and Martin, 2014). Assessment of current growth and development strategy Changing business sector requirements, quickly propelling technological growth and always changing expectations of customers means the organizations should consistently develop and further integrate frameworks and procedures to sustain themselves and stay successful. The present supply chain networks are comprises of progressively interconnected businessprocesses,companynetworks,ITframeworks,digitaloffices,innovative infrastructure and impact of technology on people. With developing intricacy and quickly changing economic situations, key inventory supply chain network requires such plans that separate "fast wins" from basic drives for achieving long term victories. Another significant
procedure that the organization ought to zero in on is to advance its business through a few channels. The organization can utilize online entertainment. These days practically all the netizens utilize web-based entertainment and they can without much of a stretch track everything about the organization. It will be useful for the organization to get clients (Mehdi et al, 2022). The hours of festivities and public occasions appear to be a decent procuring day for Marshfield. Thisworks on the openness of the organization.During these occasions, individuals are many times feeling happy. The organization remembers to enlist more individuals on these ends of the week or occasions so they can create their gains. Besides, the organization has likewise chosen to coordinate an occasion where they would distribute free examples of cinnamon buns and other bubbly treats. Social or sustainability goals The customer trends towards conscious health have increased their focus towards nutrient value of bakery products. The children are fond of bakery products. They always want to take the bakery products to school. That is why customers want to know nutrient values for the benefit of their child's health. However, if the bakery company wants to add extra nutrients to satisfy the customers' needs then it might prove to be a tedious job. Moreover, modifications often change the taste of the products (Pratminingsih, 2022). The Company also focuses on expanding to regional areas for improving socio-economic conditions. The organisation purchases its products directly from the local suppliers which makes it more fruitful for the local community. However, they need to know proper marketing strategy along with the local suppliers so they could have higher revenues along with supporting the profits of local suppliers. It will help them to get more customers, invite employment, society welfare and growth of the organisation as well. Moreover, the company is located in the areas that are good for all type of people where everyone can have access to its products irrespective of their living standards and incomes. However, they have also opened most of their stores in the main hub of the locality. Then only the customers can get to know about the stores. Growth opportunities for the SMEs chosen It's obviously true that Marshfield is a popular pastry kitchen shop in the UK. The organization could plan to begin their endeavour in different nations. For that they need incomes. At any rate the organization ought to contribute an enormous amount of cash and
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furthermore enlist an expert gourmet specialist. Employing proficient culinary specialists will help in getting ready delectable food things (Ham et al, 2020). The organization might begin an endeavour in Asian nations. Prior to beginning their business in Asian nations, it is vital to acquire information about the food propensities for those nations. Various nations have different food propensities. Also, Asia falls under tropical climatic circumstances. To that end a few nations think pastry kitchen things are extravagance. To that end Marshfield ought to get information about everything about those nations. CONCLUSION It has been concluded from the above discussion that an SME organisation faces many challenges to operate in the highly competitive market. It has been discussed that an SME company must develop a marketing strategy and concentrate on its development in a strategic manner. Moreover it has been discussed that an SME faces various challenges in the market that needs to be handled effectively. In this context certain recommendations are presented for the company to promote their business and corporation. Furthermore, it has been discussed that Bakery industry has been among the major SMEs providing growth. It has been obtained that SME organisations have gained benefits of government support to help them with their business and achieve better organisational growth. RECOMMENDATIONS Marshfield is a famous organization. The items which the organization produces are of top notch. In any case, for the development and advancement of the organization, it needs a few significant procedures. Some of the recommendations that could be made for improving the performance of SME are as follows. The main thing is to advance the business. SMEs frequently need advancing their business. Marshfield likewise deals with a similar issue. The organization ought to utilize web-based entertainment or different stages through which they can promote their business (Terentyev and Labutina, 2022). In addition, the organization needs to work on their administrations by focusing more on incomes. Other than that, Marshfield ought to likewise investigate the inward and outer variables of the organization (Al-Dayyeni et al, 2021). The company must use the government benefits to operate with more strength in the market because the policies of government to support SME development.
Mansfield ought to likewise draw in with different organizations and deal them a seat at a table. With this, it can give need to nearby difficulties and not escape from society. This will tackletheneighborhoodissues.Theabsenceofconnectionbetween'scomputerized frameworks as well as efficiency demonstrates probably won't be useful without building advancedabilities.Mansfieldisconfrontingsimilarissues.Itnecessitiestokeepa relationshipand should be the concentration.The organizationought to takecare of regardless of whether a studio is accessible nearby (Ham et al, 2020). Following the contenders is one more method for working on the business. The contendersarethereandtheyfrequentlyattempttheirnewinventiveapproachesto advertising to arrive at the client straightaway. Be that as it may, Marshfield ought to use the technique to know the strategy. It will be useful for them to connect (Pratminingsih, 2022). Another significant thing is that they need to keep a heartfelt relationship with the providers. Mansfield bought natural substances from a few providers. To that end they need to keep a decent relationship as it will assist with buying mass sums at low costs. Giving limits on the items is one more proposal for the organization. It probably won't be another organization however absence of headway and other framework are liable for making it another engraving on the clients. For that reason the organization needs to give limits and other energizing elements so the clients can assemble and come to the shop. Marshfield gives new items to the clients, in the wake of really looking at the quality. The food thing frequently gets spoiled in the event that not taken appropriate consideration. To that end Marshfield ought to contribute time and incomes to really take a look at the quality and to give them according to the craving of the clients. The client care administration of Marshfield Company isn't sufficient. They need to work on the nature of the help so clients can reach out to them frequently.
REFERENECES Books and journals Al-Dayyeni, W.S. and et. al., 2021. A Review on Electronic Nose: Coherent Taxonomy, Classification, Motivations, Challenges, Recommendations and Datasets. IEEE Access. Bordel, B. and et. al., 2022, February. Increasing the Efficiency and Workers Wellbeing in the European Bakery Industry: An Industry 4.0 Case Study. In International Conference on Information Technology & Systems (pp. 646-658). Springer, Cham. Ham, S. and et. al., 2020. Linking creating shared value to customer behaviours in the foodservice context. Journal of Hospitality and Tourism Management, 43, pp.199- 208. Mafazi, M.A., 2018. Capital Budgeting Analysis in Digital Marketing Activities at Yes Cake & Bakery. International Journal of Business Management & Research (IJBMR), 8, pp.1-8. Mehdi, M.M. and et. al., 2021. Entrepreneurship and innovation in the bakery industry: A case study of Ganesh Bakery. FIIB Business Review, p.23197145211020720. Parekh, N. and et. al., 2018. Associations of parental self-efficacy with diet, physical activity, body composition, and cardiorespiratory fitness in Swedish preschoolers: results from the MINISTOP trial. Health Education & Behavior, 45(2), pp.238-246. Pratminingsih, S.A., 2022. MARKETING STRATEGY AS AN EFFORT TO MAINTAIN THESUSTAINABILITYOFTHECOMPANYATHROUGHTPRODUCT QUALITY,PRICE,ANDBRANDIMAGE.CENTRALASIAANDTHE CAUCASUS, 23(1). Talvitie, S., 2021. Creating a marketing strategy for a new business: case Hygla bakery. Terentyev, S.E. and Labutina, N.V., 2022, February. Features of technology for producing bread and bakery products from frozen semi-finished products. In IOP Conference Series: Earth and Environmental Science (Vol. 979, No. 1, p. 012025). IOP Publishing. Wangen, J. and Martin, D., 2014. Analysis on the Impact of Ethnic Diversity within Businesses from Two Cities: Eau Claire and Marshfield, with a Focus on Three Main Business Categories: Restaurants, Hospitals, and Manufacturers.
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APPENDICES Appendix 1 Reflective Journal Week OneDuring this week I learnt about the SMEs and their business activities related to profit generation and competitive growth. Week TwoDuring the second week I learnt about the operational activities that a person needs to perform to run a small business effectively. Week ThreeOrganisational management was taught during this week where I learnt about the functions that are necessary to operate a business. Week FourBusiness environment factors were understood during this week that help to contemplate the force affecting SME operations. Week FiveThe evaluation of the Start-up strategies was done during this week where we understood how start-up is done. Week SixCompetition in the market is strong and this week was about the learnings of the completion in the market. Week SevenThis week was helpful to understand about the sustainability objectives like CSR and PR ethics that could help the SME growth. Week EightGrowth opportunities for SME were discussed during this week that consisted of various opportunities to enhance business performance. Week NineVariousmodelsandframeworkswereunderstoodtodeterminethe activities of SME businesses. Week TenLast week was about the closure or winding up of the SME operations by which the organisation can move to another businesses.