Process Involved in Running a Small Business

This presentation discusses the process involved in running a small business and focuses on the impact of proposed changes on the business and its personnel. It also provides insights on managing changes and monitoring business performance. The case study of Talon Outdoor, an advertising company, is used to illustrate the concepts.

PROCESS INVOLVED IN
RUNNING A SMALL
BUSINESS

Introduction
 Achievement of success in an organisation is
through the better understanding of the society
and the proper understanding of the
employees in the organisation. it is essential
to understand the strength and weakness of a
small business and the mitigation methods of
those weakness and transforming them into
strength. The following assignments have
dealt with the edification of strength and
weakness in the organisational society. It is
also dealt with the swot analysis of the Talon
Outdoor, who deals in with advertisement.

LO4
TASK 4

4.1) Reporting on the impact of implementation
of proposed changes on business and its
personnel (AC 4.1)
 With implementation of the proposed changes in the
organisation there has been a higher development of the Human
Resource Management which provides mode operation of the
organisation and the business sector in the society. It is evident
that with the implementation of the proposed changes the
proper satisfaction level of the customers have increased and
made the products of a higher reputation.

4.2) Plan for the managing of the
changes in the business ( AC 4.2)
 As supported by Hofe, (2016, p.210), Joh kotter’s and Kert Lewin’s model can
be used for the smooth understanding of the developing changes in the
organisation. In terms of Ker Lewin’s model the organization elementarily
needs to be clear of the fact regarding the mentality of the employees of the
organization in the view to accept changes in the organization.

4.3) Monitoring of the performance of the
business in a given time scale (AC 4.3)
 As supported by Shinde, (2016, p.175), monitoring of the
performance in the organisation helps in the smooth development of
the organization and the better understanding of the changes
required in the organization. The operation of the organization needs
to be so developed by the organisation that the opportunity needs to
be developed by the organization must be well formed and
mannered.

Conclusion
 From the above assignment it can be concluded that Proper
understanding of the effect of small factors and measurable
importance of those factors have created great and differences in
gaining competitive advantages. It is essential for the
organisation to understand the strength and weakness which
would provide set for the objectives required for better
development of the organisation. The assignments have also
made clear that the business performance of an organisation is
based upon the multiple factor including Human Resource
Management and proper understanding of the financial
statements of an organisation.

References
 Salazar, S., Oliver, C., Yáñez, A.J. and Avendaño-Herrera, R.,
(2016). Comparative analysis of innate immune responses to
Streptococcus phocae strains in Atlantic salmon (Salmo
salar) and rainbow trout (Oncorhynchus mykiss). Fish &
shellfish immunology, 51, pp.97-103
 Hofer, C., (2016). The Evolution of Business Plans in
International Business Plan Competitions. In Models of Start-
up Thinking and Action: Theoretical, Empirical and
Pedagogical Approaches pp. 145-211
 Shinde, A., (2016), January. Challenges in performance
monitoring of hyper connected IoT systems. In Internet of
Things and Applications (IOTA), International Conference
on (pp. 174-178). IEEE