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Small Business InTRODUCTION 3 TASK 13 P1 How small business can develop transnationally

   

Added on  2021-01-02

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FinanceLeadership Management
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Managing andRunning a SmallBusiness
Small Business InTRODUCTION 3 TASK 13 P1 How small business can develop transnationally_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Considerations needs to address when planning and allocating resources to achievebusiness objectives......................................................................................................................3TASK 2............................................................................................................................................4P2 Different process of customer relationship management.......................................................4P3 How small business can develop transnationally and determine benefits and drawback .....5TASK 3............................................................................................................................................6P4 Annual itemised monthly cash flow forecast showing fixed and variable costs set againstincome.........................................................................................................................................6P5 Break-even analysis could applied to an organisational situation ........................................7P6 Financial statements in relation to how they contribute to the successful management ofthe organisation...........................................................................................................................8TASK 4 .........................................................................................................................................12P7 Key legislation and regulation.............................................................................................12CONCLUSION .............................................................................................................................13REFERENCES..............................................................................................................................14
Small Business InTRODUCTION 3 TASK 13 P1 How small business can develop transnationally_2

INTRODUCTIONSmall business is privately owned organisation which have few employees as well asgenerate less revenue in comparison of other regular size association. At present, small scaleassociation help in growth of economy by offering employment opportunities to several peoples(Adisa, Abdulraheem and Mordi, 2014). This report is based on, The little one Coffee shoplocated in London and serving products like coffee, muffins, espresso, crepes and so on.Respective shop don't have much space but they provide seating to their customers. This assignment will going to discuss requirement of small business while planning andallocating resources. In addition to this, report will highlight several process related to customerrelationship management along with this how small business can develop transnationally alsodiscuss with its benefits and drawbacks. Moreover, for managing success of corporation break-even, financial statements and cash flow will described. In the end, legislations and regulationwill be discuss which have to follow by small business. TASK 1P1 Considerations needs to address when planning and allocating resources to achieve businessobjectivesSmall scale organisations are those which privately owned and there are not more than 50employees as well as there sales volume is less in comparison of other scale association. Suchcompanies don't have high budget, thus for them it is important to consider all essential factorsbefore business operations as well as resources allocation. There are some major considerationwhich The Little One Coffee Shop have to undertake at the time of planning as well as allocatingresources for accomplishing objectives of company. Explanation of these are as follows :- Ability and skills of employees – It is crucial for organisation to analyse skills andability of there employees before allocating the resources. So that, allocation will be donein effective manner and result in accomplishing objectives (Anderson and Ullah, 2014).Such practices will result in eliminating resources wastage and result in bringingeffectiveness within firm. In addition to this, it also result in gaining competitiveadvantages over competitors within market area. Thus, it result in accomplishing goal ofThe Little One Coffee Shop effectively as well as efficiently.
Small Business InTRODUCTION 3 TASK 13 P1 How small business can develop transnationally_3

Physical Resources – These are tangible resources of organisation and all these arenecessary as well as available for conducting business function. Physical resources aremainly inventories, storage information system, equipments and so on. It is important formanager of The Little One Coffee Shop to evaluate there available physical resources andafter that allocate them in effective manner. So that, daily basis operations will conduct ineffective manner without wastage and over utilisation of available resources. TASK 2P2 Different process of customer relationship managementCustomer relationship management is the tool which utilise by an organisation whileinteracting with their current as well as potential customers (Bridge and O'Neill , 2012). For longterm sustainability and generating revenue it is important for an business firm to build relationwith customers and convert them into loyal. Main motive of customer relationship managementis to gather important information about customers which help them in making satisfied. There isproper process of CRM for The Little Coffee Shop explanation are as follows :- Set a target – Within CRM first step is to identify goals and after that do planning afterthat for accomplishing setted predetermined goals. Main target of he Little One CoffeeShop is to accomplish high market share and to maintain wide network for distributionaround United Kingdom. Prioritize customers -In next step manager of company will prioritize their customerbase for identifying that how profitable they are. For example, for an organisationreturning customers are valuable. Thus, as per traits of customers they are segmented sothat CSR efforts will be implemented for building long relation. Communicate with employees – Next step after prioritizing is to implement strategywhich has been designed for improving customer relation. Within this, The Little OneCoffee Shop involve their employees also for designing effective strategy. Track customers – Next step is targeting customers as company should have to try forgathering information related to targeted customers. This can be possible through socialmedia or by identifying their views related to offerings. It will assist in analysing demandof customers as well as their expectations towards company's offering.
Small Business InTRODUCTION 3 TASK 13 P1 How small business can develop transnationally_4

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