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Analysis of the performance of J&S Furniture

   

Added on  2020-02-05

21 Pages6158 Words152 Views
Running head: SMALL BUSINESS ENTERPRISESMALL BUSINESS ENTERPRISENameInstitutions Name

SMALL BUSINESS ENTERPRISE2ContentsINTRODUCTION...........................................................................................................................................3LO1 Investigation of the performance of J&S Furniture..............................................................................31.1 Produce a profile of a J&S Furniture identifying its strengths and weaknesses.................................31.2 Carry out an analysis of the business using comparative measures of performance.........................6LO 2 Ability to propose changes to improve management and business performance...............................92.1 Recommend with justification, appropriate actions to overcome the identified weaknesses in the business...................................................................................................................................................92.2 Analyse ways in which existing performance could be maintained and strengthened....................102.3 Recommendation with justification, new areas in which the business could be expanded.............11LO3 Be able to revise business objectives and plans to incorporate proposed changes...........................133.1 Produce an assessment of existing business objectives and plans..................................................133.2 Revise business plans to incorporate appropriate changes.............................................................143.3 Prepare an action plan to implement the changes..........................................................................15LO4 Be able to examine the impact of change management on the operations of the business..............154.1 Report on the impact of the proposed changes on the business and its personnel........................154.2 Plan how the changes will be managed in the business..................................................................16...............................................................................................................................................................174.3 Monitor improvements in the performance of the business over a given timescale.......................18References.............................................................................................................................................20

SMALL BUSINESS ENTERPRISE3INTRODUCTIONA manufacturing company which is named as J&S Furniture, it is involved in manufacturing furniture in its business. The time of initiating the company is in the year of 2006. The organisation is located at 51 commercial street morley ls27 8ag, UK. Almost 150 employees are working in this company. They have so many regular customers who demanded office and kitchen furniture at the most. At this period the company has started to manufacturing items. This report covers the strength and weaknesses of the cited firm and the business plan is described. The impact of the business plan on the performance of the organisation has also covered in this framework. LO1 Investigation of the performance of J&S Furniture1.1 Produce a profile of a J&S Furniture identifying its strengths and weaknessesA manufacturing company which is named as J&S Furniture, it is involved inmanufacturing furniture in its business. The company has been initiated by two brothers. Thebrothers who are the names of incepting the company which manufactures furniture, J&SFurniture, are John and Smith. The time of initiating the company is in the year of 2006. Theorganisation is located at 51 commercial street morley ls27 8ag, UK. Almost 150 employees areworking in this company. They have so many regular customers who demanded office andkitchen furniture at the most. At this period the company has started to manufacturing items. Theraw materials of the company have been brought from some other portion of the world; fromAsian countries, the company brings its raw materials. The raw material of a furnituremanufacturing company would have to be wood, the market of wood is much powerful at Asiancountries that are why the company imports its raw materials which are wood and relevantproducts to manufacture furniture. The company of J&S Furniture gets a lot of profit through thisbusiness, in every month the company has gotten a lot of turnover in every month. As thecompany, J&S Furniture buys a huge amount of raw materials from Asian countries, and it gets asatisfied number of discount of importing the woods and related products. The more amount ofthe company buys, it gets the similar range of discount the reason of getting a lot amount ofdiscount has been described so that the investment cost of the company reaches a situation wherethe maturity of the company being beneficial. (Michaelson, 2011) The company, J&S Furnituregets a lot of benefit by buying the products in a huge amount. There are several other conditionsand terms which are needed to be maintained by the company, one of these terms are named asgovernment legislation. (Dale, Stephanou, & Xanthaki, 2008) There are other variant clauses to

SMALL BUSINESS ENTERPRISE4be defined, the taxation policies of importing raw materials from another continent; to be moreprécised from Asian countries. Sometimes it may happen that the company gets a lot of negativeimpacts according to such terms and several conditions which have been told previously. Thegovernment always puts variant taxation policies upon importing goods from different countriesso that the company of J&S Furniture has to go through different legislative factors according toseveral conditions as well as terms. Other than this the government frequently amendments thelegislations and codes to evaluate the benefits of itself from those all companies which importtheir goods from another continent or variant countries. J&S Furniture develops its strategiestowards maintaining their business policies which are termed over the factors of taxation policiesas well as government legislations. (Qu, & Yang, 2012) On the other hand, the management ofJ&S Furniture needs to focus on their interior and decoration segment of their showroom oroutlet where the customers are visiting directly. To impress a walking customer, J&S Furnitureneeds to display some attractive and smart furniture in the front of the showroom. As a result, thebrand of the organisation needs to support their concern by attracting different kinds of buyers aswell as the customers of their company. The company of J&S Furniture has the specific range ofcustomers, along with this the company can evaluate variant products so that the profile of thecompany can reach up to various types of needs of the customers. (Noe, 2013) By this strategy,the company can expand its business through all over the world. As soon as the company canattract more genre of people, the reputation of the company would go to a higher position in themarket, and by the help of this method, J&S Furniture can spread their business in all over of themarket. The market for furniture manufacturing company is already at a higher range of businessso that the development of the company of J&S Furniture would be more variant in their genre ofbusiness and the market of J&S Furniture and their business would be globalised soon. There are some specific strengths and weaknesses of the company which is mentioned here bythe name of J&S Furniture Company. The company evaluates its different strengths so that thecompany can enhance their strengths towards the development of their company. On the otherhand, there are some definite weaknesses also in what the company needs to put an extraobservation so that the company of J&S Furniture can maintain their weaknesses according totheir policies of management in the company.SWOT AnalysisSTRENGTHSJ&S Furniture Company is one of theleader's companies in the businessWEAKNESSESThe company of J&S Furniture faces alot of problems according to its

SMALL BUSINESS ENTERPRISE5industry of furniture manufacturing. Itis the cause for what the company needsto maintain its reputation at the marketof furniture manufacturing. (BARTA,2016)The company runs a huge market sharearound the world. This is the reason ofwhat the company has got a huge rangeof profit at the business.J&S Furniture Company always offerstheir customers a huge range of serviceso that the consumers or the customersget much satisfied and the reputation ofthe company reaches a higher range inthe market of the business of furnitureindustry. (Yoo, Park, & Choi, 2015)There is another point to be mentionedwhere the company offers theircustomers a lot of huge offers in atmuch low cost. Thus that the companygets more beneficial; by the form ofreputation in the market ofcompetition level in the market. Thecompany needs to get some reliable ortruthful suppliers so that J&S FurnitureCompany can be more beneficial forthe business in the market. The company is needed to choose theirmarket at much careful observation,rather it should be mentioned that theplace of a market would have to bechosen by a pair of expert eyes.The company of J&S Furniture is asmall business organisation that is whyit is not able to borrow from the marketthough it can get a huge amount ofdiscount for buying their raw materialsin the business. So that the companyneeds to expand the business at thishigh competitive market. (Salvador,2015)Once the company gets a lack ofreputation in their business, it may be ahuge issue towards the market of J&S

SMALL BUSINESS ENTERPRISE6manufacturing the furniture.J&S Furniture Company has so manycompetitors as it is one of the leadingcompany in the market of furnituremanufacturing as well as it is runningthrough its maturity stage of business.The company always puts a lot of offersthan other furniture manufacturingcompanies in the market. Other thanthis it is also mentioned the offerings ofthe company comes at a low cost and itis also the reason of being beneficial forthe company. Furniture Company, so that thecompany needs to maintain itsreputation forever. The company ofJ&S Furniture is one of those leadingcompanies in the earth according to thebusiness of furniture manufacturingcompanies so that the companies needto compete it with their strengths andthe rival company would try to damagethe reputation of J&S FurnitureCompany. And this way the companyhas to prevent the reputation of itselffrom damaging the reputation.OPPORTUNITIESJ & F furniture can grow their businessin different places with the new range ofproducts. They can design new structureusing the new technologies.Company can have more exposure inthe furniture market as if they will applynew strategies and plan on theirbusiness. THREATSThe business industry have highcompetitiveness so new entrants canovertake the business of J&F furniture.New technologies can impact on theeconomy of J&F furniture that canaffect the productivity of theorganisation. 1.2 Carry out an analysis of the business using comparative measures of performanceIt is known in a huge reputed way that the company performs through a nice way from the inception of its business. J&S Furniture Company has got many ups and downs throughout its birth stage, growth stage as well as maturity stage. Once the company gets to fall down in its

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