Report on Small Business Enterprise- Holiday Extra UK

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SMALLBUSINESSENTERPRISEUNIT 33
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Profile of selected business along with its key strengths and weaknesses............................31.2 Analysis of business using comparative measures of performance.......................................4TASK 2............................................................................................................................................52.1 Appropriate actions to overcome the identified weakness ...................................................52.2 Ways of existing performance maintained and strengthened................................................62.3 New areas of Holiday Extras which the business could be expanded...................................7TASK 3............................................................................................................................................83.1 The existing business objectives and plan of Holiday Extra ................................................83.2 Revise business plans to incorporate appropriate changes....................................................93.3 Prepare an action plan to implement the changes................................................................10TASK 4.........................................................................................................................................114.1 The impact of the proposed changes on the business and its personnel .............................114.2 Plan how the changes will be managed in the business.......................................................124.3 Monitor improvements in the performance of the business over a given timescale............12CONCLUSION .............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONIn the modern era, development of small business has become important for the growthand success of an economy. Furthermore, such kind of business contributes high by deliveringdifferent products, services and creates employment opportunities in a nation (Burns, 2010). Thepresent research report is based on Holiday Extra which a small business enterprise operating inUK. This study highlights the core strengths and weakness of the organization. Along with this,it also analyses the Holiday extra various comparative measures of performance. At present,hospitality industry in which the selected business is operating has become highly competitiveand this has resulted in creating obstacles in increasing sales and profits Nowadays, companiesare required to carry out aggressive marketing and deliver satisfactory services to attract morenew customer and retain old ones. The most appropriate actions which can be used to overcomeidentified weakness of Holiday extra are also mentioned in the present study. TASK 11.1 Profile of selected business along with its key strengths and weaknessesThe selected business enterprise which is Holiday extra, a group hotel which is locatednear airports to provide services related to food and accommodation. At present, the hotel isdoing well and it is focusing upon delivering most satisfactory services to all its clients. The ideaof starting hotel initially came in the mind of Gerry pack where he noted travellers are not able tofind good place for food and accommodation near airport. After working upon this problem forsome time, he decided to open airport hotel to deliver effective services to the traveller at veryconvenient prices. The key strengths and weaknesses of Holiday extra are mentioned below as: Strengths: Innovative culture of Holiday extra can be termed as one of its major and keystrength. Here, the business has developed an open culture which always promotesinnovations and creativity. This means employees are encouraged for giving highlycreative ideas to carry out operations and serve customers (Carter and Evans, 2006). Theculture has supported Holiday extra to create sense of satisfaction among its workers andretain them for long run. On the other side of this, high quality of services which has been
provided by Holiday extra can be termed as another major strength of the company.Quality services at very convenient prices have helped the small business enterprise toincrease its sales and profits by creating satisfaction among all its customers (Dobbs andHamilton, 2007). Weakness-Lack of technology and inexperienced staff member are the two majorweaknesses which have been faced by Holiday extra. This has created several kinds ofrestrictions in increasing sales and profits of the same. In order to sustain in highlycompetitive market, it is required by the company to work upon to adapt high endtechnology and deliver effective training sessions and development programmes to all itsemployees (Hatch and Cunliffe, 2013). 1.2 Analysis of business using comparative measures of performanceIn the modern era, every business enterprise is required to carry out their analysis at theregular intervals. The rationale behind this is that effective analysis supports them in gettingaware of their key areas which need to be improved (Down, 2010). In addition to this, such kindof evaluation plays important role in determining effective future strategies. Holiday extraanalysis using comparative measures of performance is carried out below as: Customer satisfaction- After carrying out the assessment of Holiday extra customersatisfaction, it can be stated that the rate of its customer satisfaction is appropriate. Mostof the time, travellers at airport wants fast, accurate and satisfactory services related toaccommodation and food should be provided to them. The small business keeps workingon its quality of services and also initiates to make required changes in the same. Marketing tools- At present, the company is using traditional marketing tools such asadvertisement on television, newspapers and promotional events. This means modernmarketing tools such as social media marketing, online, email marketing are not used bythe small business. This has somewhat created restrictions in increasing sales and profitsof the business enterprise (Gronum, Verreynne and Kastelle, 2012).Financial data – It is another comparative measure of performance which can be used toevaluate the business enterprise (Hamel, 2008). After assess its financial data, it can beexpressed that in last few years the sales, profit and market share of Holiday extra has

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