Small Business Success Factors
Added on 2020-02-05
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SMALL BUSINESS ENTERPRISE
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Profile of Swing patrol Ltd....................................................................................................31.2 Comparison of the business performance of Swing Patrol with rival firms..........................5TASK 2............................................................................................................................................72.1 Appropriate actions to overcome weakness..........................................................................72.2 Ways in which existing performance can be maintained......................................................82.3 New areas in which firm can expand its business.................................................................8TASK 3............................................................................................................................................93.1 Assessment of existing business objectives and plans..........................................................93.2 Reviewing business plans and suggesting areas of improvement.......................................103.3 Preparation of action plan to implement changes................................................................11TASK 4..........................................................................................................................................114.1Impact of changes on the business and personnel................................................................114.2 Plan in order to manage change...........................................................................................124.3 Improvement of business performance of the Swing Patrol Ltd.........................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONIn today era, business conditions become highly complex and it is difficult for most ofpeople even to start the business enterprise. There are number of entrepreneurs that open theirbusiness but after some time same get wind up. This happened because right approach is notfollowed to run a business. In the current report small business firm Swing Patrol Ltd isanalyzed. In this regard profile is prepared and business strategy that firm must followed isdetermined. The impact that implementation of proposed strategy have on the business firm isidentified. Changes that need to be made in these proposed changes is ascertained and its finalimpact on the firm is determined. In this way, entire research work is carried out.TASK 11.1 Profile of Swing patrol LtdEntrepreneurs are different from the other people because they are highly intelligent peopleand one of the largest risk taker. With passage of time many new business firms are coming inexistence. It is very important to understand new startups, the areas where they are weak andsteps that can be taken to improve their performance. In the current report Swing Patrol is takenin to consideration and its business profile is given below.Business nameFirm that is selected for the analysis purpose isSwing patrol whose business idea wasprojected by individuals in the Dragon denseries (Smallbone and et.al., 2010). Mentionedfirm is operating a dance academy wherevaried sort of dances are teach to theindividuals. It can be said that Swing patrol isoperating in entertainment industry.Structure of ownershipIn the firm there are two individuals that aremanaging entire business operations. Name ofthese two relevant entities is explained below.Scott Rowan: He is the individual which is thedirector of the firm and responsible for giving atraining to the students. In the year 2008 in the
month of September he become director of thementioned firm and play a great role in makingit successful.Claudia anna: Mentioned entity is anotherdirector of the firm and responsible forinstructing trainees. He is also the director ofthe mentioned firm. Firm history since its incorporationSwing Patrol commenced its operations in theyear 2008 under which it start providing dancetraining to the school level students. Alongwith this, entertainment services are alsoprovided by the dance academy to the students(Goss, 2015). By doing so it retain students inthe academy and this lead to elevation ofearning in the business. ActivitiesThere are number of business related activitiesthat are performed by the Swing patrol in itsbusiness. As part of activities dance classes areorganized on daily basis. Moreover, variedevents are also organized in order to giveopportunity to the students to present theirdancing skills in front of the people.Entertainment related activities are alsoperformed by the firm which positively affectsits growth rate.Business locationBusiness firm is headquartered in the Londonand its current address is Maggle QulgleyBookkeeping 5 Tunstall Studios, 34-44Tunstall Road, London, SW9 8DA.Strong and weak pointsStrong areasThere are varied strong points of the businessfirms and some of them are explained below.
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