Small Business Success Factors

This assignment delves into the critical factors that contribute to the success of small businesses. It examines various challenges faced by entrepreneurs and analyzes effective strategies employed to overcome these obstacles. The essay also explores the impact of external factors on small business performance and provides insights into sustainable growth practices.

Small Business
Organization

TABLE OF CONTENTS
INTRODUCTION..........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Create profile of Tpp and also identifying its various strength and weakness......................3
1.2 Carry out the study in which measure the comparative performance...................................4
TASK 2............................................................................................................................................4
2.1 Appropriate action to overcome the weakness......................................................................4
2.2 Analyses various way in which Tpp can maintain strengthened in the market trend...........5
2.3 Various scope in which Tpp can expand its business...........................................................6
TASK 3............................................................................................................................................6
3.1 Produce an assessment of existing business objectives and plans........................................6
3.2 Revised business plan to incorporate changes......................................................................7
3.3 Action plan to implementation various changes...................................................................8
TASK 4............................................................................................................................................9
4.1 Impact of proposed changes on the business and its personnel............................................9
4.2 Change management in the business ....................................................................................9
4.3 Monitoring improvements in the performance...................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
In small business, number of employees and its annual sale is not high. Mostly, all these
organisations have their own representatives owner who decision regarding business and take
initiative towards the growth. Small enterprise assists in forecasting local economic in which
these entities provide various jobs to the individual. These private company not depending on
any other because they do not dominate with any other so that they may not have big source of
finance. The present report is based on The Phoenix Partnership which is software organization
that produces clinical software for the medical stores. This report will discuss various strength
and weakness so that consultant can measure the performance of hotel. According to the
evaluation , management of the entity can justify that how can they overcome with their
weaknesses so that they can prove their strength in the market trend (Hammer, A. and et.al.,
2010. Small and Medium-Sized Enterprises. [PDF]).
TASK 1
1.1 Create profile of Tpp and also identifying its various strength and weakness
Profile of The Phoenix Partnership hotel
General Business information
 The Phoenix Partnership
 TPP House, 129 Low Lane, Horsforth, Leeds, LS18 5PX
 Contact number: [phone]
 Email: [e-mail]
 http://www.tpp-uk.com/contact-us (Website Address)
Business Details
 Tpp is software Development Company which designs clinical software to their client.
 Tpp is a small enterprise which is established in UK market
 They provide best health care software to their client.
Strength of Tpp
 Tpp also focus on customer services to make their customer satisfied with their services.
 Its special service is also attracting its customer in which customer’s clinical data is
secured by the respective healthcare entities.

 Its innovative and improved work is another strength in which they develop patient’s
portal which assist the individual in providing information (Management Team. 2015).
Weaknesses of Tpp
 Tpp also has various drawbacks that are not manageable by the entities such as lack of
financial resources because of which they are not able to take the initiative towards the
new techniques.
 The entity has various competitors which uses smar techniques because of which Tpp
affects with the less sale.
 Reducing demand is also affects the business in which its old techniques impacted on the
less demand in the Entity (Cassar, Ittner and Cavalluzzo, 2015).
1.2 Carry out the study in which measure the comparative performance
With the help of various methods management, Tpp can evaluate its comparative performance
so that they can apply this to their organisation.
Customer survey: With the help of this method, management can create survey and
according to this management can identify its needs and expectations which will assist in better
management. In UK, various small companies are present and they can provide various services
to its customer. With the help of this tool, management can identify the individual needs and its
various expectations from the company (Goss, 2015). With the help of this method, organization
can achieve the target market in which they can find out all that customer who needs clinical
software with better improvements.
Financial statement: The best way of evaluating performance is observing old data and
according to that they can take initiative towards enhancing the level of performance. In addition
to this, management can observe its working capital and its profit ratio which can show actual
picture about the organization.
TASK 2
2.1 Appropriate action to overcome the weakness
The Phoenix Partnership is a clinical software company who sells its data storage
software to its healthcare clients. For this, the company is facing various serious issues that must
be solved earlier. Apart for this, manager of Tpp need to forecast so that they can develop
various ways to solve its problem that is listed as follow:

 Tpp is required to develop its customer segmentation in which they can focus on the
better techniques which will assist in storing big data in patient’s portal as this will help
in gaining customer satisfaction. In addition to this, when entity follows these ways
towards the development then its stakeholders also invest in the business (Longenecker,
Petty and Hoy, 2013).
 If Tpp management can hire new technical representative they can develop updated
technology and these are affordable by the entity so in that case, the organisation will not
face any barrier related to technology.
 Tpp also use various workshops in which they can develop various training and
development sections for their employee. These types of training will provide lots of
knowledge about their software. Perfect knowledge will assist in better management in
which individual can develop their ability to proof itself in front of the customers
(Loader, 2013).
 Tpp can also adopt different planning in which they can expand their business and for
this they will require new staff that can manage the demand and supply chain in the
workplace. Expansion of business leads in the right way when the entity can focus on the
employee and its demand.
2.2 Analyse various way in which Tpp can maintain strengthened in the market trend
For any entity, it is hard to maintain its strength in the marketplace. Tpp having the good
image in front of its customer is important to manage it for a long time. The management has to
focus on its each department which assist in maintenance. Manager of Tpp must focus on its
current strategic review, and according to that, they can upgrade the techniques for its better
future growth. Here various points are listed below that shows how Tpp can stand in the market
place:
Feedback: With the help of feedback, manager of Tpp can identify the current working
performance and according to that they can find out the appropriate solution. Further, the
manager should focus on internal working in which Tpp can emphasize on employee
performance (Childress, 2016). Feedback is tools that assists in evaluating positive and negative
both factors so that management can stand in the marketplace for the long term.

Budgeting: With the help of Utilisation of financial resources, manager of Tpp can
reduce its wastage of money. In regards to that, company can also develop its way of working
when its financial resource is appropriately managed (Bean, 2015).
Continuous evaluation: With the help of monitoring and by evaluating the manager, Tpp
can review its daily working in which management can use 360 degrees which will aid in
knowing about its employee strength. If the manager of Tpp knows about its employee so that
they can concern with better utilization of capability (Marom and Lussier, 2014).
2.3 Various scope in which Tpp can expand its business
Tpp has various scopes in which they can expand their business with the help of i
operations and its innovative ideas that take place by the management. For development in
market trend, company has to take initiatives towards the same. In this, entities must use
diversification and expansion for the business which aid in enhancing their way of working. In
this, Tpp can also expand all the services that are required for the organization. In this, Tpp can
also launch new software which must easier and cost saver for its customers. For this Tpp can
develop software that having additional quality (Kraemer-Eis, Lang and Gvetadze, 2013).
According to the present requirement, the company can develop its working in which they
focus on the cloud computing and big data. With the help of these new dimensions, management
can enhance its base in which a large number of consumers included in this. As per the market
requirement, if Tpp focuses on way of working so that it can include that is significant for the
entity. Tpp can adopt new techniques in their business parts because in new techniques with new
design can attract its customers. In today's era various organisation use software system because
it create work in easy manner. Mostly healthcare companies use this because they also want to
secure its patients data in confidential manner. Furthermore, the satisfactory reputation can be
made by adopting the promotional tools such as word of mouth strategies, etc. on behalf of the
Tpp Company (Brooks, Heffner and Henderson, 2014).
TASK 3
3.1 Produce an assessment of existing business objectives and plans
In respect to considered objectives and plans in The Phoenix Partnership, it is important to
create successful operations in the business. It is helpful to develop high satisfaction level of
customers towards improving the organisation performances (Haltiwanger, Jarmin and Miranda,
2013). Further, it also makes positive services within the business environment through adopting

the new strategy. From the assessment following positive and negative points are identified
within the cited firm:
Positive points The structure of plan and objectives: For achieving objectives and plan of The Phoenix
Partnership, they can make effective structure. It will help in achieving business goals.
Organisation results can be affected by actions that are taken by cited firm for achieving
their targets. Thus, it will be helpful in maintaining positive and flexible services within
the enterprise (Neubauer and Lank, 2016). Assessment of organisation objectives: Further, The Phoenix Partnership needs to
consider their objectives and plan according to the capabilities. Through this, they will
analyse financial performances by their profits, balance sheet and investment which
company made for creating more profits.
 Monitoring organisation actions and activities: The Phoenix Partnership wants positive
results which can be achieved through monitoring business performances. It will be
helpful to generate more profits by analysing the current and future outcomes (Henrekson
and Sanandaji, 2014).
Negative points Changes in business objectives: When The Phoenix Partnership makes changes in goals,
they are required to do modifications in the business needs. In this aspect, chosen
enterprise need to maintain their outcomes in which they adopt new strategy and process
for change in the organisation. It will generate more cost and negative impact on
employees of the chosen company.
 Training needs for employees: For taking changes in organisation objectives, cited the
firm is required to make new training session for their employees (Haltiwanger, Jarmin
and Miranda, 2013). Due to change in objectives the organization requires new ability
and skills for doing work. Hence, it creates negative impact due to high cost in training
method.
3.2 Revised business plan to incorporate changes
When the organisation was unable to achieve their targets, they change their system and
plan for making positive results. The Phoenix Partnership finds that their clients are not satisfied
with the organisation performance. Thus, it is needed for the chosen company to make an

effective plan which generates high revenue for the cited firm (Williams and Martinez, 2014).
Cited firm alter the business criteria which assist the customers to achieve the satisfaction in an
effective manner. Below are elements that can be considered for evaluating organisation
performance: Conduct market research: The Phoenix Partnership has failed in operating their functions
because they make plan without identifying customers’ needs. Hence, they are not able to
generate profits within the marketplace (Stewart and Gapp, 2014). They have to make
changes in the plan which can be done through conducting market research. It can be
done through identifying customer’s needs and their awareness which is easier to achieve
objectives in a systematic manner. Evaluate business outcomes: Chosen Company has to monitor their performance to
accomplish goals. They have to develop their plan through assessing results at the
workplace (Neubauer and Lank, 2016). Thus, The Phoenix Partnership will easily carry
out the actions by evaluating organisation performance.
 Make new structure: Another change that can be made by The Phoenix Partnership is to
develop the new structure. It can be done through operating new technology at the
workplace which demonstrates tasks and duties and role for every member of a company.
With the help of advanced technology, cited firm can easily make services in few times
which create positive results. Potential candidates can be attracted by the cited firm when
they adopt new structure (Henrekson and Sanandaji, 2014).
3.3 Action plan to implementation various changes
Tpp must focus on the each and every point that assists in achieving various goals and
objectives. Here various points are listed below that shows how Tpp can achieve its set target
with the help of Action plan.
 In the first stage, Tpp focuses on planning in which they can concern all that points that
assist for the achievement. In addition to this, now manager focus on the mission, and
according to that, they can develop its visionary for the same.
 Marketing manager focus on the SWOT analysis which acts a guideline for making the
plan (Brush, Edelman and Manolova, 2015).
 In the implementation stage, it is important for the management to develop a strategy in
which they can evaluate that this mission is relevant to the future needs or not.

 In this stage, management monitor all that points that assist for its success. In this, they
also focus on its current and future performance. According to that Tpp can develop the
action plan for the same.
 Tpp use this action plan for the systematic development in which management can
concern all such points that can use as guidelines. .
TASK 44.1 Impact of proposed changes on the business and its personnel
If Tpp adopts all above changes then it may have positive and negative effect both. If Tpp
can use democratic leadership style in which they can involve their employee in the decision-
making process so that employee can understand its problem in more effective manner. The main
reason behind the involvement of worker is that thy can review it and feel its positive effects in
their performance. Tpp get positive impact from this because if employee now about entity in
more effective way so that they may not leave the organisation and it is also positively impacted
on the workplace. Along with this, Tpp has to use various techniques that assist in adopting such
changes with an employee, and it does not affect the retention rates..
It may occur that impact of proposed change may not affect as a positive one so that they must
be manageable by them. This is also positively impacted by current market situation in which
company can develop its efficiency towards the constant development of market share. Change is
also positively impacted on the sale and profitability ratio of Tpp (Ramalho, de Moura and
Cunha, 2015). On the other hand, it also has negative part in which all these steps should
consume time that impacted on the work management. Tpp can use plan for this change that may
positively impact on the modification on the working.4.2 Change management in the business
If The Phoenix Partnership can take the initiative towards the change so that they must
develop various strategical things that assist for better way of working with the help of change
management. Here, three methods are listed below that shows how Tpp can manage with the
change management.
Unfreezing: Tpp can use planning for the change in which they can set prioritise that
shows how they can introduce change with the employee so that they can easily adopt this. With
the help of this plan, management can evaluate that employee are easily resisted the change so
that they can accept it in a more effective manner (Reuschke and Maclennan, 2014).
Transform: In this point management can focus on the employee and its mental level that
shows employee is ready to adopt the change or not. The management can provide various

training and development facility in which management can try to motivate its employee towards
the better change management (Cassar, Ittner and Cavalluzzo, 2015).
Refreezing: This is the last step of change management in which management evaluates
its worker activities so that they can concern with all decisions that should be taken by the
management. All the work is performed according to the process as well as guidelines for
getting the better result and know the impact of the change in the organisation.
4.3 Monitoring improvements in the performance
Monitoring is the most crucial part of implementing change. Without successful
monitoring and control, the changes cannot be implemented successfully in the organisational
setting of TPP. From the above description of the change model, it may cause the respective firm
to overcome the shortfalls which it is currently facing. Monitoring is an essential part which
involves personnel to get engaged in identifying its weaknesses and making modifications in the
current process so as to enhance its performance. This can be done by using its strengths against
its weaknesses (Sahut and Peris-Ortiz, 2014).
In addition to the above, the changes that are brought in the respective organisational
setting will assist in managing its work in the more profound and in a prominent manner. TPP
firm is enriched with the new and innovative techniques as well as equipment which aid in
gaining high amount of satisfaction to the customers. Adoption of the newer and most prominent
methods helps the organisation to grow its customer base. This in turn also enhances the profit of
the company thereby increasing its sales. Furthermore, the problem of financial resources and
budget allocation is eradicated from the cause by implementing the above-enumerated change.
Additionally, rendering training to the personnel to handle clients and secure the information of
its customers also assist in improving the current performance of the concerned organisation.
In regards to evaluating the performance level of the TPP Company, the performance for
the next nine months will be evaluated and monitored. Implementing change takes time to derive
fruitful results. In addition to the above, the future performance shall further be compared and
contrasted with that of the past year. It can even be evaluated with the performance or sale of its
competitors (Kraemer-Eis, Lang and Gvetadze, 2013).
CONCLUSION
The report represents numerous challenges and difficulties being faced by TPP firm.
Setting and starting up a business organisation is not an easy task as it has to go through several

ups and downs. From the above description, it can be stated that change is the most crucial part
of every business entity. Furthermore, the significance of effective monitoring and control has
also been enumerated in the above section. The above-enlisted action plan will help the
respective firm to overcome the challenges and difficulties that have been faced currently..

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