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Small Scale Firms in Global Market
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Added on 2020-02-05
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Small Business Enterprise TABLE OF CONTENTS INTRODUCTION 1 TASK 11 1.11 1.22 TASK 23 2.13 2.24 2.35 TASK 35 3.15 3.26 3.37 TASK 48 4.18 4.29 4.310 CONCLUSION 10 REFERENCES 11 INTRODUCTION In the present era, every firm is competing other each and other so as to survive in the global market to earn large number of profit. For this purpose, majestic cakes have been chosen as the current company which supplies
Small Scale Firms in Global Market
Added on 2020-02-05
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Small BusinessEnterprise
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1................................................................................................................................................11.2................................................................................................................................................2TASK 2............................................................................................................................................32.1................................................................................................................................................32.2................................................................................................................................................42.3................................................................................................................................................5TASK 3............................................................................................................................................53.1................................................................................................................................................53.2................................................................................................................................................63.3................................................................................................................................................7TASK 4............................................................................................................................................84.1................................................................................................................................................84.2................................................................................................................................................94.3..............................................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONIn the present era, every firm is competing other each and other so as to survive in theglobal market to earn large number of profit. The small scale firms are severely impacted by thesmall or less relevant factors. They keep on changing their environment and structure so as toadapt the most favourable ones. On behalf of the above demonstration, the present researchreport revolves around the performance measurement of the small scale firms. For this purpose,majestic cakes have been chosen as the current company which supplies wide ranges of cakes forall occasions that is birthdays, anniversary, baby shower, weddings, etc. It also providesdecoration services to the needed persons along with the another bakery items. The firm iscurrently facing issues in the organizational structure and culture of the company. To overcomethe this strengths and weaknesses of the firm has been identified, thereafter various strategies andplans have been prepared to overcome the same (Osotimehin and et.al., 2012). In addition to theabove, Kurt Lewin change management model has also been applied so as to successfullyimplement the action plan and monitor it. TASK 11.1Majestic Cakes is the well known and the UK's famous cake maker which specializes inmaking cakes for all occasions. It makes cakes for almost all events and festive such as babyshower, anniversary, birthdays, weddings, etc. The retail outlet is being setup in the Aylesbury, awell renowned city of United Kingdom. It is also supplying decorative services almost all acrossthe the country as well as known for producing elegant cakes that catches the attention of thepeople. From youngsters to aged, everyone love eating the pastries made by majestic Cakes. Thecompany is owned and managed by the CEO and there is no other managers and supervisorspresent in the bakery (Denscombe, 2014). Swot analysis is conducted so as to analyse the current situation of the firm and also toidentify the potential threats and weaknesses. This will assist the CEO of the said small businessunit to make alteration in the current structure and policies so as to achieve its aims andobjectives. The Strength and weaknesses are the internal matrix that provides a clear descriptionof the organizational position whereas on the other hand the external factors can be determinedfrom the opportunities and threats that are likely to occur in the near future (Chahal and et.al.,1
2014). The profile of the current strength and weaknesses of the Majestic cakes along with thefuture threats and opportunities have been presented below:Strengths: These are the capabilities of a firm which can be used in the future course ofaction so as to compete against its competitors and gain advantage over them. The enterpriseshall frequently review its strengths so as to deploy its potential resources in the most efficientmanner. Some of the strengths of the company are:Innovative and eye capturing cakesWide range of new and productive services (Hansen, Landstad and Vinberg, 2016)Located in the heart of the cityFresh and high quality ingredients used in forming cakesWeaknesses: These comprises of the deficiencies of the firm which need to be improvised so asto carry out its operations without any harm. Every enterprise has its own set of weaknesses andanalysing them to make alteration is the important task of every CEO. Some of the weaknessesof the Majestic cakes have been enumerated hereunder:High cost of the products and servicesFlat Structure Improper delegation of responsibilities as well as chain of command is not clear (Schmidtand et.al., 2016).Weak brand image or company's reputation in the market.High cost of expenditure in form of rents.1.2Majestic Cakes is a adorable bakery centre located in the heart of Aylesbury city whichsupplies a wide range of products and services across the United Kingdom. The performance ofthe said enterprise can be assessed by reviewing and comparing the revenue generated in thepast years or also by determining the current position in the market in regards to its competitorssuch as Flutterby cakes (Martey and et.al., 2013). As discussed above, majestic produces a wide varieties of cakes for almost all occasions.The raw materials that is used by the firm is comparatively of higher quality as well as newingredients. The CEO emphasizes on meeting the demands and requirements of its customersthereby maintaining the authentic touch and taste in its cakes also by using high qualityingredients. This in turn aids in gaining wider range of customers as compared to that of its2
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