Report On Razzamataz - Strength & Weaknesses Analysis
Added on 2020-02-05
18 Pages5492 Words57 Views
SMALL BUSINESSENTERPRISE
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 Company profile....................................................................................................................31.2 Comparison of financial performance of firms......................................................................5Task 2...............................................................................................................................................72.1 Appropriate actions to overcome the weaknesses.................................................................72.2 Ways through which existing performance can be strengthened...........................................82.3 new areas into which business can be expanded...................................................................8Task 3...............................................................................................................................................93.1 Business objective and plan...................................................................................................93.2 Review existing business plan and necessary changes........................................................103.3 Action plan for implementing changes................................................................................11Task 4.............................................................................................................................................114.1 Impact of changes on business.............................................................................................114.2 Plan for managing changes..................................................................................................124.3 Improvements in the performance of business....................................................................13Conclusion.....................................................................................................................................15References......................................................................................................................................162
INTRODUCTIONSmall businesses are privately owned firms which are having comparatively lower salesvolume. Such type of startup firms have great potential to grow in the UK market and they cancontribute well in the economic development of country. Present report is based on Razzamatazwhich is a theater school that teaches dancing and singing to small kids. Cited firm was started inthe year 2000 and continuously working for improving skills, confidence and self-esteem level ofchildren. Assignment will discuss the profile of Razzamataz along with its strengths andweaknesses (Mazzarol and Clark, 2016). Financial performance of organization will becompared with City Academy School that is working in the same field. Study will providerecommendations so that it can overcome from its weaknesses. Business objective and plan willbe assessed in this report. In addition to this, action plan will be prepared so that changes can beimplemented successfully. Furthermore, impact of proposed changes in the business operationswill be discussed in this assignment.TASK 11.1 Company profileRazzamataz is the dance company which teaches dancing, singing and drama to childrenso that their confidence can build up. Owner: Founder of the cited firm was Denise Hutton-Gosney who established Dragons' Den inthe year 2000. He aimed to launch a theater school that must be “fun and funky” for small kidswho are below the age of 18 years (Marlow and McAdam, 2013). School runs only on Saturdayand Friday when it conducts one hour classes for singing, dancing and drama. Students aredivided into sub sections like 4-5 years of age, 6-8 years (juniors), 9-11 years (inters) and 12-18years (senior group). Hutton-Gosney said that early learning and extra ordinary skills along withconfidence can help in enhancing the abilities of individuals that can support in career growth ofthe person. Owner structureIt is privately owned business and owner gives attention on the development of children.History and background3
Founder of Razzamataz has started a theater school in the year of 2000 where MD andfounder of cited firm have appeared in the series of 4 and they received investment of 50000 for25% equity share. In the year of 2010, owner of Razzamataz has opened 40 new branches andcited firm has won the contracts of working with leisure brands such as Thomson and Firstchoice (Steingold, 2015). They have supported the theater school to expand its business into 14new countries. Now, it has been established as the most trusted brand and thus, earning goodrevenues every year. ActivityRazzamataz dynamic dance and signing classes are designed for developing confidenceof children and for improving their health and fitness. It teaches drama, dancing and singing tokids of 4 to 18 years. Generally, school runs on Friday and Saturday but in summer holidays, itruns from Monday to Friday. Its activities help in learning many skills such as stretching,improvisation, drama, singing, dance, etc (Koeberle-Schmid, Kenyon-Rouvinez and Poza, 2014).Business locationInitially, it was started in the UK but later on, founder of Razzamataz has expanded hisbusiness across the world. In the year 2010, 40 new branches were opened in the UK. Now, itsfranchises are in Europe, Middle East and other British countries.4Illustration 1: Razzamataz dance school(Source: Razzamataz Theatre Schools, 2017)
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