Approaches of Small Business Enterprise : Report
Added on 2020-06-04
19 Pages5844 Words118 Views
SMALL BUSINESSENTERPRISE
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Profile of restaurant with its strengths and weaknesses........................................................11.2 Analysis of business using comparative measures of performance......................................2TASK 2............................................................................................................................................32.1 Appropriate actions to overcome identified weakness in business.......................................32.2 Ways in which performance could be strengthened and maintained....................................42.3 Areas in which business could be expanded........................................................................4TASK 3............................................................................................................................................63.1 Assessment of existing business objectives and plans..........................................................63.2 Revision of business plans to incorporate appropriate changes............................................73.3 Action plan to implement changes........................................................................................9TASK 4..........................................................................................................................................114.1 Impact of the proposed changes on business and its personnels.........................................114.2 Plan how changes will be managed....................................................................................114.3 Monitor improvements in the performance of the business................................................12CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONIn the competitive world of global business, small scale companies having lowerturnovers needs to make efficient plans so as to grow in a continuous time frame. Small businessenterprises are facing difficulties in many parts of the world and they are applying variousbusiness methods to increase their profit. There are various analysis of enterprise's business thatcan be using comparative performance measures (Zortea-Johnston, Darroch and Matear, 2012).All these firm's needs to make changes, manage and monitor them on a regular basis so as tocompete with bigger organisations. In order to understand different approaches SBE which istaken in this report is Delicious dish. It is a small restaurant in Edinburgh Scotland. This reportfocuses on companies objectives and goals that are developed in order to flourish. This reportalso highlights the measures taken by this organisation to remove its weaknesses, this would helpto understand the SBE planning strategies. It also showcases the ways in which company makechanges in its operating procedures, plans and structure in order to overcome various challengesoccurred in day to day operations.TASK 11.1 Profile of restaurant with its strengths and weaknesses.Generally the enterprises having turnovers less than 10 euros and having approx 59 staffscomes under Small Business Enterprise. Delicious dish is similar kind of organisation havinglimited resources. It is small restaurant located in Edinburgh city of Scotland. It is having approx20 staffs and having turnover approx 5 Euros. Profile of this business is as follows:Objectives: As this company is operating in the business of serving quality food. So theobjective of this restaurant is three fold i.e. to serve good quality food in hygienicatmosphere at affordable prices in order to achieve customer satisfaction.Context: This small sized organisation is working to serve people with several dishes ataffordable prices (Wynarczyk, Piperopoulos and McAdam, 2013). Edinburgh is a citythat attracts a lot of tourists so it will help company in sustaining for longer period oftime hence advocating its set up in this city.Competition: It is facing level of competition like never before with new and old set upsestablished by bigger brand names. Approximately 65 -70 customers can be entertained
at a time whereas bigger organisations could serve up to 130 customers at a time. This isa challenge in peak days which is posed by bigger restaurant chains.Key performance indicators: Supervisors and senior managers are involved inobserving staffs performance (Vázquez-Carrasco and López-Pérez, 2013). This includesobservations towards a staff working in team, checking out their punctuality, theirapproach towards a problem and their work as a team member. They all were providedwith feedbacks.To understand strength and weakness of the organisation SWOT analysis is as follows:Strength:It is located in the area where there is large customer base.Presence of experienced staffs makes working process smoother that can help in servingguests efficiently.Weaknesses:Unstructured form of processes are followed and hence leading to confusion among staffswhen there is certain excess guest arrivals.Lack of proper management and planning.Less funds restricts company in their plan of introducing new products and services.Opportunities:It can attract tourist which are increasing day by day.Government is supporting SBE with its policies and funding schemes.Threats :High competition from small and big restaurant chains.Higher funds with other competitors as compared to this restaurant.1.2 Analysis of business using comparative measures of performance.Comparatives measures are highly useful in analysing and measuring performance. Thereare several comparative measures that are used some of them are as follows:Customer satisfaction: The prospect of product or its related services is needed to takeninto account so as to compare the customer satisfaction (Storey, 2016). Firstly consumerwill like to expect considerations about purchase. Secondly experience gained with therelated services or product will be reflected in detected quality. Its relationship will beobserved when detected performance level remains less than anticipated levels. Levels of
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