Business Plan Analysis and Components

This assignment requires you to analyze various aspects of a business plan, examining its essential components and the role it plays in the success of an enterprise. You'll delve into empirical research that highlights the connection between business models and factors like innovation and classification. The analysis will also encompass diverse industries, ranging from service delivery systems to urban planning, underscoring the broad applicability of business plans.

SMALL BUSINESS
ENTERPRISE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
LO 1.................................................................................................................................................1
1.1 Business profile (Strength and weakness) of Kantar Health.................................................1
1.2 Business analysis using comparative measures of performance...........................................2
TASK 2............................................................................................................................................3
LO 2.................................................................................................................................................3
2.1 Strategies to overcome weaknesses in Kantar Health...........................................................3
2.2 Ways in which business performance can be maintained.....................................................4
2.3 New areas to expand business...............................................................................................5
TASK 3............................................................................................................................................6
LO 3.................................................................................................................................................6
3.1 Business objectives and plan.................................................................................................6
3.2 Business plan for appropriate changes in Kantar Health......................................................6
.....................................................................................................................................................8
3.3 Action plan to implement changes........................................................................................8
TASK 4............................................................................................................................................9
4.1 Impact of changes on business and its personnel..................................................................9
4.2 Ways to manage changes in Kantar Health.........................................................................10
4.3 Performance management of Kantar Health to maintain improvements............................11
CONCLUSION..............................................................................................................................11
REFERENCE.................................................................................................................................13

INDEX OF TABLES
Table 1: SWOT analysis of Kantar Health......................................................................................1
Table 2: Business plan for improving business performance of Kantar Health..............................7
Table 3: Action plan for Kantar Health...........................................................................................8

ILLUSTRATION INDEX
Illustration 1: Business plan essentials............................................................................................8

INTRODUCTION
Government plays an effective role in the development of small business enterprise of
country. It impacts on economic, employment and other sectors of the nation positively. Present
report is based on understanding the business performance of Kantar Health and different ways
for improving its performance. It is a small scale consultancy of UK guides for investment and
brand marketing. In this regard, actual business profile of company and competitive
measurement tools will be discussed. Similarly, methods to overcome weaknesses and improving
quality services will be identified. Along with this, several ways in which entity can expand will
be introduced in this report. Likewise, business plan for implementing its activities are to be
expressed impacts on its profitability and competitiveness. However, different methods for
improving the business performance of Kantar Health in respect of government's project on its
expansion will be understood in this report.
TASK 1
LO 1
1.1 Business profile (Strength and weakness) of Kantar Health
It is essential to analyse the business performance of Kantar in respect of its profitability,
market position and competitiveness (Andrews and Hampel, 2015). In this regard, both strengths
and weaknesses will be identified on which further decisions are made regarding implementation
and improvements. However, business profile of Kantar can be identified as follows:
Table 1: SWOT analysis of Kantar Health
Strengths
 Effective market position
 Good public relations with clients Appropriate guidance on investment
Weaknesses
 Poor quality services of suggestions
given by Kantar Health
 Lack of fund for adopting new
technologies
 Difficult to face competition and
developing performance
Opportunities
 To take advantage of government's
Threats
 Highly competitive market
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project regarding expansion of SME
 To conduct market survey and
maintaining good relations with clients To expand business as product
development and online marketing for
Kantar Health
 Changes in clients' interests for taking
advices from Kantar Health.
 Difficulty in allocating funds and
resources for further business
operations
It is analysed that Kantar has good relations with its customers and also employees
perform effectively for marketing of its products. In addition to this, it has good market position
as developing in UK market for providing suggestions on investments (Gale and et.al., 2013). On
critical evaluation, it is evaluated that for small unit enterprise, it is difficult to face competition
and adopting new technologies for improving its services as of lack of required fund. However,
these weaknesses can be reduced through taking advantage of government's new project on 'big
opportunities for small firms’ as expansion of SMEs. Likewise, adequate fund can be allocated
for its business operations.
1.2 Business analysis using comparative measures of performance
Comparative measurement tool is appropriate for identifying business and market
position of Kantar Health. In this process, comparison of entity's performance with previous
years is identified as well with business entity. In this process, variety of ideas are generated for
reducing the occurred issues and improving quality of consultancy (Huang and et.al., 2013).
Including this, it also generates different ways to maintain its business performance and
enhancing efficiencies at a higher level. Moreover, for analysing small business' performance in
consultancy sector of UK, below mentioned statistical data has been analysed as:
In addition to this, different comparative tools applied can be discussed as below:
Analysing balance score card
Under this process, financial and non-economic performance of Kantar Health is
identified using financial statements, performance of production and distribution of goods and so
on (Landt and Melville, 2013). In accordance to this, it is appropriate for creating balance
between demand and supply influences production and distribution system. In addition to this, it
is helpful for increasing profit level and productivity of small scale enterprise.
Benchmarking
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It is comparative measurement tool by which business and market position of Kantar
Health is identified (O'Leary, 2013). However, comparison of the company with its competitive
entity is recognised for which different ideas are generated for further business operations.
Including this, it works as decision making tool for increasing competitive strength and
sustaining effective goodwill in market for longer time period.
Comparison with other businesses
Comparing business and market position of Kantar Health with its competitive entity
generates different ideas for marketability (Ricciardi and et.al., 2015). In this regard, comparison
of the entity with Abbot risk consulting Ltd is to be created which is also belonged of
consultancy sector of UK.
TASK 2
LO 2
2.1 Strategies to overcome weaknesses in Kantar Health
On analysing business performance of Kantar Health, both positive and negative aspects
are recognised in relation to profit level and market position. As, it is analysed that Kantar Health
is needed to work upon improving its quality for suggestions on investment (Speight and et.al.,
2016). Similarly, it is required to allocate required for further business operations and
implementing its performance. For reducing its weaknesses, following strategies are to be
implemented can understood as:
 Taking financial aid from government:
It is effective for allocating appropriate fund and resources for business operations and
improving performance of Kantar Health. According to case scenario, it is evaluated that
government of UK is planning for accomplishing project on 'expansion of small business unit' till
2020 (Stanek, Babkin and Zubov, 2016). However, by taking advantage of this government's
plan and working upon its implementation, appropriate fund can be arranged. Therefore, it will
be appropriate to improve business performance and quality of investments at maximum level.
 Adopting new technologies:
Implementing this strategy can also be effective for improving quality through adopting
new technologies (Yeh and et.al., 2014). In this regard, product quality and demand for
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consultancy of Kantar Health will be enhanced at higher level. Including this, customers will be
attracted towards its products and services in wide range as will demand for its goods.
 Market survey and maintaining public relations:
For maintaining and sustaining market position of Kantar Health for longer time period, it
is needed to get aware with recent trends. In this process, market survey is to conducted to
identify customers' opinion on goods and services of the company (O'Leary, 2013). It impacts on
increasing customer loyalty and maintaining good relations with them efficiently. Therefore,
conducting market and maintaining good relations with public influences productivity and
profitability of small scale unit efficiently.
Justification: By implementing above mentioned strategies will be effective for Kantar
Health to maintain its business performance (Gale and et.al., 2013). Moreover, its profit level can
be enhanced as well goodwill be maintained in competitive market for longer time period.
Hence, following on these business strategies remain beneficial for improving quality services
and appropriate decision making in relation to achieve its effectiveness at higher level.
2.2 Ways in which business performance can be maintained
Kantar Health has good position in market of consultancy sector in UK. For maintaining
this goodwill for longer time period, below mentioned methods are to be followed on as:
 Maintaining public relations and aware them with creations in quality as well business
operations of Kantar Health.
 Adopting new technologies for improving services of consultancy and food items.
 Advertising products and services of Kantar Health using attractive tools to attract people
at maximum level (Andrews and Hampel, 2015).
 Analysing market demand and customers' requirements and further working for
increasing their satisfaction level at higher level.
 Preparing future oriented plan as of maintaining market position and increasing contacts
with people efficiently.
 Adopting online marketing and delivery of products of Kantar Health in appropriate time.
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However, business performance of the small scale enterprise can be maintained
efficiently as in terms of future oriented strategies. Including this, it is beneficial for decision
making regarding implementation in business strategies at higher level (Bean, 2015). Therefore,
implementing above mentioned strategies will be successful to maintain business performance
and quality services of entity for the further years.
2.3 New areas to expand business
There is planning created on expansion of Kantar Health, it can be done in different
ranges (Blackburn, Hart and Wainwright, 2013). For instance; product development, establishing
new store, entering into new market and online marketing of goods and services. In accordance
to this, areas in which business can expand is to be discussed as:
 Setting up new store/branch:
It is general method to expand any business entity as increasing of stores as well
providing goods and services globally (Cai and et.al. 2014). It impacts on profitability and
market goodwill of Kantar Health at higher level. In this regard, products and services of entity
can be provided to greater number of people.
 Product development:
It is business expansion tool as increasing product for example; providing frozen food
with food items of Kantar Health. Therefore, business expansion is identified impacts on market
sustainability and effectiveness of the entity.
 Online marketing:
Business can be expanded by online marketing of products as of delivery of goods in
proper time. It influences demand for goods and customers' satisfaction at maximum level
(Cappelli and Tavis, 2016). Including this, it remains easy and convenient to maintain contacts
with people as well providing details of products and services efficiently.
Justification: It is justified that Kantar Health can be expanded as in the form of above
mentioned ways. As, its productivity and profitability will be enhanced at higher level same as
for demand for products. Besides this, it is linked with customers' loyalty and trust with goods
and services of the company efficiently (Carraher and Paridon, 2015).
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TASK 3
LO 3
3.1 Business objectives and plan
For improving business performance and expansion of Kantar Health, different objectives
are set can be identified as follows:
 To enhance effectiveness and efficiency of small scale enterprise on larger scale.
 To improve quality of goods and services by adopting new technologies.
 To manage entire business operations appropriately impacts on systematic production and
distribution system.
 To expand business entity in context to product development and online marketing of its
goods and services.
 To maintain and sustain effective market position with facing competition effectively.
 To increase customers' loyalty and maximizing their satisfaction level with its products
and services.
These objectives are set for improvements in business operations and increasing
company's efficiencies at higher level. However, for meeting set gaols and implementing
business operations, appropriate planning is created. It includes different factors as cost incurred
in business operations, time consumed for accomplishing tasks appropriately (Cassar, Ittner and
Cavalluzzo, 2015). In addition to this, workers who are involved in accomplishing tasks as well
their performances are to be identified impact on business' effectiveness. Therefore, Kantar
Health's business performance can be improved as also operations for decision making sin the
future time.
3.2 Business plan for appropriate changes in Kantar Health
Business plan is a process of improving its quality services and working for managing
entire operations effectively (Ellis and Kiely, 2015). In this regard, to achieve effectiveness of
Kantar Health as well improving its business performance, below mentioned plan is to be
implemented as:
Table 2: Business plan for improving business performance of Kantar Health
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Plan Activity
Analysing current position It is done through using financial statements and reports which
demonstrate business performance of Kantar Health.
Goal setting and preparing
planning
Afterwards, objectives are set to improve its business
performance and quality services of products and services.
It includes preparing budget and estimating cost incurred and
employees who can involve in the project and overall
strategies for the project.
Implementing plan As determined plan for improvements in business operations
of Kantar Health, plans are converted into actions.
Including this, work is segmented among workers to meet
orgaKantar tion's goals and reaching out to set targets
efficiently.
Performance evaluation In this process, performance of the entity and workers are
analysed (Harris, Gibson and Taylor, 2015).
It critical evaluation in which comparison is created between
actual and expected performance for Kantar Health.
Reporting In the end, all process, action plans and contribution of
workers are reported to meet orgaKantar tion's targets.
In addition to this, expenses in business operations and quality
services of entity's performance is recorded.
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Illustration 1: Business plan essentials
(Source: Essentials of business plan, 2016).
3.3 Action plan to implement changes
Action plan includes strategies and planning process for meeting goals of Kantar Health.
It includes planning on cost incurred in business operations and appropriate time frame to
accomplish any specific task in determined time period (Hilmersson, 2014). In this regard, action
plan for improving business performance of the small scale unit is to expressed as follows:
Table 3: Action plan for Kantar Health
Plan Cost incurred Time frame
Identifying actual performance
of Kantar Health
200 1-2 weeks
Goal setting and strategic
planning
100 1 week
Implementing action plan 500-600 3-4 weeks
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Evaluating business
performance
200 1-2 weeks
Taking feedback and cost
calculations
100 1 week
Reporting 300 1-2 weeks
It is smart strategy for implementing business operations and reaching out to set targets
effectively. Including this, all tasks can be accomplished in appropriate time as well through
incurring costs on business operations. Therefore, business expansion and its quality services
will be improved at higher level impacts on further operations and improving its efficiencies at
higher level (Lambert, Susan and Robyn, 2013). However, business performance of Kantar
Health can be improved in terms of providing consultancy and investment appropriately.
Including this, different ideas are generated as of strategies followed on by other consultancy
companies of UK. Therefore, business performance and number of clients suggestions on
investment can be increased in wide range for the further years effectively.
TASK 4
4.1 Impact of changes on business and its personnel
Several positive changes analysed in business performance of Kantar Health after
implementing business and action plan (Lodorfos and et.al., 2015). For example; improving
standard and quality level of products and services of the company, increasing in demand for
goods as well enhancing working efficiencies of workers and so on. In accordance to this,
influences on business operations and personnel's performance are to be identified as follows:
 Productivity and profitability of Kantar Health get increased at higher level.
 Market reputation get improved as in respect of maintaining public relations.
 Demand for consultancy, food items and increased influences profitability of the entity
efficiently.
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 Entire business operations managed effectively impacts on demand-supply of goods as
well production-distribution system of Kantar Health.
 As conducting training and development programs were effective for improving working
abilities of employees as well good contribution in team building has been identified.
However, several positive changes are identified in business activities and personnel's
performance to work for achieving effectiveness of Kantar Health. In relation to this, business
expansion is analysed in terms of online marketing as well delivery of goods in appropriate time.
It impacted on customers' satisfaction with products and services of the company efficiently
(Miller, 2016).
4.2 Ways to manage changes in Kantar Health
It is needed to manage recognised positive changes of Kantar Health in context to
business and personnel's performance (Nagel, 2014). It is beneficial for maintaining its good
reputation and improving quality services. For this purpose, below mentioned methods can be
applied as:
 Maintaining good relations with customers impacts on demand for goods and goodwill of
Kantar Health in market.
 Preparing future oriented planning for maintaining business performance and improving
its quality services at maximum level.
 Organising training and development programs for emerging workers' interests towards
learning new skills and technologies.
 Identifying recent market trends and adopting new changes in business operations impact
on market position and competitiveness of Kantar Health (Pugalis and et.al., 2014).
 Accepting technological changes in business operations to make position in competitive
market as well sustaining for longer time period.
 Implementing continuous learning plan for emerging employees' interest towards
learning and new and improving their performances at higher level.
However, implementing above mentioned plans are effective for maintaining positive changes in
business operations of Kantar Health. It is linked with productivity, profitability and
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competitiveness of the enterprise effectively. Including this, customers' loyalty towards its goods
and services can be maintained for longer time period.
4.3 Performance management of Kantar Health to maintain improvements
For managing performance of Kantar Health as well its improvements, several strategies
are to be implemented can discuss as:
 Advertising goods and services to attract customers at higher level regarding purchasing
products of Kantar Health.
 Analysing workers' performance and working for improving skills effectively (Harris,
Gibson and Taylor, 2015).
 Future oriented strategies for maintaining current business performance as well quality
services efficiently.
 Critically analysing entire business operations in terms of profit level, marketability and
competitiveness of the small scale enterprise.
 Managing resources and fund adequately impacts on production and distribution system
of the orgaKantar tion systematically.
Therefore, implementing these strategies will be effective for Kantar Health to maintain
its business performance and marketability effectively. In this regard, several ideas are generated
regarding further implementations and for appropriate decision making process (Ellis and Kiely,
2015). Hence, performance of business entity and its personnel can be maintained efficiently for
sustaining good market position and maintaining quality of products and services efficiently.
CONCLUSION
It is concluded that business performance of small business organisation can be improved
through taking advantage of government's project plan. In this regard, different ways for
maintaining business performance of Kantar Health has been understood. Including this,
business profile of the entity is introduced on which decisions can make regarding further
business operations and maintaining its market position. Moreover, business and action plan are
presented to meet entity's goals efficiently. In addition to this, by implementing these plans and
methods to maintain positive changes are discussed in this assignment. Along with this, several
areas in which business can be expanded are introduced influences business performance and
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quality services of the small scale enterprise. However, significance of enhancing efficiencies of
company as well government's role in expansion of entity has been understood in this report.
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