Small Business Enterprise TABLE OF CONTENTS
Added on 2020-06-04
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SMALL BUSINESSENTERPRISE
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1(a)............................................................................................................................................1(b)...........................................................................................................................................2TASK 2............................................................................................................................................5(a)............................................................................................................................................5(b)...........................................................................................................................................6(c)............................................................................................................................................7TASK 3............................................................................................................................................7(a)............................................................................................................................................7(b)...........................................................................................................................................8(c)............................................................................................................................................9TASK 4..........................................................................................................................................10(a)..........................................................................................................................................10(b).........................................................................................................................................10(c)..........................................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONA business is defined as an activity whose main purpose is to generate huge profit andsurvive in competitive environment for a longer period of time. Small business enterprise refersto those enterprises which is operated in small scale and are new in market. The business can becategorised by government on the basis of their turnover and number of employees employed inan organisation. The small enterprise is one whose turnover doesn't exceed 6 million euros andnot more than 50 employees. Illustration of such small enterprises are bakery, clinic, small scalemanufacturing and parlours (Abebe, 2014). Project covers the profile of company and measuringof their performance in order to compete with their rivals. The strengths and weaknesses of smallbusiness enterprises and their action plan which help them in achieving growth and success arealso covered in this report. TASK 1(a)Name of the Business: Mainstage TravelOwner structure: Rob Tominey and Aden Lewin are two owners who managed thebusiness operations in an effective way. 15% of the equity in company is owned byventure (Dragon) investor Peirs Linney. He is the only one who invested 100,000 euros inorder to hold 15% of ownership in company.History and Background: This enterprise was first introduced in the year 2011 by twoyoung entrepreneurs. Its main objective is to organise and manage tours and concerts foryouth. After that, they entered Den dragon for looking the venture capital. They selectPiers Linney for the purpose of getting financial help and his technological expertise.This venture has not faces any tough situation till it is started and has attained 2nd highestcapital on the show since 2007. These capital are contributed by all the venture capitalistsand entrepreneurs due to credibility of Linney and his knowledge in technological areas.Activities: Company organises tours and concerts in various parts of the world in order toattract young generation. Magaluf and Snowboxx are two famous festivals organised bycompany and ranked 2nd in terms of Ski festival (Acs and et al., 2013). The companydecided the prices for concert on the basis of their targeted segment.1
Business location: Business is operated in the United Kingdom with having itsheadquartering in London.Contact details: info@mainstagetravel.co.ukAnalysis ODF strengths and weaknesses: It is important for the business to identifytheir strengths and weaknesses which help in correcting them and achieving better growthand success in future. Identifying and rectifying their weaknesses help them in competingwith their rivals in an effective way. Mianstage Travel is also required to make ananalysis of internal factors which affect their business environment so that they can attaina strong position in the competitive market world. Assessment of mentioned enterprise isas follows:StrengthsWeaknessesAttained a strong position in marketAre more famous amongst young generationCharging effective pricesAttain huge profitsSki Festival (Snowboxx)Due to high competition, company faces highchallengesSeasonal marketplaceExclusively to a single age segmentPrice wars in the marketGiven table clearly shows the strengths and weaknesses of Mainstage Travel in market.Strengths of business such as market presence, profitability, etc. will help them in achievingcompetitive advantage whereas their weaknesses such as facing challenges due to highcompetition and price wars in market forces a company to achieve economies of scale so thatthey can organise tour at a cheaper rate. Company mostly attracts youth for their tours throughwhich they can attain a strong position in the market (Barber, Metcalfe and Porteous, 2016).(b)Mainstage Travel is good in financial position due to which they have attained a strongmarket presence. But in order to maintain their current strong position, company should focus onimproving their performance. For this, company needs to implement effective measure in orderto measure their actual performance and accordingly, make efforts for improving in order toachieve competitive advantage. 2
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