Small Business Enterprise Study

This assignment is a comprehensive study of small business enterprises. It involves analyzing various research papers and articles related to entrepreneurship education, the geography of new firm formation, the impact of financial decisions on competitiveness, and the application of Six Sigma methodology in manufacturing enterprises. The study aims to provide insights into the factors that contribute to the success or failure of small businesses and identify best practices for enterprise education.

Small Business Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
(a) Analysis of strengths and weaknesses..............................................................................3
(b) Comparing performance in other areas.............................................................................4
TASK 2............................................................................................................................................7
(a) Measures to overcome weaknesses of business................................................................7
(b) Ways to enhance existing performance............................................................................7
(c) New areas of expansion....................................................................................................8
TASK 3............................................................................................................................................9
(a) Existing business plans and objectives.............................................................................9
(b) Reviewing of business plans...........................................................................................10
(c) Action plan......................................................................................................................11
TASK 4..........................................................................................................................................12
(a) Impact of change management on the business and its personnel..................................12
(b) Measures to manage changes..........................................................................................13
(c) Monitoring the performance...........................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Small business organisations are the major system of support to economy of United
Kingdom which are the main market growth drivers, and fillers of employment opportunities.
SBE is the diversity clarification level of an organisation which are often issued by the state of
local government. After the period of Brexit, UK government has rendered the development
opportunities to small business organisation as the country has felt unemployment issues. This
report will analyse strengths and weakness of Mainstage Travel along with the business
performance of he organisation (Abebe, 2014). It will also assess goals and objectives of firm
that is being flourish to evolve. This will light over the methods which can aid in structuring
procedure along with several issues and conflicts in enterprise.
TASK 1
(a) Analysis of strengths and weaknesses
The small business enterprise refer to the organisation of business that has been less than
turnover of 10million and employee less than 50 worker staff. On the basis of this, the
organisation which has been discussed in report is discussing the Mainstage Travel. Here are
described details of organisation as below:
 Business Organisation Name: Mainstage Travel
 Structure of Owner: The company is owned or controlled by Aden Lewin and Rob
Tominey. Major part of equity i.e. 15% in organization which is owned through Piers
Linney venture of Dragon as investor. Piers has invested more than 100, 000 Euros with
more 15% ownership of firm.
 Background and History: The organisation was introduced through two main
entrepreneur since 2011. This majorly coordinate concerts and tours for the younger
generations (Barber, Metcalfe and Porteous, 2016). Through using the Dragon Den for
business launch, young entrepreneur are introduced in Den Dragon for seeking venture
capital. The enterprise has choose Piers Linney as their technological expertise along
with finance broad. Since the inception, the venture has not been going through worse
phase. It has been announced as the 2nd highest capital earning firm on 2007' show. On
the basis of their credibility, the capital was offered to the organisation in order to meet
the higher capitalist ventures and entrepreneurs.
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 Activities: The tours of company are maintained for the young generation along with the
coordinate the concepts in various world's part. It has been enlisted as Snowboxx and
Magaluf are two popular festivals, ranked on the second position in ski Festivals in which
budgets are planned according to friendly cost.
 Business Location: It can be carried out in UK, which headquarter is situated in London.
 Details of contact: [e-mail]
Strengths and Weakness
Strengths Weakness
 Company has strong market presence.
 The organisation is renowned among
the younger generations.
 The company offers various budget
friendly and exotic packages.
 It has huge amount of profitability in
business.
 Special products such as Ski festival
(Snowboxx).
 The market is suffering the cost war
among the competitors or sellers of
service.
 Higher competition presences.
 The season market limits the growth of
company.
 This has exclusivity in products to a
certain age group consumer.
(b) Comparing performance in other areas
The Mainstage travel brought up a strong presence of market and creating a specific
profitability level. The recent market situation is better but this is dynamic for monitoring it an
organisation need to manage the performance of Mainstage in order to handle the outcome of
future (Blenker and et. al., 2012). Through measuring and performing the activities, company
can measure their own success. Several tools of finance would be utilised for this purpose such
as loss and benefits account, Balance sheet, analysis of ration etc. these document or financial
records signifies the losses and profitability incurred through organisation for policies and
measures adoption.
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Balance sheet refer to the common tool of measuring company's performance with the
rival association. At the end of year, each company release their financial statement. The
organisation's balance sheet contains the profitability and performance states along with
company liabilities and asset.
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In the above report, it has been signified that liabilities of firm has decline by 35% with a
major fall of asset by 60.93%. The decrement in the liabilities is a positive aspect where asset
decline can lead to business issues.
Exponential-e is an SME which is rendering that lead to service of cloud storage to UK
people. As a small organisation, enterprise is gaining better profits.
Here is the financial review of Exponential-e:
According to the financial statement of 2017, it can claim that the company has been
gaining more than 8.98 million euros which liquidity has been enhanced. The organisation as
been gaining the operation areas along with the 52 new worker in this year. As compare to
Mainstage organisation, it can be observed coherently that Mainstage is facing decline in asset
where Exponential-e is developing in better manner.
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TASK 2
(a) Measures to overcome weaknesses of business
The weakness identification is essentials which aid in shortcoming and finding the work
at at best level. These are meant to dealt with ideal way so that Mainstage Travel's main
weakness which are confined to certain market segment. Here are mentioned some measure to
overcome in business:
Intensifying strategy: Mainstage travel can optimise this plane for overcoming their
business weakness (Ciampi and Gordini, 2013). Company can use various effective marketing
strategy for enlarging the business and its operations. For the purpose of increasing market share
and scope, the use of effective plans and strategies is being optimised for couple, family or other
target consumer.
Diversification Strategy: This plan focus over the development of their weaknesses as
their strengths through developing a product differentiated which can enter into an undefined or
unmet segments of trade or meet the profitability level. The strategy of diversification is being
eliminated into concentric or horizontal basis. The diversification on horizontal basis is known as
products formulation that is accompanying recent product line. Organisation can plan a package
for the ageing senior or couples. On the other hand, concentric diversification refer to the launch
products linked with organisation. Mainstage Travel concentrate on entertaining which make the
process of transformation of business in hospitality business easier.
Modernising Strategy: This strategy aims over the various resources or fixed variables
modernising. This strategy is often less utilised and preferred for the company who want to meet
the high market share. Major cause behind this is huge expenditure and high risk that is nor
preferable in organisation that are small in size.
Integration Strategy: It is one of the majorly opted strategy of expansion which include
the segments venturing process and amalgamation which are closely linked (Di Domenico and
Miller, 2012). The company can either merge or venture in hospitality business or collaborate
with Thomson in order to make the higher segment of market and developing the revenues
amount.
(b) Ways to enhance existing performance
An organisation's business performance is crucial part of it. This can be termed as the
manner in which the function and task of business has been operated or carried out. A company
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seek for the ways of measuring the performance and techniques of enhancing it. In order to
evolve the performance quality, this is necessary to understand the drawback that are preventing
the company to work at optimum level. The analysis is made top find out the elements that can
be addressed (Draycott and Rae, 2011). The organisation can develop enterprise's performance
through these ways:
 Mainstage can develop their performance through using their maximum strengths.
 Rectifying limitation can also improve their performance.
The organisation recently struggling to render the competitive cost of service. Enterprise
who organise these operation at large measure has met their scale of economies that aid in
package designing at competitive cost.
The capitalist of venture has invested 1,00,000 in 15 equity return but this amount was
not able to meet the sustainability for longer time. The entrepreneur can decline their 58% of
share holding to 50% by which organisation is able to retain their business control and increase
financial level. The state has released their value and have invested 26% of entire expense in the
promotion in SME.
Worker training play a wide role in the organisational performance development. The
enterprise can use the strategies to improve organisation's human capital. The respected firm
possess a small worker group relatively for meeting the programs of training and development
for widening the worker's horizon and develop performance of company.
(c) New areas of expansion
A business expansion is referred to an approach through which a business enlarges its
operations. Mainstage Travels is an emerging tour operation company in the Britain. Considering
the size of this business it has been successful in garnering adequate amount of profitability
(Kaushik and et al., 2012). At this moment, this enterprise possess adequate experience and
resources to venture into other markets. The business can conduct a market research so that
major opportunities in terms of expansion could be identified and capitalised upon. The first area
in which they can venture is designing packages for the elder generation rather than exclusively
targeting young population. The justification for the same is that aggregate population of the
country comes in senior age group so targeting them means that more outcomes in terms of
revenue. The elder generation carries higher amount of disposable income therefore can opt for
leisure activities without giving it much thought. The trips should be organised for popular
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tourist destination such as France, Spain and china as they offer peaceful environment and
heavenly beauty.
Another area for expansion for Mainstage Travels is to get into hospitality business. It is
another segment which offers decent amount of profitability for business organisation. This tour
operator is known to offer cost effective packages to places such as Mont Blanc. Therefore they
can partner with some established accommodation service provider so that they can venture into
this business without taking much risks (Lambert and Davidson, 2013). The expansion can be
carried out in either horizontal or vertical manner. But in this particular scenario, horizontal
integration is recommended as it leads to achievement of economies of scale for a business
enterprise. The cost control directly impacts the profitability of the business which later leads to
achievement of organisational objectives and goals.
TASK 3
(a) Existing business plans and objectives
Each organisation brought their objectives and plans set which equip the company with
organisation direction that lead to achievement of target. The business objectives of organisation
refer to short term activities which is company operating in the market along with vision that
support the purpose. Here are mentioned the objectives of Mainstage travel:
Objectives:
 Increase the tourism responsibilities.
 Satiate the client by rendering them their “life's best time”.
 To deliver best services to clients and great experience.
 Employment opportunities generation for engaged individuals.
 Coordinate the sustainable tours.
Here are mentioned some of the plans which is adopted by organisation for meeting or
bringing the main segments which are:
Vision Employee: Worker constitute as the major organisation part which are considered
as the engine of the company help in operating the entire operations (Lamphere, 2011). A
company like Mainstage Travel need proper and skilled worker for the company that suits the
firm. The culture and environment should render productivity and learning so to meet their
employee's best outcome.
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Consumer Vision: At recent time, the company consumer forms the adrenaline filled
young generation. The organisation coordinate the various ski tournament and festivals to bring
the same and render them best tour experiences. The satisfaction of consumer is preferences
which is always emphasised by Mainstage travel along with decision and policies are formulated
expecting the requirements and needs of clients.
Shareholders Vision: The respected organisation is owned more than 15% through
venture capitalist as well as other entrepreneur (Longenecker and et. al., 2013). They expect
fulfilment of vision and business profitability at certain level of organisation. The organisation is
seeking of deployment of business operation in the nation.
(b) Reviewing of business plans
The plans of business are business objective achievement means. The organisation can
increase the market share through enhancing and retaining the consumer experience. The plans
of business are to be evolved after the consideration of entire elements in the internal and
external trade. The business environment is dynamic therefore alternation in trade are formed on
the daily basis and plan to be variation and reviewed in trade are need to be organised
accordingly.
In order to meet the housing requirement, the segments of expansion is organising their
tour in other market segments to the famous destination i.e. France. Through the assistance in the
organisation, destination can be finalised and reviewed. The function of company can be
integrated and modified on the effortless transition basis. The company is looking on the 20%
market increment which for meeting the demographic segment requirement of organisation
Turkey and Spain are the most famous and liked places by the clients (López Salazar, Contreras
Soto and Espinosa Mosqueda, 2011). Through the development of financial situation of
enterprise, company can meet required outcome of implied strategies. Here are
determination of measured and planned goals are defined which are mentioned as below: Specific: This refer to the certain or specific goals which can be managed through
understanding the concerned parties. The company is aiming over the increment of 20%
of market share. Measurable: M refer to the scalble goals and objectives which has been set by
organisation. The consumer satisfaction level is hard to meet therefore, setting the
specific target can be measured in the effective manner.
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 Attainable: A refer to the achievable objectives and goals so that worker in the company
can meet their working criteria. The aims are set through the management which can be
obtained through minor efforts. Relevant: R refer to the relevancy of the aims and objectives which has been set or
determined by enterprise (Mason, 2015). The designed expansion plan are authentic and
relevant as company is using proper means of marketing and as these have been
attempted by Mainstage Travel before.
 Timely: This refer to the determined time period in which the plans and objectives has
been laid out in the company. The company has set three months period for the worker
motivation and meeting the final outcome of expansion strategy.
(c) Action plan
Action plan refer to the elements which are programmed and planned by the organisation
to meet the desired result within a certain time period. The plans and objectives that are formed
by the company will be met by what means? The plan of action help in justifying the strategy of
expansion with a scripted blue-print. This refer to the plan formulation and execution means and
assigning of human resources for respected organisation duties fulfilment. This is majorly
categorised into three main factors: Specific Task: This program or task refer to the implement of task which has been
carried out by Mainstage Travel that is discussed under the plan (Mitchelmore and
Rowley, 2013). Resource: resources can be deigned as required elements that assist in meeting the
requirements of expansion strategy which is discussed in the below section.
 Time: Each and every activities has been framed within time period to meet the task that
have been discussed in under section.
Tasks Responsibility Resources Time
Draft of the Designed
Plan
Method to accumulate
data/ information
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Planning and
arrangement of
resources
Cost & time estimates
Recruitment
Marketing techniques
Scope
TASK 4
(a) Impact of change management on the business and its personnel
According to demand of market place and to sustain competitive there, it is essential for
all firms to implement changes in their workforce system. They need these changes due to
expansion of their business, enlargement of functional scope and restructure cultural organisation
over there. But to implement these change in workplace requires many strategies, planning and
organising the things in an organisation. Changes in a firm affect over three phases that are-
people, process and structure. Change management not only effect a firm but also the
competitive environment too (Raposo and Paço, 2011). It covers a lot of risk and courage to
implement successfully. Concerning on these, Mainstage Travel Company of the UK, having its
business in tours and travels sector has effected much by changes in marketplace It mainly target
the young generation to get revenue and market share. Main area of this company which has
impacted much by implementing the necessary changes are:
Finance: It is the major part of an organisation that affected much by introducing
changes in companies, specially like tour and travel ones. It includes all funds require in flow of
entire operations smoothly.
Change in roles and responsibilities: To manage and control changes, management need
to divide roles and responsibilities of each member of a department who leads other employees
in order to handle situations perfectly as well as by managing conflicts too.
Structure of organisation: An organisation need to restructure its existing one in order to
meet and implement changes over there.
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Change in technology: With advancement of technologies, it is necessary for all
companies to adopt these which increasing their productivity as well as profitability.
Employees resistance: As a human being, for an employee it is natural to deny changes
at their workplace (Sharma, Chrisman and Gersick, 2012). As all are use to in what they are
working from a long time. Changes in their working process also brings insecurities in them. So,
management needs to handle it calmly and with positive attitude in reducing their conflicts and
resistance. Organisation need to provide necessary training to develop their skills regarding the
same.
(b) Measures to manage changes
An organisation having small or large business needs some approaches during
implementation of changes in its workplace as it involves much risk factor. To manage these
changes, Kotter's 8-Step model helps as :
 Creating Urgency: It involves in analysing need of changes as per market requirement or
crises over there.
 Centralised the power: To adopt changes in management, it requires to make a group in
every department who will handle further problems.
 Create vision: Company needs to make a clear vision of its objectives in eyes of
employees as well as should aware them about these dynamic changes.
 Communicate Vision: Management need to communicate with people who will influence
after implementing changes. They should try to make effective conversation with them in
order to know about their opinion.
(c) Monitoring the performance
The performance analysis is the min phase used by a company to excel through available
outcome. Balance scorecard refer to the tracker of performance that is opted by the larger entities
or associations (Van Der Wijst, 2012). This aid in meeting the worker performance along with
seeking the issues and their change influence in the Mainstage Travel. Evaluation is organised on
the designed model basis and task effectiveness of performance can be gained. This card often
work around the respected factors: Objectives: What are the objectives and aims, where the organisational benefit is in the
upcoming time ad how the organisation effort will assist?
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 Financial Performance: The requirements of finance and use in ideal way and use in
ideal manner that is the major management system factor. For example, forming a new
plant which include the higher expensive cost. Finance management evaluate the worker's
performance through maintenance of finance need. Efficiency: Through internal functions and processes, the monitoring the measurements
tools can be managed. Manufacture and procedure are one of the part of service and
product making. Scrape at minimum level as well as proper performance can develop
their efficiency. Organisational Capacity: After evaluation of entire elements of management
measurement is centralised the major strengths in the context of company. Through
meeting entire short and long term targets, company can meet the target and level of
sustainability.
 Consumer Satisfaction: A company work for this clients and this is essential to
consumer satisfaction (Small Business Enterprise (SBE) Owned Business Definition.
2017). Through evaluating complaints numbers as well as decrease the issues through
rendering the effective service of consumer.
Through the above aspects of organisation, controlling over the performance of an
organisation can be rendered which can help the company in sustaining in the competitive
industry. This is essential to measure the work criteria of company in order to meet desired
outcome and develop in better future for the future purpose in order to meet the Mainstage
Travel's company vision.
CONCLUSION
It can be summon from above report that small business organisations are the major
system of support to economy of United Kingdom which are the main market growth drivers,
and fillers of employment opportunities. The small business enterprise refer to the organisation
of business that has been less than turnover of 10million and employee less than 50 worker staff.
The recent market situation is better but this is dynamic for monitoring it an organisation need to
manage the performance to handle the outcome of future. The weakness identification is
essentials which aid in shortcoming and finding the work at at best level. An organisation's
business performance is crucial part of it. The business objectives of organisation refer to short
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term activities which is company operating in the market along with vision that support the
purpose.
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