Small Business Enterprise : Assignment (Doc)
Added on 2020-10-04
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SMALL BUSINESSENTERPRISE
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1A. Type, structure, size, mission and goals & objectives of the organisation and internalconstraints & restrictions on the business..............................................................................1B. Comparison of current performance of the business with the previous years...................2TASK 2............................................................................................................................................5A. Actions to overcome from the weakness by using model................................................5B. Ways through which current performance can be maintained and strengthened..............6C. Appropriate actions taken for the expansion of business..................................................7TASK 3............................................................................................................................................9A. Business plan for organisation with detail assessment of objectives & plan....................9B. Revise plan with changes in business objectives & preparation of an action plan..........10TASK 4..........................................................................................................................................11A. Impact of changes on organisation internally & externally.............................................11B. Plan to manage changes in business................................................................................12C, Methods to improve performance of business after changes...........................................13CONCLUSIONS............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONSmall scale enterprises are companies which owned & controlled by partnership firm &corporation which does its operations by employing less number of employees 10-15 and havinga turnover of £2 million to £10 million. Most of the businesses running in the United Kingdomare small scale enterprises. This report includes type, structure, size, mission & objective andinternal constraint & restrictions of Qbic Hotel. Further, this report compares currentperformance of the hotel with the previous year. Furthermore, this report explains actions toovercome from the weakness & to expand the business. Moreover, this report elaborate ways toimprove & maintain current performance of the hotel. Further, this develop a business plan andrevise the plan in accordance with the changes in business objective. Furthermore, this reportexplains impact of changes on internal & external operations of the hotel. At last, this reportdevelop a plan on managing the changes and monitor & improve the performance of hotel afterchanges.TASK 1A. Type, structure, size, mission and goals & objectives of the organisation and internalconstraints & restrictions on the businessQbic Hotel is a UK based small scale hotel which is offering its services in Amsterdam &London. It is a 171-bedroom hotel and offers cool & modern accommodation facilities to thecustomers (Kandampully, Zhang and Bilgihan, 2015). Type- Qbic hotel is an organisation of hospitality sector and it is a type of Hotelsmall scale business which offers various services such as foods & beverages,accommodation and vehicle facility to its customers. Structure- Qbic Hotel follows a hierarchical structure which shows leadership atall the levels operating in the hotel.Size-Qbic Hotels is Small scale hotel which generate revenue of £6 million perannum. Mission-Mission of Qbic Hotel is to offer modern & affordable services to thecommunity and to provide cool & valued experience to the customers.Goals-Goal of Qbic Hotel is to expand its business in 10 more cities in UK & alsoin Europe in next 7 years. 1
Objectives-Objective of Qbic Hotel is to enlarge its operations by offeringcomfortable bed, peaceful bedrooms, clean accommodation, free Wi-Fi and tasty& hygienic food. Internal constraints & RestrictionsCapital Availability- Qbic Hotel is a small scale business so it has a restriction oninvestment of further capital turnover because turnover of this type of business cannotexceed above £10 million (Ahmed, Wingert and Gad El Rab, 2015).Financial Constraints- Qbic Hotel is a small scale business so it also has a restriction onits budget and spending. Hotel cannot spend much on improving its facilities & offeringsbecause it is a small scale business.B. Comparison of current performance of the business with the previous yearsThe current performance (2018) of the Qbic Hotel is improved from the previous year (2017)performance. There is an increase in cash inflows of hotel in year 2018 by 1.7% as compared to2017. A huge increase in assets & decrease in liabilities of the hotel shows Hotel is in a goodposition & it has sufficient assets to meet its all liabilities. Assets of Qbic hotel is increase by49.03% from the previous year and liabilities are decreased by 35.07% as compare to theprevious year. Net Worth of the Qbic Hotel shows an declining trend and it is declined by18.79% in 2017 as compared to 2018 which shows a reduction in annual growth rate. Whereasoverall operations of the hotel is in profit (Lashley, 2016).2Illustration 1: Annual RevenueSource: (Qbic Hotel Revenue, 2015)
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