Small Business Enterprise Assignment ( SBE )
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Added on 2020-06-06
Small Business Enterprise Assignment ( SBE )
Added on 2020-06-06
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SMALL BUSINESSENTERPRISE
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Strength and weaknesses of selected firm.............................................................................11.2 Comparative measures of performance.................................................................................2TASK 2 ...........................................................................................................................................42.1 Recommend with justification appropriate action over the identified..................................42.2 Analyse the ways through which existing performance could be strengthened...................52.3 Recommend with justification in which company could expand their business..................6TASK 3............................................................................................................................................73.1 Assessment of business objectives and plans .......................................................................73.2 Revise business plans to implement appropriate changes.....................................................83.3 Prepare action plan to implement the changes......................................................................9TASK 4..........................................................................................................................................104.1 Report on the impact of the proposed changes on the business and its personnel. ...........104.2 How the changes will be managed in the business. ...........................................................114.3 Monitor Improvement in the performance of business. .....................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONSmall business is the firm which is based on small scale. According to the companylegislation, small business turnover is around £2.8 million. Small business. Small scalebusinesses generally have less than 50 employees in the business. In addition, these enterpriseshave small amount of capital to be invested in the business. Government of UK tries to motivatesmall start-ups to enhance the company performance. It prompts SME (small scale enterprises).Furthermore, the government provides various facilities such as loans, low regulations, low taxrates etc. as these small businesses give new opportunities to the economy. Small scaleenterprises are very important to enhance the growth of economy through job opportunities,product and services etc. It also helps to grow national income. it has opportunity to grow itsbusiness into big level. Small scale firms support the national income and give opportunity toenhance the growth. Present report is based on small scale businesses. For this report, SoftwireCompany limited will be taken under consideration. It is a software based company. Moreover,the report will cover strength and weaknesses of Softwire technology. Apart from that, it willfocus on changes for betterment. TASK 11.1 Strength and weaknesses of selected firmSoftwire technology is the small-scale company in United Kingdom. It was founded in1999 on August, 13. Its headquarters are in London and Bristol. Softwire company deals withthree main products: Reservwire, job finder and Web map. On the basis of statistic data, thiscompany has 58 employees(Ackermann and Audretsch, 2013). The early turnover of Softwirecompany is 5 million. It is the excellent it firms in UK. Small scale companies acquire heavyprofit from the market. The main target of this firm is to attract enterprises, service providers,consumers and medium sized businesses. There are some strength and weaknesses of Softwirecompanies as discussed below.StrengthsWorking environment: Softwire technology have good working environment. Itsemployees are the main strength of the company which creates healthy and positiveenvironment in the firm. However, employees of the company must be talented and skillfull. This is because they help company to accomplish their overall objectives. 1
Research and development: Research and development department of the company isvery different and talented. It creates many of the good services which gives profit to thefirm. Apart from this, it will also discover new technologies and corrective action plans toaccomplish the target in an effective way. R&D department of the cited firm invent newsecurity solution software for their clients. It helps in retaining the clients and enhancingthe overall sales. Brand Image: Softwire technology has good brand image in the competitive market. Itprovides the latest technologies and good IT solution products by which customers arevery happy and satisfied(Bartlett, 2015). This activity assists in enhancing the company’sbrand value in the market. Small level of organisation gives benefit to focus on each activity.Flexible in work and quick follow up action. WeaknessesCompetitive Market: Soft wire technology is the small scale company. It has small andlimited resources to compete with the big organisations. Also, small scale companyalways face high competition level as mostly, big companies grab the attraction ofcustomers and minimise the role of small businesses. To overcome from these issues,Softwire technology needs adoption of the latest technologies and formulation of betterIT solution plans for the clients. Limited resources: It has limited number of resources which gives slow output to thecompany. In addition, it has limited fund to acquire heavy range of technologies. Smallscale enterprises generally have limited expansion growth in the market.It also has limited investing amount to grow the business. Furthermore, the company alsohave limited plans and strategies. 1.2 Comparative measures of performanceComparative measure of performance is the process to identify the actual performanceout of desired performance. It also helps to measure the company’s actual position in the market.The major rival companies of Softwire are Icreon and DCSL. Rival companies may increase thepressure on the company. To evaluate those issues and conflicts, company adopt some evaluationmethods as given below(Blackburn, Hart and Wainwright, 2013). 2
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