Social Entrepreneurship and Enterprise

This assignment delves into the world of social entrepreneurship and enterprise, examining factors crucial for the success of small and medium enterprises (SMEs) internationally. It analyzes various aspects like financing strategies, ethical considerations, innovation drivers, and the impact of government policies. The provided references offer diverse perspectives on these topics, ranging from business ethics to the role of networks in fostering innovation.

SMALL BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK1.............................................................................................................................................1
1.1) Profile of small business and strength & weaknesses..........................................................1
1.2)Analysis of comparative measures used by business............................................................2
TASK2.............................................................................................................................................3
2.1 Appropriate actions to overcome the identified weaknesses...............................................3
2.2) Approaches to manage and strengthen existing performance.............................................4
2.3) New zones in which the independent company can grow ..................................................5
TASK3.............................................................................................................................................5
3.1) Assessment of existing business goal and plans. ................................................................5
3.2) Business intend to fuse fitting changes. ..............................................................................6
3.3)Action plans to implement the new changes........................................................................6
TASK4.............................................................................................................................................8
4.1)Impact on proposed changes.................................................................................................8
4.3 Improvements in performance of the business over a given timescale.................................9
4.2 Changes will be managed in Business................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Micro and small business at present era is playing a very important role in developing
and growing a nation. Government of the nation is very much indulged in developing small
business in market so that more benefits can be attained to nation. As this business is small in its
size so need of financial aspect at time of start-ups are very low so this also a reason that
government is supporting these sectors in market (Abor and Quartey, 2010). There is a federation
for these organisations which are planning several strategies so that small and micro businesses
can be able to get settle in competitive market. It have very high prospective to enhance and
develop present condition of a country.
Cafe Finix is a small business enterprise which is carrying out a coffee shop in Stratford
UK. It is performing all its activities and operations in 15002 foot which is very near to Stratford
College. Employees are only 7 working in this coffee shop and is part time workers. In this
report benefits and several aspects that are performed by company will be studied.
TASK1
1.1) Profile of small business and strength & weaknesses.
Cafe Finix is one of the small business which is dealing in London and is situated at
central place where large number of public is present. It is established in 2009, it provide
services regarding tea, coffee and breakfast. Customers are very much pleased with the services
that is been offered by it as because quality products are availed to clients. Mostly students of
college visits here and people who has working place nearby it and spare time to get relax. As to
understand the strength and weaknesses it is very essential for company to carry out a SWOT
analysis. This is very helpful for a firm to better know what are strengths and opportunities that
can be very supportive for company and those areas where it need to enhance and make proper
planning to improve various operating aspects (Altman, Sabato and Wilson, 2010). S,W(strength
and weaknesses) are internal controllable factors that are very helpful in knowing. As SWOT
analysis is very actively help any business firm to better perform in competitive market. It is very
important for Cafe Finix as because this will guide and show a path which is positively
impacting upon its operations and function and which has to be improved. Below are SWOT
analysis of company-
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SWOT of cafe Finix
Strengths
 Products availed to customers are of
very good quality.
 Food and other eatables are served very
fresh.
 Location of cafe is very correct as large
number of public is present around. Turnover is also very high due to high
sale (Bellucci, Borisov and Zazzaro,
2010).
Weaknesses
 As chosen location lies in a posh area,
hence rent is very high which is very
badly affecting the profitability of
company.
 As company is small in size and is not
having any brand image in market
therefore customers are less interested
in affording for its products and
services.
Opportunities
 Company can invest more money on
advertisement and promotion so that
customers will be able to get
information about offerings of products
and services.
 It can expand its business in new
market. Attract more customers and get benefit
through effective services.
Threats
 One of the biggest threat face Cafe
Finix is the competition. There are
many coffee shops in market which is
availing similar services to customers.
 Government policies are changing as
per political leaders are changing along
with this tax rates are also fluctuating,
this is affecting organisation's
operations ans functions.
1.2)Analysis of comparative measures used by business.
Cafe Finix is very effectively carrying out its operations and functions and is growing in
market in a very frequent manner. There is a UK based federation for small and medium
business which is assisting it to develop and increase its profitability. It is also influencing
company's employees in a positive way, along with manpower owners are also getting
motivation as to expand their business. Its sale in market for goods and services are also
expanding and profit margin is increasing in higher rates (Bridge and O'Neill, 2012). It is
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analysed that by 2012 to 2013 company's sales has grown by €80,000. In 2012 company's sales
value of Cafe Finix was €120,000 and in 2013 its value of sales was 200,000. Its profit in gross
rate has also increased due to its services and offerings availed to customers. Company is very
much focusing upon customers neds and wants, they are availing what actually clients are
willing to have. Due to its services and better quality its worth is increasing in market. It is also
helping firm in building trust of customers and because of its low cost in offered products and
services clients are increasing in subsequent manner (Carraher and Paridon, 2015). With support
to this company is able to earn maximum profit and overall growth of enterprise can be attained.
Company is running its business in very small level hence, it become expensive for it to promote
and do advertising. With help of mouth publicity company is able to do its promotion. As it is
availing effective services and quality is pertained in them so clients are doing this part in an
appropriate way.
TASK2
2.1 Appropriate actions to overcome the identified weaknesses
As the Stratford is having costly leasing property these may influences the profitably of
the organisation. In any case, Stratford gives an extensive no of chances to the small and medium
size businesses that overcome the shortcoming caused in the costly rents. The cafe Finix is
having great client base to its region. It increases upper hand over other private companies as its
area i.e. close to school, colleges and mall give huge no. of clients and resolves the issue of cost
brought about in higher lease. The Stratford is all around created city along these lines, it is
having low space accessibility. In this way, the cafe Finix client may encounter stopping issue
that influences the offers of the shop.
In this way, to counter this shortcoming of the cafe Finix can be understood because of
the making accessible stopping cove on lease before the shop. The organization should work
with the quality affirmation group for the item. This will prompts the drawing in more client
because of value administrations (Chell, Nicolopoulou and Karataş-Özkan, 2010). The stock
administration can be soft spot for the little endeavour as the proprietor is not overhauled with
the innovation and mange stock physically that can be a troublesome assignment. All in all, to
defeat this issue the cafe Finix proprietor ought to oversee stock proficiently streaming the First
in First out procedure . This aides in dealing with the stock viably and furthermore helps particle
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giving crisp items to the clients. The second soft spot for the cafe Finix is not having enormous
brand name that influences the offers of the organization. This shortcoming can be overcome
through giving quality administrations to client and giving great estimation of cash to customer
this aides in building better relationship and improve the deals and benefit for the cafe Finix.
2.2) Approaches to manage and strengthen existing performance
Cafe Finix coffee shop provides very good quality of services and the products. Purpose
of cafe is to maintain the quality of product they sell and retain its customers. This coffee shop
maintains a very well environment (Chittithaworn and et.al, 2011).
1. Better taste is main element that people want.
2. The environment of coffee shop should be according to the needs of coffee drinkers.
3. The other social elements like world events and economic situations do not effect the
coffee shop industries.
4. Some of the coffee shops offers many better options in comparison to other coffee shops.
The comparison between Cafe Finix coffee shops and other coffee shops is as follows in the start
ford:
 The quality of the coffee drink is better than the other coffee shops.
 The taste of coffee drink is better as compared to other coffee shops.
 The location of this coffee shop is best in between the down-town.
 The looks, decoration and styling of coffee shop is far better than other coffee shops. The
decoration is made out of glasses and art work.
 The atmosphere of cafe is great matching the taste of customers in comparison to other
coffee shops in the town.
 The hospitality services of it is better than other coffee shops.
 Many events are organised on weekends to entertain customers and make their evening
great only in Cafe Finix.
 There are so many flavours of coffee, tea drinks that tastes better than drinks offered by
other brands of coffee (Cowling, Liu and Ledger, 2012).
 Cafe Finix coffee shop is located at such a place that invites more and more customers
because its nearby to shopping centres and other rush areas of the town
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2.3) New zones in which the independent company can grow
By and by the cafe Finix is managing in the Stratford London close to the school and the
strip mall. This area includes fundamentally the undergrads, youths and the families who came
their for shopping. The new are for the business to grow can be building up a market base
focusing on the new clients (Di Domenico and Miller, 2012). The new extension are fro the Cafe
Finix may include:
1. Introduction of the new items in the cafe to draw in the more clients i.e. managing diverse
well known food of Stratford, distinctive sorts of smoothies, chocolate deride tails and
mixed drinks. This will grow the business with advancement of new clients base.
2. Foundation of the new shop in adjacent territory or choice of other gainful area like
London air plane terminal,. This aides in growing new class clients for the venture. This
will pull in more visitor and the representative to make buy of the result of the shop.
3. Growing business through diversifying the shop in various areas with help of other
intrigued financial specialists.
4. New market infiltration, enhancement of the independent venture can be new zones for
the extension of administrations of the Cafe Finix.
TASK3
3.1) Assessment of existing business goal and plans.
The business has its targets and objectives that will lead the cafe to be the best merchant
in the area. Cafe Finix coffee house is exceptionally well known for its items and the
administrations which it gives to the clients. It is put which is especially alluring and can be
casual here, all the worry of the day of individuals can be overcome here. The café has a few
targets as its real part that it needs to perform in its part to support in the market and to develop
in the long run (Draycott and Rae, 2011). The goal are as per the following-
 It need to give the best things to the clients.
 It essentially wishes to keep up the gross edge of around 65%.
 As in the nearby eatery manage it is to be chosen as The best Coffee shop in the zone.
 It need to benefit the administrations to the clients in huge number.
 The target it has attracted is to development much of the time, maintain and catch the
offer of the market.
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As the target cause the cafe to achieve the specific objectives like it is managing the
clients around 500 consistent schedule. The consistency of the administrations and the best
quality are given by its as in light of the fact that it utilizes espresso seed of high calibre.
The firm gives outrageous best nature of the administrations and items at a reasonable aggressive
costs. The items are profited to the clients is in the advantageous way. The cafe Finix café is
being the best specialist organization in the area
3.2) Business intend to fuse fitting changes.
The statistical surveying methodologies are created with the goal that the association can
have the capacity to draw in the new clients, and furthermore to manage and hold the current
customers of the firm. The system will help in making the clients more faithful towards the firm
and furthermore to make them spend increasingly cash on the items and the administrations of
cafe Finix coffee house. The faithful clients will never change to other company's items if the
firm is putting forth best and compelling administrations to them, this will help in the producing
of the higher benefits and deals will likewise get expanded
Cafe Finix has its own particular exceptional element in the market and the
administrations and additionally the vibe is likewise extremely alluring. The courses of action,
the foundation's legitimate outline, seats and couches are extremely agreeable, the light delicate
music and diminished light are exceptionally alleviating that can make clients feel so casual
(Fassin, Van Rossem and Buelens, 2011). The business exchanges are taken care of by shop's
counsellors, to benefit the administrations in successful way it is been arranged that two
representatives are to be serving the clients where as one will be taking and setting up the
request's of clients. The rest will take care of the over all administrations of the cafe and
furthermore the exchanges identified with the deals will likewise be considered by them.
As to execute the new plans and techniques the cafe will stand to advances through flags,
flex and blurbs and furthermore utilizes the references of the clients to pull in the new clients .
Likewise the emphasis is hung on the current clients maintenance designs so the normal clients
to return and spend more cash for espresso and related items.
3.3)Action plans to implement the new changes.
With the assistance of the activity designs the association can have the capacity to
accomplish the destinations and the pre decide objectives of it. Fundamentally activity designs
are those aides which help the Cafe or any of the business to realize what are to be done in
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earlier. Subsequently its is the setting up of the organize of carious undertaking as to acquire the
objectives and targets of firm (Forsman and Temel, 2011). The activity design essentially starts
with the rundown making of a few objectives, assignment organizing, acknowledgement of
different strides required, appointing the forces and duties and making aiding and emergency
courses of action.
Cafe Finix has primarily centred around two market, individuals of the region and the person
who goes for work or whatever other thought processes. Targeting and segmentation is very
important as because this will help in obtaining the objectives and set goals in appropriate
manner. As new plan has to be implemented there is a need for firm to segment the entire market
into different sections and then to target them so that services and products can be availed to the
required clients and as per them services and offerings can be made by company.
Market segmentation
The firm has wanted to achieve the understudies and the resources of the close-by
University, young people and the general population who works in workplaces. The exploration
done by the firm came to realize that the clients will probably by the gourmet espresso which is
world well known and individuals of each class will bear the cost of for this. Henceforth the
division is done as needs be.
Target market
Finix coffee house gives its administrations to those clients who need to get casual and
need to take the taste of best tasting espresso. The clients is not important to be of one class, thy
may differ in sexual orientations, age and so on. The Cafe is fundamentally arranged alongside
the University henceforth the clients visits' identity the understudies and resources. Numerous
understudies feels great investing energy and cash in cafés and they additionally feel ease in
concentrate there with tasting top notch coffee (Gronum, Verreynne and Kastelle, 2012).
Targetting the right market is essential for the firm to complete its operations in viable way as
they assume immediate and crucial part in the development and manageability of the Cafe.
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TASK4
4.1)Impact on proposed changes.
The business is not only get impacted by competitors but also affected by the other
external factors. In short it is called as PESTLE analysis that stands for political, economic,
technological, legal and social analysis and that is as follows:
1. Political factors: These factor includes government policies that are made to operate the
businesses. All companies and organisations are bound to co operate with rules and
policies that are made by nation's government (Herbane, 2010). This is the factor that
effects a business to a great extent.
2. Economic factors: These factors includes inflation rates of FDI limits and other
economical matters that effects a business. If there is increase in demand of any products
due to changes in living standards of the people than the prices of such commodity also
increases accordingly. There are many other factors like rate of wages and rate of interest
that effects the business. If rate of interest is lower than the business plans to expand
itself because it can raise loan and funds for expansion on low rates from the market.
3. Social factors: These factors includes the taste, trends, fashions of people living out there.
There is always some changes in living standards of people because of that demands and
trends changes. That effects business accordingly. It is important for the business to
understand changing fashion sense and taste of population and than accordingly make
production.
4. Legal factors: All business are bound to follow the laws and legislatures and if they fails
to do so than they are liable to be fined. Business strategies are always influenced by the
legal factors. The laws and legislatures are of changing nature so the business should
keep itself up to date whenever the law changes and apply it accordingly.
5. Technological: in today's era the world has become completely technological. And so
may new technologies are introduced from time to time. So it is important for any
business to be aware of the changes in the technologies and use them most efficiently to
run the business with full efficiency.
6. Environmental factors: As Coffee is been served to clients it is very essential for
company to keep the surrounding protected (Jones and Iredale, 2010). Management has
to keep an eye on customers that dumping of waste must be in dustbin. And staff also
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should take proper care of environment. This is an important aspect that has to be
concerned the most.
Effect on the business
1. Enhanced state of mind- The progressions that the firm execute in the business may influence
the labour in both negative and positive way. The representatives when adjust the progressions
will improve their inspiration and certainty. Henceforth the demeanour of the representatives will
enhance decidedly (Malhotra and Temponi, 2010).
2. Expanded productivity- Changes are benefited for in any way thought process in this manner it
when adjusted and executed successfully then the execution of the firm will bring about effective
way.
3. New open doors- The progressions will bring numerous new open doors for the firm to
complete its operations in a wide range of way. The open door can be development of the matter
of its broadening in the market or to catch the offers of market.
Effect on personnel
1. Loss of the loyalty- The representatives who contributed their the vast majority of their
life for the development of the firm has completely devoted themselves for the
association, when the condition of changes happens they feel irritated and oppose for the
change this will bring about dependability misfortune by the workers towards the firm.
2. Mental anxiety- The change may make a circumstance of mental worry for the
representatives as in light of the fact that the normal demonstration will get changed and
the new strategies and gauges must be taken after which wind up plainly troublesome for
them to adjust
4.3 Improvements in performance of the business over a given timescale
It is a notable fact that monitoring on a continuous basis is considered as an important
part for a country. It is a tool which assists a particular organization to enhance and improve its
performance. In context of Cafe Finix, management realises its importance as it would lead to
attainment of its business objectives in an effective manner (Abor and Quartey, 2010). In
addition to this, it has been considered that improvement and enhancement of business is a long
term procedure. Also, to manage and balance the consistency is considered as a main issue.
Furthermore, customer satisfaction is considered as a most important part which determines the
success of a company. So, considering this, Café Finix is desirous of monitoring improvement so
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that they can track their flaws and deviations from set results. In addition to this, monitoring of
performance can be attained by research and survey.
Also, many organizations are not successful in effective monitoring of change in aspect
of their operations and activities done. So, in order to monitor change, cited organization should
involve all its stakeholders to render desired input. For the purpose of effective monitoring, an
action plan is to be formed which can assist in achieving its objectives (Altman, Sabato and
Wilson, 2010). Also, corrective actions should also be adopted. Cited organization has improved
its business activities as they have installed effective coffee machines which can be held
responsible to deliver proper services to its customers. Also, Café Finix has formed an opinion to
deal with their customers with due respect and efficiently. It is a notable fact that continuous
monitoring also leads a business corporation to identify fraudulent operations and activities.
Moreover, it also helps in identification and assessment of threats. Along with this, it can also
suggest several ways to mitigate them.
4.2 Changes will be managed in Business
Cafe Finix is a small business firm and to manage its business, this business firm make
changes in the process or in operations of business with the help of introducing the new plans,
strategies and policies. Changes can be good for the business process and can not be good. Most
of the times, many small companies faces some problems(Bellucci, Borisov and Zazzaro, 2010).
Generally some person do not like any types of changes because they feel unsafe, fear. The
management of Cafe Finix business firm conducts some tasks or activities which are helpful
maintaining the condition of its market and or business. To make in changes in its business , the
operations of this business can be operate proper. For managing the change, this business firm
make some plan which is effective and efficient for all:
 Provide training and development programme to all employees regarding the change ion
its business enterprise. With the help of training manager can easily are employees about
the new changes and all workers can easily adjust on new environment of business.
 Take feedback for the all employees or customers about the changes and then with the
help of this, company can know about the that new change is good for business or not.
 Keep and maintain the records related to changes.
 Determine that new changes can be perform for the long term and can be for the short
term.
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To check the effectiveness of new plan, it is necessary to this business firm to match the
actual performance of business with the expected and it should be monitor to company that
changes are work smoothly and effectively(Bridge and O'Neill, 2012). If its business is growing
or developing in a fast way then all the changes or modifications must be plan those activities
which is related with every employee.
CONCLUSION
The private venture like Cafe Finix is having high development openings and lower
dangers from alternate contenders. This includes fascination of neighbourhood clients towards
their item. The administration and the alliance of independent company is serving to the huge
degree being developed of the private companies. The private company us having more
extensive extent of development of their administrations, product offering, showcase base and
the business. There are numerous open door that independent company can snatch and make
more benefit in the little day and age. The independent venture are specifically managing the
mouth to mouth notice of the item and administrations this prompts improvement of solid
connection between the client and the endeavour. Along these lines, by keeping up the present
quality of the business and garbing the accessible chance of development the private venture like
Cafe Finix can acquire more benefit and acquire large number of deals in the market.
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