Small Business Management & Marketing

This assignment delves into the world of small business management and marketing. It analyzes the unique challenges these enterprises face and explores key strategies for success in both areas. The document covers topics such as financial management, personnel considerations, and the impact of e-marketing on small business growth. It ultimately concludes that even with limited resources, small businesses can effectively manage their operations and market their products or services.

SMALL BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION...........................................................................................................................1
1.1 Profile Of Qbic Hotel including strengths and weakness.....................................................1
1.2 Carry out an analysis of the business using comparative measures of performance............2
2.1 Recommend with justification, appropriate actions to overcome the identified weaknesses
in the business.............................................................................................................................3
2.2 Analyse ways in which existing performance could be maintained and strengthened.........4
2.3 Recommend with justification, new areas in which the business could be expanded..........5
3.1 Produce an assessment of existing business objectives and plans........................................6
3.2 Revise business plans to incorporate appropriate changes...................................................7
3.3 Prepare an action plan to implement the changes.................................................................8
4.1 Report on the impact of the proposed changes on the business and its personnel..............10
IMPACT OF THE PROPOSED CHANGES ON THE BUSINESS........................................10
4.2 Plan how the changes will be managed in the business......................................................10
4.3 Monitor improvements in the performance of the business over a given timescale...........12
IMPROVEMENTS IN THE PERFORMANCE OF THE BUSINESS....................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
A small business enterprise is considered as a business that involves the employment of a
few numbers of employees. These are privately owned firms who does not work with a focus of
keeping higher targets and goals. These organizations can be any retail stores, grocery stores,
restaurants etc. Small business enterprises have a distinct way of identifying and implementing
the characteristics that makes them different from the large companies. The report is about
investigating the performance of Qbic hotel and along with it, revising all its business objectives
and plans for incorporating all the changes. It also includes the change management and its
impact on various operations of the Qbic hotel.
1.1 Profile Of Qbic Hotel including strengths and weakness
Name of the business
enterprise
The Qbic hotel
Location London
Estimated value £5-8000
Mission The mission of the Qbic hotel is to satisfy their customers by
providing them every facility they want.
Strengths  The Qbic hotel provides a sort of small relief on taxes. AS
other hotels charge a huge amount of tax on rooms as well
as the dining, but the Qbic hotel provides a relief on this. It
does not charge any extra amount rather than the normal rate
of the room and the specified food items (Storey, 2016).
 Along with the rooms and a perfect dining experience, the
hotel also has a small gym for the people who are in routine
to the gym and can't gym because of holidays. This feature
of the hotel makes it different from the others.
 The hotel has another great consideration as it is referred as
pet friendly, which means it allows the pets of the people as
well without bothering about that the pet may unclean the
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whole hotel. So, it allows pets as well.
Weakness  One of the biggest disadvantage of Qbic hotel is that it has a
very small conference room. It can only occupy 9-10
members, which is not a good deal for large conferences.
Many people who visit the city for conferences obviously
wants a huge and a larger space for the meetings, but Qbic is
not able to provide them that efficient space.
 The Qbic hotel has only two chains, one in London and the
another one in Amsterdam. It has no other branch
throughout the world. This makes the hotel less popular
because it is not expanded in other countries. It is restricted
to only these two cities.
 The hotel has very limited ways of promotion and that too
are not so efficient. Because of which, very fewer people
know about the hotel and are aware of the facilities that the
Qbic hotel provides.
1.2 Carry out an analysis of the business using comparative measures of performance
From the analysis it was it is identified that due to ineffective marketing tactics in 2015,
the sales has been reduced.
Year ending 2016 Qbic hotel Maxin curry
Employee turnover rater 4.00% 8.10%
Employee job satisfaction 85.00% 65.00%
Job offers 35.00% 18.32%
Absenteeism 18 Days 25 Days
Year Profit after tax 20% ($000) Profit before tax ($000)
2016 488 530
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Year Profit after tax 20% ($000) Profit before tax ($000)
2015 435 520
2014 385 436
2013 425 510
2012 415 490
The above table shows the profit generated by Qbic in five years. From the above table it
can be understood that organisation shows increasing in profits and only faced one declination
that was in year 2014. In 2014 due to volatile policies of the organisation and recession, small
businesses' organisation were unable to generate profits effectively and efficiently (Eid, and
Gohary, 2013). After the implementation of particular strategies that aid in attraction of
customer, the organisation was unable to generate profit ratio efficiently. The previous year
profit recorded was $458000.
Comparison of sales of Qbic and Maxin curry:-
YEAR THE Qbic HOTEL Maxin CURRY
2016 400 358
2015 300 320
2014 240 190
2013 278 245
2012 265 235
2.1 Recommend with justification, appropriate actions to overcome the identified weaknesses in
the business
HUMAN RESOURCE MANAGEMENT
The management of human resources is compulsory for Qbic to manage work on time
and it includes the human resource management development which is to improve the work
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ability of employees within the organisation to achieve their individual goals and targets along
with objectives.
SERVICES AND PRODUCTS
The services of Qbic will be improve and more developed in the case of applying
appropriate plan or action for the organisation. A better service to the customers helps business
to make its goodwill and improve its social image so that the purpose of the organisation can be
solve.
CUSTOMER RELATIONSHIP
The small businesses have the key opportunities to maintain their image and brand is
maintaining relationship with customer in Qbic. The customers who visit Qbic will tell others the
reason why Qbic is better option for them to stay, eat etc. Maintain a relationship with customer
by providing best services to them also available the resources they want. This will create a good
positive thinking for customers and they automatically become a strength for organisation.
FINANCIAL ISSUES
This is a very important part of objectives for small businesses that they need to make
financial plans for the organisation to maintain their financial costs and capital. Maintaining
financial operations help organisation Qbic to be prepare for long term projects and future
opportunities. Small businesses need to maintain their costs as they made regular changes in their
organisation to make effective impression.
RESEARCH AND TECHNIQUES ISSUES
Research and techniques are used to develop the small markets, in this modern
environment of competitors small businesses need to develop and improve their techniques and
research for finding new opportunities for Qbic hotel (Cowling, and 2015). The techniques are
based on two bases quantitative and quality. The quality techniques include visions, opinions,
perceptions of employees in both internal and external environment of organisation. The
quantitative techniques solve he inappropriate issues also provide content to the organisation in
terms of profit and loss ratio, comparing performance analyse and planned objectives and results.
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2.2 Analyse ways in which existing performance could be maintained and strengthened
New opportunities are competitive and also benefiting for Qbic hotels. The small and
large both businesses face opportunities during the operations of their activities of business. Here
are some opportunities exists to maintain and strengths of Qbic hotel.
IDENTIFICATION OF STRENGTHS
Identification of strengths is the responsibility of business markets to expand their
businesses activities and strengths. The targeting areas of Qbic business is helpful to share the
markets, profitability and portfolio of customers.
CUSTOMER RELATIONSHIP
The small businesses have the key opportunities to maintain their image and brand is
maintaining relationship with customer in Qbic. The customers who visit Qbic will tell others the
reason why Qbic is better option for them to stay, eat etc. Maintain a relationship with customer
by providing best services to them also available the resources they want. This will create a good
positive thinking for customers and they automatically become a strength for organisation (Han,
and 2014).
DEVELOPMENT OF MARKET
Development of markets allows them to meet new opportunities. In the process of market
development organisation and marketers use the method of contemporary marketing or
techniques which help them to develop the market of Qbic hotel.
RESEARCH AND TECHNIQUES
Research and techniques are used to develop the small markets, in this modern
environment of competitors small businesses need to develop and improve their techniques and
research for finding new opportunities for Qbic hotel. The techniques are based on two bases
quantitative and quality. The quality techniques include visions, opinions, perceptions of
employees in both internal and external environment of organisation. The quantitative techniques
solve he inappropriate issues also provide content to the organisation in terms of profit and loss
ratio, comparing performance analyse and planned objectives and results.
REBRANDING
Rebranding of product and services also helps the organisation and marketers to meet
new opportunities which is appealing for new customers. Rebranding of services makes
organisation effective towards their customer views by improving their hotel services, (food,
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servicing, staff management, improving human resources). The Qbic hotel is able to manage
their strengths and performance with these activities and also attract customers by using this.
2.3 Recommend with justification, new areas in which the business could be expanded
IDENTIFICATION OF AREAS
Identification of areas is the responsibility of business markets to expand their businesses
activities to the outside areas of central markets, but for evaluation and market with targets fails
outside their geographical areas (Grant, and 2014). The targeting areas of Qbic business is
helpful to share the markets, profitability and portfolio of customers.
EXPORTING
The small businesses can expand their business in other nation by evaluating the
competitors and business requirements. The marketers of business need to venture into export
marketing known as international market or trade. Export businesses improve their growths and
increase their profitability but suffer from obstacles sometimes such as different languages,
currencies difference, rule and regulations, business environment and the social culture.
SOCIAL MEDIA
Social media is an easy platform to meet new and different peoples. Organisation can
also expand its business thorough social media networking. Social media such as Facebook,
Twitter, Instagram, Tinder is full of population along with outside countries. It is a platform
where Qbic can explore and inform about its business and services in front of people so that
people get to know about the organisation.
ADDING NEW SERVICES AND STRATEGIES
This kind of strategies sound simple in applying but so tough to execute it in the business.
The organisations' manager need to find the services regarding to the customers and make
strategies according to the needs of organisation and customers (Wynn, and 2016). To
accomplish the services and resources expansion manager needs to take research on market
situations.
EXPAND INTO NEW TERRITORIES
This type of expansion involves opening a new branch with new locations across the
town or country. By market research manager of Qbic can find the areas where the customers are
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demanding and the new territory is justified for expansion. The population or visiting countries
are the best place for Qbic to open its new branch and expand its business.
3.1 Produce an assessment of existing business objectives and plans
SMALL BUSINESS OBJECTIVES AND ACHIEVING PLANS
The business objectives are the elements to achieve and grow business. Business have
some clear goals and objectives that employees can work upon them towards achievement and
success of Qbic.
PROFITABILITY
Every business small or big works for profit. Profitability is making sure that the revenue
of business always ahead of the cost of business (Ward, and Rhodes, 2014). Organisation needs
to prepare plans for controlling the cost of operations and production with maintaining the profit
of business.
CUSTOMER SERVICE
Good customer relationship and service helps organisation to retain customers and
generate revenue. The primary objective of Qbic is to keep happy its customers that they give
positive reviews about the organisation and make its goodwill among peoples. Qbic can keep its
customers happy with providing visiting cars, side scenes, informations and services.
ADVERTISING AND MARKETING
Advertising and marketing is a necessary objective for Qbic organisation that effect on
organisations brand name and goodwill. Through advertising organisation can extend its
customers and give information about their business and why they choose this. Marketing
understands the trends of customers so it can make trendy changes in the organisation and
improve its market share.
FINANCIAL MAINTENANCE
This is a very important part of objectives for small businesses that they need to make
financial plans for the organisation to maintain their financial costs and capital. Maintaining
financial operations help organisation Qbic to be prepare for long term projects and future
opportunities. Small businesses need to maintain their costs as they made regular changes in their
organisation to make effective impression.
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SERVICES AND PRODUCTS
Services and products of the organisation is a part of objective that customers wants good
services and products as they set their minds towards organisation with this. A good service can
make effective image of organisation with quality of products available for the customers.
Execution of service plans make it better and provide good services respectively.
3.2 Revise business plans to incorporate appropriate changes
Revise business plans to incorporate appropriate changes
Developing and make necessary changes in business plans is very important for the
organisation Qbic betterment. In this modern culture the taste and choice of peoples regarding to
the services and quality is changing day to day. The organisation needs to make and develop
flexible changing plans for the changing environment of organisations and culture. The
organisation Qbic faces such type of problems like quality and services changes. People are
becoming more upgraded day by day, a tough competition in every sector allow the Qbic to
make regular changes and be effective from others (Giaoutzi, Nijkamp, and Storey, 2016).
People are more fashionable and demanding to receive facilities that the Qbic need to enable
some other facilities in their rooms like TV, Games, AC and many other things to meet
customers demand. However, the celebrities also stayed at Qbic hotel which attracts more
customers towards the hotel. The organisation need to rule over its competitors for reaching its
purpose, relation with the local communities or auto drivers, cab agencies help hotel to find new
customers. A good strategic planning requires continuous reviews for implementing where the
organisation is standing, where it was and where it wants to go. Plan should be full of some
specific budgets, forecasting, dates and responsibilities of management. The plan must be
reviewed for result and with the help of reviews organisation Qbic make corrections and tuning.
The organisation should made a consistence strategy and should avoid the process of jumping
from one strategy to another. The plan should be flexible enough to make necessary changes at
any time which do sent affect the strategies and implementation. The organisation should avoid
the major changes in internal situations such as changing ownership, divorces of partners, deaths
and investments. The main purpose of maintaining the plan is to use the business results as a
guide to make the future decision of the organisation. The plan has no value if its not able to help
in your business. Starting a small business is complex life altering and time consuming. There
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are so many things in a business than just providing services and products such as business
finance management, security of business and its assets, keep business legal, paying taxes on
time, keeping record of the customers and management of employees and many more.
3.3 Prepare an action plan to implement the changes
ACTION PLAN TO IMPLEMENT THE CHANGES
It is well said and true that changes can be blessings for organisation or can be a reason to
kick out (Blackburn, Hart, and Wainwright, 2013). People are changing their needs continuously
or people have different choices for products and services. To adapt this changes organisation
make action plan for implementing changes in it.
Identify projects for change
The organisation Qbic must be able to know the priorities of customers which needs
immediate attention, change and improvement. Talking with people determines the appropriate
and possible requirements before organisation adopt any change plan. Simulation and proposed
area of change understanding the organisation aptitude change, involving the people reaction on
the changes that defines what now have to do for the successful execution and adoption. The
organisation accept and evaluate every feedback given by the customer. Determine the changes
and improvements which could be made upon well asked questions also the evaluation of
employees and management allows organisation to make new changes and execute a new plan
for Qbic.
Develop an effective communication plan
The organisation must have a clear vision to communicate and manage sustainable
changes. The development of effective communication strategy for the organisation is a corner
stone for the support, success and execution of the plan.
The organisation should explain the objectives and goals of the changes, why the changes
is necessary, speak in terms of the organisation and the benefits from the changes, after changes
defines the new roles and responsibilities and also keep providing the progress updates top the
employees of the organisation (Williams, and Tsiteladze, 2016).
Eliminate implementation barriers
Implementation barriers are those people who see the changes as the waste of time and
get unhappy and some other people see this as a weapon of organisation Qbic. The organisation
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understands the potential obstacles from all quarters for the change in plan. The project should be
planned as the need of the organisation and it also well communicated with questions and
answers.
Develop the change plan
The organisation should formulate the clear vision of changing the plan and its goals.
Understanding of the chosen specific area. Determine the cost of the project and isolate the
potential implementation obstacles. Create the change plan with a clear vision and written
document which provides the information and ensure the execution of plan.
4.1 Report on the impact of the proposed changes on the business and its personnel
IMPACT OF THE PROPOSED CHANGES ON THE BUSINESS
New opportunities
The changes will help the employees in Qbic to create new opportunities. The employees
will try to understand the new opportunities and made changes which help them to understand
what they need to do now for the achievement of organisation and their personal goals.
Increase efficiency
The changes can make the work process efficient and the employees effective. The new
techniques in changed plan help employees to do their work on time or before time also the
strategies to handle the customers and relationship.
Encourage innovation
The changes in plan can foster the environment positively, which encourage the
innovations. Employees who thinks that their ideas are good and considerable by a manager is
more willing to think them creatively which helps the business to grow naturally.
IMPACT OF THE PROPOSED CHANGES ON PERSONNEL
Performance
An employee performance is vital for the success of organisation and profitability in the
environment he is working. The performance of employees and manager can be improve or
decrease according to the changes or may be easy or difficult. The effective changes will
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improve and develop the individual performance of an employee and however the working
power will be strong in the comparison of before in the Qbic (Barber, Metcalfe, and Porteous,
2016).
Effect on attitudes
Changes will also affect the attitude of an individual employee which means the
employee will work either freely or get stressed from his innovative work. The change in attitude
of an employee also affect the nature of business Qbic. Regarding, the employee will do his work
better or may be worst.
4.2 Plan how the changes will be managed in the business
THE CHANGES WILL BE MANAGED IN THE BUSINESS
Management support for change
Employees feel comfortable when they see management is helping them to accept the
new changes. It is critical that managers are supporting the employees but to help organisation
Qbic they support entire staff. There is nothing wrong than providing mix information to the
employees.
Employee involvement
All changes in efforts will involve employees at some level. The changes in organisation
Qbic needs to be explained well and communicate to those employees which affect their work.
Employees are the most relevant and close person to the process of changes that it is more
important that they know the reason behind the changes and participate in creating other
processes (Groen, Cook, and Van der Sijde, 2015).
Communication of changes
Communication changes should be systematic and structured as employees are the main
person of management and should aware of reason behind changes. A good communication will
reduce the rumours behind changes and minimize the resistance and make employees feel free.
Implementation
Once the plan is established, it is important to have a good communication about the
implementation of the changes. Implementation should be made in a timeline and also the
changes made in an order to impact of the process which employees can manage. An effective
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timeline allows the techniques, equipments, and training taking their places before
implementation.
Case for change
It is critically important that there should be a case behind the changes made. A case for
change can come from various sources which can be the result of information collection,
customer satisfaction survey, employees satisfaction level and business goals.
Follow up
After the change is made and implementation is done, it is always good to follow up and
evaluate how the organisation Qbic is working after the changes and what results are coming is
the main point which is intended.
4.3 Monitor improvements in the performance of the business over a given timescale
IMPROVEMENTS IN THE PERFORMANCE OF THE BUSINESS
Continuous monitoring of the business activities helps the organisation to improve its
performances level and also gain the objectives of customers. Improving the performance level
of the Qbic organisation is a long term process and also a main issue. Improvements in the
performances of business are:
Financial management
The implementation of plans will reduce the financial issues such as organisation cost,
funds and capital. The financial management is so important for small business organisation that
they can take the advantage of future opportunities.
Human resource management
The plan includes the human resource management development which is to improve the
work ability of employees within the organisation to achieve their individual goals and targets
along with objectives.
Services and products
The services of Qbic will be improve and more developed in the case of applying the new
plan for the organisation. A better service to the customers helps business to make its goodwill
and improve its social image so that the purpose of the organisation can be solve.
Strengths
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The new plan implementation also increase the level of strengths of the Qbic
organisation, that the business operations will run more successfully and management strengths
will be improve so that the level of customer satisfaction will also increase positively
(Yakovleva, and Vazquez-Brust, 2017).
New ideas and innovation
The new plan or changes plan include some new ideas for the staff and employees which
help them to improve their own work progress and the new techniques help them to reduce the
time of working with work done effective and with efficiency.
The business will improve its own performance as well as the employees. The
implementation of these improved elements help business to grow faster and make it effective in
the terms of providing services, achieving its objectives and goals.
CONCLUSION
In this report the small business of Qbic hotel is described with identification of strengths
and weakness also a analysis report with tables using comparative measures of performance. The
weakness and strengths of Qbic is also described in details. The maintaining strengths and
performances with areas where business can expanded is also explained. Business objective,
plans changes, on business and personnel is also included and the final conclusion of this report
is small industries can also manage their businesses and markets.
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REFERENCES
Books and Journals
Storey, D.J., 2016. Understanding the small business sector. Routledge.
Eid, R. and El-Gohary, H., 2013. The impact of E-marketing use on small business enterprises'
marketing success. The Service Industries Journal, 33(1), pp.31-50.
Cowling, M., and et.al., 2015. What really happens to small and medium-sized enterprises in a
global economic recession? UK evidence on sales and job dynamics. International Small
Business Journal, 33(5), pp.488-513.
Han, L., and et.al., 2014. The use and impacts of bank support on UK small and medium-sized
enterprises. International Small Business Journal, 32(1), pp.61-80.
Grant, K., and et.al., 2014. ‘Risky business’: Perceptions of e-business risk by UK small and
medium sized enterprises (SMEs). International Journal of Information
Management, 34(2), pp.99-122.
Wynn, M., and et.al., 2016. The impact of customer relationship management systems in small
business enterprises. Strategic Change, 25(6), pp.659-674.
Ward, M. and Rhodes, C., 2014. Small businesses and the UK economy. Standard Note:
SN/EP/6078. Office for National Statistics.
Giaoutzi, M., Nijkamp, P. and Storey, D.J. eds., 2016. Small and medium size enterprises and
regional development. Routledge.
Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small business performance: business,
strategy and owner-manager characteristics. Journal of small business and enterprise
development, 20(1), pp.8-27.
Williams, D. and Tsiteladze, D., 2016. Assessing the Value Added by Incubators for Innovative
Small and Medium Enterprises in Russia. Technology Entrepreneurship and Business
Incubation: Theory Practice Lessons Learned, pp.151-178.
Barber, J., Metcalfe, S. and Porteous, M. eds., 2016. Barriers to growth in small firms.
Routledge.
Groen, A., Cook, G. and Van der Sijde, P., 2015. New technology-based firms in the new
millennium. Emerald Group Publishing.
Yakovleva, N. and Vazquez-Brust, D.A., 2017. Multinational mining enterprises and small-scale
artisanal miners: from confrontation to cooperation. Journal of World Business.
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