Importance of Small Business Enterprise : Assignment

Small Business Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Produce a profile of a selected small business identifying its strengths and weaknesses.....1
1.2 Carry out an analysis of the business using comparative measures of performance ...........3
TASK 2............................................................................................................................................4
2.1 Recommend with justification, appropriate actions to overcome the identified weaknesses
.....................................................................................................................................................4
2.2 Analyse ways in which existing performance could be maintained and strengthened.........5
2.3 Recommend with justification, new areas in which the business could be expanded..........6
TASK 3............................................................................................................................................7
3.1 Produce an assessment of existing business objectives and plans........................................7
3.2 Revise business plans to incorporate appropriate changes...................................................9
3.3 Prepare an action plan to implement the changes...............................................................10
TASK 4..........................................................................................................................................11
4.1 Impact of the proposed changes on the business and its personnel....................................11
4.2 Plan how the changes will be managed in the business......................................................12
4.3 Monitor improvements in the performance of the business over a given timescale...........13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
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INTRODUCTION
In today's scenario there are number of small business emerges with different motive and
plays a very eminent role in a development of economy by introducing new ideas. Basically
companies which are small in size are having employees less then 50 whose main motive is to
generate more and more revenue to raise their their standard of living. Zizzi is a very small
restaurant by having very less workers but still popular in local areas of UK for their tasty and
delicious food. This assignment is going to segmented into four different parts for explaining the
importance of small business enterprise with the use of various financial and non financial
comparative measures (Bridge and O'Neill, 2012). In additional it also highlight methods for
overcoming issues and problems faced by organization by identifying several of hidden barriers.
Apart from this, it also throw some lights on tools which are implemented by a referred company
for enhancing the performance of employees as well as employer. Instead of this, report is going
to show an impressive business plan for attaining their set target and objectives in a given time
frame by resolving issues faced by restaurant. At the end, assignment conduct monitoring
programme for analysis the stated administration plan as well as to minimize the barriers which
comes in success path of an enterprise (Schaper and et. al., 2014).
TASK 1
1.1 Produce a profile of a selected small business identifying its strengths and weaknesses
Small-business firms assist to provide several opportunities to society such as
employment. So they will easy to enhance their skills and capabilities as well as learn something
new and innovative things. In addition to this, it helps to improve economy of the country.
Economic status and position of the nation directly impacts on SBEs either positive and negative.
Apart from this, it is important to determine actual and current status of the company. So,
SWOT analysis method can be used for identifying strengths, weaknesses, opportunities and
threats (Storey, 2016). As per this, employers of the enterprise will take appropriate decisions
and effectively resolve problems and issues of the business (SWOT Analysis, 2017). Mainly,
this method includes fur elements such as following:
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Illustration 1: SWOT Analysis, 2017
(Source- SWOT Analysis, 2017)
Strength Weakness
 One of a major strength of zizi
restaurant is their qualitative products.
 Another one is their impressive
promotional plans and strategies.
 Attractive interiors with splendid
themes which seek the attention of
millions of consumers.
 Presence of catchy and knowledgable
employees whose main aim is to satisfy
the needs of clients in a minimum
duration.
 Fast and on time services.
 Healthy communication between
employees and employers create a
mutual understanding between higher
and lower authority. It means it helps
organization for achieving their set
objectives in a given time period.
 One of a major drawback of a zizi
company is inconvenient location
which create problem for whole
organization.
 Lack of skilled and experienced
employees which influence success of a
n enterprise.
 Availability of number of competitors
and their products for example
“Alexander the great” which affect
profit of an organization.
 Due to small business they have
minimum capital which may hamper
their overall task.
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