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SWOT Analysis of Small Business Enterprise

   

Added on  2020-07-23

29 Pages7650 Words190 Views
Small Business Enterprise

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1A) Profile of the business.......................................................................................................1SWOT Analysis......................................................................................................................3B) Comparison of the performances of both companies........................................................4TASK 2............................................................................................................................................6A) Recommendations to overcome weaknesses of Bestway Holding Ltd.............................6B) Suggest various ways to maintain effective performance.................................................8C) Justification to expand business areas ..............................................................................9TASK 3..........................................................................................................................................10A) Assessment on existing plans and objectives..................................................................10B) Review of business plans and suggesting changes..........................................................11C) Producing action plan......................................................................................................12TASK 4..........................................................................................................................................14A) Impact on business personnel..........................................................................................14B) Producing plan for managing business............................................................................15C) Improvements in the performance...................................................................................16CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................18APPENDIX 1 ................................................................................................................................22APPENDIX 2.................................................................................................................................22

INTRODUCTIONFormulating effective plans and decision-making is required so that business can achievegoals with much ease. The enclosed report deals with Bestway Holdings Ltd which is marketleader in small business enterprise sector having diversified businesses each of them performinggood in the local as well as global market. Financial ratios are being calculated by comparingwith W H Smith Retail Ltd so that financial health can be compared. Moreover, various modelsof change such as Kotter's model and Kurt Lewin model of change have been discussed in thisreport. Resistance of employees should be reduced up to high extent so that performance can beenhanced and as such, company can relate with current market trends to achieve goals quiteeffectively.SWOT analysis is being conducted and also how it can be overcome by company is alsobeing discussed. Assessment of existing business plan and review of it is also given in thisreport. Various ways to improve performance of organisation is also listed in the report.Furthermore, various performance measures which are useful for highlighting performance ofworkers have been discussed as well. Action plan is also being prepared to strengthenperformance of company and accomplish desired goals with much ease. TASK 1A) Profile of the businessCorporate informationAddress:2 Abbey RoadPark Royal London, NW10 7BWUnited KingdomPhone: 44-20-8453-1234Fax: 44-20-8961-9697URL: www.bestway.co.uk1

Annual sales:£3.4 billionTotal employees: 33,600Primary Line of Business: Conglomerate companyManagement DirectorySir Anwar Pervez, OBE Chairman and Managing DirectorAK BhattiAK ChaudharyMY Sheikh, SecretaryZM Choudrey, BA (Hons), ACA, CEO (Cheif Executive Officer)AM Chaudhary, MBAR Pervez, BBA, ACA, DirectorBusiness Profile:Bestway Holdings company operates as a holding company with headquarters in London, UK.It was founded by Sir Anwar Pervez in the year 1976 and is a private company. The companieshave broad portfolio engaged in wholesale, cement, banking and pharmacy as well. Thecompany was nominated for Business of the year in 2013 at British Muslim Awards. It providesdrinks, juices, snacks, biscuits and tobacco. It has well-diversified business in UK and Pakistanas well.Location:The registered location of business is in UK as it is business friendly city with largeopportunities to provide goods to customers and earn profits.Mission:The mission of the business is to be Best way to Grow your Drinks and Food business. To offerquality products at competitive price and providing customer satisfactionObjectives:2

To meet customer demands and needsTo provide excellent products and services To monitor product range to strictly adhere to customer requirementsSWOT AnalysisStrengthsThe main strength of Bestway Holding company is that it has skilled and efficientworkforce which makes it successful in the business operations. Skilled workforce is required so that it may be able to achieve goals and objectives ineffectual manner. Apart from it, another strength is that it has competitive advantage which makes mucheffective than rivals. Also, it has implemented well-structured strategies which providesenough strength to move ahead of competitors in the best possible way.Moreover, it operates warehouses investment properties and also in new and existingcommercial properties. It has diversified businesses which makes it highly effective as itemployees diversified workforce. Thus, these strengths makes it much successful thanothers (Schaper, Volery, Weber and Gibson, 2014). It has wide reach to customers as it has headquarters in Pakistan and UK as well. Thus, ithas more customer base.WeaknessesApart from such strengths, it has several weaknesses as well. Among the major is brandportfolio. It is required that company should be able to strengthen brand portfolio so thatit may be able to handle diversified businesses with much ease. But, it is unable tomanage brand portfolio in effective way. It should make well-structured strategies and aligned policies so that it may be able tocope up with different businesses under one roof quite easily. Complete separation ofbusinesses is overcome with the help of brand portfolio as such, this weakness must beavoided.3

Moreover, it has to strengthen market size in effective way. This is important so that itmay be able to handle future operations in the most productive way. This will help tostrengthen brand name quite effectively.It lacks in diversification as brand portfolio is not effective. OpportunitiesBestway Holding organisation has immense number of opportunities as well. It hasgrowing demand of products in the market. This makes it highly effective as it isimparting quality items to customers which has resulted into increased satisfaction amongthem. Thus, it has future opportunities to beat competitors (Storey, 2016). Wide range of new products and services are being offered by it which is a bigopportunity for the organisation to become market leader in all the different businesseswhich are handled by it. Another opportunity is that it has global reach in various markets which is much usefulfor it to even garner more markets so that it may satisfy more customers and can earnmore profits in the long run with much ease. This will provide strength to overcomecompetition in effectual way.Gaining global reach to expand business operations in the international marketThreatsThe main threat which can harm brand image of company is that more competition. Thisis the biggest threat to it as competitors are implementing strict strategies which isincreasing overall competition. The bad outcome is that organisation has to cut downcosts which is reducing profit and as such, profitability position is overall lowered. Technology plays important role in the production and other purpose so that companycan effectively work out things (Cunningham, Sinclair and Schulte, 2014). But, BestwayHolding organisation is not able to strengthen technological capacity which is makingadverse effect on the production and overall reducing it. Facing competition from other companies such as W H Smith Retail Ltd and Nakedwines Ltd.B) Comparison of the performances of both companiesIn appendix4

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