Business Models and Small-Scale Enterprises
Added on 2020-10-04
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Small Business Enterprise
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................11.1 Small business enterprises with its strength and weaknesses ..............................................11.2 Business analysis with the help of using comparative measures. ........................................3TASK 2............................................................................................................................................52.1 Appropriate actions in order to overcome weaknesses ........................................................52.2 Ways to analyse existing performance .................................................................................62.3 Recommending new areas to expand for Cafe Finix............................................................6TASK 3 ...........................................................................................................................................73.1 Assessment of existing business objectives and plans..........................................................73.2 Revise business plans to incorporate changes.......................................................................83.3 Preparation of Action Plan....................................................................................................9TASK 4..........................................................................................................................................104.1 Impact of proposed changes on business and its personnel................................................104.2 Managing changes in business............................................................................................114.3 Monitoring improvements in performance of business......................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness enterprises are the essential key to economy of any country or society, smallbusiness enterprises are a kind of organisation that employs a less number of employees orworkers and they are not having a high volume of sales and revenue. Small business enterprisescan be described as the organisations who have less capital invested and very least number ofemployees who are helpful in providing support to improving strength and opportunities inundeveloped areas. These type of business segments plays an essential role in creating more jobopportunities and create more wealth for communities and societies, so that they can easily maketheir living more appropriate and suitable (Thornton, Ribeiro-Soriano and Urbano, 2011). In thispresent report, an effective example of Cafe Finix has to be taken in respect to betterunderstanding of small business enterprises. Cafe Finix is a small coffee shop which establishesits business activities in UK and it deals in high quality coffee products. In this project, a validand appropriate result has to be made through evaluating the strength and weaknesses of smallbusiness enterprise. This report contains the study about comparative measures of performance,various ways are also discussed through which an organisation can improve their existingperformance. Further an organisation has to work on revise their management plan on regularbasis, so that it is easy for firm to deal with required changes that are occurs at work place. TASK 1 1.1 Small business enterprises with its strength and weaknesses Small business enterprises are the essential component of any geographical area orregion, they are having very limited area for conducting their business activities, as they areemploys very small number of workers and employees in their firm. Cafe Finix is a local annsmall business enterprise in the country of United Kingdom, that provide variety of goods andservices to their buyers who are willing to taking advantage of their offered services andproducts. They are mainly focused on providing high quality coffee and various other ancillaryservices to customers. The basic purpose of company is to satisfying the needs and wants ofcustomers through providing high quality services in affordable prices (Storey, 2016). Thecompany is mainly focused on pricing strategy and quality measures so that it is easy forcompany to attract large number of customer towards their offered services. The cited firm ispopular among public just because their high-quality products in reasonable prices.1
The owner of Cafe Finix has started his business activities with very limited funds andresources. They offer breakfast, tea, coffee and various other fast food items. The particularcompany is famous for its variety of coffee products and this cafe is mostly suited for family andfriends. SWOT AnalysisSWOT analysis is the most effective term in business which helps in formulating variousways through measuring the capacity of business. It is most effective method, which is used bycompany to evaluating their strength, weaknesses, opportunities and threats. These are someessential components which are helpful in establishing improvements in firm or its activities. Strength:It can be described as the power of firm, it helps in states various opportunities that areavailable in business. The major strength of firm is their high-quality products which are offeredin very less price, and basic aim of firm is to fulfil the demand and needs of customers. Thisprovide significant support in order to reaching at competitive advantage at market place. Somemajor strength of Cafe Finix are describes as under: 1.The company is mainly focused on producing high quality goods and services for theircustomers. 2.High brand image at market place.3.They are more flexible in nature, so that changes can easily adopted by firm. Weaknesses:These are the limitations for firm, it may affect business or its activities in negativemanner. Weaknesses are having bad impact on organisational growth and success. Someweaknesses are described as under: Late delivery of goods and services.Lack of perfect assistance.High range of competition are available at market place.High product prices. Opportunities:This can be measured as the advantages for firm, it help in rendering competitiveadvantage at market place, so that company can easily create their high brand image. Somemajor opportunities are described as under: 2
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