Small Business Enterprise Management

The given assignment is a collection of research papers and studies related to small business enterprise (SBE) management. It includes a list of references to academic articles and books on the topic, as well as online resources and certifications related to SBE. The summary provides an overview of the contents, highlighting the importance of non-financial information in risk management, gender differences in bank-firm relationships, and critical success factors for implementing business intelligence systems in SMEs.

Small Business Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Business profile of Worthenshaw's ......................................................................................1
1.2 Comparison of business performance...................................................................................3
TASK 2............................................................................................................................................4
2.1 Appropriate actions to overcome from weaknesses..............................................................4
2.2 Ways to strengthen and maintain the existing performance.................................................5
2.3: Expansion of business in new areas ....................................................................................6
TASK 3............................................................................................................................................6
3.1: Assessment on existing business objectives and plans........................................................6
3.2: Reviewing business plans and suggesting ideas where any alteration can be made............7
3.3 Action plan to implement changes........................................................................................8
TASK 4............................................................................................................................................9
4.1 Impact of proposed changes..................................................................................................9
4.2 Planning for managing changes in organization ................................................................10
4.3 Ways to improve performance in organization ..................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
.......................................................................................................................................................14

INTRODUCTION
Small business enterprise are privately owned companies which smaller number of
employees and revenues in comparison to large companies. Corporations, sole proprietorships,
partnerships are considered as small business enterprise. There are many benefits are derived by
small companies from government like, easy taxation policy, financial support, linnet regulations
etc. There are many methods which are used to classify the companies as small business. As per
companies Act of UK the number of employees should be less than 50, turnover must not exceed
the limit of £6.5 million. Other method which used regarding classification includes sales, assets,
net profits etc. Dragon's Den is TV series which helps in funding to the new entrepreneurs to
start their business activities or to promote the business function of small company.
Worthenshaw's is small company which deals in healthy food products (Harris and P. Patten,
2014).
In the present report explain about, Structure and strengths & weaknesses of
Worthenshaw's, Existing business objectives and plans, review of business plans and
recommendations regarding the change in some areas and preparation of action plans regarding
implementation of changes.
TASK 1
1.1 Business profile of Worthenshaw's
Name of company: Worthenshaw's Ltd.
Owner structure: Kristy is the founder of Worthenshaw's Ltd. In 2009. She is the owner of this
organisation which provides their services in UK. This company is supported and financed by
Dragon's den series.
Activities: Worthenshaw's is ethical food company which provides various kinds of healthy food
products for kids and adults. It has large number of variety of products which are very nutritious
and healthy. This company produce allergen free frozen desserts. It is special desert which is free
from dairy, sugar, gluten, cholesterol, artificial preservatives etc. The main aim of company is to
produce the food products for such person which are suffering from serious allergy problems.
The products which are provide by Worthenshaw's are highly suitable and healthy for Diabetics,
Coeliacs etc. The main item of Worthenshaw's Ltd. Is Coconuka honey flavoured dessert, its
contains Echinacea which is helpful in boosting up the immune system.
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The idea of starting such business came to her mind due to his suffering from the disease
of some serious allergy. This motivated her to prepare such nutritious and healthy food products
which are beneficial of the individuals which are suffering from such kind of problems.
In July 2012 Worthenshaw's is rebranded and names as Kristy's which has now main
focuses is top provide ready-made meals to adult which healthy for all the individuals of society.
Business location: This company provides their food products and services in UK. Large
number of national supermarket are open by Worthenshaw's Ltd. To delver their food products to
end customers. It is observed in market that the healthy and nutritious products have 75%
growth. The main aim of company is to maintain the quality of product and provides the food
products within the budget of individuals of country. This contributes the company to earn the
large number of profits. The present revenue which is earned by company through their different
business activities is 5 million pound ( Acs, Audretsch and Lehmann, 2013).
Strengths and Weaknesses: There are many strengths and Weaknesses are possess by
Worthenshaw's Ltd. It is important for company regarding determination of such strengths and
weaknesses in improvement of their existing functions. The main strengths and Weaknesses are
mentioned below:
Strengths
 Provide healthy and nutritious food which beneficial for person which are suffering from
allergies, diabetes etc.
 large number of supermarket chains are working to provide their products to end
customers
 The food products provide by Worthenshaw's are of good quality and in the budget of
individuals
Weaknesses
 Provides their products and services in local market only
 less market share in comparison to other companies
 Lack of variety in food items
 The owner of company is youngest entrepreneur doenot have much experience
1.2 Comparison of business performance
There is huge importance of comparison of the business performance of Worthenshaw's
Ltd. With some other company which operate their functions in same industry. Such comparison
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helps in identification of their position in market and the forces which affects their business
activities (Altman, Sabato and Wilson, 2010). This comparison helps in determination of
problems and preparation of the policies and plans which are followed by employees of company
to achieve their targets. Nature Finest Food Ltd. Is also small company which provides their
services in same industry. The comparison is showed between both these companies is on the
basis of their financial reports, human resource, marketing, sales etc.
Quality Audit: This includes about the comparison of the quality of food products which
are provide by both the companies. Worthenshaw's Ltd. Is an organisation which provides more
emphasis on quality as their main is to provide the food items for such persons which are
suffering from allergies. To meet this criteria the quality of the products of Worthenshaw's is
much better in comparison to Nature Finest Food Ltd. Because its main aim is to provides
variety of food items to capture more market share.
Non- financial measures: Human resource
Year ending 2016 Worthanshaws Ltd. Nature Finest Food Ltd.
Staff turnover 4% 7%
Absentee rates 3% 4%
% of job offers accepted 15% 11%
Customer feedback on quality of product and service
Year ending 2016 Worthenshaw Ltd. Nature Finest Food Ltd.
Is it great in worth 80% said yes and 10% says
adequate and rest are not
answerable
At least 75% says the quality
of the product is good
remaining says fine
On fantastic presentation Yes, expansion is happen with
the rate of 6%
Yes, large number of diversity
of products are provided by
company
Scrutiny with competitors Provide only healthy and
nutritious products
Various kind of food items are
provide
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Marketing
Year ending 2016 Worthenshaw Ltd. Nature Finest Food Ltd.
Social media It is important tool which is
used by the management of
company. This tool has wide
range and cost efficient.
This method is not used by this
organisation.
Print media This method is not used by this
organisation
This tool is used by this
company which is effective in
attraction of the local
customers
TASK 2
2.1 Appropriate actions to overcome from weaknesses
There are many weaknesses are identified above in performance of the different functions
by Worthenshaw's Ltd. There are many adverse effects are born by the management of company
due to such weaknesses. It restricts the growth of company and reduce their capability regarding
achievement of predetermined targets. The major weaknesses which is faced by Worthenshaw's
Ltd is limited market share because provides their products and services in local market only. To
remove such weaknesses, need to implement modern marketing and promotion tools which helps
to make their products popularise (Blackburn, Hart and Wainwright, 2013). Preparation of the
strategies and plans proves as guiding factor for employees which helps in implementation of
such tools in adequate manner. The major suggestions which contributes in removal of
weaknesses are mentioned below:
 Promotion of their existing products: The Worthenshaw's Ltd has face the weakness of
small market share which can be removed with the help of new promotional and
advertisement tools. The tools which are used named as social media, print media,
electrophonic media etc. All these method have wide range of effectiveness and provides
the information regarding their products to general public. All these tools have great
influence power of behaviour of consumers. This provides the opportunity regarding
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expand their business operations in other countries also and attract large number of
customers.
 Diversity in food items: The main aim of Worthenshaw's Ltd. Is to provide healthy and
nutritious allergen free frozen desserts. This is similar to ice cream but much more
beneficial for the persons suffering from serious allergy and diabetes. This reduces the
capability of company to provide diversified items to accomplish their aim. Removal of
such weakness helps in attainment of competitive advantage and improves their sales
figure.
2.2 Ways to strengthen and maintain the existing performance
It is necessary to maintain the performance of company to obtain sustainability in their
different functions. For this purpose, Worthenshaw's needed to focus on their strengths retain the
quality of their products. This will have huge importance as it helps to drive their competitors out
of the market, retain the confidence of customers, accomplishment of their objectives etc. To
become strengthen their performance there is need to adopt such strategies which helps in
satisfaction of the needs of customers. The important ways which contributes in strengthening
their performance are mentioned below:
 Understand taste of customers: Worthenshaw's is required to identification of the tastes
of customers. This helps to change in their existing products and services which satisfy
their criteria and tastes. This helps in creation of long term bond and gain the loyalty of
customers.
 Employee relation: There us huge importance of employee relation in improvement of
communication and coordination among the employees and different departments. This
helps in improving the productivity by optimum utilisation of existing resources. This
helps in reduction of operations cost and improve profitability (Gill and Biger, 2012).
 Build good team: There is large number of importance of creation of good team in
organisation. This helps in creation of positive environment and supportive behaviour of
employees. This will have huge impact on the development of skills and motivation of
the employees regarding achievement of their tasks. This contributes in strengthening the
performance of Worthenshaw's in market.
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2.3: Expansion of business in new areas
In order to achieve huge profit for longer period of time the company need to focus on
expanding their business in new areas where they attain large number of customers towards their
product and services. It is important for the company to first identify the taste and preferences of
customers and accordingly produces products in order to fulfil their needs and requirements.
Worthenshaw company offers healthy and tasty food products which maximises the standard of
living of people. At present company offering their services only in domestic areas through
which they can earn only limited profit as well as attain limited number of customers. Therefore
in order to build image and reputation of company across worldwide the company need to
implement marketing strategies which help to reach their product's quality and their benefits to
large number of customers. To expand business the manager of company should first analyse the
market environment and its competitors strategies with the help of which they can compete with
their competitors in an effective and efficient manner. There are various ways through which
Worthenshaw can expand their business:
Formation of new partnerships: As it is difficult for the company to expand its business
in new market thus it is essentially required for company to join hands with existing business
organisation and form new partnership with them in order to survive in new market for longer
period of time. Through this the company can easily attain a strong position in new market
within limited period of time and achieve success in short time period (Herbane, 2010).
International expansion: In order to expand business of Worthenshaw across worldwide
the manager need to contact with existing and established supermarkets which operates its
business in different countries. Through contacting with them it will become easily for
Worthenshaw to reach their business through the world by using the sources of supermarkets.
TASK 3
3.1: Assessment on existing business objectives and plans
Every organisation has their own goals and objectives which need to be achieved within
pre-determined period of time. Thus managers and members of company contribute their
maximum efforts in achieving such desired goals and objective in an effective and efficient
manner. The top authority of company has responsible to implement an effective and efficient
plans and strategies which direct their members to perform in right direction. The Worthenshaw
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has main objective is to offer quality and healthy food products to their customers which
improves their standard of living. Following are the some objectives of Worthenshaw which
should be achieved within pre-decided time period:
Objectives of company:
 The main goal of company is to enhance the standard of living of customers by providing
quality and healthy food products to them at reasonable prices.
 The other main objective of company is to earn maximum profit so that they can expand
their business in different areas as well.
 The company focus on producing healthy and nutritional food product which protect the
customers from various diseases.
Thus, Worthenshaw is protecting health of customers by providing quality and nutrition food
product. They also required to make some changes in their menu card through which they can
attract large number of customers (Luke and Chu, 2013).
Action plan:
The company need to prepare budget and arrange funds from different sources in order to
implement new techniques and methods which is helpful in producing quality and healthy
products. The manager need to develop innovative and effective ideas which required to convert
into action for future growth and profit of company. The company should also required to make
effective business plan which is depend on SMART objectives which are helpful form company
in defining clear objectives which can be measurable, identifiable and achieve within specific
period of time.
3.2: Reviewing business plans and suggesting ideas where any alteration can be made
The business plan should be formulated in such an effective way that will bring positive
result to company. It is the responsibility of manager of company to identify complex business
environment and accordingly formulate business strategy which directs the members of an
organisation to perform in right direction in order to achieve company's goals and objectives
within given period of time. As Worthenshaw is small business who find difficulties in far-
ranging financial resources in order to achieve their goals thus it should required for them to
market their products across worldwide in order to gain goodwill and reputation of company. To
formulate business plan the company should need to follow following steps:
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Update goals and objectives: The company need to make changes in their objectives
according to the needs and requirements of customers which help them in getting highest
position in competitive market.
Analysing plan: The next step is to evaluate the business plan and determine whether the
plan is providing proper direction to their members to chive company's goals or not.
Rationalisation of resources: The funds arranged from different sources is required to
allocate resources in the important areas where the company get positive outcomes. The manager
of company need to focus on utilising available resources which help them in providing quality
food products at reasonable price.
Follow up: At last, managers and employees should follow all procedures and strategies
to achieve company's goals. The manager can able to evaluate the performance of employees and
help in eliminating deficiencies which are faced by employee at workplace.
The following elements should be proper analysed by Worthenshaw Ltd. In order to
target customers situated in different areas. This will be help employees to provide direction to
utilise available resources at an optimum manner (Malhotra and Temponi, 2010).
3.3 Action plan to implement changes
Everyone wants to be up to date according to the current trends. The changes are needed
to be implemented as per current market trends so that firms can maintain themselves in a
competitive position and they can boost up their profitability as well. To apply something new in
company, it is needed to observe, analyse and evaluating desires of changing regarding
technology, strategies, policies, rules and m,any more factors to improve efficiencies of gaining
more profits or benefits. After identifying the requirements planning should be done in correct
manner to allocate tasks or activities effectively with proper time period. Changes are also
affects negatively when response of manpower is not positive because they don't want to change
their habits as they need little bit of time to accepting and to make themselves habitual of the
particular change An action plan is given below:
Task Duration
Curriculum 3 to 5 days
Re-check activities to be conducted 5 to 6 days
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Surety of providing better quality as well as
reasonable price
3 days
Research or survey of market regarding clients
preference and competitor's strategy
2 to 4 days
Classification of different competitors 2 days
Compression in current era. 5 days
Identify new segments for new buyers 3 days
Mix creative goods and services with cluster of
commercialism.
6 days
Recruit talented and more able employees of
having expertise in hospitality sector.
2 Days
Render specific targets for workers and
customers
1 Days
Build strategy to do smart at place of hard
work
1.5 days
Expansion of firm for making coalition
venture.
3 Days
Offering bonus, equal remuneration and
awards to workers.
Half and hours
The above mentioned activities should follow in proper manner by avoiding to skip any
single aspect to make planning and implementation more effective. Every plan for change will
turn into success while they are applied correctly step by step properly then only a firm can
achieve its missions and visions (Mason and Brown, 2013).
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TASK 4
4.1 Impact of proposed changes
The changes have a major effect on manpower of firm and business because changes
must accepted by employees then only business will run successfully. The changes can be
required by any department of company like technology, strategies, policies, rules, working in
shifts, acquisition, venture and so on.
Impact on Business
 An organisation have to be in trends regarding its qualities and features of product or
service because customers will [prefer only those ones which are according to trends as
they want to be up to date.
 Changes in business will provide challenges also but it is needed to convert those
challenges into opportunities through which they can grab market area and gain more
profit having strong position amongst competitors.
 If an organisation implements the change then it will make workers more comfortable to
share their better ideas with their supervisors through creativity as well as innovations.
 If a firm will become successful to make a very good product having good quality at
reasonable price then they have to make a better strategy to sell it in market because
having an unique style of promotions will results into much more profits or benefits as
expected.
Impact on Personnel
 The implementation of changes renders an opportunity to learn something new for
employees or workers which can improve their skills and abilities so that they can
perform well. For example, if new technology is applied then people have to learn about
it to use then only they can achieve profits and benefits as per assumptions.
 Sometimes, changes in firm will make a peaceful and stress free environment which
makes the employees more energetic as well as motivated, reflects positively in their
performance (Mitchelmore and Rowley, 2013).
4.2 Planning for managing changes in organization
Changes are very crucial in every organization. Firm has to make suitable,appropriate plans and
procedures for managing and adopting these alterations in every business. It helps the company
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to improve in the activities, tasks and for increasing the employee efficiency to work better. For
this organization follows Kotter's approach to make plans. This method means to achieving goals
and objectives in minimum time. It includes eight steps which are mentioned below- Create urgency - Organization tries to create the environment so that there is need of
changes. Management tries to explain workers the statistical figures of revenues,
competition level and position of company. It is important so that workers do not resist
new policies and methods. Powerful coalition – In this step organization convince employees that changes are
crucial in the firm. A group of leaders who are influential and expertise in all areas has to
be formed by the company who can bring new and innovative plans in the firm for
improving the performance. It helps the business to grow in the market. Creates vision – Managers can make vision,objectives and goals for organization. They
discuss the benefits of these targets with employees so that they can make appropriate
strategies to implement them. So in this way organization can run successfully. Communicate the vision - Organization communicates the vision and goals with the
employees. This is crucial so that workers can perform the tasks and activities to
accomplish their targets. Remove the obstacles – It helps in removing the problems in implementing the vision and
objectives. Workers can do their work efficiently and effectively. Through it organization
can perform their activities successfully and results in growth in market. Create short term win – Organization tries to make short term goals and achieve them.
This motivates employees to perform better and hence results in growth of company. Build on change – After every change organization tries to evaluate strong and weak
points. It has to make policies and plans to improve those deviations in achieving of next
target (Olson and Staley,2012).
 Anchor changes – Lastly organization tries to implement these changes in their business.
Firm has to make new policies and motivate employees so that they can adopt to these
changes. This help company in achieving their goals and thus enhances the performance.
4.3 Ways to improve performance in organization
Various methods, plans and policies are adopted by the organization to improve the performance
in market. They are crucial as they helps in improving the functioning of various functions and
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activities in the firm. Employees can also work efficiently and effectively. Thus it leads to
improving the performance and growth of company. It can also maintain competitive edge on
others. Different ways are - Set goals - Organization has to make relevant, attainable and measurable goals. It helps
the employees in getting knowledge of the methods and in making strategies to
implement their targets. So hence they can work with their full efficiency. Thus activities
and functions run successfully which increases productivity in the company. High impact marketing - Organization can use various methods and create marketing
campaigns for promoting the company with minimum use of resources. So it reduces
wastage and can give good results. Company can earn more profits and it leads to growth
of firm. It also helps the firm to give strong competition to other firms,. Evaluate changes – Organization has to continuously assess the environmental trends
such as political,social,technological etc. Firm has to adopt these changes to improve the
performance and to maintain unique position in the market. It results in increasing the
market share and profits (Rae, 2010).
 Motivate Employees – Organization can motivate employees to perform better. It helps in
increasing the energy and enthusiasm level of workers. So Staff members can work
efficiently and effectively which increases the productivity. Thus it results in improving
the performance of firm. This leads in maintaining an unique position of company in
market and gives strong competition to other firms.
CONCLUSION
It has been concluded from the above project report that it is important for Kristy to adopt
new plans and strategies in order to expand their business across worldwide. The manager should
required to identify company's strengths and weaknesses and accordingly implement corrective
actions to eliminate their weaknesses and improve their strengths. Formulating effective business
plan helps company to survive in competitive market world for longer period of time.
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REFERENCES
Books and Journals
Harris, M. and P. Patten, K., 2014. Mobile device security considerations for small-and medium-
sized enterprise business mobility. Information Management & Computer Security.
22(1). pp.97-114.
Acs, Z.J., Audretsch, D.B. and Lehmann, E.E., 2013. The knowledge spillover theory of
entrepreneurship. Small Business Economics. 41(4). pp.757-774.
Altman, E.I., Sabato, G. and Wilson, N., 2010. The value of non-financial information in small
and medium-sized enterprise risk management. The Journal of Credit Risk. 6(2). p.95.
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.
Gill, A. and Biger, N., 2012. Barriers to small business growth in Canada. Journal of Small
Business and Enterprise Development. 19(4). pp.656-668.
Herbane, B., 2010. Small business research: Time for a crisis-based view. International Small
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Luke, B. and Chu, V., 2013. Social enterprise versus social entrepreneurship: An examination of
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Malhotra, R. and Temponi, C., 2010. Critical decisions for ERP integration: Small business
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Bellucci, A., Borisov, A. and Zazzaro, A., 2010. Does gender matter in bank–firm relationships?
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Online
Small Business Enterprise. 2017. [Online]. Available
through:<https://certifications.thomasnet.com/certifications/glossary/
ownership_diversity/ownership_diversity/small-business-enterprise-sbe/>./
Small Business Enterprise, 2017 [Online]. Available
through:<https://www.dotsbe.pa.gov/SBEWeb/sbe/viewHome.do>./
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