Report on Performance of Small Business Enterprise : Purbeck Ice Cream Company
Added on 2020-06-06
17 Pages5346 Words179 Views
FinanceProfessional Development
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Small Business Enterprise
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Producing a profile of Purbeck Ice cream and its strengths and weakness:..........................11.2 Analysis of the business using comparative measures of performance:...............................2TASK 2............................................................................................................................................52.1 Recommendations and appropriate actions to overcome weaknesses:.................................52.2 Ways by which current performance can be maintained and strengthened:.........................62.3 New area's in which company can expand:...........................................................................7TASK 3 ...........................................................................................................................................83.1 Give your assessment on existing business objectives and plans.........................................83.2 Review business plans and suggest areas where changes can be made................................93.3 Prepare an action plan to implement the changes...............................................................10TASK 4..........................................................................................................................................114.1 Impact of proposed changes on business and its personnel................................................114.2 Management of proposed changes in business...................................................................124.3 Measurement of improvements in the business over past two years..................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONSmall-medium business enterprises are the one who are very important for growth ofworld economy. It adds more people to financial system and raises their standard of living. Thereason which makes it even more important is that it provides stability to economic condition ofcountry. In United Kingdom, SME's play a role of a pillar to the country economy. In 2008, itoccupied up-to 85% of all market activities in UK. It is a reason which kept the country economystabilised when recession struck. They were fuelling growth rate of nation even when wholeEurope was suffering (Ackermann and Audretsch, 2013). The laws regarding small businessenterprises is stated in Companies Act 2006, in its section 382 and 465. It describes smallcompany as a one that have turnover of up-to 6.5 million pound and have less than 50employee's. This report states about how performance of small business can be enhanced andwhat additional measures can be taken for improving their capabilities. The company chosen forthis project is Purbeck ice cream company. It is a growing organisation which started from thefarms of Kingston, Wareham. In this report all the concerning issues will be analysed andmeasured which can impact and hamper organisation performance.TASK 11.1 Producing a profile of Purbeck Ice cream and its strengths and weakness:Purbeck ice cream company is a small business enterprise which was incorporated on 8June 2005 it is a private limited company which means it can not offer its shares to the public. Itwas a result of diversification which took place 29 years ago in the dairy farming business. Thecompany is owned by Jaqueline Hazel and Peter Clifford. Business concept is completely basedon the opportunity which came into being with creation of milk quota (Altman, Sabato. andWilson, 2010). Today, company is able attract large number of customer towards its productsand services. The main idea behind ice creams and other goods is to serve customers fresh,natural, different flavoured items. They are providing a healthy alternative to people. It is a wellrecognised award wining Dorset ice cream provider. Purbeck sell their products via different stores which apply for sales of their goods atdifferent places. These ice creams and other dairy items have registered a 60% of growth rate insales. The decision behind making business pivot has paid off and products are now available inretail stores. The company is valued at 2 million pound at present. They have a dedicated social1
media department which is handled by Jacqueline as to analyse trends and solve customersqueries. Company is totally focused on providing deserts and other dairy products. Though theyare in contact with major restaurants who are willing to serve their specialised items such asChilli Red. The company is a family business and it is completely owned by the hartel family. Thereare no plans of selling company in future or offer stocks for investment (Bellucci, Borisov andZazzaro, 2010). They have a net book value of 1,398,836 which rose by 20 % than the previousyear. They have evolved from being a small micro business to a small business enterprise. Thereare few strengths and weakness of business as identified:Strengths of company are:Completely unique product rangeHealthy and variety of flavoursAttractive and known in the nearby countiesWeakness of company are:Less market shareExisting competitors offers more varietyLower level of consumer interactionsless market exposure to company and people1.2 Analysis of the business using comparative measures of performance:Purbeck is facing stiff competition in the market of deserts and dairy products. But due tocompany's differentiation policies and efforts they are able to create a separate market forthemselves. There are some competitors who are neither too big nor too small in size andrevenue that can be considered as a threat (Bridge and O'Neill, 2012). There are some companieswho are its competitors such as Sussex ice cream limited and Bears ice cream company limited.There are less competitors as it needs huge investment to open and maintain a dairy, and run aice cream business. The company has to keep on analysing performance of team working in business and costof operation as to maintain efficiency. The financial reports, profits, returns on investment,market share, customer satisfaction level, employee motivation, quality of services andorganisational flexibility for adaptation of changes are some of major ways by which its2
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