Small Business Management and Entrepreneurship Analysis
Added on 2020-09-08
17 Pages4686 Words32 Views
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Small Business Enterprise
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Produce a profile for business by analysing its strength and weakness................................11.2 Analysis of business using comparative measure of performance........................................2TASK 2............................................................................................................................................42.1 Appropriate actions through which weakness get overcome................................................42.2 Identification of ways through which existing business performance can be maintained....52.3 Justification for new area where business can be expanded.................................................6TASK 3............................................................................................................................................63.1 Assessment of existing business plans and objectives..........................................................63.2 Revision of business plan for incorporating modifications...................................................73.3 Prepare an action plan to implement the alteration...............................................................8TASK 4..........................................................................................................................................104.1 Impact of proposed changes on business and its personnel................................................104.2 Plan to manage the changes of business.............................................................................114.3 Monitor performance of business improvement during a timescale...................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONSmall businesses are such sort of ventures which are not big in nature and have limitedoperation area. They are not able to deal their products at wide level but have variety range ofproducts and services. These small ventures are able in providing more job opportunities andenhance the economic condition of a country. These little ventures get affected due to change ineconomic situations but support more in any economic crises in a country. Government providesmany benefits to these sorts of ventures by giving them subsidies and rendering more investmentopportunities to them as well. This report is based on Cafe Finix, which is a small coffee shop inLondon, United Kingdom. Management do not have large number of consultant who advisedthem in development of their business. Hence, several major concepts are going to be discussedin this project (Ackermann and Audretsch, 2013). Identification of strength and weakness of thissmall business is essential and use of adequate comparative measure help in dealing with everyissue properly. During changes, several new objectives and targets have to be framed for revisingthe business plan. Along with this, identification of impact on business operation is anothermajor thing for every business concern.TASK 11.1 Produce a profile for business by analysing its strength and weaknessCafe Finix is one of a small size business enterprise who are dealing in various type ofcoffee products along with a facility of lunch. They are contributing more in an economy of acountry through which level of contribution by small business enterprises get rise. More than 100employees are already working in cafe and now they are going to provide employment to 90more skilled persons. Although, competition in small business is high in nature as compared tolarge and big entities. Thus, management have to prepare a report through which they will beable to identify all strengths and weaknesses which are concerned with their business. CEO of acompany personally deal with issues which are being faced by an organisation in their operationsfor ascertain targets. Cafe provide a healthy and friendly environment to all of their customerswith attractive interior and designs as well (Aremu and Adeyemi, 2011).Their wide variety of products work as a major USP with effective pricing strategies aswell. Another major advantage is location because Cafe is situated near sea which attract largenumber of customers. But they have limited funds for arranging all activities properly. Hence,1
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