An Analysis of Small Business and Entrepreneurship

The provided assignment is a research review on small business and entrepreneurship, covering various topics such as financial management, sustainable entrepreneurship, and online learning. The review includes a list of references from books and journals, providing evidence-based information on the subject. The document aims to provide students with a comprehensive understanding of the latest research in small business and entrepreneurship.

SMALL BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
A. Profile of the selected business enterprise..............................................................................1
B. Compare the performance of Swing petrol UK and other small sector enterprise.................2
TASK 2............................................................................................................................................3
A. Recommendation and justification to overcome the weaknesses..........................................3
B. Ways to maintained and strengthened the existing performance ..........................................5
C. New areas for expanding the business....................................................................................5
TASK 3............................................................................................................................................6
A. Assessment for existing business objectives and plans..........................................................6
B. Review the business plan to suggest the new areas for changes............................................6
C. Action plan for implementation of changes...........................................................................7
TASK 4............................................................................................................................................8
4.1 Impact of proposed changes that impact on business and their employees..........................8
4.2 Plan to make changes that are managed in business ............................................................8
4.3 Improvement in performances over the past two years........................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Small business enterprise play very crucial role in success of the country and
development of the revenue and operations. With this regard, employment opportunities will be
expand in the nation that enhance profitability and effective results at workplace (Henry,
Rushton and Baillie, 2016). In this context, present report based on the Swing Petrol UK that is
privately owned and perform functions for Dragon Den shows. Further, the company also
promoting their outcomes through producing events, corporate functions, etc. For gaining insight
knowledge of the company, it covers strength and weaknesses of the business to expand the
business through making certain promotion. It assists to evaluate financial performance of the
company that are required for competing different business in all over the world. At last,
recommendation also providing that assists to meet with business goals and objectives.
TASK 1
A. Profile of the selected business enterprise
Business name: In this aspect, selected organisation is Swing petrol UK that owned
operations and functions as private sector.
Owner structure: Mainly in Swing petrol UK, investors assists to promote shows of
Dragon Den which create several kinds of monetary benefits. In addition to this, functions are
also promoting through providing fund and assists to operate smooth functioning at workplace
(Glaub, Frese and Hoppe, 2014).
Background/history: Swing petrol UK developed there operations and functions from
16th May 2006. It registered to operate activities through promote business by ideas and opinion
which enhance shows of business performances (Thomä and Bizer, 2013). This enterprise
provides different kinds of products and services as the qualitative results which make long term
objectives and operations.
Location of the company: Swing petrol UK located at Hope Cottage Ox which is the
one of biggest and crowding areas of the country.
Strength: The chosen organisation specialise for different kinds of products and services
that assists to meet with goals and objectives in systematic way (Acs, Audretsch and Lehmann,
2013). With the help of article, they are making plan which assists to promote effective results in
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the business unit. Therefore, it is the best way to attract several people in the business unit.
Further, the company also determines effective services in order to make material, wood, etc.
Weaknesses: Beside this, the chosen organisation has not effective access to enhance
their operations and functions that create productivity at workplace (Schaper, 2016). Due to lack
of capital, they are unable to expand their operations in new areas.
Mission: Swing petrol UK has mission to target large base of customers. It will be done
through offers different kinds of products and services in the market. At the best value of
products, they want to meet with customer demand (Duberley and Carrigan, 2013).
Vision: The company has vision to determines successful brand in all over the world
through establishment of new products and services in online stores as well.
People: In the business unit, there are different kinds of resources developed that assists
to accomplish goals and objectives (Boyer and Blazy, 2014). Jonathan Charles and Katharine
Sarah providing different functions that are taking important part to monitor business practices.
B. Compare the performance of Swing petrol UK and other small sector enterprise
In respect to develop effective functions and operations, there are different kinds of
products and services will be develop in the market that assists to promote its operations and
functions. High investment amount also needed at workplace through Swing Petrol UK create
competition in the market (Smith and Barrett, 2016). From the year of 2009, this company
providing different programs such as entertainment, events on Den. The company recently
organise Scott Cupit on the BBC Dragon Den. In the market, Charles Cantrill Ltd. also provides
different services and products which create several competitions in it. With the help of
measurement and performances, profitability will be increasing as comparison which develops as
follows:
Swing patrol Charles Cantrill Ltd.
Turnover Changes Increasing
and
decreasing
in
percentage
Changes Increasing
and
decreasing
in
percentage
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2011 2450 - 2300 - -
2012 2700 250 11.11% 2540 240 11.43%
2013 3060 360 14.40% 2680 140 5.98%
2014 3500 440 15.38% 2650 970 39.11%
In the following comparison, it has been stated that Swing Petrol UK enhances their
operations and functions in international market in effective terms. Therefore, their revenue and
profitability will be increasing continuously that make high profits and revenue (Wynarczyk,
Piperopoulos and McAdam, 2013). As compare to their performances, Charles Cantrill also need
to perform functions to enhance market in different areas of the world. Hence, company need to
focus on the areas where they can easily expand operations and functions. In this context,
following comparison can be seen in term of gross profit:
From the above analysis, it can be seen that both organisation operating effective
functions and operations to develop their market. In this context, positive advantages will be
increasing to operate several functions in the business environment (Mazzarol, 2014). Although,
Swing Petrol UK unable to expand their operations effectively as per the comparison of Charles
Cantrill.
TASK 2
A. Recommendation and justification to overcome the weaknesses
Within the Swing Petrol UK, there are many functions promoted as the development of
business operations. With this regard, smooth functioning at workplace also create several
opportunities through different strategies (Glover and Kusterer, 2016). In this way, TOWS
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strategies adopted by the company to enhance their operations and functions in the following
context:
Strength (S) Weaknesses (W)
Opportunities (O) SO strategies
Swing Petrol UK has many
effective functions and
operations that assists to
promote their results for
development of the business
objectives. With this regard,
quality of the products and
services need to be expand to
ascertain effective operations
at workplace (Atkinson and
Storey, 2016). It assists to
accomplish business targets to
achieve goals in systematic
way. Furthermore, company
also getting competitive
advantages that helps to make
productivity at workplace.
WO strategies
The company has
opportunities to expand their
business operations in different
areas of the world through
making certain changes which
create economic advantages.
Threat (T) ST strategies
In this type of strategy, Swing
Petrol UK has opportunities to
expand their operations to
make reputation of the
organisation. Further, through
enhancing audience and
managerial skills positive
results will be ascertain. Threat
WT strategies
The organisation has also
advantages to create different
strategies that assists to reduce
cost and policy of pricing.
Hence, easily expansions can
be made that create several
operations and reduce
weaknesses at business unit
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also reduced that make
positive functions at workplace
(Atkinson and Storey, 2016).
(Obeng, Robson and Haugh,
2014).
B. Ways to maintained and strengthened the existing performance
In present time, the chosen organisation also need to develop their operations and
functions for many corporate events and enhancement in dance shows. With this regard, entity
also determines several kinds of services such as workout, swing dance and gym for their
workers (Neubauer and Lank, 2016). In this context, the company has different ways through
performances will be improves that are as follows:
Online availability: Swing Petrol UK offers several kinds of services with the help of
online medium. In this context, firm will easily offer services for the business development. The
company mainly sold more than 5000 copies to enhance their business operations. Therefore,
their online network also creating as the wast market through mobile application (Williams and
Martinez, 2014). Further, in respect to maintain the business performances, the company has
responsibilities to enhance online sales for conducting more classes at workplace.
Huge network: Swing Petrol UK also determines huge network which assists to promote
effective functioning at workplace. With this regard, the company need to focus on the customers
and various packages that assists to create effective plan for unique corporate events. In addition
to this, the business also developing their operations to determines collaboration with different
people (Henry, Rushton and Baillie, 2016).
C. New areas for expanding the business
Swing Petrol UK provides different kinds of services in UK market. With this regard,
geographical areas is limited in the UK market that assist to promote effective functioning
through trying to develop market in all over the world. In respect to expansion of business, the
company continuously hiring new people who are skilled in dance. As results, based on the
cupid's swing love, there are different kinds of milestone also occurs at workplace. Further,
geographical area is also limited that required to enhance and offers dance classes to attract
several people (Acs, Audretsch and Lehmann, 2013).
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In the new areas of the business, organisation develop their operations in Europe and
Asian nations. In these nations, many corporate events will be conducted in few entities that are
offers dance classes. In order to expand the business operations, these geographical areas
develops as the suitable which assists to maximise services with profit as well. For development
of the enlarging the services, Swing Petrol UK need to adopt the new dance style (Thomä and
Bizer, 2013). In the present business unit limited numbers of dance style included such as solo
Charleston, Lindy hop, etc. with the help of adding more services, the company will easily
expand their business.
TASK 3
A. Assessment for existing business objectives and plans
Main business objectives of the Swing Petrol UK is offers several kinds of dance to their
customers with quality as well. In this aspect, entity also collaborate their services in
international firms which determines as the oasis and keds. Because of the availability of
maximum number of dance teachers, the chosen firm can expand their operations for more than
1200 dancers. In addition to this, they are also conducting classes for expansion of business
activities in different areas of the world. In this way, online sales is the best way for advance
technology and launching the new products as well (Wynarczyk, Piperopoulos and McAdam,
2013).
In the present business, there are many issues faces that impact negatively on its
operations and outcomes. For example, high competition because several other businesses also
offers same service and products in the market which assists to promote effective results in it.
With the help of collaboration, the company can also offer similar kinds of products and services
that are same in nature and assists to develop the effective results (Obeng, Robson and Haugh,
2014). With the help of research and development program, several dance activities also develop
at workplace that assists to promote effective functions in business. Well trained teachers also
assists to teach about different dance forms to customers.
B. Review the business plan to suggest the new areas for changes
Business plan of the Swing Petrol UK also develop their activities through using e-
commerce medium. Technology advancement also develop entity that enhance market share in
effective aspect. E-commerce is the crucial factor that assists to established venture for more
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customer satisfaction. Another business plan also creating different techniques towards the dance
of customers (Duberley and Carrigan, 2013).
Online venture: Swing Petrol UK offers different kinds of products and services through
performing activities in online method. It is the best way that create web page for ascertain more
effective results at workplace. In today's time technology also changing frequently that can be
affect to entertainment industry. Many other opportunities also using trained to make better
teacher towards the different techniques and outcomes (Glover and Kusterer, 2016). This is
because, customer demanding for new technology which assists to promote effective results in
the business.
Recruitment of better trained employees: In respect to offers different services to
customers. Swing Petrol UK has advantages to collaborate international entities for enhancing
market share in different region (Atkinson and Storey, 2016). Own mobile application also
assists to identify customers through promoting business activities. Better trained workers create
development of more services at workplace.
C. Action plan for implementation of changes
In respect to incorporate several changes, the chosen organisation need to make action
plan that assists to promote business operations through developing future strategies. In the
action plan, changes can be implemented for ascertain goals and objectives in systematic way
(Atkinson and Storey, 2016). In this context, Swing Petrol UK need to make plan through
expanding the services as online venture so that more trained people will be hire in the business.
The organisation also develops certain changes which require accomplish effective action plan in
the business. In this action plan, they have to focus on the online presence to teach about the
different form of dance. With this platform, cardio exercise and many other activities promoted
easily. In order to accomplish these objectives, advance technology needed for the online
business promotion (Henry, Rushton and Baillie, 2016).
In addition to this, mobile application also launched that assists to assess the more
customers at workplace to enhance business operations in business. In the other areas of Swing
Petrol UK need to implement their plan in effective manner. In this aspect, services required to
deliver in effective aspect that assists to meet with goals and objectives of the organisation.
Hence, the organisation will easily maintain their functions and operations through providing
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different kinds of services for their customers and maintain their satisfaction level at workplace
as well (Acs, Audretsch and Lehmann, 2013).
Activity Time frame
Online venture 2 ½ years
Hiring new employees 1 ½ years
TASK 4
4.1 Impact of proposed changes that impact on business and their employees
In this aspect, Swing Petrol UK need to make certain changes through proposed business
plan in order to expand business operations. In the geographical area of UK, technology use very
fast. Therefore, current system of the organisation also develops as the starting process which
develop effective results at workplace (Atkinson and Storey, 2016). It assists to imply
management activities that are needed to address the demand and requirement of each person in
business. In respect to accomplish the business objectives and goals, amount required that
promote to the business operations in business environment. Developing strategic planning
assists to the organisation for development of their objectives and goals in systematic way.
Therefore, it is the best opportunities that make successful results. Thus, it will impact directly
on the financial position of direct operations and functions. It also assists to make better
advantages that make uncertainties and risk of the organisation (Thomä and Bizer, 2013).
In addition to this, development of the online promotion also assists to create effective
results in the online venture. Hence, new people will be recruited at workplace. Therefore,
technical knowledge also developed in the respective field. Therefore, more optional costs in the
business will be developed. Beside this, hiring new people at workplace also assists to make
positive impact at workplace (Duberley and Carrigan, 2013). It assists to improve performance
of the organisation and increase their brand image. Involvement of the new employees also
assists to Swing Petrol UK. Hence, the organisation has benefits to offers different types of
services and gaining more trust.
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4.2 Plan to make changes that are managed in business
In the business environment, there are different kinds of changes required to implemented
business objectives in systematic way. With this regard, Swing Petrol UK need to implement
several changes that are accepted for current target market. Hence, it required to undertake
different tasks. Management also needed to conduct the market research through understand
needs of each person (Glover and Kusterer, 2016).
After conducting of the market research, research need to be conducted with adopting
appropriate strategy that assists to accomplish their targets and goals. When decisions made for
the research, target market will be expanded with specific plan that describes in the crucial
manner. There are several sources also need to be implemented that assists to make several
arrangements that are made in business. In addition to this, entity required to inform their
workers about plan to carry operations for targeting them in a business (Obeng, Robson and
Haugh, 2014).
Similarly, Swing Petrol UK also determines to decide that technological advancement
also required for all people that are develop operations to make certain changes in technology.
With the help of training, changes will be introduced at workplace. Technological advancement
also promote to customers to create several benefits for making certain changes in it
(Wynarczyk, Piperopoulos and McAdam, 2013).
4.3 Improvement in performances over the past two years
Swing Petrol UK is the largest corporate entertainment enterprise in the world. They are
developing several changes that are developed to create online ventures. As per the basis of
cupit's songs, entity also required reach towards milestones from the last years. Recording for the
largest Charleston also needed that are making creative results in the business environment. With
this regard, achievement also developed to show effective results for development of the
objectives and goals. Another achievement also needed to make collaboration so that firm also
able to manage their activities at international level (Henry, Rushton and Baillie, 2016).
Business also develop their operations and functions to adopt advance technology that
assists to meet with quality of services. In the online venture, entity develop outcomes in
efficient way to meet with needs of customers according to the requirement. Further, it has been
assured that needs and requirement of customers visits on site. Company required well trained
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employees that are taking participation to achieve business objectives. Therefore, past two years
performances will be accomplish for long term results (Acs, Audretsch and Lehmann, 2013).
CONCLUSION
From the above report, it can be concluded that there are several functions and operations
performed by Swing Petrol UK to take effective p-art in Dragon Den. In this aspect, they are
developing operations and functions which assists to promote effective functions in the market.
Well trained employees also taking important part in this aspect which assists to make creative
results through operating several functions in the market. The organisation has several activities
through they are promoting to objectives and goals in systematic aspect. As results, they are able
to attract more people in business. Furthermore, many issues face by business to provide several
services as online platform. Hence, virtual presences also develop as the strong operations and
functions.
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REFERENCES
Books and Journals
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.
Atkinson, J. and Storey, D.J. eds., 2016. Employment, the small firm and the labour market.
Routledge.
Boyer, T. and Blazy, R., 2014. Born to be alive? The survival of innovative and non-innovative
French micro-start-ups. Small Business Economics. 42(4). pp.669-683.
Duberley, J. and Carrigan, M., 2013. The career identities of ‘mumpreneurs’: Women’s
experiences of combining enterprise and motherhood. International Small Business
Journal. 31(6). pp.629-651.
Glaub, M.E., Frese, M. and Hoppe, M., 2014. Increasing Personal Initiative in Small Business
Managers or Owners Leads to Entrepreneurial Success: A Theory-Based Controlled
Randomized Field Intervention for Evidence-BasedManagement. Academy of
Management Learning & Education. 13(3). pp.354-379.
Glover, D. and Kusterer, K., 2016. Small farmers, big business: contract farming and rural
development. Springer.
Henry, C., Rushton, J. and Baillie, S., 2016. Exploring the sustainability of small rural veterinary
enterprise. Journal of Small Business and Enterprise Development. 23(1). pp.259-273.
Mazzarol, T., 2014. Research review: A review of the latest research in the field of small
business and entrepreneurship: Financial management in SMEs. Small Enterprise
Research. 21(1). pp.2-13.
Neubauer, F. and Lank, A.G., 2016. The family business: Its governance for sustainability.
Springer.
Obeng, B.A., Robson, P. and Haugh, H., 2014. Strategic entrepreneurship and small firm growth
in Ghana. International Small Business Journal. 32(5). pp.501-524.
Schaper, M. ed., 2016. Making ecopreneurs: developing sustainable entrepreneurship. CRC
Press.
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Smith, T. and Barrett, R., 2016. Online learning: An effective means for developing small
business owner-managers’ capabilities?. Journal of Small Business and Enterprise
Development. 23(1). pp.207-223.
Thomä, J. and Bizer, K., 2013. To protect or not to protect? Modes of appropriability in the small
enterprise sector. Research Policy. 42(1). pp.35-49.
Williams, C. and Martinez, A., 2014. Is the informal economy an incubator for new enterprise
creation? a gender perspective. International Journal of Entrepreneurial Behavior &
Research. 20(1). pp.4-19.
Wynarczyk, P., Piperopoulos, P. and McAdam, M., 2013. Open innovation in small and
medium-sized enterprises: An overview. International Small Business Journal. 31(3).
pp.240-255.
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