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Execution of Small Scales Business - Report

   

Added on  2020-06-04

17 Pages5353 Words51 Views
SMALL BUSINESSENTERPRISE

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Producing a profile of business and evaluating its strengths and weaknesses.................11.2 Analysing business using various comparative measures of performance......................2TASK 2............................................................................................................................................42.1 Recommendations and correct actions needed to overcome weaknesses in business......42.2 Methods to maintain and strengthen existing performance..............................................52.3 New region in which company can expand......................................................................6TASK 3............................................................................................................................................73.1 Giving assessment on existing business objectives and plans..........................................73.2 Reviewing the business plans and suggesting areas where changes can be made...........83.3 Preparing action plan to implement the changes..............................................................9TASK 4..........................................................................................................................................104.1 Impact of proposed changes on business and its personnel...........................................104.2 Direction of proposed changes in business....................................................................114.3 Measurement of improvements in the business over past two years..............................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONSmall businesses are contributing towards growth and development of economy at a veryfast rate. They are valuable in providing development to various elements and stability factors inthe economy. It is valuable in enhancing liquidity ratios in economy so that more number ofpersons can be added to the financial system of the economy. The firms who are operating theirbusiness at smaller scale help in providing employment to large number of people in order toincrease their living standards. There were conditions of recession in the economy in 2008 at thattime small business gave their support in achieving growth in economy. Clearly PR are firmswhich are dealing in marketing. They were also concerned about stability while achievinggrowth (Ackermann, 2013). There are various acts which have been stated in statutory laws likecompanies act 2006 etc. This act states that all the small scale companies are one which arehaving less than 50 employees working under them and turnover is of more than 6 million. Thisreport is based on the execution of small scales business, modifications which can beimplemented in order to improve performance of business concern and management, revisingobjectives and changes as well as impact generated from these modTASK 11.1 Producing a profile of business and evaluating its strengths and weaknessesThe Clearly PR which are involved in marketing communications and Public Relationsare based in UK in Wales. These business activities are growing rapidly due to different creativeapproaches used in order to successfully perform all the business operations. These are involvingin serving multinational purpose in various fields in market areas. The company came into forceon 4th March in the year 2014. This project was aided by the Government authority of UK inorder to achieve growth and development in nation. Chairperson of the firm is Mr AlexanderPaul Mackenzie-Cummins. They are mainly focusing on providing solutions to their potentialclients in order to resolve the issues. They have been received awards and novels for their goodwork. Various methods have been used in order to increase their sales ratios and achievingsatisfaction of customers. They can easily make difference from other marketing areas by usingnew and innovative methods (Bellucci, 2010)Company has achieved growth which can be evaluated by increasing turnover of 2.3million and they are trying to enhance it further by 7 Million. They have taken contract from1

various firms which are performing their business activities in different sectors. This can includethe agreement for handling all operations which are dealing in marketing and making effectualpublic relations for universities which are situated in Southern Wales. Their motive remainssimilar in all aspects for ever as one of their cooperative founders left the organisation. The taglines used by business are “To know about read and heard by all persons who are most valuablein society”. They have notices increasing in there sales ratios as compared with the past years.The selected business is having well founded and established social media which are valuable inattracting large group of persons who are facing some issues. Various SMART Targets havebeen set by firm so that they can easily achieve al there Goals and business objectives which areevaluated as:To becoming creative thinker and develop insightful.Innovations should be used in order to produce goods so that they can easily achievehigher levels of customers satisfaction by giving them goods according to there choices.Growing with the help of ecology and concern about the environmental aspects(Carraher, 2015).Strengths of businesses are:Generating solutions according to customer’s clientsLarger established client portfoliosThey are well established business at the marketplaces.They had established team working in order to achieve effective results.Weaknesses of company are:They are having limited number of shares in the economy at marketplace.Ratio of staff turnover rate is higher.They are having high risk from the competitors.They are lacking in having concern for social responsibilities towards the society.1.2 Analysing business using various comparative measures of performanceThe selected small level business which are dealing in Communications and establishingPublic Relations. They are achieving growing and will soon see themselves among the toppositions at market place. In the current scenario, they have employed more than 50 employeeswho are evolved in performing their business operations. They are dealing with different types ofcustomers. It is the duty of managers to evaluate performance of their employees in order to2

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