Small Business Enterprise - Hungry House
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Added on 2020-01-07
Small Business Enterprise - Hungry House
Added on 2020-01-07
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Small Business Enterprise1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Producing a profile of selected business ...............................................................................31.2 Analyzing the financial performance of firm with its competitors........................................4TASK 2............................................................................................................................................52.1 Recommending with justification, an appropriate action to overcome the weaknesses........52.2 Analyzing ways in which the existing performance could be managed and strengthened....62.3 Suggesting new areas in which business could expand with reasonable justification...........7TASK 3............................................................................................................................................83.1 Assessing the existing objectives of the business as well as plans........................................83.2 Revising the business plan for incorporating the changes ....................................................93.3 Preparing an action plan to implement the changes.............................................................10Task 4.............................................................................................................................................114.1 Impact of the proposed changes on the business and its personnel....................................114.2 Plan for how the changes will be managed in the business................................................124.3 The improvements in the performance of the business over the past two years (preferablyusing trend graph or other suitable reporting format)................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................152
INTRODUCTIONOperating the business at small level is the most important task as management need totake the risk and ensure the successful operation of the same in the marketplace. This requires totake action related to management of different business activities such as arranging financial andallocating the same for accomplishing long and well as short term objectives. Present report isbased onHungry House that is an online takeaway ordering service company which establishedin the year 2007. It is the UK based business which assists corporation to generate theinvestment and meet the expectations of large number of buyers effectively. Further, detailanalysis of business is done with the help of its Swot and financial analysis. Apart from this,existing business objectives are explained along with suggestions to bring changes. In addition tothis, improvement in the performance of the business over the past two years has been explained.TASK 11.1 Producing a profile of selected business The profile of selected business such Hungry house has been presented as follows. Thesedetail of the corporation proves to be effective to gather all important information related tobusiness.Organization’s name Hungry House (online food ordering)VisionTo offer delicious & healthy food along with extraordinary diningfor the happiness & joy of our customers. MissionTo be an excellent restaurant operator that offers healthy &delicious food to customer's. & to provide a quick and warmservices to maximize customer's satisfaction.Key people Children's & couples who mostly avail the fast food itemsHistoryHungry house was founded in 2003 by the Shane Lake & TonyCharles they was a co founder of the company. They launched theonline platform in 2006 for the online food ordering. The salesturnover was generated by the company was 100000 in 2007. Thetotal revenue was increased up to the 150000 after the deal withthe different alternatives. At the initial level the firm wanted toincreasing the hungry house restaurant partners from 150 to 2500 inbetween the duration of 2007-2010. 3
Activities and functionsThe hungry house company have a online platform via the freeiPhone or Android apps. By the use of this app customer canidentify their address, they also browse the menus & services whichare offered by the company & read customer reviews regarding totheir services. To place an order on the online & select the menuitem To offer delicious and healthy food along with extraordinarydining service for the happiness and joy of our customers which areplaced in the order basket after that online payment can be made viacredit/debit card (Hungry House Customer Service Contact Details,2017)Business locationLondon, UKStrengths & weaknesses Strength – Minimum spend bracket will ensure a higher spend fromcustomers. High convenience service, central location, densepopulation.Weaknesses – Can only reach a set radius & high operationalcost/running of delivery vehicle. & their Competitors are Just Eat,Grub Hub & Deliveroo1.2 Analyzing the financial performance of firm with its competitorsThe financial performance of Hungry House has been assessed with the help of ratioanalysis under which shed light on different areas such as production, marketing and sales aswell as human resources practices. In this manner, corporation can effectively contribute towardsdelivering good quality of services and create competitive edge in the marketplace. Furthermore,Hungry house tend to follow good HRM practices for building good relationship with workforceand supporting them in achieving long as well as short term objectives in the marketplace. Forthis purpose, it is important for corporation to focus upon motivate personnel (Berger, A.N.,Cowan and Frame, 2011). At the same time, management uses innovative tools and technologiesfor delivering the product among end users and keep the customers update related to variedproducts and services. It facilitates to increase overall rate of return in the marketplace. Apartfrom this, marketing services are also delivered with the help of effective technological4
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