Regular Monitoring and Assessment for Expanding Business in Monaco and Thailand

The assignment content discusses the importance of small businesses in expanding their operations to new markets, such as Monaco and Thailand. William Performance Tenders is a small business enterprise that offers yacht services, and to expand its business, it needs to identify customer needs and provide similar services. The report highlights the need for regular monitoring and assessment to ensure improvements in performance over a given timescale. It also emphasizes the importance of using effective tools and techniques, such as Balance Scorecard, TQM, and Six Sigma methods, to measure performance improvements. The conclusion is that small businesses like William Performance Tenders can have a significant impact on country growth by expanding their operations and creating new opportunities.

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Small Business Enterprise

Table of Contents
INTRODUCTION.........................................................................................................................3
TASK 1...........................................................................................................................................3
1.1 Profile of organization......................................................................................................3
1.2 Comparative Analysis of organization..................................................................................4
TASK 2...........................................................................................................................................4
2.1 Actions to overcome with weakness and recommendations with justifications....................4
2.2 Ways to maintained existing performance............................................................................5
2.3 New area of business...........................................................................................................6
TASK 3............................................................................................................................................6
3.1 Assessment of existing business objectives and plans..........................................................6
3.2 Revising business plans to incorporate appropriate changes.................................................7
3.3 Action plan to implement the changes...................................................................................7
TASK 4............................................................................................................................................8
4.1 Impact of the proposed changes on the business and its personnel.......................................8
4.2 Plan how the changes will be managed in business..............................................................8
4.3 Monitor improvements in the performance of business over a given timescale...................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Small business enterprises are making equal contribution in country’s growth. There are many
organizations in UK which are working as small business enterprise. The present report is based on the
William Performance Jet Tenders which is UK based organization. Entity is engaged with
making different types of water jet. This report makes analyze on profile of organization and
make competitive analysis with Cockwells which is offering similar nature of products. This
present report also makes analyze on weakness of company and ways to maintain the present
strengths (Blackburn, Hart. and Wainwright, 2013,). At, last it makes analyze proposed changes
and monitor improvements in performance.
TASK 1
1.1 Profile of organization
The William performance tenders make and deliver of all types of jet tenders in smaller
packages. The organization build different types of power boat such as mini jet, turbo jet and
sport jet. Each product of organization combined with reliability and stability. Following is
the business profile of organizations
Name of company William Performance Jet Tenders
Owners structure Private company
Activities The main activity which is performed by company is to make and
develop different types of super water boats. Owner of company John
and Mathew William started making boats in 1996. Entity is engaged in
developing different types of models such as diesel based jet, Turbo jet
and much other super power boat for their consumers (Burrows 2015).
Strengths and weakness The main strengths of organization they are making different types of
super jet along with different types of design. Entity is designing tender
launch systems to launch and recover turbo jet into yacht garages. They
acquired dominant position in their home country. They are using
advances technology for making their water jets. Weakness of
organization is that they are giving only limited services to their

customers. There market is limited to only UK. There are making jets
which small in size and along with this they have limited number of
employees (Carraher and Paridon, 2015).
1.2 Comparative Analysis of organization
William Performance Tenders is UK based company. At initial level that make
only wooden based boats but presently concentrates solely on four-stroke jet craft and is the
leader in its field. The main competitive of organization is Cook Wells which is also offering
similar nature of services to their customers.
Comparative Analysis
The Cockwells is focused moreskilled craftsman rather than a cleverly programmed machine.
At the initial level the company is focuses on building only three or four boats. But later they are
developing different types of affordable off-the-shelf line of pilot boats. On the other hand William
Performance Jet Tenders is focuses on developing small boats. Their main focuses in developing
small, high-end jet boat shows no signs of losing its appeal (Ellis, 2016). In the last two years
Williams’ssales is an increase by 23% and the other hand sales of Cockwells sales in increase by
20%. William tender is focuses more on developing small jet with speed and stability but
Ccockwells is focuses more on quality of the jet.
TASK 2
2.1 Actions to overcome with weakness and recommendations with justifications
William performance tenders is making and developing different types of super jet in
UK. They are engaging with developing many types of products such as mini jet, turbo jet and
sport jet. However , the company is facing may other problems in its current operation.
The main weakness which is organization is facing is its limited market place. Company
is offering its services in UK only and also they have only limited number of customers. William
performance tenders making different types of super jet but their market is limited to only UK. In
order to expand their business they have to increase’s their market out of its domestic market.

Along with they are making only small sized power boat. In addition, they have limited number
of employees in its developing team (Goss, 2015).
Recommendations
In order to expand its business and overcome with its weakness company need to
expand its geographical are and also need to offer its services in other regions. Along with they
also need to hire some more technician which helps to tem for making super jets. William
performance tenders have only limited number of customers because they are making more
luxury products for their customers so in order to gain more customers they have to adopt such
practices in its business so they can make more cost effective products for its consumers.
2.2 Ways to maintained existing performance
William performance tenders making and developing different types of water jest for its
customers. Speed and stability is main aim of their organization. For this they are making more
effective products by using advance technology for their customers. Following are main
strengths of company (Blackburn, Hart and Wainwright, 2013).
Offering wide range of products
William performance tenders is offering different types of products such as mine jet,
turbo jet, support jet and diesel jet. All this products are based on speed and stability. By offering
different types of products they are attracting more customers in its business.
Dominated position in UK
The organization hold dominated position in its domestic market. In UK the organization
acquired huge market share and along with they are also making their product with unique
design as per requirements of their customers(Goss, 2015). . In order to maintain this strengths
they also have to offer more products so they gain more market share.
Use of advance technology
William performance tenders is using advance technology for making its jet products.
Every inch of the jet has been designed to work perfectly as both a tender and ski boat. Jet engine

is clean, quiet and safe with exposed moving parts. To marinated this strengths they also need to
focuses on making cost effective products
Technical team
For making super jet they passed advance team which helps to tem for making many
products (Carraher andParidon, 2015). In this they can also need to hire more workers in its
technical team so they can develop more advance products.
2.3 New area of business
To expand business of the organization they are many new area businesses. In order to
ensures new long term business growth. For expanding business they can offer new products or
expand their geographical.
The new business area of William performance tenders is to expand its geographical; are
out of its domestic market. Entity can offer its product in many other regions such as Europe,
Middle eastand in emerging countries (Storey, 2016). The main advantage of offering services in
these countries is that they have large number people who also like to water sports. In this they
are also offering many other products so they can expand their business in effective manner.
Along with this the organization can offers unique and different types of products to their
customers. In this William performance tenders can use more advance technology such as add a
sound system for skiing to your favorite tunes or added rear facing seats for their
passengers so they can enjoy the actions.
TASK 3
3.1 Assessment of existing business objectives and plans
It is essential for each and every organization to develop certain objectives and plans such
as satisfying the needs of customers, enhancing sales and profitability of firm in market. Here,
William Performance Tender is an SME which obtain small customer base and thus its main
motive is to enhance the market share by providing them good quality products and attain
customer satisfaction. Cited firm aims to expand its business in international market by providing
unique features such as providing customized renders (Barros, 2004). Thus, it is one of the main
business objective and therefore firm aims to reach its untouched market i.e. Monaco and

Thailand. William Performance Tender also possess effective plan such as expanding the
business in small cities and town through making agreement with different yacht renders and
thus provide services jointly. Cited firm had made the plan of reaching the extreme level till
2025 and thus enhance its market size by 20%. Management of firm focuses upon identifying the
needs of customers and launching their businesses in famous tourist destination in order to attain
desired objectives. William focuses upon rendering yacht services in major countries so that its
international expansion could be done (Benzing and Chu, 2002).
3.2 Revising business plans to incorporate appropriate changes
Through identifying the business performance of William Performance Tender it aims to
revise the set business plan and thus incorporate appropriate changes so that market share of firm
could be attained. Further, cited organization focuses upon boosting its market share and for that
firm requires identifying its potential market and then launches their yacht services in order to
make effective relations with customers. Further, another business plan that needs to be revised
such as business should incorporate appropriate changes such as launching new diesel and bio-
chemical engine in regard to provide best quality services to guests (Anglund, 2000). Another
business objective which needs to be revised is that introducing loyalty card scheme so that
regular customers could be attracted towards firm. William Performance Tender identifies
appropriate changes in order to revise the aims and objectives of introducing unique quality
products to customers. In regard to launch the yacht services, firm need to collaborate and make
agreements with other service providers so that they can expand its operations in regard to
enhance sales and profitability in market. Cited firm also beings appropriate changes in its plans
and objectives and thus bring enhancement in its products through launching Jet 565 and
influences target customers (Storey, 2016).
3.3 Action plan to implement the changes
William Performance Tender focuses upon preparing appropriate action plan so that they
could implement the changes in terms of achieving set aims and objectives. It is as follows-
Feasibility study- It is one of the effective step that helps in implementing the changes and thus
identify the feasibility of introducing the new product range in market. Further, top management
of William Performance Tender enable business to make feasible changes and thus improve
performance so that large number of customers could be attracted (Curran and Storey, 2016).

Market research- Further, it is another step that helps in bringing change through carrying out
market research and thus identifies the customer needs so that similar yacht services could be
rendered by customers (Blackburn, Hart and Wainwright, 2013).
Identifying the market trends- With the help of such step it helps in conducting the market
research and thus identify the trends so that new diesel jet engine is being launched and thus
develop similar products that satisfies the needs of clients.
Marketing of diesel and sport jet 565- William Performance Tenders could carry out
appropriate marketing of diesel and sport jet through exhibitions and trade shows. Thus, it is the
best way through which it results in influencing sport lovers (Bartlett, Bateman and Vehovec,
2009).
TASK 4
4.1 Impact of the proposed changes on the business and its personnel
Following are the impact of proposed changes upon the business and its personnel such
as-
New opportunities- Implementing such changes helps in creating different opportunities for
William Performance Tender and thus expand its operations in terms of launching its services in
international market i.e. Monaco and Thailand (Wheeler, 2004). Thus, it obtains positive impact
in relation to reach untouched market so that yacht services tenders could enhance its services.
Customer centric- It is another change that impacts upon business and personnel and helps in
creating strong relationship so that new clients could be attracted towards firm. Cited
organization provides sport yacht jet that satisfies the needs of clients.
Customer relationship management- Moreover, its impact upon William Performance Tender
is that firm focuses upon developing customer relationship and thus offer them loyalty card
scheme (Digler, 2014). However, it is essential for organization to identify the needs of
personnel and bring enhancement in its services so that customer satisfaction could be attained.
Awareness- Further, cited firm adopt different promotional campaign make customers aware
regarding the yacht services and influence them enhance business performance. It results in
expanding the business operations in market (Barros, 2004).
4.2 Plan how the changes will be managed in business
It is essential for business to identify the changes and manage the same within business in
relation to measure the performance of firm in market. William Performance Tenders effective

make plan in regard to manage the changes and thus introduce diesel and motor jet yacht so that
sport lovers could be attracted towards firm (Benzing and Chu, 2002). Therefore, through
managing such changes it helps in making regular feedback from customers so that issues could
be overcome. Top management of firm needs to identify the changes and bring improvements so
that yacht dealers could manage the business objectives in regard to manage the changes so that
performance of firm could be managed. Firm could regularly carry out meeting with its dealers
in order to identify the needs of customers and bring changes so that the same could be
implemented to improve the performance of firm in market (Anglund, 2000). However, all such
changes need to be managed within firm in terms of introducing regular monitoring and
assessment in terms of identifying the customer needs and provide them similar yacht services so
that firm could expand its business in Monaco and Thailand.
4.3 Monitor improvements in the performance of business over a given timescale
It is essential for William Performance Tenders to undertake effective tools and
techniques so that performance could be monitored in order to identify the perception of
customers and bring desired results so that success could be attained in an appropriate timescale.
There are different performance measurement standards such as Balance Scorecard, TQM and
Six Sigma methods that help in measuring the improvements of performance in market.
However, such method results in analyzing the improvements of performance and thus obtains
appropriate feedback so that high quality yacht services could be rendered to clients (Storey,
2016). In regard to monitor the improvements in the performance of cited firm it helps firm to
bring improvements in its products or services and thus improve the quality of firm in market.
Further, another quality performance method i.e. TQM which is being used by William
Performance Tender in regard to monitor the performance and maintain total quality within firm.
Through implementing all such changes it helps in monitoring improvements in the performance
of firm over a given time scale.
CONCLUSION
Summing up the present report it is concluded that Small business create huge impact on
country’s growth. There are so many opportunities are available for small business. For
expanding their business and earn profits they make and develop different types of unique
product and services to their customers. William Performance Jet Tenders is also a small
business enterprise which makes different types of jet. The main aim of company is to offers

small jets along with their speed and stability. However, in order to expand their business they
have to expand their business.

REFERENCES
Books and journals
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Group.
Barros, B., 2004. Business process patterns and frameworks: Reusing knowledge in process
innovation. Business Process Management Journal. 13(1). pp.47 – 69.
Bartlett, W. Bateman, M. and Vehovec, M., 2009. Small Enterprise Development in South-East
Europe: Policies for Sustainable Growth. Springer Science & Business Media.
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business,.strategy and owner-manager characteristics. Journal of small business and
enterprise development. 20(1).pp.8-27.
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Goss, D., 2015. Small Business and Society (Routledge Revivals).Routledge.
Storey, D.J., 2016. Understanding the small business sector. Routledge.
Wheeler, R. W., 2004. Integrating Wireless Technology in the Enterprise. Digital Press.
Online
Digler, J. R., 2014. Small Business: Access to Capital and Job Creation. [pdf]. Available
through: <http://fas.org/sgp/crs/misc/R40985.pdf>. [Accessed on 17 April 2017].