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Small Business Enterprise INTRODUCTION 1 TASK 11

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Added on  2020-07-23

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Small Business Enterprise INTRODUCTION 1 TASK 11 1.1 Profile of a business with its strengths and weakness 1 1.2 Analysis of business performance using comparative measures 3 TASK 24 2013). Appropriate 2.1 actions to overcome the weakness4 2.2 Ways in which performance of business canbemaintainedand strengthened 4 2.3 New areas in which business can expand5 TASK 36 3.1 Existing business objectives and plans6 3.2 Revision of business plan for changes 7 3.3 Action plan for implementing the changes 8 TASK 49 4.1 Impact of changes on business

Small Business Enterprise INTRODUCTION 1 TASK 11

   Added on 2020-07-23

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Small Business Enterprise INTRODUCTION 1 TASK 11_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Profile of a business with its strengths and weakness...........................................................11.2 Analysis of business performance using comparative measures..........................................3TASK 2............................................................................................................................................42.1 Appropriate actions to overcome the weakness....................................................................42.2 Ways in which performance of business can be maintained and strengthened....................42.3 New areas in which business can expand.............................................................................5TASK 3............................................................................................................................................63.1 Existing business objectives and plans.................................................................................63.2 Revision of business plan for changes..................................................................................73.3 Action plan for implementing the changes...........................................................................8TASK 4............................................................................................................................................94.1 Impact of changes on business and its personnel..................................................................94.2 Management of changes......................................................................................................104.3 Improvements in the performance of business....................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONConcept of understanding small business enterprises has become vital as these play animportant role in the growth of an economy. Government of every country provides various typeof resources and encourage the activities of small business enterprise (Nga and Shamuganathan,2010). These types of organisations give employment opportunity to a large number of localpeople and helps in increasing their standard of living. They not only conduct business activitiesbut also provide various support services to large business enterprises. Caffe Finix coffee shop isselected in the present report which is a small cafe that provides coffee, breakfast and tea to itscustomers to fulfil their daily needs. Present report involves information about various strengthsand weaknesses with comparative analysis of this coffee shop. The way in which enterprise canmake efforts to overcome these weakness and recommendations to improve the businessperformance is also mentioned here. Further, expansion of small business enterprise in new areasand the way changes affect business and its personnel will be described.TASK 11.1 Profile of a business with its strengths and weaknessBefore starting a business, it is necessary to give consideration on its main objectives andaim. Objectives can be either for short term or long term. Understanding the nature of business,risks involved in this, substitutes of this available in the market all is very important. Caffe Finixcoffee shop is built on a 1600 square feet and is in the centre of the city.For better understanding of business, SWOT analysis is a beneficial tool. SWOT analysisIt is the first tool which help or guide decision makers in taking effective decision byfocusing on main issues of the business (Jasra and et. al., 2012). It helps in making strategic planfor business by identifying its strengths, weaknesses, opportunities and threats. In this, strengthsand weaknesses are internal while opportunities and threats are external. SWOT analysis ofcoffee shop is given as below:StrengthsStrength refers to those qualities or capabilities of an enterprise which made it unique ordifferent form others. By effectively using its strengths an enterprise can achieve competitive and1
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better position than other companies. Strength of a company can be wide range of its productportfolio, its loyal customers or can be the its large amount of financial resources.Following are the main strengths of Caffe Finix coffee shop:Fresh quality of its food products including coffee and teaWide range of its product lineGood locationLoyal customersHigh reputation among its customersIncreased sales turnover WeaknessesWeakness is the limitation of a firm as compared to its rivals. It can be the lack offinancial resources, weak product portfolio, etc (Al-Dajani and Marlow, 2010). Weaknesses ofCaffe Finix coffee shop are:Rent of the coffee shop is very high.Range of food products is low than its competitors.Little popularity of brandOpportunitiesOpportunities are the favourable conditions of business environment of which a firm cantake advantage. To effectively grasp the opportunity existing in the environment, firm shouldhave all required resources l. Following points show the main opportunities of Caffe Finix coffeeshop:Firm can start is franchising business.By investing in developing countries, firm can earn more profits.As coffee shop market is growing at a rapid pace in the UK, so, firm can invest morecapital in this.Threats That troubles or fear of a firm which can negatively affect the overall performance ofbusiness (Lambert and Davidson, 2013). Owner of firm should try to minimize the effects ofthreats on business and its performance. Following are the threats for Caffe Finix coffee shop:Large number of competitorsChange in the policies of government and taxation2
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