Factors Affecting Business Success of SMEs

The assignment requires students to analyze various studies and research papers on the factors affecting business success of SMEs, including entrepreneurial orientation, innovation capacity, marketing practices, and environmental responsibility. It also involves understanding enterprise entrepreneurship and small business start-ups, as well as the impact of e-marketing use on SMEs' marketing success. The assignment aims to provide a comprehensive overview of the key factors influencing SME business success.

Small business enterprise

Table of Contents
INTRODCTION..............................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Profile of the Balti Palace restaurant its strength and weaknesses........................................3
1.2 Business analysis with comparative measures of performance............................................5
TASK 2............................................................................................................................................7
2.1 Recommendation to beat shortcomings of The Balti Palace ..............................................7
2.2 Way to keep up existing execution and strengthen them .....................................................8
2.3 Recommendation for business extension .............................................................................9
TASK 3............................................................................................................................................9
3.1 Assessing present strategies for success and goals .............................................................9
3.2 Plans to join changes ..........................................................................................................10
3.3 Action intend to execute changes .......................................................................................11
TASK 4 .........................................................................................................................................12
4.1 Impact of proposed changes on business and work force ..................................................12
4.2 Management of changes inside business ............................................................................13
4.3 Monitoring changes in the execution of business ..............................................................14
CONCLUSION .............................................................................................................................14
REFERENCES..............................................................................................................................16

INTRODCTION
Small scale association are sorts of organizations where activities are done in little level
and representatives are less. For most part various employees working in these sort of
endeavours are approx 50, and deal volume of organizations are additionally not all that high. It
is extremely helpful for organization since it will help with achieving upper hands and to
maintain in showcase. Balti Palace is a restaurant which is situated in London, they provide
various eatable and beverage products to the people (Ackermann, ed., 2012). It additionally has
two nurseries that are managing and working in London itself. In this report strength and
weakness of the firm is been described. Strategies, methods and plans is also evaluated.
TASK 1
1.1 Profile of the Balti Palace restaurant its strength and weaknesses
The Balti Palace is a restaurant which is situated in London,
Overview
There main philosophy is to provide the nature to the plates of their customers, this restaurant is
been started by chef tom, they use to serve the British cuisine in better and freshest way. They
are located in London. They use to provide the relaxed and the warm atmosphere to their
customers, and provides the welcoming services to them and that attracts more people to the
dining.
Nature of this business is dine- in restaurant,
Mission of The Balti Palace is to provide the finest and the freshest meal to the customers by
bringing down the nature to the plates. They want to make experience of their customers every
time become best (Barbero, Casillas and Feldman, 2011).
Products and services which The Balti Palace use to offer their customers by providing wide
range of drinks, food and the online shopping products for example, gift vouchers, meal
vouchers and the recipe books. Opening time of the restaurant is from 12:15 to 2:30 PM and in
evening 6:30 to 10pm and Sunday Monday is closed.
Menu of The Balti Palace

(Source:The Balti Palace menu, 2017)
Modes of payment in The Balti Palace: credit cards, cash and E-wallets
Strength and weakness analysis of The Balti Palace
Strength Weaknesses
The Balti Palace use to provide the best quality
foods, they use to cook the finest and fresh
things from the local farm which is been
produced in warm and relaxed condition. All
the ingredient which they uses are been
provided by the local suppliers of best quality
which makes their food little different. This
restaurant keeps some touch of the Indian
heritage in their textures, furnitures, the
designs, colours, etc. they had made the dining
The major weakness of The Balti Palace is its
opening timings as because that is limited and
they close early. They use to restrict those
customers who are professional and prefers to
have food late night. And even they use to keep
their restaurant closed on Sunday and that can
limited those who prefers to go in restaurants
on Sundays. Even they only use to serve
British food which directly means that they
only have the limited options for the customers
The Balti Palace menu

with real stones and woods which use to give a
cosiness, the colour tone of is kept silver and
grey with turquoise which provides the mood
of relaxing (Battisti and Perry, 2011). The
textures which they use over there is like glass,
wool, fur, stone, etc. so that it can provide
enjoyable environment. This even make it
warm and attractive place for the customers.
Even the price of this restaurant is affordable.
They have a very strong relation between their
suppliers an they maintain it properly as the
suppliers also provide them the seasonal
products to The Balti Palace restaurant.
to have.
1.2 Business analysis with comparative measures of performance
All the performance which are done in The Balti Palace can be measured by the help of
financial profits, customer satisfaction, ROI, employees retention, sales, etc. in recent times this
restaurant got many awards. All these awards are the example of its quality products which they
provide to their customers.
Table-1 Profitability comparison of The Balti Palace and wedge wood the restaurant in year 2011
to 15.
The Balti Palace
£
Wedge wood The restaurant
£
Year PBT PAT PBT PAT
2015 9994 9728 13112 12597
2014 9425 8254 10201 9654
2013 7520 6476 9301 8452
2012 5276 4295 7910 7249
2011 5077 3124 5615 4817

The above shown table it is seen that the profit generation of the restaurant The Balti Palace is
growing good in years between 2011 to 15, and the PAT is also growing and this is a good
performance shown, but in comparison to the another restaurant Wedge wood The restaurant is
little low so for that The Balti Palace have to make efforts to increase like them and The Balti
Palace objectives is to achieve the higher profit in the upcoming year (Bridge and O'Neill,
2012).
Table- 2 sales between the year 2011-15
The Balti Palace
£
Wedge wood The restaurant
£
Year
2015 26900 38745
2014 28762 34561
2013 32457 42356
2012 25468 32546
2011 19425 21234
By the above shown table it is been analysed that the sales of both wedge wood and The Balti
Palace but in comparison wedge wood is having more sales then The Balti Palace restaurant.
Among with the financial reports and other things some of the other reports are their to see like
the brand awareness
Table- 3 Comparison in between both restaurant of brand awareness
Year ending 2015 The Balti Palace Wedge wood The
restaurant
Loyalty 5 4
Brand awareness 4 5
Perceived quality 6 6

Other attributes such as patents or trademarks 6 7
The Balti Palace is having higher brand awareness then wedge wood restaurant.
Table-4 Customers perceptions of the food and service quality
Year ending 2015 The Balti Palace Wedge wood The
restaurant
Can it really deliver the superior
performance
6 7
How do it can compare with the
competitor offering
4 5
How would it compare with the
competitor offering in the future
competitive innovation
5 6
Is it a good value 4 5
In this table comparison in between both the restaurant is been done in terms of performance and
money value and in this wedge wood ranked high then The Balti Palace.
TASK 2
2.1 Recommendation to beat shortcomings of The Balti Palace
There are sure shortcoming of The Balti Palace which may prompt critical misfortune in
its operations so it is fundamental for association to decide its shortcomings continually which
help with overcoming from assessed negative factor. Associations advancement and
development is specifically connected with its shortcoming if these are not killed inside time
allotment it will decay development and improvement, once recognized shortcomings are
evacuated it underpins in development and business achievement (Burns, 2010). The primary
shortcoming of The Balti Palace distinguished is that it gives benefits just in specialized area
which limits productivity and extent of business operation. For overcoming from this
shortcoming The Balti Palace must begin giving administrations in non specialized field which

will specifically bolster in business development and increment profitability. Aside from this it
will helps association in expanding new customers and applicant from non specialized areas.
The promoting exercises of business can be directed by utilizing diverse types of media,
for example, online networking, TV broadcasting, pennants, flyers, standards and blurbs.
Utilization of these media, will bolster The Balti Palace in making its mindfulness among
people. The advertising assumes noteworthy part in expanding customers and contender for
association and backings in expanding benefit. The shortcoming in need utilization of innovation
inside association a be wiped out by adaption of new advances. The adaption will helps bolster in
preparing contender to give great people to its customers separated for this innovation helps in
building better correspondence framework inside organisation. The association must build up its
methodologies which will help in conveying viable and quality support of its clients.
Administration structure of big business must be changed inside certain time temporary to
expand execution effectiveness.
2.2 Way to keep up existing execution and strengthen them
The qualities are some of positive elements of business which underpins being developed
and development of firm. These positive components decays inside certain course of time and
has a tendency to end up shortcoming so its is imperative for association to work viably which
will help with strengthen and keeping up existing execution and qualities. There are sure which
underpins in strengthen existing execution. The primary positive key component of The Balti
Palace is that it gives quality administrations to its customers and competitors in food.
Achievement of ventures is specifically connected with the people who takes administrations,
aside from this, administrations clients are just who decays associations development. So it is
important for association to give incredible administrations to its customers and they work with
goal to accomplish finish fulfilment level of administration client through its services (Business,
2013).
Accomplishing fulfilment of people helps in expanding new customers and hopefuls and
keeps up enthusiasm of existing administration clients. For keeping up and strengthen existing
execution The Balti Palace can take criticisms from its administration customers inside certain
time interims so as to decide negative and positive components of business. Positive elements
bolsters association in huge execution where as negative components goes about as a hindrance
to its execution. It is fundamental for association to consider negative components decided

through criticisms vital and firm should endeavour to dispense with those so as to keep up and
increment execution quality. Estimating strategy i.e. cost charged by enterprise for its
administrations must be kept up it must not be too high or too low which prompts losses.
Consistent changes in valuing arrangement leads straightforwardly influences number of
administration client and approach embraced must not be discriminative. Cost upkeep by firm
will bolster in expanding execution and new customers of The Balti Palace with critical emerge
in its productivity. Endeavour must break down new patterns and culture in the market and it
ought to give benefits in like manner this will bolster in upgrading its execution. All the above
components will bolster The Balti Palace in keeping up and reinforcing its execution.
2.3 Recommendation for business extension
Ventures dependably have scope for its extension. The new extension by endeavours
makes new open doors for its advancement and development for associations and people related
with it. Extension of business is critical factor for improvement of brand picture and piece of the
overall industry. It is a piece of ventures where it tries to grow in new field with existing one.
As The Balti Palace restaurant is working to provide better dining services to the people and if it
is been expended by them then it would help them in development and growth.
As association is as of working in dining services, It underpins undertaking in winning
additional salary from new extension. The extension in these field will increment critical brand
image in business market and that will bolster in rivalling its competitors. The Balti Palace can
grow its business in new parts identified with new more dishes to build its piece of the overall
industry and benefits (Eid and El-Gohary, 2013). The start up of business as a restaurant which
more variety of cuisines will produce great number of customer and it is a parts which can be
effectively developed with less endeavours. Development of business in these division creates
stable and proceeds. The Balti Palace likewise have a noteworthy open door for extending its
venture in new nations to gain cash and builds global customers.
TASK 3
3.1 Assessing present strategies for success and goals
Small business are produced with their points and goals for which people related with it
tries their best to accomplish its coveted and foreordained targets. The designs are of business are
specifically connected with its targets and its is set up by considering it, to accomplish

effectively. The fundamental goal of The Balti Palace restaurant is to provide better services and
to bring nature to the plate. They tries to provide better meals to people and good atmosphere to
their customers. For giving quality foods it have certain plans which help with accomplishing
this target.
For these association gives noteworthy preparing to its hopefuls which enhances aptitude
of them and aides in providing better services to customers. The association additionally have a
target to expand number of its customers (Forsman, 2011). For accomplishing this target
association have created arrange for which will help in accomplishment. Showcasing plan is
created by association where limited time exercises for business must be embraced. This will
bolster association in making mindfulness about the sorts of administrations gave by them which
will straightforwardly expand number of administration clients. Association additionally have a
goal to create it mark picture among business advertise. This goal of The Balti Palace restaurant
will likewise be accomplished with the help of advertising design.
Aside from above destinations The Balti Palace restaurant have a goal to grow its
business in new nations to expand its gainfulness and catch global market with remote salary.
For accomplishing goal of business extension in various nations in have arranged monetary plans
through which venture will gather stores from various sources which is required in beginning
business in new nations (Gill and Biger, 2012). Extension of business will likewise be bolstered
by advertising designs created by enterprise. The association have another goal to keep up its
long haul development and achievement in business world and contend with contenders. For
accomplishment of these target association have plans to create methodologies which will decide
economic situation and support in making fundamental move to survive and get steady
development for big business.
3.2 Plans to join changes
It is important for business association to grow great gets ready for joining changes inside
it. It is exceptionally troublesome assignment for administration of business to create plans to
join certain progressions these plans must be extremely compelling as accomplishment of
consolidating changes inside association totally relies on plans prepared. The powerful plans will
helps in accomplishment of changes which needs to fused though ineffectual arrangement will
decay the achievement of firm and its development.

The present market is dynamic in nature where the tastes, inclinations and selections of
people changes according to the new patterns in the market for accomplishing these it is critical
for big business to create plans to adapt up to this progressions with great returns. The designs
planned by association is not and authoritative record which can't be changed (Islam and et.al.,
2011). It is a composed report which expresses the plans for accomplishing associations
destinations and it can be adjusted according to the circumstance emerges while consolidating
changes inside undertakings. For embracing adjustment done inside firm it is critical for
association to have huge plans. The business plan enable business to accomplish noteworthy
position with aggressive business to advertise. The firm can create estimating arrangement so as
to changes the costs for its administrations.
The designs in regards to valuing strategy decides costs for administrations and states
time span in which cost is to be changed. The adjusting of plans which helps association
modifying cost for benefit essentially without declining its number of customers at the changed
costs. The Balti Palace restaurant can create advertising gets ready for advancement of brand
picture inside aggressive business showcase (Jasra and et.al., 2011). The arrangement will
bolster association to complete advertising exercises adequately with the goal that they may
make mark picture among focused business showcase. These appropriately created designs by
big business underpins undertakings to roll out improvements viably without agony from any
misfortunes due the occasion if change done inside association.
3.3 Action intend to execute changes
The activity design is alluded to a rule for chiefs of association in everyday working of
business. Activity design must be created deliberately to be compelling. This arrangement have
extraordinary significance in administration of changes inside big business. The business point
and goal must be considered as an imperative factor while creating activity designs with respect
to changes which will bolster in accomplishing the coveted objectives viably and significantly.
The Balti Palace restaurant outlines activity design to accomplish certain predefined objectives
and focuses of big business (Mahmood and Hanafi, 2013).
Activity design arranged by association must indicate topics and things which needs to
accomplished with the aides of this. This readied activity design is to be conveyed down in
specific stages and stages. Its means and stages must be completed precisely and the parts and
obligations must be partitioned among people to do these activity plan. The organizer must

foreordain the devices and techniques which is to be utilized as a part of actualizing the plans.
The assurance of apparatuses supervisor must complete certain examination. The very much
created arrangement may have positive or negative effects on association. The designs arranged
must be in such a way which can be connected effortlessly and adequately inside business. Also,
estimating is important for deciding negative and positive effects of activity anticipates
association. It is imperative for directors to foreordain parts, forces, duties and technique which
Is to be utilized as a part of activity design (Oyedijo, Idris and Aliu, 2012).
This should be possible deliberately by deciding every single fundamental component
which can influence execution of plans. When it is produced by directing systems and
investigation of pertinent factor it must be actualized inside the venture well ordered in stages. At
the time on execution it must be assessed ceaselessly to decide negative and beneficial outcomes
of usage inside association.
TASK 4
4.1 Impact of proposed changes on business and work force
Every one of the progressions actualized inside association are just done to accomplish
certain objectives and destinations out of it. These progressions actualized inside business helps
being developed and development. Changes actualized inside The Balti Palace restaurant may
have certain positive and negative effects of business working and its prosperity and
development. These progressions specifically or in a roundabout way impacts on business and its
faculties i.e. proprietors and staff individuals and might help in providing better services to
people. The utilization of new innovation inside big business will bolster in lessening work stack
from its representatives and other staff individuals (Philip, 2011).
The progressions in adjusting new innovation inside The Balti Palace restaurant
impactful affect its workers as it increments there execution in everyday working. The signifiant
increment in capacity to perform by workers encourages The Balti Palace restaurant provides
better meals to the customers and they have British cuisine to serve. The adjustments in business
have adversely affected its representatives since extension of business have prompt increment in
parts and duties of business staffs and prompts worry of work stack in the representatives. These
change have additionally affected emphatically of The Balti Palace restaurant as it have
expanded potential customers and competitors. This expansion in the quantity of administration

client have fundamentally expanded benefit of big business with created mark picture inside
aggressive business showcase (Schaper and et.al., 2010).
Execution of progress inside The Balti Palace restaurant have bolstered in changing
structure of working viably by separating parts and obligations which underpins in upgrading
execution of enterprise. The critical change in estimating arrangement for administration of The
Balti Palace restaurant have upheld in procuring more pay without decay number of
administration client with changed cost for benefit. Changes in promoting approach of business
have upheld in expanding number of administration clients with successful increment in mark
picture of The Balti Palace restaurant . It have additionally helped in setting up business in new
nations with noteworthy increment in worldwide administration client and procuring remote
salary. The Balti Palace restaurant have created money related strategies which have helped
association in breaking down future necessity of assets for future developments and backings in
gathering required finances inside time period from various assets with ease on capital.
4.2 Management of changes inside business
Changes made inside big business underpins administration in accomplishing there
wanted objectives and targets adequately and efficiently. These progressions done inside
association influences the working of association it might be sure or negative effect, so it is vital
for big business to deal with these progressions appropriately to accomplish objectives
adequately. administration of changes and executing them efficiently helps in limiting it negative
effects from working of big business (Zortea-Johnston, Darroch and Matear, 2012).
Noteworthy structure can be framed by administrators of The Balti Palace restaurant
which will bolster in overseeing change inside business adequately. For overseeing change it is
important for association to do normal appraisal on connected changes. This evaluation of
changes will bolster in deciding negative and positive effects of changes. The positive effects are
useful for association while negative effects decays the development and advancement of big
business so it is important for business to take preventive measures to wipe out negative
variables to mage change. For administration of changes of association it is vital to characterize
the parts and duties of employees. The qualified work force of firm should be given obligation
and expert who will help in executing and dealing with the change he will do process on changes
effortlessly and successfully with no miss administration.

The every last stride of usage change inside big business must be dissected constantly to
decide it impacts. On the off chance that progressions causes negative effects on big business it
is important to made a move in regards to disposal of these elements. The chief of The Balti
Palace restaurant must take negative effects adroitly and must investigation the reason which
bolsters in expelling it completely. Directors of The Balti Palace restaurant must give critical
preparing to its representatives and other staff individuals which will bolster them to adapt up to
changes connected and underpins in performing admirably with the progressions. Administration
of changes inside ventures can be successfully overseen by persistent communication with
workers. Procedure of connection will decide antagonistic causes on staffs and recommendations
can be taken from them in overseeing change.
Connection will underpins directors to persuade workers to adjust change. Association
must include all staff individuals keeping in mind the end goal to deals with its progressions and
they should be given finished data about things to be changed before adjusting it.
4.3 Monitoring changes in the execution of business
Observing execution changes is a vital component which must be considered by The
Balti Palace restaurant . Association must choose and mindful individual for checking the
execution. Dependable faculty will screen all business exercises consistently to decide if
execution is expanded or diminished. This stage helps in assessing all round execution of The
Balti Palace restaurant. It underpins administration to decide many negative purposes of
execution which prevents development and improvement of association. Observing will bolster
endeavour in wiping out negative factors and keeping up its execution for long haul which
benefits in stable development and improvement of firm.
It straightforwardly bolsters by keeping association from misrepresentation exercises
which should be possible by its representatives and other staff individuals for their own
advantages. It additionally underpins in getting the learning about the brand an incentive in
focused business world (Zortea-Johnston, Darroch and Matear, 2012). The Balti Palace
restaurant can screen its benefit targets which bolsters in deciding if its benefit targets are
accomplished or not and explanations for it whether it is because of execution of different
exercises. In the event that objectives of benefits have not been accomplish because of
association execution it will bolster in making fundamental move to achieve its gainfulness

targets. The Balti Palace restaurant can screen its everyday administration with a specific end
goal to killed issues of fumble of company.
CONCLUSION
The above examination expresses that The Balti Palace restaurant is restaurant whose
mission is to bring the nature in plates of customers and give them a good and warm
environment to them. And they use you provide British cuisine to the people. It is a small
endeavour which is working in London with low speculation of capital inside restricted
extension. The report reasons that association have experienced through specific shortcomings
which decreases its execution. To overcome from this referred to organization have rolled out
noteworthy improvement in polices and created techniques which cultivates development and
advancement.

REFERENCES
Books and Journals
Ackermann, S.J. ed., 2012. Are small firms important? Their role and impact. Springer Science
& Business Media.
Barbero, J.L., Casillas, J.C and Feldman, H.D., 2011. Managerial capabilities and paths to growth
as determinants of high-growth small and medium-sized enterprises. International
Small Business Journal. 29(6). pp.671-694.
Battisti, M and Perry, M., 2011. Walking the talk? Environmental responsibility from the
perspective of small‐business owners. Corporate Social Responsibility and
Environmental Management. 18(3). pp.172-185.
Bridge, S and O'Neill, K., 2012. Understanding enterprise: entrepreneurship and small business.
Palgrave Macmillan.
Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave
Macmillan.
Business, D., 2013. Doing Business 2013-Smarter Regulations for Small and Medium-Size
Enterprises. The World Bank. Abgerufen am. 29(04). p.2013.
Eid, R and El-Gohary, H., 2013. The impact of E-marketing use on small business enterprises'
marketing success. The Service Industries Journal.33(1). pp.31-50.
Forsman, H., 2011. Innovation capacity and innovation development in small enterprises. A
comparison between the manufacturing and service sectors. Research Policy. 40(5).
pp.739-750.
Gill, A and Biger, N., 2012. Barriers to small business growth in Canada. Journal of Small
Business and Enterprise Development. 19(4). pp.656-668.
Islam, M.A and et.al., 2011. Effect of entrepreneur and firm characteristics on the business
success of small and medium enterprises (SMEs) in Bangladesh. International Journal
of Business and Management. 6(3). p.289.
Jasra, J.M and et.al., 2011. Determinants of business success of small and medium enterprises.
International Journal of Business and Social Science. 2(20).
Mahmood, R and Hanafi, N., 2013. Entrepreneurial orientation and business performance of
women-owned small and medium enterprises in Malaysia: Competitive advantage as a
mediator. International Journal of Business and Social Science. 4(1).

Oyedijo, A., Idris, A.A and Aliu, A.A., 2012. Impact of marketing practices on the performance
of small business enterprises: empirical evidence from nigeria. European Journal of
Economics, Finance and Administrative Sciences. 46. pp.130-146.
Philip, M., 2011. Factors affecting business success of small & medium enterprises (SMEs).
Amity Global Business Review. 6(1). pp.118-136.
Schaper, M. and et.al., 2010. Entrepreneurship and small business.
Zortea-Johnston, E., Darroch, J and Matear, S., 2012. Business orientations and innovation in
small and medium sized enterprises. International Entrepreneurship and Management
Journal. 8(2). pp.145-164.
Online
Small Business Enterprise Program. 2017. [Online]. Available through:
<http://www.txdot.gov/business/partnerships/sbe.html>. [Accessed on 28th August
2017].
The Small Business Enterprise and Employment Act receives Royal Assent. 2017. [Online].
Available through:
<http://www.icpa.org.London/portal/money_laundering/the_small_business_enterprise
_and_employment_act_receives_royal_assentl>. [Accessed on 28th August 2017].