Small Business & Enterprise Development

This assignment delves into the multifaceted world of small business and enterprise development. It explores various aspects, including the perceptions of ethics and corporate social responsibility (CSR) among small-business owners, the influence of networks on innovation and performance, and the significance of enterprise education as a pedagogical tool. Furthermore, it analyzes the impact of technology on small businesses, particularly through ERP integration, and examines the challenges and opportunities faced by these enterprises in today's dynamic environment.

Small Business Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Producing a profile of Kirsty's and its strengths and weakness............................................1
1.2 Analysis of the business using comparative measures of performance................................2
TASK 2............................................................................................................................................5
2.1 Recommendations and appropriate actions to overcome weaknesses..................................5
2.2 Ways by which current performance can be maintained and strengthened..........................6
2.3 New area's in which company can expand............................................................................8
TASK 3 ...........................................................................................................................................9
3.1 Give your assessment on existing business objectives and plans.........................................9
3.2 Review business plans and suggest areas where changes can be made..............................10
3.3 Prepare an action plan to implement the changes...............................................................11
TASK 4..........................................................................................................................................13
4.1 Impact of proposed changes on business and its personnel................................................13
4.2 Management of proposed changes in business...................................................................13
4.3 Measurement of improvements in the business over past two years..................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
The development of small business enterprise is very vital for any economy in today's
era. For every country in this world, it is very important to ensure that these small companies are
able to attain a higher level of productivity in the GDP. The main purpose behind boosting these
organisations is that they assist society in growing at a much faster speed. It aids in enhancing a
financial condition of a country while also improving flow of cash. They are also considered to
be a prime source of job generation. These are the reasons because of which United Kingdom
government in investing a lot of resources into the development of these companies (Ackermann
and Audretsch, 2013). Small business enterprises are the one which allowed UK economy to stay
secured in the bear the shocks of economic meltdown of 2008. As per Companies Act 2006,
section 382 and 465, a small scale enterprise is the one that has a turnover of less than 6.5
million pounds and employs less than 50 people. This report is based on Kirsty's which deals in
healthy ready to eat meals and ice creams. This project will give a brief idea about ways in which
the performance of company can be enhanced. Also, various concerning issues will be analysed
and measured so that effectiveness of organisation can be boosted.
TASK 1
1.1 Producing a profile of Kirsty's and its strengths and weakness
Kirsty's is a small business organisation which is offering healthy ready to eat meals to
customers. The company was established on 27th July 2009 with a former name of Worthenshaw.
Its primary goals were related to delivering higher quality products which are dairy-sugar free
frozen puddings to people who want a healthy alternative of ice creams (Altman, Sabato and
Wilson, 2010). As stated by Founder Kirsty Henshaw, that she perceived this business idea when
she found out that her son was allergic to nuts and intolerant against dairy as well as gluten. It is
also one of the organisation who has won funding from famous show Dragon Den. There has
been changes since its inception,k such as, rebranding of company to Kirsty's. They now have a
more diversified business offerings (kids, adult healthy ready to eat meals). The company is
focusing on providing more type of food items that would allow people in exploring taste while
keeping health as a priority.
Kirsty's has various methods of selling product from various sources in UK itself.
Recently, it has registered a improvement of more than 75% in the sell of their food meals via
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retail stores. The founder decision of diversification has allowed company in expanding at a
massive speed. From being at a point of default, it is one of the fastest growing small
organisation (Bellucci, Borisov and Zazzaro, 2010). On her blog, Kirsty Hensaw stated that
though, the company has changed its approach and offerings but the prime motive remains same
and that is to provide healthy meals to people.
Kirsty's has won various awards in last few years and one of them is from PETA for
being a Vegan food provider company award. Also it won Gold in Healthy food & drinks
awards. This is all due to Kirsty hard efforts of fulfilling her dreams. At present, 50% of
organisation is owned by owner herself, she owns 2012 shares while 90 ordinary shares are
owned by Micheal John Fraine. Also 770 shares are maintained by MJF investment and
Francesca Yardley (139).
The company is still thriving and delivering its products from online, super market, as
well as its own exclusive restaurants. They aim to assist people who do not have time to prepare
meals by selling them their ready to eat meals (Bridge and O'Neill, 2012). Also, it aids those who
are allergic towards nuts and other dairy items. There are certain strengths and weakness of a
company which is growing at a very high speed. They are as follows:
Strengths of Business Weakness of Kirsty
 Very diversified product offerings
 Fopcused on health and nutrition as per
the current trends
 Highly attractive investment point due
to its fame from dragon den show
 It is available in one of the major
markets.
 Company lacks market exposure
 There is higher level of competition in
the market.
 There are threat of innovations in
product offered by others.
 Lower level of market share growth due
to competition.
These are the issues that exists in the company at present and the strengths that enables it
in grabbing its opportunities in a proper manner.
1.2 Analysis of the business using comparative measures of performance
Kirsty's is a small ready to eat meal serving company which is focused on providing
higher quality of food to people. They have the capability to become a market leader but it
requires higher level of execution skills (Burns, 2010). The company presently have 48 people
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employed, who are divided into two different teams. The managers of organisation have the
responsibility of finding loopholes as well as fixing strategic path that will assist in achieving
goals. There are many competitors in market from well established companies, such as Purbeck
Ice creams (Carraher and Paridon, 2015). This is why it is very vital for organisation to analyse
performance and do things in an appropriate manner. The methods employed by company are: Quality audit: This is important as to make sure that every item that has been
manufactured fulfils the re4quirement of customers. This assist company in finding out
variances that exist in system. Basically, Kirsty's is serving in a field which is very
dynamic and requires precision to keep taste and nutrition at a perfect balance. Customer satisfaction: This is a method that allows managers in checking customer
satisfaction levels in a perfect manner. Every time a customer buys a product and
consumes it, his feedback is take regarding quality, taste and other aspects.
 Financial report: There are various reports that are prepared by accounts department of
company to make sure that each transaction is properly recorded and documented. These
are used as a tool to measure improvement in performance in a set period of time (Chell,
Nicolopoulou and Karataş-Özkan, 2010). Also, it allows individuals in informing
stakeholders regarding effectiveness of company. The financial report of Kirsty's is stated
below with a comparison with a competitor:
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As stated in the abbreviated balance sheet, Kirsty's is seen to register a higher level of
growth, though the debts are increasing but organisation have cash at bank to avoid any
uncertainty. At present, they are expanding rapidly and for doing so they require good amount of
funds which will assist it in making sure that each target is completed in a set period of time
(Cowling, Liu and Ledger, 2012). At the time of expansion, there is a higher level of burden on
company and it is managed by taking more funds from shareholders. It has few competitors, one
of them is Purbeck Ice Creams. It rivals this company in its core business of ice creams:
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As it can be seen that Purbeck Ice creams is far larger than Kirsty's but the company does
not have a effective level of offerings. The changes as well as growth in organisation is enabling
it to become far more engaged with consumers (Di Domenico and Miller, 2012). Kitrsty's is able
to grab the healthy ready to eat market while Purbeck is serving in one field which is dairy and
ice creams.
TASK 2
2.1 Recommendations and appropriate actions to overcome weaknesses
Kirsty's is not a old company in market like his competitors who have more than 2
decades of experience. But the company has been able to introduce a lot of innovation in the
market very frequently (Fassin, Van Rossem and Buelens, 2011). Also, it has received a good
level of consumer attention which good for increasing profitability. Though, there are certain
issues that are hampering organisation ability to serve market in an effective manner. Kirsty is
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completely focused on two segments which is to make ice creams, and second is to offer ready to
eat staple food meals. The organisation is trying to enter into new fields by making student meals
as well as products for fitness freaks (Goss, 2015). There are certain issues which are identified
as weakness in the businesses model:
Weakness in company with ways to sort it out:
 Company lacks market exposure: The organisation is still new for market and this is why
it does not have a proper market exposure. It is hindered by the limited serving area as
well as understanding of market forces. Also, it is serving through either exclusive
restaurants or major retailing centres. It has to contact small stores and other places to
cover more area.
 There is higher level of competition in the market: There are many companies who are
already serving into market and pose a threat to Kirsty's. The company has limited
resources due to level of competition that exist in market. It also has to keep on
introducing changes and innovation to its products so that it can keep consumers
attracted.
 There are threat of innovations in product offered by others: The competitors are
constantly innovating in their products and services which are possessing as a threat to
Kirsty's range of offerings (Gronum, Verreynne and Kastelle, 2012). The best way to
overcome this threat is to innovate more.
 Lower level of market share growth due to competition: This is the biggest issue that is
there due to competition. At present, the company has to capture more market share
which is very difficult as there are many competitors in the market. It has to develop right
strategies which will enable it in ensuring that each task is completed in a set period of
time.
Kirsty is considered to be one of the most dynamic and successful business that has been
established in last 10 years. It has been awarded by many organisation for its approach to market
and type of products that are offered by it to people. But to be successful, it has to stay focused
and use strategic approach to gain more in market.
2.2 Ways by which current performance can be maintained and strengthened
It is very vital for organisations to maintain their performance levels so that they can
achieve their goals and objectives in a effective way (Jones and Iredale, 2010). There are
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different methods that have to be employed by company for making sure that each task is
completed in a set period. The organisation has to focus on its core values as to ensure that it
achieves its sustainable goals. Kirsty is known to provide products that are based on
nutritiousness and health (Lambert and Davidson, 2013). Also the products of company are
available in all major super markets. Though the organisation has registered a higher growth rate
in the market which is not sufficient to become one of the market leaders. There are various
changes that has to be adopted by organisation for making sure that each task is completed in an
efficient way.
Today, customers are also very much aware of things that makes a food unhealthy for
consumption so it is vital for them to ensure that each product type is prepared as per the best
quality. There are few areas on which company needs to focus for making sure that there are
improvement in the performance:
 Customer preferences: This is the prime task that the marketing department has. They
keep on analysing consumers preference as to identify demands and requirements of the
end user. This will also assist in making sure that each change is based on the trend which
is an opportunity to exploit.
 Team building and working: This is known as a working which assist in completing task
in a highly effective manner. It is a group which is made up of many specialised
individuals who as per requirement fulfil their task to complete a job in a more efficient
way. This assist managers in boosting the performance of individuals as they are able to
share their idea's and thoughts which provides a more efficient way to complete a task.
 Market trends analysis: This is a vital step that allows managers in understanding changes
that are taking place in market. At present, Kirsty's top management has to conduct trend
analysis so that it can identify factors that can hamper its ability to achieve its goals in
future (Malhotra and Temponi, 2010). This will assist them in boosting flexibility and
adaptability in company.
 Quality of goods: In food sector it is very essential to maintain quality of goods and
services. This allows them in differentiating themselves from all other participants.
Higher quality of products and services will ensure better level of customer satisfaction.
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2.3 New area's in which company can expand
There are certain areas in which company can easily expand and this will allow it in
growing into its scope. Kirsty has to focus on expansion of its market share for long term
survivability. They have a very loyal consumer base which is either health conscious or allergic
to certain type of dairy products (Rae, 2010). This base will assist organisation in attaining a
better expansion rate and support.
At present their food is based on four concept:
 Items are completely gluten, wheat and dairy free.
 Meals are nutritionally balanced.
 Taste is utmost maintained
 It has a lot low calorie count per meal.
These are the aspects which are considered before preparing any product or
manufacturing any item and delivering it to consumer. They are the very core-values that are
possessed by organisation. Kirsty's also need to focus on other section is that it can serve (Ratten,
2014). There are certain fields as well as recommendation to serve more market area and gain
higher level of market share: Diversification: This is the best way it can achieve better market flexibility. Basically, by
diversifying, the company wont be reliant on a ice cream or staple food sales only. It has
to target more sectors, such as health, fitness, etc. This will increase the market area that
is covered by company. It can also enter into serving hospitals as well as military with a
specified meal plan. This is very easy for company as they will be able to increase the
shelf quantity with quality. Domestic coverage: There are areas which area still out of reach for organisation. The
company has top ensure that it covers each part successfully so that each task is
completed in as set period of time (Sharma, Chrisman and Gersick, 2012). It can target
small retailers who are there in rural parts of country. Also, contracting with bakeries and
schools will allow them in gaining better and constant earnings.
 Improvement in production lines: There are certain changes that will be introduced in
the production lines as to make sure that they are more efficient and effective. Basically,
there is requirement of making the manufacturing/preparation cost so that margin of
profits can be increased.
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Kirsty's will be boosting market share of company by using two stated methods to grow
market share. It do not have a reach to educational institutes which can be primary source of
earning for company (Southern, 2011). Also, company has to make sure that it stay focused on
its core products while diversifying and does on violate the very reason for which it was
established.
TASK 3
3.1 Give your assessment on existing business objectives and plans
The company has to keep on adapting and integrating required changes so that decision
making can be improved. For doing so, the managers have to implement a set of strategies and
standards so that task can be completed on time. Setting objectives and goals are the best way to
analyse and evaluate level of achievement achieved by people. There are certain objectives of
organisation which are there:
 The first objective is stated to be being polite as well as responsive to all the enquiries
that are made by customers.
 Facilitating employees with a good environment and ensuring that all the requirements
are fulfilled to keep them satisfied.
 Serving consumers with higher quality of services.
 Implementing various legislations for standardising environment.
 Ensuring a safe environment to people at their workplace.
 Following the statement of vision.
 Implementing changes as identified by analysis and evaluation.
There are certain objectives that need to be followed by company and its people for
makings sure that each target is properly attained (Stokes, Wilson and Wilson, 2010). The
organisation also is highly dedicated and capable of producing better results. They need to focus
on ensuring that they are serving people with higher level of quality products and services. There
are major changes that will be taking place in the system as well as environment. It has to be
managed by proper policy integration and implementation. One of the product of company is
Kids kitchen, which has proven to be one of the best dishes. Also, there is requirement of
changing approach to more innovative side as to serve consumers in a more effective manner.
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3.2 Review business plans and suggest areas where changes can be made
Business plan of a company is prepared as to set a path that will allow people in
following a path that will lead to better level of productivity. Effectiveness of this plan will lead
to organisational failures or success. It basically stated about various activities which will be
conducted in a set period of time (Storey, 2016). The whole business plan is developed on the
basis of organisation past performance and various other aspects. This is why it is very important
for company to make sure that each task is complete in a set period of time. It covers all the
strengths and weakness of company that exists. These two stated aspects allows organisation in
making plans for future. All the changes that are mentioned in business plan has to be
implemented as per requirements.
The business plan will be prepared after a brief analysis of all the factors that are in
existence. Basically, all the aspects have to evaluated such as information regarding trends,
customer satisfaction, competition, etc. the organisation has to formulate a business plan once
and introduce changes with shifts in time and dynamics of market. There are certain steps which
are followed by Kristy's in making business plan and reviewing all other aspects:
 Updating goals and objectives: There are certain changes that has to be adopted by
organisation for making sure that it is able to integrate as well as implement them for
improving its own abilities (Van Der Wijst, 2012). There will be slight changes in goals
and objectives of the company:
◦ Goals: These are the long term targets that has to be achieved by company by
expansion in market share and innovation. For Kirsty, as per recommended changes
the company will 'Seek higher level of expansion and market share by improving
domestic presence with the aid of diversification'.
◦ Objectives: The company will set certain objectives such as contracting sellers as well
as hotels to sell their products and services. Also, there is requirement of improving
efficiency by 3%.
 Analysis of plan: There is requirement of evaluation so as to remove various loopholes
that exist in the market plans. As stated in recommendation, it is important for company
to focus on substantive growth rate instead of organic rate. Basically, they need to
introduce interactive approach towards market so that each change is analysed and
managed as per requirements.
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 Reallocation of resources: All the factors of production are divided in various activities
and they basically need to re-locate them to manage required changes appropriately. All
the stated changes will allow managers in ensuring that each task is completed and
supported in a proper manner (Di Domenico and Miller, 2012). In Kristy's, all the
changes will be analysed and required resources will be moved towards it.
 Following up: The management of Kristy has to ensure that each changes is properly
implemented and managed. Basically, they need to keep on analysing various aspects so
that all activities are properly completed and in a timely manner.
Kirsty's need to make sure that each changes is properly made after a brief marketing
research is conducted. There are certain activities as well as resources that have to protected and
preserved.
3.3 Prepare an action plan to implement the changes
There is requirement of action plan, as to prepare organization for any potential
contingency. There are various changes which are being introduced in the company and to
manage and implement these changes in a effective manner, there is a need of a contingency
plan. If all the recommendations do not deliver right level of returns than action plan will be used
to stop organisation productivity from getting hampered.
Basically, the action plan will provide higher level of protection from any contingency
that might take place in the organisation (Fassin, Van Rossem and Buelens, 2011). It allows
more space for delegation of authority to various managerial levels present in Kirsty's. The
marketing department of company need to conduct market research for making sure that all
changes taking place in external environment re adjusted in business plans. There are different
types of sources which are used for collecting data regarding external sources, such as, internet,
books, journals, government reports, etc. Also, a primary research can be conducted to find out
about needed changes. The action plan for Kirsty will be conducted in the following way:
 Identification of different activities/changes: The recommended changes are
diversification and increasing coverage area. Listing out various pros and cons of each change:
Pros
 It will assist in increasing market share
Cons
 It will be increasing cost of company
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 Aid in growth and development Putting company in a better market
position.
 Burden on finances
 Increase in workload
 Employees morale
 Starting current action: Changes will be implemented by following organisation structure
which is flat at present and with a matrix approach.
 Preparation of list of various task as per priority: A priority list will be made for making
sure each task is completed in set time period.
 Assigning time to each activity: Time will be given to each activity so tat it is completed
in a set time.
 Follow up: Various tools will be used for analysing variances and improvement in
performance of individuals.
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TASK 4
4.1 Impact of proposed changes on business and its personnel
There are different impact on organisation because of changes that have been introduced
for improving performance of organisation in market. It basically depends on the management so
that desired outcome can be attained. If Kirsty wants to achieve success in future than they will
have to integrate as well as adopt changes effectively (Goss, 2015). There are both type of
changes present in the environment which are controllable as well as uncontrollable. Basically
they have to be managed by changes in rules and polices and in a case of maximum issue,
business plan will be changed. But these modification have a major influence upon company as
well as its personnels. They are stated below:
 Workload of people: The work pressure will increase with the changes. There are various
issues which will be implemented as well as executed by the management. They are
already engaged in different task which will increase due to diversification.
 Financial condition: Every activity needs finance and they have to be managed by the
management in a proper manner so there is no scarcity. With the introduction of
modification, the company will have to increase funding as well as finance more
activities as to complete task in set period of time and gain forecasted results.
 Morale: The motivation level of people will increase with time and it will have to be
analysed as well as boosted by providing various performance incentives as well as
rewards.
4.2 Management of proposed changes in business
Generally micro companies do no accept changes due to high risk factor. Strict control
should be done and monitoring on a regular basis for managing these modification (Gronum,
Verreynne and Kastelle, 2012). Small organisation like Kirsty's food products has less number
for financial resources but it is highly essential of having appropriate plan and dynamic
environment for changes in order to bring success and profitability. Proper action should be
taken for managing these modifications effectively and efficiently but for better outcomes it
should be reviewed time to time so that alteration can be done as per requirement.
New modification will evaluate new dimensions for Kirsty's packed meal which will
make company to run on right path of success. Currently, area of this enterprise has been
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expanded by providing goods and services via super market but if we talk about an international
market where they are planning to sell their merchandise via supermarket then it will increase
financial burden which needs to be managed effectively. There are several things which need to
checked before making any changes, firstly it should research on potential of market that how
will it be captured by offering better quality products (Jones and Iredale, 2010). A firm should
hire a new marketing team who should have skills and along with that sound knowledge and
expertise in marketing area so that they can deal with Kirsty's packed food product line at
international level in an effective and efficient manner for getting success in Market.
Organisation should adopt new several media channel for its activities which will aware
about company and its product for proper management of modification. This media and tracking
assists in collecting proper knowledge of impact of these alteration which firms want to
introduce and also evaluates its performance more effectively and efficiently in accurate manner.
4.3 Measurement of improvements in the business over past two years
From past two decades, it has been observed that Kirsty's Ice cream sales has been
improved by selling their products via different whole sellers and also rate of profitability
improves due to market approach shifting (Di Domenico and Miller, 2012). For proper analysis
of improvement in business, Kirsty's firm should use trend line analysis by which growth of
enterprise can be understood easily.
After applying these modifications, it is important for a company to identify its
performance on a regular basis so the exact impact of changes can be known whether its
successful or failure. After monitoring the results of changes , if company lacks as per
expectation then it should take appropriate actions to correct and change where it lacks to attain
better results.
For formulating these changes in the entire system, Kirsty's packed healthy food is using
change management theory given by Lewin (Fassin, Van Rossem and Buelens, 2011). It ensures
that this alteration will make system more strong and powerful. This model has been applied in
following ways:
 Unfreeze: Its starts by unfreezing old process so that adoption of new procedure and new
changes can be observed in entire system.
 Transition: At this phase, changes are done according to the company's desire.
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 Freeze: After deciding new process or procedure, it is freeze again in order to produce
certain target.
CONCLUSION
There are various changes that have to managed by individuals who are working in small
companies. These micro level firms face intense level of pressure as well as competition from
other organisations. Also changes in legislations have a major impact upon their working
capabilities. In this report it is analysed as how Kristy will be managing different task and issues
effectively and ways in which changes will be introduced. Also, the issues which will be there
with scarcity of resources and people are covered in this report. There are certain
recommendations which needs to be adopted for better results in future.
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