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Research on Small Business Enterprise - UK

   

Added on  2020-06-05

19 Pages5986 Words31 Views
Small Business Enterprise

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Producing a profile of Kirsty's and its strengths and weakness............................................11.2 Analysis of the business using comparative measures of performance................................2TASK 2............................................................................................................................................52.1 Recommendations and appropriate actions to overcome weaknesses..................................52.2 Ways by which current performance can be maintained and strengthened..........................62.3 New area's in which company can expand............................................................................8TASK 3 ...........................................................................................................................................93.1 Give your assessment on existing business objectives and plans.........................................93.2 Review business plans and suggest areas where changes can be made..............................103.3 Prepare an action plan to implement the changes...............................................................11TASK 4..........................................................................................................................................134.1 Impact of proposed changes on business and its personnel................................................134.2 Management of proposed changes in business...................................................................134.3 Measurement of improvements in the business over past two years..................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16

INTRODUCTIONThe development of small business enterprise is very vital for any economy in today'sera. For every country in this world, it is very important to ensure that these small companies areable to attain a higher level of productivity in the GDP. The main purpose behind boosting theseorganisations is that they assist society in growing at a much faster speed. It aids in enhancing afinancial condition of a country while also improving flow of cash. They are also considered tobe a prime source of job generation. These are the reasons because of which United Kingdomgovernment in investing a lot of resources into the development of these companies (Ackermannand Audretsch, 2013). Small business enterprises are the one which allowed UK economy to staysecured 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 6.5million pounds and employs less than 50 people. This report is based on Kirsty's which deals inhealthy ready to eat meals and ice creams. This project will give a brief idea about ways in whichthe performance of company can be enhanced. Also, various concerning issues will be analysedand measured so that effectiveness of organisation can be boosted. TASK 11.1 Producing a profile of Kirsty's and its strengths and weaknessKirsty's is a small business organisation which is offering healthy ready to eat meals tocustomers. 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 freefrozen puddings to people who want a healthy alternative of ice creams (Altman, Sabato andWilson, 2010). As stated by Founder Kirsty Henshaw, that she perceived this business idea whenshe found out that her son was allergic to nuts and intolerant against dairy as well as gluten. It isalso one of the organisation who has won funding from famous show Dragon Den. There hasbeen changes since its inception,k such as, rebranding of company to Kirsty's. They now have amore diversified business offerings (kids, adult healthy ready to eat meals). The company isfocusing on providing more type of food items that would allow people in exploring taste whilekeeping 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 via1

retail stores. The founder decision of diversification has allowed company in expanding at amassive speed. From being at a point of default, it is one of the fastest growing smallorganisation (Bellucci, Borisov and Zazzaro, 2010). On her blog, Kirsty Hensaw stated thatthough, the company has changed its approach and offerings but the prime motive remains sameand 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 forbeing a Vegan food provider company award. Also it won Gold in Healthy food & drinksawards. This is all due to Kirsty hard efforts of fulfilling her dreams. At present, 50% oforganisation is owned by owner herself, she owns 2012 shares while 90 ordinary shares areowned by Micheal John Fraine. Also 770 shares are maintained by MJF investment andFrancesca Yardley (139). The company is still thriving and delivering its products from online, super market, aswell as its own exclusive restaurants. They aim to assist people who do not have time to preparemeals by selling them their ready to eat meals (Bridge and O'Neill, 2012). Also, it aids those whoare allergic towards nuts and other dairy items. There are certain strengths and weakness of acompany which is growing at a very high speed. They are as follows:Strengths of BusinessWeakness of KirstyVery diversified product offeringsFopcused on health and nutrition as perthe current trendsHighly attractive investment point dueto its fame from dragon den showIt is available in one of the majormarkets. Company lacks market exposureThere is higher level of competition inthe market.There are threat of innovations inproduct offered by others. Lower level of market share growth dueto competition.These are the issues that exists in the company at present and the strengths that enables itin grabbing its opportunities in a proper manner. 1.2 Analysis of the business using comparative measures of performanceKirsty's is a small ready to eat meal serving company which is focused on providinghigher quality of food to people. They have the capability to become a market leader but itrequires higher level of execution skills (Burns, 2010). The company presently have 48 peopleemployed, who are divided into two different teams. The managers of organisation have the2

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