(Solved) Small Business Enterprise– Assignment
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Added on 2019-12-18
(Solved) Small Business Enterprise– Assignment
Added on 2019-12-18
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ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1Produce a profile of a selected small business identifying its strengths and weaknesses......31.2 Carry out an analysis of the business using comparative measures of performance.............4TASK 2............................................................................................................................................42.1Appropriate action to overcome the identified weakness in business....................................42.2ways in which existing performance could be maintained and strengthened.........................52.3 Recommend with justification, new areas in which the business could be expanded...........5TASK 3............................................................................................................................................63.1 Assessment of Austin Fraser's business objectives and plans...............................................63.2 Review of business plans to make changes...........................................................................73.3Action plan to implement the changes....................................................................................7TASK 4............................................................................................................................................84.1 Impact of changes on the business and personnel.................................................................84.2 Management of changes in the business................................................................................94.3 Improvement in the performance of the business over a time...............................................9CONCLUSION..............................................................................................................................10References......................................................................................................................................11
INTRODUCTIONThe business environment having a large impact on the all types of business units such assmall, medium and large. This report is based on the small business organisation is located in theUnited Kingdom. Austin Fraser is a small business enterprise which deals in the recruitingemployees for the other organisations (Berger, and Frame, 2007). They supply high quality staffto their clients in a effective manner. The purpose of this report is to determine the significanceof SME in the economic growth and development. TASK 11.1Produce a profile of a selected small business identifying its strengths and weaknessesAustin Fraser is a recruitment business organisation in UK. This firm is expertise in therecruitment, selection and interview process and provide qualified staff to their clients. Thebrand image of this company is growing which can provide a good opportunities for growth anddevelopment. This firm also provide training and development to the selected staff so that theycan provide skilled and talented staff in a effective manner. The deals in the variety of fields suchas marketing, accounting, finance, HR, information technology and so on. The nature of thebusiness is staff placement agency and other HR activities (Bridge, and O'Neill, 2012). Theorganisational structure of th cited business entity is quite simple which can help to increaseefficiency and productivity of their business operations. Once the recruitment and selectionprocedure is done they also help to provide assistance and services in to the client salarystructure, market trends and other aspects of the business. Therefore, the manager of the citedbusiness organisation is required to analyses their internal and external environment so that theycan provide a future strategies for their business in a effective manner. The strength of thisbusiness firm is that they have large number of corporate clients which belongs to domestic andinternational business units. The firm financial position is strong as compare to other units inSME sectors (Burns, 2010). The firm also provide effective training and developmentprogrammes which can provide competitive advantages in the market. The client satisfactionlevel is too high which can create a ideal image in the market. The growth rate of this company isquite good in the United Kingdom. The weaknesses of the company is that they havingmismanagement in the operational activities which can increase cost of operation.
1.2 Carry out an analysis of the business using comparative measures of performancePerformance played a vital role in the success for each and every business organisation.The analyses of financial data and information of the Austin Fraser is shows that there economicposition is too good as compare to last year. They having enough financial resources so that theyare able to pay their short term liabilities without selling their assets. The rate of return is alsoquite impressive which can help to attract large number of investors in to their business (Ciampiand Gordini, 2013.). Their current assets are more than current liabilities which can also a goodsituation for the company. In the same industry there are large number of business units can befailed due to financial performance. They client are too satisfied with the services of the citedbusiness organisation which can help to increase customer loyalty. They also focused on theirpromotional activities. There are various promotional activities such as electronic media, printmedia and social media. But they are using cost effective methods in order to promote theirservices in a effective manner. Austin Fraser can be sued social media such as Facebook,Instagram, You Tube for promotion. Apart from that they also taking ideas from marketingexperts in order to promote firms products and services (Goss, 2015). The cited business unitoperational capabilities are quite limited and they only having few branches in the UK.Therefore, the higher authorities of the company are required to expand their business in to otherparts of the world which can provide more opportunities for consistent growth and development. TASK 22.1Appropriate action to overcome the identified weakness in businessWeakness and strength should be known by the people of the organization so that they canbe able to make the appropriate changes according to that strength of the business is verymuch plus point for the organization but if the organization recognize its weakness and try tosolve them then it can become more beneficial for the organization(Bridge and O'Neill.,2012). so it is good to identify the their weakness as before as possible and make thempositive for the organization. the weakness and the strength can be analyzed by the SWOTanalysis: the business can face many types of weakness like, lack of experiences the lack ofknowledge and the experience of the people working in the organization matters it will notmake the organization better if they will not be much experienced or they don't have properknowledge of the work they got, poor business location and lack of resource available these
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