Small Business Growth Strategies

This assignment delves into the key factors contributing to the success of small and medium-sized enterprises (SMEs). It examines the importance of developing robust IT skills within SMEs, leveraging external training programs for employees, and implementing effective strategies for business expansion. The analysis draws upon various academic sources and real-world examples to illustrate best practices in entrepreneurial development and growth.

SMALL BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION...........................................................................................................................1
1.1 Profile of small business enterprise to identify its strength and weaknesses........................1
1.2 Analysis using for comparative measurement of the performance.......................................3
TASK 2............................................................................................................................................4
2.1 Actions to overcome the weaknesses....................................................................................4
2.2 Ways to maintained existing performance............................................................................6
2.3 New areas to expand the business.........................................................................................7
TASK 3............................................................................................................................................8
3.1 Assessment of existing objectives and plans of the organisation.........................................8
3.2 Business plan to incorporate changes...................................................................................9
3.3 Action plan for implementing the changes.........................................................................10
TASK 4..........................................................................................................................................11
4.1 Impact of proposed changes on business and personnels...................................................11
4.2 Plan to maintained changes in the enterprise......................................................................12
4.3 Monitoring the improvement of business performance as per time-scale..........................13
CONCLUSION..............................................................................................................................14
REFERENCES................................................................................................................................1

Illustration Index
Illustration 1: Qbic hotel..................................................................................................................1
Illustration 2: Strength and weaknesses...........................................................................................3
Illustration 3: Employee training.....................................................................................................5
Illustration 4: Business expansion...................................................................................................8

INTRODUCTION
Small business enterprise play very important role in successful outcomes of the country.
This is because, it provides employment opportunities within the country that make effective
functioning in the nation. Major contribution in national income determines through small
business enterprise so that it is the major development that provided through company (Glover
and Kusterer, 2016). In this context, present report based on Qbic hotel which is hospitality
industry and provide different types of services. It includes accommodation, products, services,
etc. Therefore, they taking important part for economic growth in the nation. For gaining insight
knowledge of the company, present report covers comparative measurement of the performances
to develop effective results in business. Furthermore, it includes ways through enterprise will
able to maintained their strengthened. Moreover, it demonstrates action plan to implement
changes in business. In addition to this, it includes monitoring on improvements of the business
performance as per time frame.
1.1 Profile of small business enterprise to identify its strength and weaknesses
Qbic hotel is small busines of UK market which provide different types of services in
international and local areas as well. In this aspect, they can easily deal in international market
through delivering qualitative and quantitative elements (Wynarczyk, Piperopoulos and
1
Illustration 1: Qbic hotel
Source: (Qbic Hotel London Development Update, 2017)

McAdam, 2013). With this regard, planning and direction decisions assists to develop effective
function to focus on the business problems. They are determining creative ideas to enhance
opportunities in market. Hotel located at Aldgate East and Tube stations. Therefore, connection
are made in the city of metropolitan lines to cater effective results (Jo and Henry, 2015).
Following strength and weaknesses of Qbic hotel determines effective decisions in the
organisation:
Strengths: Within the selected business unit, there are several strengths exists that helps
to accomplish goals and objectives through making sustainability as well. It includes following
strengths at workplace regarding Qbic hotel:
 Qbic hotel requires ability to create effective functions and operations that assists to make
positive functioning.
 The organisation has effective competitive advantages through their profits and revenue
will be enhances in several areas of the world (Smith and Barrett, 2016).
 The selected business unit has also opportunity to create better working environment that
impact positively on customers.
 Goodwill of the company is very high so that it is another important strength that make
effective functioning in the organisation to enhances sales and profits.
Weaknesses: Weaknesses demonstrates limitations which create negative impact on the
organisation (Boyer and Blazy, 2014). Following are certain limitations to the Qbic hotel that
impact negatively on their outcomes:
 High rent at workplace create negative impact on the business operations and functions.
Therefore, it creates high expenses on the buyer which reduces preferences as well.
 Less quality food products of Qbic hotel create impact on the firm and its target.
Therefore, the business will unable to compete with other same businesses as well.
 Time management of the company is also creates negative impact on the functions and
operations of the selected enterprise (Duberley and Carrigan, 2013).
 Due to less customer preferences, the selected enterprise unable to deliver qualitative
products and services. As results, it is another limitation that impact negatively on the
performances and objectives.
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1.2 Analysis using for comparative measurement of the performance
At workplace of Qbic hotel, there are several types of resources available that assists to
measure performance in effective manner. With this regard, the chosen organisation use
comparative measurement that is important tool to identify outcomes of the company in effective
manner (Acs, Audretsch and Lehmann, 2013). Therefore, following elements can be included
that assists to measure business performances:
 Financial statements of the enterprise: In this aspect, the chosen organisation need to
measure performances through assessing financial abilities. With this regard, balance
sheet and other statements need to be measure so that there are several things included
that assists to identify investment, profits and cash flow (Peredo and Chrisman, 2017). It
assists to develop liquidity position in business enterprise.
 Ratio analysis: With this regard, Qbic hotel has responsibilities to assess liquidity
position through assess performances as well. It helps to develop liquidity position of the
company to accomplish goals and objectives. It is the best strategy through business can
enhance their profits and revenue at workplace (Thomä and Bizer, 2013). In addition to
this, it also includes comparison of present year data with past records. In addition to this,
3
Illustration 2: Strength and weaknesses
Source: (Strength and weaknesses, 2017)

the chosen company can also implement comparison of Qbic hotel and another
enterprise.
 Customer feedbacks: Customer feedback is the another important parameter that assists
to accomplish goals and objectives in business environment. With this regard, satisfaction
level of customers need to be identified to provide several products and services (Henry,
Rushton and Baillie, 2016). When customers are satisfied, performances and services will
be enhance in different areas. Hence, survey will be conducted to measure operations that
help to identify actual demand of particular products in Qbic hotel.
 Graphic rating scales: It is the ideal method to assess production and oriented work
environment (Wright, Chrisman and Steier, 2014). In this way, Qbic hotel require doing
rate on the performances standards of and scale on employees. Therefore, this method
ensure performance require preparation to check workforce management duty.
TASK 2
2.1 Actions to overcome the weaknesses
With this regard, effective functioning develops in small business enterprise to operate
effective functions and operations in the market. There are several difficulties occurs at
workplace that impact negatively on the business functions of Qbic hotel. Because of less skilled
employees, the chosen organisation unable to develop their operations and functions in
significant manner (Pollack and Adler, 2016). In addition to this, employees also feel difficulties
to handle queries of customers regarding satisfaction level. Due to poor communication among
managers and people, there are several issues take place that impact negatively on the operations.
Hence, the selected business unit need to take following actions to develop their outcomes. Proper and effective management: In this way, Qbic hotel has responsibilities to take
actions to manage their work performances. In order to manage business operations and
identify issues that assists to resolve problems as well (Laing, Hooker and Schuler, 2016).
Therefore, upgrade latest technology need to be implemented for developing proper
working environment in the business. Create new segmentation in the global areas: Further, Qbic hotel also need to overcome
their problem through creating effective segmentation. In this way, several types of
services could be develop in target market that assists to overcome issues and problem of
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the company. As per the customer requirement in new areas, the organisation need to
develop their operations and functions. As per the segment on age and gender basis,
opportunities will be enhance that assists to make profitable outcomes (Bozkurt and Esen,
2014).
 Provide proper training to employees: Due to less skilled members, Qbic hotel unable to
deliver effective results in business. Hence, they have to provide proper training to them
as per their requirement. It assists to make effective results in business through overcome
issues of employees. Proper training to employees assists to make effective products and
services in the business (Daryanto, Khan and Chakrabarti, 2013).
 Effective and proper communication: Effective communication is the another important
aspect that assists to develop targets and goals in significant manner. In this aspect, Qbic
hotel has responsibility to implement proper attention towards the objectives and goals. It
will help to develop proper communication with customers to create positive
environment (Thompson and Kwong, 2016).
5
Illustration 3: Employee training
Source: (Advantages to external training for employees, 2017)

 Effective plan of management: Along with this, effective plan also need to be carry that
assists to identify issues in business. In this way, targets ans goals will be accomplish
through perform several tasks in a team. As per the roles and responsibilities, employees
qualification will be assess (Acs, Audretsch and Lehmann, 2013). It impacts positively on
Qbic and they will never fail to operate effective functioning in business.
 Conduct market research: In this aspect, the chosen organisation has responsibilities to
develop market research through goals and objectives can be accomplish in systematic
aspect. It is the best way through customer requirements could be measure by Qbic hotel.
Therefore, they can implement products and services according to customer requirement
that assists to meet with goals and objectives as well (Wynarczyk, Piperopoulos and
McAdam, 2013).
2.2 Ways to maintained existing performance
With regard to grow outcomes and performances in positive manner, the enterprise has
responsibility to maintained their changes and strengthen for ascertain more profits and revenue.
There are different types of products and services will be implemented that assists to increase
profitability in business. Changes could be implemented to accomplish targets in significant
manner (Henry, Rushton and Baillie, 2016). Therefore, rules and policies can be developing that
create high growth in future for measurement of the business. In order to maintained and
measurement the existing performances, following methods can be implemented at workplace of
Qbic hotel:
Continuous evaluation: In this aspect, strength of the enterprise maintained through
continuous evaluating the performances. With this regard, 360 degree evaluation strategy need to
be implied in the chosen organisation. It is the important and best strategy that assists to work in
effective manner (Thomä and Bizer, 2013). In this way, working environment need to be assess
to attempt future goals and objectives. Therefore, targets will be accomplish in Qbic hotel.
Feedback from the customers: As per the feedback of customers, the enterprise need to
implement techniques and tools that assists to maintained strengthen. In this regard, Qbic hotel
can easily develop their performances as per customer needs and requirement. Every member of
the business will contribute important participation to make positive review and opinion for
business work. As per these parameters, performance could be maintained (Peredo and
Chrisman, 2017).
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Employee motivation: Employee motivation is the another important strategy that make
successful results in business. It is the important aspect that can be support to goals and
objectives of the business (Smith and Barrett, 2016). As per the employees activities and actions,
fundamental outcomes will be develops that assists to enhance Qbic hotel performances. For
instance, financial and non financial rewards which known as bonus, monetary benefits, etc.
Forced ranking: In this aspect, the chosen organisation need to determine force ranking
that need to be developed on the employee performances. In this aspect, Qbic hotel has
responsibilities to measure their employee achievement among several people. In order t6o
compare current evaluation period against past performances. In this way, forced ranking lend to
create competitive working environment in the business unit (Laing, Hooker and Schuler, 2016).
2.3 New areas to expand the business
With respect to expand business operations and outcomes, Qbic hotel require implement
operations and functions in new areas. In this aspect, effective results will be made to create
effective functioning at workplace. Below are certain strategies explains that assists to expand
operations in new areas:
 Adding new products and services: It is the best strategy that adopted by selected
business unit to face challenges with sound strategy. It is the simplest way that assist to
face many issues and challenges which take place in Qbic hotel. With the help of survey
from customer, the chosen organisation can easily implement new products and services.
Market research also need to be conducted for new products and services (Daryanto,
Khan and Chakrabarti, 2013).
 Selling more products and services to existing customers: In order to penetrate the
market deeper than the customer requirement, Qbic hotel analysis that it is the best way
to perform segmentation to know about the products and services of the company. As per
the different characteristic, the organisation can divide their customers in business such
as age, gender, etc. (Wynarczyk, Piperopoulos and McAdam, 2013).
 Expansion in new territories: Main objectives and aim of the enterprise is to selling
existing products and services to new customers. Therefore, they are able to deliver
effective results in products and services. These types of new customer belong to the
several segmentations and location where the organisation operate in today's time (Henry,
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Rushton and Baillie, 2016). In this aspect, Qbic hotel has responsibilities to make
effective advertisement for the products and services.
 Target in the new customer market: In this way, most of the businesses also target to
customers through implementing marketing efforts in specific customer market
(Wynarczyk, Piperopoulos and McAdam, 2013). Demographic elements can be
implemented such as age, gender, location etc. in addition to this, it also helps to supply
as per the psycho graphic aspects such as interest, values and activities as well.
TASK 3
3.1 Assessment of existing objectives and plans of the organisation
With this aspect, development of functions and operations need to be implemented in
objectives and plans that make successful results in business. Future plan of the Qbic hotel has
been develops with implementation of policies and practices. In this way, to make improvement
selected business has responsibilities to gain high market share because main aim is to provide
8
Illustration 4: Business expansion
Source: (5 Things to Consider Before Expanding Your Business, 2017)

proper guidance to all people to accomplish growth at workplace (Laing, Hooker and Schuler,
2016). As results, following activities implemented to achieve high growth:
 Structure of the business plan: In this element, Qbic hotel require create effective
structure with plan which not harm to any actions of the business unit. Therefore, plan
has to be made with certain activities in systematic aspect. Structure require make
changes that take place according to flexibility of business to make decisions (Acs,
Audretsch and Lehmann, 2013).
 Assessment to the objectives of business: In addition to this, the chosen organisation
need to develop maintenance of aims and objectives to assess business performances.
With this regard, Qbic hotel need to identify their balance sheet, sales, profits, etc. Report
also identify continuing within the market that assists to develop effective functioning in
business (Peredo and Chrisman, 2017). In order to make changes in business, current and
future performances will be developed in systematic aspect. In order to assess
performances evaluation, business require implement changes in products and services.
 Changes in objectives: In respect to make changes in goals and objectives, Qbic hotel
has responsibilities to develop their target market in systematic aspect. It is the best way
through the organisation can monitor their development in effective way. Therefore,
profitability will be grow to ascertain outcomes. Changes can also implemented for the
development of business, their targets and objectives as well (Smith and Barrett, 2016).
 Identify impact of changes on business performances: It is another effective tool that
assists to measure changes in business. Therefore, Qbic hotel will easily demonstrate and
formulate policies in the chosen business. It is the best way to implement more profits
and revenue in business unit.
3.2 Business plan to incorporate changes
In this aspect, the chosen organisation fail to accomplish their targets and attain effective
results. This is because, Qbic hotel not effectively dealing with their customers and their
technology is very poor so that it impact negatively on the operations and functions (Wynarczyk,
Piperopoulos and McAdam, 2013). As per the changes in customer demand and requirement,
performances will be evaluated with revising plan in respect to make changes in following
aspect:
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 Implement new and advance technology: In this aspect, Qbic hotel has responsibility to
make changes in technology that assists to meet with goals and targets. With this regard,
the organisation need to make their targets with implementing advance technology that
assists to meet with goals and objectives to enhance customer base. It assists to deliver
quick services in business that create effective functioning for achieve desired results.
 Evaluate business performances: With this regard, Qbic hotel need to evaluate
performances with developing plan. It includes measurement of the objectives and goals.
It continuously develops monitoring to identify that work is done or not. Hence,
operations enhances through focusing on goals and objectives (Wynarczyk, Piperopoulos
and McAdam, 2013).
 Make changes in budgeting: With this aspect, the selected business has responsibilities
to make proper changes in budget to accomplish business goals and objectives. In this
way, customer requirement can be assesses that assists to meet with changes to maintain
performances.
 Forecasting: In the evaluation process, future growth will be forecast through important
sources to ascertain targets. It is the important strategy in which Qbic hotel will easily
increase their profits and revenue that create growth as well. Plan can be made for future
forecasting (Thomä and Bizer, 2013).
 Market trend: In this aspect, the chosen organisation need to determines changes that
are take place in market. Therefore, they have to operate their functions and operations in
this aspect. It is the best strategy that assists to make effective functioning as well. Qbic
hotel, also need to develop their functions and operations in market as per the business
requirement (Daryanto, Khan and Chakrabarti, 2013).
3.3 Action plan for implementing the changes
In order to make effective action plan, Qbic hotel can easily accomplish their goals and
objectives for future development. In this aspect, the organisation need to understand several
things that assists to develop outcomes at priority level. With this regard, priorities can be
accomplish through reach towards the goals and objectives. Action plan started with making list
of the goals and objectives that are important to set future targets in several steps. In order to
implement responsibilities, firstly market research need to be conducted so that goals will be
accomplish (Acs, Audretsch and Lehmann, 2013).
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It also involves information collection regarding operations as well. In this way, second
step consists for gathering relevant information that assists to perform several functions and
operations. At last, Qbic hotel will easily implement activities of social media to collect relevant
information. In each activity, time-scale also need to be set to done different tasks through assign
roles and responsibilities for existing people (Smith and Barrett, 2016). As per the results, the
chosen organisation will select and recruit employees in significant manner:
Action plan that includes proposed changes
Tasks Responsibilities Time-scale Actual time
requirement
Draft of plan and new
business unit
Director of the
business
3 months 3 ½ months
Method for gathering
information
Feedback from
customer and market
survey
4 months 3 months
Resources to make
plan
HR, Technical and
physical
5 months 2 ½ months
Cost and time Head department 4 ½ months 5 months
Recruiting and
selecting staff
members
HR manager 3 ½ months 3 months
Marketing for
development of the
organisation
Sales manager with
team members
2 months 3 months
TASK 4
4.1 Impact of proposed changes on business and personnels
In the business, changes incorporate that create positive and negative both types of
impact. In this context, development of Qbic hotel determines several operations that are
performed in significant manner. Further, changes also performed to gain competitive
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advantages with operating functions among various competitors. It can be included following
changes that implement to make proposed in communication: Finance: With regard to make certain changes, Qbic hotel require finance through they
can implement operations and functions in new areas. In addition to this, they can easily
make new products and services that assists to meet with goals and objectives in
systematic way (Peredo and Chrisman, 2017). Workload: Further, the chosen organisation also require manage their workload that
assists to determine effective functioning through team work will be develops. With this
regard, as per the employees' qualification Qbic hotel need to divide work among
members. Therefore, objectives and goals will be accomplish through segregate work
among people. It is the best way to manage work and enhance profitability as well
(Thomä and Bizer, 2013). Morale: In order to recruit new team members, there are several chances due to which
existing employees feel insecure. With this regard, communication need to be implies
that assists to encourage team members to enhance employees performances. Therefore,
Qbic hotel is well known that increase participation of people in significant manner
(Daryanto, Khan and Chakrabarti, 2013).
 Structure of the enterprise: At workplace of the chosen business, there are several people
working together. Therefore, changes required in organisational structure of business to
gather relevant information. Job profile of each member need to be matched as per
business requirement. It assists to make effective functioning where all people work
through conduct market research (Laing, Hooker and Schuler, 2016).
4.2 Plan to maintained changes in the enterprise
Small business enterprise need to make changes with policy to create effective
functioning at workplace. It includes risk element to implement changes that impact on staff
members and Qbic hotel as well. With the help of market research, it has been seen that better
working environment need to be implemented at workplace that assists to meet with goals and
objectives of the organisation. The chosen organisation ascertain several dimensions to make
successful operations and functions (Wynarczyk, Piperopoulos and McAdam, 2013). Therefore,
they have responsibilities to bring more profits through focuses on local and national customers.
With the help of well established policy system, effectiveness will be develop in significant
12

manner. With the help of certain changes, organisation also needed modifications in personal
relations and communication as well. Hence, changes can be gather that impact on the
competitors and their performances as well.
Along with this, workers of the chosen business require modifications in the personal
relations and communication. As results, changes need to be implemented that create impact on
the growth and performances of Qbic hotel. Changes are also inevitable that is more flexible for
the workers of the organisation. People also willingly learned about the things that are performed
as the new tasks. In addition to this, employees trained to perform operations with conducting
market research (Henry, Rushton and Baillie, 2016).
4.3 Monitoring the improvement of business performance as per time-scale
In order to make certain changes, Qbic hotel require implement their goals and objectives
with setting several activities and actions. It is the best way to enhance profits and revenue
through modified operations in global place. Effective monitoring and controlling activities
assists to bring measurement that create significant impact as well. Hence, it assists to find out
operations and functions that can be develop target market in several areas of the market.
Following are certain activities included that assists to develop effective functioning in business:
Activity (in month) 1 2 3 4 5 6 7 8 9 10 11 12
Setting of the goals and
objectives
Conducting market research for
analysis demand of the products
Development of new products
Promotional activities for
increasing brand image
Implementation of the plan
Expansion of business
operations
Increase customers satisfaction
through implementing the
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activities
Monitoring and controlling the
process of business results
(Costanzo, Vurro and Perrini,
2014).
Maintain and sustain
organizational performance
through innovation and
evaluation
CONCLUSION
From the above report, it can be summarized that Qbic hotel is the small sector
hospitality enterprise. They are providing several services and products to local and global
customers as well. Furthermore, report concluded about comparative measurement that assists to
meet with goals and objectives with implementing several strategies. It includes methods such as
assessment of financial statements, ratio analysis, customer feedback, etc. Moreover, it
articulated about the existing performance which need to be maintained for effective results in
business. For example, continuous evaluation, customer feedback etc. In addition to this, it
discusses about the new areas for further expansion of business through implementing strategies.
It involves adding new products and services, selling more products to existing customers, etc.
Along with this, report also explained about revise business plan to incorporate certain
changes in the business unit. In this aspect, Qbic hotel require implement advance technology,
make changes in budget and forecasting for future growth. At last improvement need to be
develop for future outcomes at given time-scale to develop effective functioning at workplace.
14

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