Small Business Enterprise Analysis - Doc
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Added on 2020-12-30
Small Business Enterprise Analysis - Doc
Added on 2020-12-30
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Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Produce a profile of a selected small business Organisation............................................31.2 Carry out an analysis of the business using comparative measures of performance........4TASK 2............................................................................................................................................42.1 Appropriate actions to overcome the identified weaknesses in the business...................42.2 Analyse ways in which existing performance could be maintained and strengthened ...52.3 Recommend with justification, new areas in which the business could be expanded.....6TASK 3............................................................................................................................................63.1 Produce an assessment of existing business objectives and plans...................................63.2 Revise plans to incorporate appropriate changes.............................................................73.3 Prepare an action plan to implement the changes............................................................8TASK 4............................................................................................................................................94.1 Report on the impact of the proposed changes on the business and its personnel ..........94.2 Plan how to manage these proposed changes at St. David's hotel...................................94.3 Monitor improvement in the performance of the business over a given timescale........10CONCLUSION..............................................................................................................................11.......................................................................................................................................................11REFERENCES .............................................................................................................................13
INTRODUCTIONSmall business enterprises are those which is owned, operated and controlled by one ormore individuals. These are helpful in supporting economic development in countries(Bridge andO'Neil, 2012). These enterprises helps to create employment opportunities. The chosenhospitality organisation is St. David's Hotels which is 2 star hotel in London, UK. It offers foodand accommodation facilities to the travellers. This project discusses about the size and structureof the respective hotel as well as identifies its strengths and weakness. Along with it alsodetermines the actions to overcome the identified weakness with the help of the proper actionplan to achieve business objectives and also monitors the improvement in the performance of thebusiness over a given time period.TASK 11.1 Produce a profile of a selected small business Organisation.Small business enterprises refers to those entities which have less than 10 millionturnovers and also have 50 employees who work for achieving goals in an appropriate manner.The following mentioned points represents the whole scenario of the organisation.Size- Number of employees working in the respective hotel is all about 40 in numberwhich are working dedicatedly to expand its operations in future.Type- St. David is a small hospitality organisation which provide food and lodgingfacilities to he travellers.Structure- Every hotel whether it is big or small needs an organisational structure.Respective hotel follows flat organisational structure with minimum level of management andadministration . They generally have general manager and assistant manager for managing thefood and beverage as well as accommodation facilities for the tourist (Schape and et. al., 2014).Mission- Its mission is to exceed guest expectations and to inspire and motivateemployee's for the promotion of excellence and future development.Goals and objectives- The major goals and objectives of st. David hotel is to providequality service to their customers ensuring cleanliness and high exceptional value for the price totheir potential customers which help them to expand their services and target more tourist.Strengths and weakness Strengths
It creates employment opportunities for the individuals from lower class families.They don't have to spend more on marketing campaigns and advertisements.It attracts families from both lower and middle class segments to take advantage of theservices offered.WeaknessesLack of proper administration and management process within an organisation.Lack of proper funds which creates problem in providing standard services(Storey,2016).Problems in handling customer complaints which dissatisfies tourist.1.2 Carry out an analysis of the business using comparative measures of performanceThe statistic shows the median profit made by small and medium enterprises(SME) in theunited kingdom from the year 2017-2018, by enterprise size. The larger the enterprises were interms of number of employees where larger the amounts of profit generated. When consideringall the SMEs together the median profit made was 8 thousand British pounds in 2017. Theaverage amount of profit that was generated over the following years from all UK SMEs in 2017and 2018 was 9 thousand British pounds. With the help of this data collected it has been analysedthat small medium enterprise generally employs large number people and also supports ineconomic development of the country.Ratio 201620172018Return on Equity%88.2930.1944.41Current Ratio0.650.460.46Quick Ratio0.490.40.42Net Margin %5.934.575.99From the above financial ratios, it can be easily interpreted that ST. David hotel haveattained strong financial position from last three years. The profit margin of ST. David hotel inyear 20156 is 5.93 which goes down in the year 2017 but later on it rapidly increases in the year2018 which clearly shows that the company is attained strong financial position in thecompetitive market.
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