Task 3: Overview of the business

STUDENT NAME:
STUDENT ID:
SUBJECT CODE:
ASSIGNMENT TITLE: SMALL BUSINESS ENTERPRISE
1

Table of Contents
Task 1...............................................................................................................................................3
Overview of the company................................................................................................................3
A.C1.1 Strengths and weaknesses of the organization....................................................................3
A.C1.2 Comparative analysis of the financial performance of the business...................................4
Task 2...............................................................................................................................................6
A.C2.1 Actions to overcome the weaknesses..................................................................................6
A.C2.2 Ways to sustain existing performance of the company.......................................................6
A.C2.3 New areas for expansion of the business............................................................................8
Task 3...............................................................................................................................................9
A.C3.1 Analysis of current business objectives and plans..............................................................9
A.C3.2 Review of the business plans and the scope for improvement............................................9
A.C 3.3 An action plan incorporating the changes........................................................................10
Task 4.............................................................................................................................................12
A.C 4.1 Impact of the changes on the business and employees....................................................12
A.C 4.2 Plan for management of the changes...............................................................................13
A.C Measurement of improvement in the performance for two years..........................................14
Reference List................................................................................................................................16
2

Task 1
Overview of the company
Business name: The name of the company is Razzamataz. It is a theatre and dance company for
children.
Structure of the owners: It is a limited company that means the limited partners are not
personally liable for the investment made directly. The company has a general partner who
operates the daily operations of the company. This is a complicated process. Limited partners are
recruited or created by the company or one person. The limited partners have no such great
liability for the business activities personally.
Background of the company: The Company has gained superbly in terms of its profits after its
success on many occasions. In 2014, the company saw a peak in terms of revenue and
programmes but in 2015, its net revenue lessened and that has impacted on its expenditure as
well. The amount of assets in banks also shrank from around 94000 pounds to 59 thousand
pounds. It was established in 2000 and from there on it has been giving training in dance, drama
and other theatrical performances. It includes everything from West end theatre to street dance
and pop singing and acting.
Business activities:
It gives lessons in different types of theatrical performances and arts. Part from that it also trains
students to develop their self confidence and put their best in the task or activities that they are
doing. There are also different performance related activities done in terms of acting in front of
camera. It also teaches students how to memorize long paragraphs as speeches and what are the
necessary steps that can be taken to get good communication and language skills.
Business location:
It has schools in almost every major city in the UK and all its classes are well coordinated and
equipped with skilled teachers and facilities.
A.C1.1 Strengths and weaknesses of the organization
The strengths and weaknesses of the organization are provided here through a SWOT analysis.
Strengths: One of the strengths of the organization is that it has molded and modified its classes
according to the needs of the students in different parts of the UK. As it is a small organization, it
has also got the flexibility to work in different areas as per the demand of the students and the
professions (Silva et al. 2016, p.12). Strength of the company is that many of its schools are
3

spread in many distant parts of the UK and thus the students can easily participate in those
classes as these organizations.
Weaknesses: One of the weaknesses of the organization is that it does not have any recruitment
facilities or any partnerships with any companies that recruit dancers professionally. Another
weakness is that it does not provide any classes in any other languages but English (Gibson,
2015, p.82). Another weakness of the organization is that it a limited resource and thus it cannot
fund its projects across Europe.
Opportunities: It has a great opportunity to expand its business if it ties-up with the universities
in the UK as this move will establish this company as a major company in the UK and also will
increase its fame through the academic demands and the professionals’ feedback (Safiullin et al.
2014, p.393).
Threats: The increasing popularity of the cinema and the online games has reduced the
popularity of the theatre significantly. So, meeting the huge challenge from the digital media is
one the threats for Razzamataz. There is another threat from other companies that operate
throughout Europe as they are familiar with many other forms of dance and that also attract the
native people very much (Berends et al. 2014, p.632).
A.C1.2 Comparative analysis of the financial performance of the business
Comparison with businesses in the same industry: Sylvia Young theatre school is one of the
major theatre schools in the UK and it also belongs to the same industry as Razzamataz. The
differences of these companies are shown in these parameters below.
Production: As far as production is concerned, Sylvia has a large a rather smaller number of
classes and also it operates in a rather smaller number of areas and the classes that are given by
this company are based on two types: part time and full time (Karadag, 2015, p.26). On the other
hand, Razzamataz provides classes on many things like musical classes, theatre classes and
language classes as well other than dance classes.
Sales: As appropriate figures are not available, it can be said that Razzamataz operates with an
annual turnover of around 318,000 pounds and it has certainly been able to enter into and grab
the rural demand for such activities (Kenny and Dyson, 2016, p.132). On the other hand, Sylvia
operates only in Westminster city and thus turnover is even below that of Razzamataz.
Technology: both the companies operate in the same areas as far as the dance and theatre skills
are concerned but Razzamataz also provides classes on language and musical skills and thus the
4