Small Business Enterprise Report- Razzmatazz Theatre School

Added on - Feb 2020

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Small business enterprise
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Profile of a selected small business.......................................................................................11.2 Comparison of Financial Performance..................................................................................2TASK 2...........................................................................................................................................32.1 Assessment Of Weakness.....................................................................................................32.2 Existing performance............................................................................................................52.3 Suggestion about the new area in which the business could expand with reasonablejustifications................................................................................................................................6TASK 3...........................................................................................................................................73.1 Assessing Business Objectives and plan...............................................................................73.2 Reviewing the business plan and suggest areas where changes can made...........................83.3 Implementation of action plan..............................................................................................8TASK 4...........................................................................................................................................94.1 Impact of proposed changes will have on business and its personnel..................................94.2 Change management in the business..................................................................................104.3 Improvement in the business operations.............................................................................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONSmall business enterprise is the corporation which is owned and managed by the owneronly. As per the European Union, companies in which the number of staff members are less than50, they would come under the category of SME. This kind of organisation is having a greatinvolvement in the economic development. In other words, it can be said that small businessenterprise is that kind of organisation that employs small number of workers and does not havehigh volume of sales. They are privately owned corporations that are in either partnership or soleproprietorship that have fewer employees and less annual revenue than a regular sized businessor corporation. It is witnessed that number of businesses are sponsored under Dragon Den.In this project report, the business performance and financial status of RazzmatazzTheatre School will be studied. It is the firm which was found by Hutton Gosney in 2007. Theorganisation provides training of singing, dancing and drama to children and adults. Accordingto the research, it has been found that UK government has decided to spent more funds on smallbusinesses for the development of business sector in the right manner. The following report hasaddressed various objectives such as investment of small business enterprise and changes toimprove the performance of management and business.TASK 11.1 Profile of a selected small businessPARTICULARSDESCRIPTIONName of the businessRazzamataz Theatre SchoolOwner StructureRazzamataz theatre school is the private limited company and its majorshareholder is Ms Denise Gosney that is owning more than 75% sharein the UK.History/BackgroundThe school runs on Saturday and Friday and teaching or providingtraining one hour for singing, one hour of dancing and one hour ofdrama. Its students are divided into different groups based mainly on theage and sometimes, ability. This school was found by Denise HuttonGosney in 2000 and in the year 2007, E took it to business programsconducted by BBC.
Its activityThe major activity of cited venture is to provide training or teaching tochildren and adults with respect to singing, dancing and drama skills.Business LocationThe cited company is registered in the United Kingdom but it hasexpanded in 14 countries through outlets. In several nations, companyprovides training about musical theatre, dance, song, drama,improvisation and physical theatre (Hayes, 2014).StrengthsandWeaknessesMajor strength cited venture is to operate its business in more than 14countries. It has well managed structure and system of business throughwhich it can attract a large number of customers. It renders excellentquality of services to customers in the market. Another strength of citedventure is that it has highly skilled and talented staff which providesexcellent services to its customers (Cummings, Bridgman and Brown,K. 2016). It is a famous training school in the UK.One major weakness of company is that it charges high prices from itscustomers because of which lower income class group is not able toavail these services. In addition to this, it’s another weakness is that it isrestricted to children and adults only which means it provides trainingto only children and adults and the school is run only on Friday andSaturday.1.2 Comparison of Financial PerformanceIn order to analyse the financial performance of company as compared to another firm,financial statement can be audited. For comparing the financial performance of RazzmatazzTheatre School with other company, it is important to verify report are from the same accountingperiod such as December to January. Analysis of Razzmatazz Theatre by using comparativemeasures is discussed as below-Operation AnalysisRazzmatazz Theatre is a famous training school in the United Kingdom which rendersvarious kinds of training about dancing, singing and drama. But in the UK, cited venture isfacing very high competition. Its major competitor is City Academy which provides training to2
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