Small Business Enterprise Report - The Ledbury

Added on - 06 Jun 2020

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Small Business Enterprise
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Profile of a small business enterprise to identify its strengths and weaknesses...............11.2 Analysis of business using comparative measures...........................................................3TASK 2............................................................................................................................................42.1 Appropriate action to overcome the weaknesses..............................................................42.2 Various ways in which performance of business could be maintained............................52.3 New areas in which business could be expanded.............................................................6TASK 3............................................................................................................................................73.1 Assessment of current objectives of business and plan....................................................73.2 Revise plans of business to incorporate changes..............................................................83.3 Action plan to implement changes...................................................................................9TASK 4..........................................................................................................................................104.1 Impact of changes on business and personnel................................................................104.2 Management of changes.................................................................................................104.3 Improvements in performance of business over a specific time period.........................11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONSmall business enterprises are controlled by private hands under which fewer employeeswork and whose annual revenue is less than a medium sized corporation. Government of countryprovides various types of support facilities to these in order to encourage business activities ofthese firms on international level (Nga and Shamuganathan, 2010). These organisations play abig role economic growth of a country. These enterprises provide a number of employmentopportunities to local people and contribute in increasing their standard of living. Mainly, thesebusinesses are in the form of sole proprietorship or in partnership. One of the main features ofthese types of businesses is that it carries out research in order to identify needs of customers andthen offer innovative products to its customers for satisfying the same. The Ledbury, a restaurantwhich offers British cuisine to its customers, based in London, is chosen in the present report.Profile of The Ledbury with its strengths, weaknesses, opportunities and threats are all detailedunder this report. Further, main actions which enterprise can take to remove its weaknesses andmaintain its business performance are all mentioned here. Along with this, impact of changes onbusiness operations and its performance within a given time scale are included in this report aswell.TASK 11.1 Profile of a small business enterprise to identify its strengths and weaknessesThe Ledbury is one of the most popular dining brands in UK which offers variety ofquality food products to its target customers to satisfy their needs and fulfil their requirements.Actions of an enterprise and decision making process of enterprise get affected by variousinternal and external factors exist in business environment. Internal elements of a restaurantinclude its supply chain, quality of its food items while political, social and technological factorscome under the external environment. Main focus of TheLedbury is to satisfy needs of its targetcustomers by offering them variety of food products of good quality(Jasra and et. al., 2012).This is also known as one of the biggest strengths of firm as this helps in attracting number ofcustomers.Main head chef of restaurant is Brett Graham which is very attractive and influencingpersonality that add value to the overall experience of customers which increases satisfaction ofclients.The Ledbury hold a position in top 10 restaurant of UK and this is another feature of1
this company.Restaurant offers quick and quality services to all its customers and this helps inproviding competitive advantage to the firm. Further, attractive interior of restaurant offerscomfort to all customers that motivate them to spend more time in it and help them to enjoy theirmeal. Presentation of food plays a vital role in restaurant and The Ledbury presents it food in anattractive manner which attracts large number of customers. With all these strengths, there aresome weaknesses of firm due to various elements that exist in the business environment. Mainweakness of The Ledbury is delay in offer food services to its customers(Al-Dajani and Marlow,2010). This unnecessary delay affects other activities of business. Lack of financial resources isone of another weakness of The Ledbury and due to this, top manager of firm is not able toexpand its operations in other areas. Due to this, company offers only limited food items to itsclients. Every business enterprise whether small, medium or large have some kind of strengthsand weaknesses as well as it is essential for manager to identify the same so they can formulatebetter strategies for business and achieve objectives in an effective way. For identifying strengthsand weaknesses, The Ledbury can use tool called as SWOT analysis:Strengths: Unique features of company which add effectiveness in business operations areknown as strengths of enterprise. Main strengths of The Ledbury includes following:Restaurant offer quality food products and services to its customers.The Ledbury hold a position in top10 restaurants of London.Weaknesses:Shortage of funds.Delays in offer services to customers.Opportunities:Restaurant can increase the variety of food items it offer to its customers.By increase the number of store outlets The Ledbury can achieve growth.Threats:Participation of government in business activities.Increase competition.1.2 Analysis of business using comparative measuresBusiness performance ofThe Ledbury can be calculate by analyse the quality of fooditems it offer to its customers. The Ledbury get number of advantages due to Chef Brett Graham.Further, sale is another concept on which performance of restaurant can be evaluated(Lambert2
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