SMEs Growth Strategies and Challenges

This assignment analyzes the growth strategies and challenges faced by Small and Medium Enterprises (SMEs). It delves into various factors impacting SME growth, including economic recessions, entrepreneurship policies, and the alignment of accounting information systems. The assignment also examines the role of cognitive-based approaches in enterprise education and the importance of considering gender inequalities in academic innovation and entrepreneurship.

SMALL BUSINESS
ENTERPRISE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Produce profile of the business ............................................................................................1
1.2 Business performance analysis with their competitor ..........................................................2
TASK 2............................................................................................................................................3
2.1 How to overcome weaknesses provide recommendations....................................................3
2.2 Ways to maintain exiting performance.................................................................................4
2.3 New area of business ............................................................................................................5
TASK 3 ...........................................................................................................................................6
3.1 Assessment of exiting business objectives and plan ...........................................................6
3.2 review of business plan and new area of changes................................................................6
3.3 Action plan to implement changes........................................................................................7
TASK 4 ...........................................................................................................................................8
4.1 Impact of proposed changes .................................................................................................8
4.2 Management of changes .......................................................................................................8
4.3 performance of Swing Petrol in over the past two years......................................................9
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Small business organisation demonstrates their operations at very low cost. They are
contributes major part to attain competitive advantages. Economy has various benefits through
operating small business functions (KarataşÖzkan and Chell, 2015). This is because; it enhances
GDP growth of the nation, which results in economic growth. The report is based on Swing
petroleum UK, which is privately owned. They perform functions for Dragon Den shows.
For assessing strength and weaknesses of the business, report covers activities and
operations, which carry for ascertain effective results. Furthermore, it also evaluates financial
performance, which will assist in competing with various organisations. Moreover, it provides
recommendations and strategies to maximise chosen business performance to make successful
operations.
TASK 1
1.1 Produce profile of the business
Business name: The cited firm is Swing petroleum UK, which is privately owned and regulates
functions with various investors. Owner structure: Investors of the business are operates functions and operations that are
maintains profitability and resources at workplace (KarataşÖzkan and Chell, 2015). They
perform functions by providing fund to the company. Hence, it assists in operating
smooth functions and operations. Background/ history: The Swing Petroleum UK incorporated on May, 16 2006. It is a
registered business, which operates functions with developing ideas and opinion. They
provide qualitative products and services that assist to make long term targets and
operations (KarataşÖzkan and Chell, 2015). Location of the company: The chosen firm is located in Hope Cottage, ox, Stroud and
UK. Strengths: The company is specializes their products and services with manufacturing
and distribution of article that make plan at workplace. In addition to this, Swing
petroleum UK provides effective services such as material and wood, etc. Weaknesses: The chosen organisation has limited access to enhance operations and
productivity within the marketplace (Alshamaila, Papagiannidis and Li, 2013). Further,

capital of the business is very low so that they are unable to meet with high revenue and
profits. Low debt level at workplace decline organisation performances. Mission: Swing petroleum UK has mission to target large part of audience. It can be done
when they are offering high quality products and services. At the best value they want to
provide products and services so that they can easily meet with high quality of products
and services (KarataşÖzkan and Chell, 2015). Vision: Swing petroleum has vision to make successful brand and operations in all over
the world with establish new physical and online stores.
 People: Within the company various people are working to achieve goals and objectives.
Jonathan Charles and Katharine Sarah are very important persons who take part to
continuous monitoring on business practices (Brunswicker, and Vanhaverbeke, 2015).
They are successful make operations at workplace.
1.2 Business performance analysis with their competitor
Every business has purpose to operate functions and operations with high investment at
workplace. It will assist to generate high profits and revenue at workplace through operating
functions and operations. With the help of turnover of goods and services, Swing petroleum can
make high competition within the marketplace (Linzalone and Lerro, 2014). Within the market,
Charles Cantrill Ltd. is major competitor of business, which provides different types of products
and services. In order to measure business performances, various ways take place. It will assist to
create profitability at workplace. Therefore, it can determine within the following ways:
Swing petroleum Charles Cantrill Ltd.
Turnover Absolute
changes
Decrease
and
increase
Absolute
changes
Increase
and
decrease
2011 2450 - 2300 - -
2012 2700 250 11.11% 2540 240 11.43%
2013 3060 360 14.40% 2680 140 5.98%
2014 3500 440 15.38% 2650 970 39.11%

From the following analysis, it can be assessed that Swing Petroleum company grow their
operations very effectively. Their revenue are continuously enhances which make high profits
and positive outcomes. As compare to Charles Cantrill, the cited firm performance is very
effective so that they are easily captures whole market in effective way. Apart from this, the
company need to focus on various parts of small areas in which they can operate functions and
operations in effective manner (Clark and Douglas, 2014).
As per the following analysis, gross profits of the business can also ascertain at
workplace, which determines high profits and revenue:
Year Swing petroleum Charles Cantrill
Gross profits Ratio Gross profits Ratio
2011 1000 35.56% 740 23.00%
2012 1170 38.80% 830 27.00%
2013 830 22.00% 1220 41.00%
2014 1260 33.00% 1480 38.00%
From the following analysis, the chosen firm can develop their market through provide
effective products and services. It will assist to make positive advantages through different
activities and operating functions (Dennis Jr, 2011). In 2013, Swing Petroleum UK cannot
expand their operations and positive results. Beside this, Charles Cantrill also enhances their
operations and revenue through they can easily capture whole market.
TASK 2
2.1 How to overcome weaknesses provide recommendations
In respect to perform effective functions, Swing Petroleum need to overcome their
weaknesses. It will assist to perform smooth at workplace. In this way, the company has
opportunity to use different strategies through they will make support to each decision, which
determines for success of the company (Burns, 2010). In this aspect, recommendations can be
made on the following strategies:
TOWS matrix

Strengths (S) Weaknesses (W)
Opportunities (O) SO strategies
The chosen company is providing
various products and services with
effective quality so that they have
opportunity to expand their operations
and outcomes in different market
segment (Alshamaila, Papagiannidis and
Li, 2013). It will assist to Swing to
achieve their goals and objectives
through gain competitive advantages.
WO strategies
Swing petroleum operate
functions in different part of
world so that they have
opportunities to make
economic changes with control
cost and enhance revenue.
Threats (T) ST strategies
In these types of strategies, Swing
petroleum can make high reputation of
the business with wide audience and
managerial skills (Rainer, Cegielski and
Sanchez-Rodriguez, 2013). As results, it
assists to minimize risk elements, which
threat for company.
WT strategies
The cited firm has also
advantages to make strategies
with minimize cost and pricing
policy. In this aspect, they can
easily expand operations and
reduce weaknesses at
workplace.
Methods to overcome the weaknesses
There are many methods by which the cited company can overcome its weaknesses.
 Expansion- Swing petroleum should expand its business in new areas to further grow in
the market. It will increase their market share and will make them have some competitive
advantages among their competitors.
 Reduction in cost- The cited company should use strategies which will reduce their costs.
They can rectify their pricing policy.
 Training- Swing petroleum should give training to their employees to overcome their
weaknesses.
 Diversification- They should bring diversification in their business operations.

 New recruitments- The cited company should appoint new skilled employees in the
company.
 Finance- Swing petroleum should try to increase their finance.
These methods will surely overcome the weaknesses of the cited organisation.
2.2 Ways to maintain exiting performance
At present, the Swing Petrol is conducting many corporate events and many more events
such as one day dance show along with many other dance shows. Entity is also offering different
types of services such as swing dance, gym and workout. Firm is also offering effective with
joyful music (Alshamaila, Papagiannidis and Li, 2013). There are many ways that firm can
improve its presents performs.
Online availability: Swing petrol is also offering it services through online presences. There are
many ways that can be use by firm for offering its services. The company is already has sold
over 5000 copies and also they are expanding through its business through e commerce. Swing
petrol is also trying to conduct many others workshops through its online network (Brunswicker,
and Vanhaverbeke, 2015). Entity can also add mobile application, which helps to their customers
to assess their classes online. For maintaining its present performance through online class they
can also conduct more classes.
Huge Network: Swing petrol is conduct huge network of different types of services. Firm is
offering the dace classes to their customers along with this they are also offering various
packages which helps to individuals for create unique corporate events (Ismail, and King, 2014).
They are also planning to organizing the fitness programs and swing initiatives for senior
citizens. Company is make collaborations with many brands, which includes oasis and keds.
2.3 New area of business
Swing petrol is offering is mainly provides is services in UK only. Geographical area of
organization is limited to UK. After making, collaboration with oasis and they are trying to
develop their markets across the country. For expanding its business they are continuously hiring
new dance teachers. Based on cupit's love of swing, the business has achieved several milestones
in last two year (Cowling and et.al., 2015.). However, entity's geographical area is limited to
only UK and they are offering only limited numbers of dance classes to their customers.

New area of business for organization is Europe and some Asian countries. In those
countries many corporate events are conducted and they are only few entities who offers dance
classes. For expanding its business these geographical are is more suitable and they can easily
maximise their services along with their profits.
For enlarging it services Swing petrol can also new dance style. At present the entity is
offering only limited numbers of dance styles which includes, Lindy Hop, solo Charleston and
Blues (Chitura, and et.al., 2015). For adding more customers in business it is important to more
services in its business. Adding more services assist to Swing petrol for expanding their business
and ensures long term growth.
TASK 3
3.1 Assessment of exiting business objectives and plan
Business objectives of the swing petrol is offering the best dance classes to its customers
along with quality. Entity makes collaboration with many other international firm such as oasis
and kids. Organization has the largest number of dance teachers. Firm have more than 1200)
dancers and troupes across the UK (Lee, 2014). They are also focusing on conducting online
classes for their customers so they can expand their business activities. For developing their
business using advance technology and launching its own e commerce so they can add more
customers in its business. Swing Petrol makes collaboration with oasis and keds so they can take
advantages of competitive business. Another business objective is to add more well trained
employees for its business.
At present entity is facing high competition in UK market as there are many
organizations, which are offering similar nature of services (Alshamaila, Papagiannidis and Li,
2013). After the collaboration, with oasis and kids they can offer their services to outside of the
UK and gain more customers in their business. The company is also trying to develop its own
research and development which assists to them for developing there different types of dance
techniques so they can offer value services to their customers. Another business plan of firm is
added more well trained teachers in their teams so they teach different dance forms to their
customers.

3.2 review of business plan and new area of changes
Business plan of Swing Petrol is to develop its activities through use of its e commerce
venture. Technology advancement helps to entity for enhancing their market share. E commerce
ventures helps to them for create more customers satisfaction (Brunswicker, and Vanhaverbeke,
2015). Another business plan of the entity is to hire more well trained teachers who can teach
different technique of dancing to their customers.
Online venture: Swing petrol is offering their services through online business. The entity has
created its own web page through which they are offering their services to its customers. It
today's world technology changes in more frequent way and its also effects on entertainment
industry. Many organizations are using different types of technology for delivering quality
services. For running an online venture add extra costs in operations but in long run it helps to
entity for add more value in their services. Customers like to use of new technology and this
technique assists to entity for providing its services beyond to their geographical limits.
Add more well trained employees: At present the company is offering only limited numbers of
services to its consumers. Awing petrol is make collaboration with many other international
entities such as oasis and kids so they can offer gain expand their markets in their region
(Jamali, Lund-Thomsen, and Jeppesen, 2017). They can also develop its own mobile application
through which they can assess more customers. The entity is planning to hire more well trained
workers through which they can offer more services to their customers. By hiring more well
trained customers they gain customer's satisfaction and loyalty.
3.3 Action plan to implement changes
Action plan helps to entity for making and developing their future strategics. Through
this action plan they can also implement of changes (Ismail, and King, 2014). Swing petrol is
planning to expand its services through its online ventures and hire more well trained workers in
its business. Entity develops certain changes and for implementation of changes they develop
action plan.
ACTIVITY TIME FRAME TARGET MONITOR
Online venture 2 year For assessing more
customers
Done by the IT
department

Hiring new employees 1 year For providing more
services through its
classes
It is monitor by the HR
departments
In the action plan of Swing entity they want to expand their online ventures which assist to them
for assessing more customers in long run. The aim of expand of business outside of UK.
Implementation of this change the firm is to making its own IT department so they can easily
monitor their online activities.
Another aim of this action plan is to hiring new employees within entity so they can provide
extra services to its customers. The HR department of entity is using different polices so they can
make their practices more effective.
TASK 4
4.1 Impact of proposed changes
Some of the, specific business changes proposed for Swing Petrol for expanding their
business activities beyond their geographical area of the UK and use of technology in their
current systems (Chitura, and et.al., 2015). Use of advance technology helps to company for
assessing more customers in it business. But or making implementation of this change entity
need to hire IT specialists which helps to them monitoring their online ventures along with this it
also needs to develop certain strategics so they can target easily. Hence, to expand business has
direct impact on entity financial positions. It also creates different type of uncertainties and risks.
Moreover, for develop its online venture they require recruiting more new employees who can
hold technical knowledge in their respective fields (Cowling and et.al., 2015.). It also requires
developing their own IT department, which directly add more operational costs in business.
On the other hiring new employees for expanding business create positive impact on
sales. Considering the facts in that business in based on services industry so it is important for
organization to offers value services to its end users. It improves performance of entity and also
improve their brand image. The involvement of new employees in Swing Petrol helps to firm for
offering different types of services and gain their trusts.

4.2 Management of changes
It is known fact that any changes in the business tends to have impact both on business as
well as on employees working on it (Asplund and Blacksmith, 2011). Hence, in the event of
Swing Petrol accepts the expansions plan outside the current target market then it would require
to undertaken the following tasks. The management need to conduct market research in order to
target market and also to understand the needs of customers.
 After conducting market research, on the basis of that research the have to select more
appropriate strategy which assist firm for achieving their targets.
 Once, the decision has been made in respect to the target market, a specific strategic plan
is required to be developed describing the manner in which expansion is required to be
undertaken.
 The sources of finance shall be ascertained and all the concerned arrangements shall be
made (How To Use Your Strengths To Overcome Your Weaknesses, 2015).
 Along with entity also make informed to their workers regarding to their plan and also
training shall be provided to their workers who shall be working for the new target
market, or make recruitments.
Similarly, if the Swing petrol decides to introduce technological advancements, then it shall
require to
 All the workers likely to be affected by changes in technology shall be provided with
training in order to make them hem learn everything about the newly introduced changes.
 The technological advancement shall be promoted in the market so as to inform the
customers about specific benefits they are likely to realize with these changes.
4.3 performance of Swing Petrol in over the past two years
Swig petrol is corporate entertainment organization. On of the major changes which the
company undergone in the year 2013 in entity make important changes for their online ventures.
On the basis of cupit's songs of Swing entity has achieves several milestones in last two years
such as breaking a Guinness world record for the largest Charleston (Rainer, Cegielski, and
Sanchez-Rodriguez, 2013). It is published in many new papers which shown that entity
enhanced its performances in last two years. Another achievement which receives by entity is to
make collaboration with oasis and kids. Through this collaboration firm is able to manager their
activists at international level as well.

The company adopt advanced technology, which is to quality in their services. With the
help of online venture entity become more efficient for serving the needs of their customers as
per their requirements. It has assured to address the needs and preferences of each and every
consumer who visits the site. In addition, the employees of the company is become more well
trained and assists to enterprise for achieving their targets (Alshamaila, Papagiannidis and Li,
2013). Hiring employees who are belongs to different background helps to them for adding more
services in their business. Hence, in past two years firm accomplish long and extremely
interesting journey by making a team of 12000 employees.
CONCLUSION
Supping up the above report it is concluded that developments of business is important to
improves performances. Swing petrol is offering it services in entertainments industry. The
company have well trained employees and build a team of 12000 workers. Firm activities are
limited to only geographical area of UK. Swing petrol is offering its services through its online
venture and taking further steps for developing its own mobile application. With the help of
technological advancement they can attract more customers in its business. However, the firm is
facing many problems for providing services through its online platform. They are trying to
develop their own IT department so they can make their virtual presences more strong.

REFERENCES
Books and Journals
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