Small-business Enterprise Report - Reviveaphone

Small-business
Enterprise

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Profile of selected small business with identifying its strengths and weaknesses................1
1.2 Analysis of business using comparative measures of performance......................................3
TASK 2............................................................................................................................................5
2.1 Recommending with justification appropriate actions to overcome identified weaknesses.5
2.2 Ways in which existing performance could be maintained and strengthened......................5
2.3 Recommend with justification, new areas in which the business could be expanded..........6
TASK 3............................................................................................................................................7
3.1 Assessment of existing business objectives and plans..........................................................7
3.2 Revising business plans to incorporate appropriate changes................................................8
3.3 Prepare an action plan to implement the changes.................................................................9
TASK 4..........................................................................................................................................11
4.1 Impact of the proposed changes on business and its personnel..........................................11
4.2 The way changes will be managed in business...................................................................13
4.3 Monitor improvements in the performance of business over a given timescale.................13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
In the current era, small business firms are one of the fastest developing sector at
worldwide level. Thus, it provides several opportunities to persons so that they can enhance their
capabilities and skills. Small business enterprises help to improve the economy of country so that
market share, purchasing power and market condition will respectively become strong.
Therefore, from the Dragon Den series Reviveaphone has been chosen, thus it is a small business
firm which repairing damaged phones within 24 hours. This report will be discussing about
strengths and weaknesses of the selected organisation. Additionally, there are representing
different supportive ways or sources hence with the help of them can effectively overcome
weaknesses of the business firm. There will be producing an appropriate assessment plan thus it
can be used for significantly attaining goals and objectives in minimum time period. (Bridge and
O'Neill, 2012)
TASK 1
1.1 Profile of selected small business with identifying its strengths and weaknesses
Generally, small business firms are operated by the owner as per their rules and
regulations because they have all rights and power to take appropriate decisions. Apart from this,
every business firm has some strengths and weaknesses thus as per these aspects can effectively
identify actual position and status of the company in a effective and efficient manner. Hence,
SWOT analysis is a tool which can be used for identifying and examining the strengths and
weaknesses of Reviveaphone. (Schaper and et. al., 2014)
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Illustration 1: SWOT analysis
(Source- SWOT Analysis: Theory, 2017)
STRENGTHS
Reviveaphone is a small-business firm which providing repairing services of mobile
devices customers with better and effective quality. Thus, this company has some strengths due
to them respectively increased profitability and productivity of the business firm in a impelling
way. (SWOT Analysis: Theory, 2017)
 One of the major strength of this organisation is it have diversity of business in different
categorise.
 It is one of the most growing small-business firm of UK.
 Its working structure is more effective in nature due to this its employees or staff
members significantly perform their operations.
WEAKNESSES
In the context of company's weaknesses, it helps to shows some weak and negative points
of the Reviveaphone. Hence, due to the weaknesses sometimes business firm cannot
significantly get success in competitive market place.
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 This company does not effectively understand the each other businesses and their
working style. (Storey, 2016)
 It does not have capable and skilled team members due to this employees of this business
firm cannot impressively perform their operations.
OPPORTUNITIES
 It have right chance to recruit more capable and skilled employees within the
organisation so that HR department can full fill the gaps.
 Reviveaphone can expand their business firm in several areas because expansion is one
of the best way to earn high profit and increase sales.
THREATS
 Major threat for Reviveaphone is, in the market place competition among electronic
company regularly increased. Thus, which all are seeks to be get success and achieve
goals.
 Every staff members are not effectively participating. (Blackburn, Hart and Wainwright,
2013)
1.2 Analysis of business using comparative measures of performance
Company's financial accounts and sheets help to define its actual position and status in an
effective and efficient way. Thus, there are defining Reviveaphone profit and loss account and
balance sheet of 2016 to 2017.
Profit and Loss Account for the year ended 30 April 2016 and 30 April 2017
2016
£
2017
£
Sales 300 500
Cost of Sales 250 350
Gross Profit 150 250
Overheads 100 100
Net. Profit 50 150
Balance Sheet 30 April 2016 and 30 April 2017
£ 2016 £ 2017
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