(SBE)Small Business Enterprise Assignment
Added on 2020-06-06
15 Pages5559 Words79 Views
Small BusinessEnterprise
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Profile of a small business to identify its strengths and weakness........................................11.2 Analysis of business with comparative measures.................................................................3TASK 2............................................................................................................................................32.1 Recommendations to overcome weaknesses........................................................................32.2 Ways to maintain existing performance................................................................................42.3 New areas for expansion of business....................................................................................5TASK 3............................................................................................................................................53.1 Existing business plans and objectives.................................................................................53.2 Revise business plans to incorporate changes.......................................................................63.3 Action plan for implement changes......................................................................................7TASK 4Technological factorsSocial factors:Political factors:Economic factors:.......................84.1 Impact of change on business and its personnel...................................................................84.2 Management of change.........................................................................................................94.3 Improvements in business performance over a specific time period..................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONSmall business enterprises can be in the form of sole proprietorship, partnership in whichless number of employees work and which earn small amount of revenues than large businesscorporation. These kind of enterprises play a big role in growth of a country and government alsoprovide them various support facilities for their expansion (Nga and Shamuganathan, 2010). Oneof the main benefit of these corporation is that they provide a platform to local people to showtheir talent and skills. These businesses carry out research on small basis for identify needs ofcustomers. Today's business environment is very complex and is changing at a fast speed. That'swhy it become necessary for business enterprises to implement concept of change to offerproducts as per the needs of customers. Austin Fraser a consultancy firm, who provide variousconsultancy services to its clients is taken under this report for study. SWOT analysis ofcompany is detailed in this and what should be done by firms to remove its weakness is alldetailed in this report. Further, new areas in which company can expand and an action plan forimplement changes is also covered in this. Along with this ways in which company can managechange and its impact on business and its personnel is also detailed in report. TASK 11.1 Profile of a small business to identify its strengths and weaknessProfile of an enterprise contain about its short and long term objectives. Before make aprofile it is very necessary and essential to understand scope and nature of business activities.Identify and define target market, analysis of competitors of company is also done under this.Austin Fraser offer variety of consultancy services to its customers in the areas like recruitment,automation, digital services and many more. It is very necessary to first identify and understandstrengths, weakness, opportunities and threats of business to make its profile. For this a conceptcalled SWOT analysis can be use by company. SWOT analysis of Austin FraserProcess of identify and evaluate strengths, weakness, opportunities and threats of acompany is known SWOT analysis. One of the main benefit of this evaluation is that it guide andsupport top managers during the planning process of business (Jasra and et. al., 2012). Further ithelp to make an effective business plan in a way that firm can use its strengths to make moreprofits and to decrease the effect of its weakness. It also help to identify opportunities exist inbusiness environment and make a company inform about the threats exist in market. Strengths1
and weakness of a firm are internal while threats and opportunities are external. For effectivebusiness profile of Austin Fraser it is very necessary to first have a detailed knowledge aboutthis.Strengths: Special characteristic of an organisation which provide it benefit over other is knowas strength. This support in effective implementation of business operations and help business toget more advantages over its competitors (Al-Dajani and Marlow, 2010). Skilled employees,huge resources of finance, technical facility and many more can be a strength of enterprise.Strengths of Austin Fraser can be understood by following points:Firm offer and deliver effective services at affordable prices to its clients.Company offer services in variety of areas like digital automation, recruitment and manymore. Professional consultants of company. Weakness: Characteristic of a business which provide it a disadvantage over others is known asweakness. Lack of funds, obstacles in strategy implementation, ineffective organisationalstructure all are the main examples of company's weakness. Main weakness of Austin Fraser isdetailed in points stated below:Firm face a lot of technological errors or hurdles in deliver services to customers. Lack of research.Hurdles while communicate with its clients.Opportunities: Special elements in business environment through which an enterprise couldexpand its activities is know as opportunities (Lambert and Davidson, 2013). It is very necessaryfor an organisation to identify opportunities exist in business environment because this help toutilise resources of firm and at the same time help firm to capture a larger market share.Following are the opportunities for Austin Fraser:Development of new technology and markets.Huge financial resources are available to company to expand its activities.Threats: Specific factors of business environment that create unnecessary obstacles and troublesin a business project is knows as threat. Introduction of a new product or service by competitorand change in government all these can be threat for a company. Threats of Austin Fraser are asfollows:Number of policies and legal rules disturb the process of business.2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Austin Fraser Limited - A SWOT Analysis of the Small Business Enterpriselg...
|14
|5542
|70
Small Business Enterprise Report on Austin Fraserlg...
|16
|5536
|42
Report on Small Business Enterprise - Austin Fraserlg...
|17
|5432
|33
Small Business Enterprise Report - Austin Fraserlg...
|16
|5513
|46
Austin Fraser - strengths and weaknesses in businesslg...
|16
|5423
|476
Producing A Profile Of Small Businesslg...
|20
|5625
|43