Small Business Enterprises - Austin Fraser
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Added on 2020-01-28
Small Business Enterprises - Austin Fraser
Added on 2020-01-28
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Small Business Enterprises
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3Task 1...............................................................................................................................................41.1 Profile of Austin Fraser Limited and its strengths and weaknesses......................................41.2 Analysis of Austin Fraser Limited using comparative measures of performance................4M1...............................................................................................................................................5TASK 2............................................................................................................................................52.1 Recommendation with justification and appropriate actions to overcome the weaknesses..52.2 Ways by which existing performance can be maintained and strengthened.........................62.3 Areas in which business could be expanded.........................................................................6M2...............................................................................................................................................7TASK 3............................................................................................................................................73.1 Assessment of existing business objectives and plans..........................................................73.2 Revised business plan to incorporate appropriate changes...................................................73.3 Action plan to implement the changes..................................................................................8D2................................................................................................................................................8M3...............................................................................................................................................8TASK 4............................................................................................................................................94.1 Impact of proposed changes on business..............................................................................94.2 Managing the impact of proposed changes...........................................................................94.3 Monitoring the improvements in the performance of Austin Fraser Limited....................10D1..............................................................................................................................................10D3..............................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................11
INTRODUCTIONSmall business enterprise is the small businesses which do not have high sales volumeand have few employees in the organization. Small businesses are generally privately owned andruns as sole proprietorship, partnerships, and corporations. (Abebe, 2014). This report is basedon Austin Fraser Limited which is a small business enterprise which provides recruitmentservices and it is operating in UK. There are 78 people who work in this company and due totheir hard work as well as dedication of the employees in the company which help them tobecome successful business unit. Further, profile of the company is being analysed below in thisreport.Task 11.1 Profile of Austin Fraser Limited and its strengths and weaknessesAustin Fraser Limited is a company incorporated on 23rd January 2006 and is a specialistin IT, life sciences and engineering recruitment (Ackermannand Audretsch, 2013). It works invarious sectors such as technology recruitment, digital recruitment, aviation recruitment, etc. TheCEO of the company is Pete Hart. The objectives of the company include increase in marketshare by 15% in three months. In addition to this it is also specified that this increase in marketshare has to be attained in a time span of three months and for that relevant measures should beundertaken. There are various strengths of the company which describes about its capabilities thatincludes its effective performance as well as its comparative advantage that it enjoys in market(BridgeandNeill, 2012). The strengths of Austin Fraser Limited include Highly skilled consultants which have online website that attracts more and morecustomers in growing world. It has excellent client and candidate network. Great knowledge about upcoming job opportunities with which they will help in findingbest jobs which otherwise would not have been possible. It provides services in wide range. Apart from strengths there are some weaknesses also which every business suffers.Weaknesses are the deficiencies in certain resources due to which business suffers a decrease in
its effectiveness. Some of them are weak brand, it receives many unwanted applications whichare also required to be dealt with and wastes a lot of time. The company is new in the market andbeing a small enterprise has low capital investment. Also marketing policy of the company is notso strong.1.2 Analysis of Austin Fraser Limited using comparative measures of performanceThe performance of the company can be evaluated by using various measures. Formeasuring the company’s performance, the most important tool is financial profits. According tothe available data, company witnessed a growth in turnover and also in its return on capitalemployed (Burrows, 2015). Its net assets have grown in the previous years. Another measurewhich can be used is customer satisfaction and their opinions. For the feedbacks, they will beasked questions about the services as they are satisfied or not. . Also there opinions andsuggestions will be asked so that services can be improved (CarraherandParidon, 2015).According to the reviews, Austin Fraser Limited shows that it has high customer satisfactionrate. Another measure will be employee motivation as by this their performance will increasewhich will further help in increasing customer satisfaction. Different types of employee trainingprogrammes will be conducted which will enhance their capabilities and also their level ofsatisfaction. The problems of employees should be given due respect and should be solved.Further, it has been noticed that Austin Fraser Limited employees are highly satisfied with thecompany’s services.M1According to the analysis of the different comparative measures that are discussed aboveit helps in evaluating performance of Austin Fraser Limited as it can be said that performance ofthe company is satisfactory as it is fulfilling its duties and responsibilities with due care. Thecustomers are highly satisfied with the services of the company and so are the employees anddue to this they are performing their tasks with full dedication. And both of these are collectivelyincreasing the overall performance of the company. This can be further evaluated through thegrowth of the company and its financial aspects.
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