Assignment on Significance of Small Business Entities
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Added on 2020-06-06
Assignment on Significance of Small Business Entities
Added on 2020-06-06
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SMALL BUSINESSENTERPRISES
INTRODUCTIONEconomic condition of any nation is depend upon its number of enterprises. In UK, thereare many small businesses are developed which are assistive its growth and development. Smallbusiness entities are those where a few number of employees are being worked and they do nothave high sales volume. SME's are implemented in order to provide something new andinnovative to the society. Their main objective is to attract wide range of customers so as tomaximise sales and make higher profitability (Altman, Sabato and Wilson, 2010). Thecoursework is selected Zizzi restaurant for overall case study; it is one of the famous smallbusiness enterprise of UK. Basically it is known for its attractive theme or decorum in localareas. The assignment is categorized into four segments by describing the significance of smallbusiness entities. It will be describe that managers have to use effective methods so as to get ridfrom all barriers which affect firm's performance in future. There are certain ways that needs tofollow up entrepreneurs so as to cope its existing performance within target market. Furthermore,business plans are accessible for effective completion of all working activities in a minimumtime frame. TASK 11.1 Profile of small businesses and its strength and weaknessesProfile of Zizzi restaurant: - It is one of the popular eating place in local streets of UnitedKingdom; as in its initial stage the enterprise is focused to catch the interest of million of peopleby providing them qualitative nutrients or eating items. Zizzi restaurant was entered by havingnew and advanced ideas, i.e. impressive dinning tables and classy theme, it also offers deliciousfood. Food and drinking breakages which are offered by this company are really demandedamong customers. Or we can say it is the first choice of people of local areas. Employees ofZizzi restaurant are well-behaved with their guests; it also tries to fulfil social responsibilities.On the other hand, the enterprise offers various types of deserts, drinking beverages, cheese fooditems (Storey, 2016). Below mentioned the profile of Zizzi restaurant: - Name – Zizzi Restaurant Address – 20 BOW STREET, WC2E 7AWEmail - zizzi@roccoforhotels.comTelephone – 0207 836 6101Opening hours – 10:30 AM to 11:00 PM1
Website – www.zizzirestauraant.co.uk/Average prices - £75 (4 courses)Food served – Zizzy spicy nuts, calamari, gignati olives, arancini, mushroom brindisiOpen since – 1999Type – Sophisticated fine dinning restaurant, with delicious food. In order to get succeed in competitive market, owners of small business enterprises haveto find out those factors which will influence their future market position and profits. Thisdetermination will be helpful for these firms as they can accomplish their aims and objectives inthe best possible manner. Strength and weaknesses of Zizzi restaurant:STRENGTHLow cost of production and highemployment rate Government support in terms offinancial as well as subsidies (Battistiand Perry, 2011). Zizzi restaurant has maintained classydecoration in different areas, there is ahuge space between furniture that givesfull privacy to guests. Although, it isvery useful to attract domestic as wellas foreign clients. Well trained and qualified staffmembers who served people in aneffective manner. Attractive music and background whichis assistive in bring numerous buyers.WEAKNESSESLack of experienced employees whoare not capable to know needs andwants of target customers. Lack of good infrastructure. Lack of new and innovativetechnologies. Unreliable cash flow and no marketpresence. 2
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