Small Business Enterprises and Market Trends

This assignment discusses how small business enterprises can benefit from adopting market trends and positioning strategies. The baby bear company provides day care services and should consider implementing changes such as SWOT analysis, benchmarking, trend analysis, and balance score card to improve their market position and increase sales. By understanding these concepts, the company can empower its strengths, recover weaknesses, and capitalize on opportunities while mitigating threats.

SMALL BUSINESS
ENTERPRISES

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Small business strength and weaknesses..........................................................................1
1.2 Analysis of business using comparative performances....................................................2
TASK 2............................................................................................................................................3
2.1 Proper actions to subdue known imperfection in concern ...............................................3
2.2 Ways through which performance maintained and strengthened ....................................4
2.3 Advice of new region of enterprise can expand...............................................................4
TASK 3............................................................................................................................................5
3.1 Appraisal of present business neutral and thought ..........................................................5
3.2 Concern design to integrated proper modification ..........................................................5
3.3 Action plan to implement the changes ............................................................................6
TASK 4 ...........................................................................................................................................7
4.1 Effect of Purpose relation on the enterprise and its department.......................................7
4.2 Changes can be managed in business ..............................................................................8
4.3 Supervisor better in presentation of concern over time scale ........................................10
CONCLUSION .............................................................................................................................11

INTRODUCTION
Small scale enterprises can describe as those who is small scale with few or limited
number of employees (Schaper and et. al., 2014). Usually this kind of business consider almost
250 workers it doest have much bulk of sales. These type of organization generally owned by the
private sectors such as sole proprietorship, partnership and corporation etc. are types of small
enterprises. For them there are some guidelines which is approved by the government for them
and they have to strictly follow that rules and norms. This assignment is going present all aspects
of the small businesses their pros and cons and what action they need to maintain their strength
and overcome through the weaknesses (Ratten, 2014). This will also cover business action plans
and how to make them inn concerned with the accomplishing organisational objectives. There is
small business enterprise named baby bear its a nursery home for the kids in UK. They basically
provide services in which they do day care for the kids from the birth.. This also offers the
childcare services which is quite advantageous for the development of the child along with this
also provide safe, healthy, secure, stimulating environment for the progress and growth of the
kids.
TASK 1
1.1 Small business strength and weaknesses
Small business offer services to their customers which is of very limited money they
charge from the buyer. In this scenario they prefer to use quality with effective and efficient
tools along with this they provide good services to their target consumer and try to satisfy their
needs and demands. This baby bear company usually give services with their expert professional
staff. Swot analysis is the medium through this they can also identify the strength, weaknesses,
opportunities and threats of the company (Rae, 2010). Through this they can also plan good
strategies by considering their positive as well as negative effects and try to overcome with the
weaknesses with the help of this analysis.
Strengths It is a very centric and experienced staff with greater knowledge and skills.
They are trained by staff members along with they are more concerned with
the experienced and effective quality of services. This company is very
affordable as well as reasonable for the for the consumer they also adopt
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various child care methodology.
Weaknesses They are not located in the prime location , so due to that very few people
aware about this facilities (Stokes, Wilson and Wilson, 2010). They demands
for the more cash because of the lack of money to run the small business
enterprise with the good quality and services.
Opportunities Rich and prime location may be come with the dual income families and it
will be more popular. They can also prove services at home.
Threats Shortage of qualified and skilled staff they also have insufficient supportive
staff members.
1.2 Analysis of business using comparative performances
Business analysis is very important so they can measure their performance time to time
and it is needed so they can strength their business (Olson and Staley, 2012). It is significant
through this they can also overcome and devote more efforts to empower their position. There
are various methods trough which they can measure their performance as a tabular , graphic ,
forced ranking etc. According to this research it is figure out that company has good rating in the
entire market with their competitors. P and L account year ended 1st April 2016 to 31st March
2017 of baby bear present one of the pursuing digits :-
Baby Bear Nursery home Teddy Bear Nursery.
Sales 150 180
Cost of sales 50 70
Gross profit 100 110
Overheads 20 50
Net Profit 80 60
Balance sheet for the year ended on 1st April 2016 and 31st April 2017 of Baby Bear shows
following figures:-
Baby Bear Nursery home Teddy Bear Nursery.
Fixed Assets 20 15
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Current assets:
Stock 5 12
Debtor 9 40
Bank 2 0
36 67
Current ratio = current assets / current liabilities
Year 2016
= 15000/5000
= 3.00 times.
Year 2017
= 500000/10000
= 5.00 times
In year of 2016, current assets is more than its liabilities which is good, but in year 2017, current
assets is twice of current liabilities.
TASK 2
2.1 Proper actions to subdue known imperfection in concern
Weaknesses affect on organisation in quite bad manner (Storey, 2016). There are some of
the components which can become barriers or hurdles to the growth and progress of the
company. So, this is very necessary for the organisation to utilize them in very effective manner
to overcome from the weaknesses. Due to this it automatically provides the progress and
development growth to the organisation which will be quite beneficial for them. There are
several problems which is face by them in the relation of lack of maintenance, quality
mechanism, new in local market, poor awareness, quality mechanism, rise in the compensative
business in the same market. This is natural and they go through some issues so it is important to
utilize effective marketing techniques to enhance their popularity (Malhotra and Temponi, 2010).
It will also help them to address the problem which is related to the poor awareness in them.
It is so necessary for the organisation to adopt the impressive performance along with
compel the norms and rules along with this is also required. Because if they abide any or the
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norm or rule then the government of the country will take some serious action against this. And
that would be not so beneficial for the dignity and goodwill of the small business organisation.
There is some kind of degraded quality of the food material and services so for that it is too
essential to use quality for products which can be link as some other business unit provide much
good food to them. They have to maintain and make the effective marketing strategy so they
may concentrate more on the quality services.
2.2 Ways through which performance maintained and strengthened
This is significant for the baby bear nursery home so they can balance their existing
performance and they attempt to strength it. This may provide he many opportunity to raise and
run smoothly in the competitive business environment. It is important for the business to make
the changes in very positive way in their operation along with this they can intrigue large number
of people toward then which actually assist them to take stand in the new competitive market
environment. There are some of the techniques which is adopted by the company through this
they can also secure the effective position in there particular area (Lambert and Davidson,
2013). The organisation mainly adopt some of the effective tactics so on to maintain and
empower their current performance :-
Be flexible and adaptable to change :- It is essential factors for the company to accept
as well as adopt new changes in in the trending market to survive in the competitive business
market. There are various technological, up gradation, other activities and features through
which baby bear can use . Through this they can make rise in the growth of the company and for
the kids too.
Try to provide wide range of gratification to consumers :- It is the major function od the any
type of business is to provide good qualitative services to their consumer and satisfy to their
consumer.
2.3 Advice of new region of enterprise can expand
It is essential for all the business organisations to expand their business at the new level
and do progress. It will assist to the company so through his they can enhance their share of the
market and rise the advantageous profit. This baby bear company is providing many services in
the nursery. It is important to expand the business so on they can also go to the good level
although also offer ore services and facilities to their clients. There sre some of the following
area where they can expand the business are as follows :-
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Health and care centre :- They can also open the health and care centre where they can
provide many services which will be related to the health and other effective treatment. So for
hat it will be compulsory for the company to recruit that kind of people who are professional in
this stream and expert in this (Jones and Iredale, 2010). They also adopt few innovative ideas
such as treatment with playing activities.
24 hour day care routine :- If they will start and offer this kind of services it probably
increase their popularity and this will be beneficial for those couple work for the night shifts too
or who go outside of the city for the business tours. So it is good opportunity so adopt this
facility to expand their business and also strength the market.
Employ other extra curricular activities :- It will be too goo if they start other curricular
activities for the kids along with the day care routine. These will be like dancing, singing,
painting some other things. So, more and more people will attract by this theories and parents
will also encourage these centre. That will be very beneficial for them .
TASK 3
3.1 Appraisal of present business neutral and thought
There is a primary objective of the company to establish their objectives, goals
effectively. It is needed to make some assignment on the regular basis so they can figure about
about these objectives to attain this or not. This also help in formulate the new strategies and
plans to attempt such targets (Herbane, 2010). There is the main objective of this company baby
bear is to make available better services for the customers who are working. In return, the
company also maintain their dignity and try to nourish their kids well as they possibly can. The
target of the company is also affect on the growth and progress so they have to partially ensure
that their target should be smart and complete that along in concerned with the time
management.
It is responsibility of the company to feed their kids with the food of good quality and try
to provide good health environment they can go with physical growth . This firm not only
concerned with the food and their health care along with this they can also care about their
education, values, manners and other basic things they make them learn. The assessment also
provide some basic objective through which they can also attain the objective in very effective
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manner. On the other hand they also focus on their company's future and also plan and formulate
strategies for that through which they can achieve their respective objectives and targets.
3.2 Concern design to integrated proper modification
To endure in the activity its quite importan the organisation to change new trends and
culture as according to the customers. They initially research in the market, and gather all the
reviews of the customers behaviours, demands, needs, culture what they are looking for many
more (Gronum, Verreynne and Kastelle, 2012). Through all this they can accomplish their goals
and targets in effective as will as efficient way. If they will nor consider the recent market trends
then for them it will be more complicated and typical to survive in the market with outdated
technologies. There are some of the changes which arise in the environment although market is
very dynamic and it changes with in particular time interval. In this time parents prefer to go
with the education of their kids as well extracurricular activities too. It is required for the baby
bear company to adopt these such changes , so by nourishing and health care they also consider
other activities for the over all development of their kids. Initially they had very few employers
who work with them but as the requirement of the time they recruit many qualified and
professional staff at different post.
3.3 Action plan to implement the changes
Changes in the business are essential for any kind of betterment in the organisation.
There are several changes which is trending and demands to be adopt by the company so on to
cope up with the external environment . This is also responsible for prolong in the market place
these are some of the components which empower the position of the market. This is quite
significant for the company to execute some action plans so they can also admit to the current
and trending changes in various effective manner (Gorgievski, Ascalon and Stephan, 2011). The
market is very dynamic and it changes very constantly such as technological and social
development, the living standard of the people enhance in the current scenario. SO, on it is
needed for the organisation to compel these kind of changes to survive in the business
environment and make development in the business.
There are some of the elements of the plan of action are as follows :-
 To figure out the elements which can be covered.
 It is important to consult with market research scenario so through that they will improve
their company .
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 To figure out the benefits which can be accomplished through current changes by
providing sanctification to their customers.
 The company demands to implement the plan in very effective as well as efficient way by
considering the time scale which need to be complete.
 After wards considering all the above factors it is important to develop the action plan so
through this they can implement in very effective way so on like this they can achieve
their respective company targets.
Now, in the present scenario they demands for adopt new chances along with this they also
provide education as well as other curricular activities too such as dancing, singing, painting,
drawing, sports by this they can lead to develop the overall in the kids (Fassin, Van Rossem and
Buelens, 2011). They need strong and smart plan and to implement this plan accurately they
have have to acquire some of the action plans some of them are as follows :-
 Research is the basic tool for all kind of the organisations, they have to simple conduct
the market research (Chittithaworn and et. al., 2011). So, through this they got the idea
about what is trending, about consumer's attitude. Behaviour, needs, wants, demands, and
what they all are looking for and what not. This research simply gather all the data and
information.
 It is already identified, they have to concentrate on the present situation so they can
develop them as in environmental, technological, educational as well as on the other
activities.
 So, simply found the requirement and need for the other extra curricular activities.
TASK 4
4.1 Effect of Purpose relation on the enterprise and its department
They have several modification which is incorporated there in arrangement at the
particular time interval which can be positive as well as negative over the business and its
personnels.
Impact on the business
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 There are various opportunities arise when the market scenario tends to change in
concern environment. Its very critical segment for business organisation to adopt such
kind of factors although it expands the market area of the organisation into the large area.
 The is one another factor which arise in the business is rise in the efficiency. Through this
the trending occurrence company can also target the more consumers . So, on they
provide sort of great and better quality services to them by satisfy their needs and
demands. The resultant will be increase in the skilfulness and net profit.
 When the fresh elements arise in the business, it is essential for the respective
organisation so through this they impact on over their public presentation (Carraher and
Paridon, 2015). When the organisation tends to complete and fulfil their requirements of
the clients then its dignity and goodwill in the market will get enhanced.
Impact over personnel
 Employees get the mental stress due to the changes in the market although this is kind of
need for them to adopt these new variant changes. Some existing people wants to compel
these practices which following them from the prior time. When they adopt the some
latest changes somewhere it make them uncomforted along with them case them
problems too.
 To survive in the market is is important to modify their services from innovative
theories , this attract to their customers. Employees who usually work for the long time
they seems to be adopt new changes easily (Burns, 2010). This is very time consuming
process initially to understand these and then to adopt all of these changes to stay
updated.
 When the changes acquire in the organisation although it is typical for the whole
company to adjust as according to that. Some time it is quite expensive too so they reduce
the salary of the consumers while this changing environment . Due to this circumstances
the employees tend to left the job and the company have to suffer from the loyalty issues
from the workers side.
 Organisation have to sometime arrange any kind of training and development class
through this they educate,increase their skills of the employees. So on through this they
will initially learn the stuff and later ion it will be very beneficial for the company. Along
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with this they give competition in the business market with the skilful and professional
expert employed staff.
4.2 Changes can be managed in business
It is significant for the company to consider all the changes in the positive manner and
adopt in that way so which automatically improve them (Bridge and O'Neill, 2012). There are
lots of modification which is faced by the company by the accurate time so on it demands for the
effective factors, Baby bear company consider and focus on the Philip kottler's strategy in their
management some of them are as follows :-
Create sense of urgency :- It is organisation''s duty to make their employees aware by the
all new business environment changes and how they have to adopt and use in very effective and
efficient way so on which leads to the beneficial for them. To make aware the employees this
gradually demands for the good communication although they can discuss all the possible
statement of their problems.
Create guiding coalition :- they need to establish the team through which they can create
the co relation with the new adopted changes for company's profit.
Create vision for change :- It is important to analyse the vision before adopting the
change, basically this helps them to understand like what is the motive behind this alteration and
how that can resultant as the advantageous for them. It also provide them help in the
implementation in the successful way.
Remove hindrance :- So on they can remove the obstacles through this they can
consider the action of plan before the alteration. Through this communication actually helps
them, to assist the importance of the modification of the resisting people.
Communication visual sense :- It needed to accept the alteration by the all workers of
the company and it possibly do the communication so that they get the clear and transparent idea
about the change.
Flexibility :- Organisation demands for the flexibility at the time of the changes in the
market environment (Blackburn, Hart and Wainwright, 2013). So on, they will easily adopt the
various changes and carry themselves in the company. This will make their work easier to adopt
all those changes.
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Consolidate improvements :- It is responsible for the demand to accept and adopt the
improvement so on the maximum number of the support they can offer as according to the
changes they needed in the company.
Create short term wins :- When any of the organisation set the target, they basically
divide them in between the short term as well as long term goals. So, this kind of classification
help them in achieving their goals. They plan in this way like when they achieve their short term
goals then they automatically tends to go forward to their long term goals. So on like this they
can accomplish their goals and bring strong competition in the business environment.
Anchor the change :- Changes is the part of the culture although market is very dynamic
sector. So, In this sector the technologies and changes are constantly made and to survive in the
business environment company has to maintain and adopt this changes so stay updated. If any of
the company avoid these changes then very so they tend to be outdated and this will create their
loss.
4.3 Supervisor better in presentation of concern over time scale
By adopting modification and the latest modification that also helps them to empower
and strength of their business. It is basically very important to identify the factors through which
they can impact to over the business (Battisti and Perry, 2011). The baby bear company also
adopted some trending alteration with the action plan which strength to their market position.
There are some of the factors which can be used by the enterprise so they identify the
improvements :-
SWOT analysis :- This is the one of the best tactics to use this factors so on this helps to
the organisation to identify their strength, weaknesses, opportunities and threats. Through all
these, this will assist in improve the company by empower the strengths and recover the
weaknesses and threats along with grab the chances. This will lead to the benefits for the
organisation.
Benchmarking :- This touchstone can be describes a the standard through which they can
measure themselves by comparing them. This should be consider that comparison should be
made and done with the same kind of the organisations (Altman, Sabato and Wilson, 2010).
Trend analysis :- This basically price about the up comping trend of the market. Through
with the help of this they can identify and track the trends and measure the things such as how
they can adopt the trends and how this will affect all this will set by this.
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Balance score card :- This is usually measure the performance. Through this balance
score card the company identify the improvement which is done in the internally in the company
along with that also measure and calculate some kind of financial performance which make
available the techniques which can be utilized as to eliminate the major financial barrier or
hurdle in the organisation.
CONCLUSION
As according to the mentioned assignment above, it is concluded that the small business
enterprises has many opportunity through which they can expand their business. Small business
enterprises basically balance and maintain the economy of the country. The baby bear company
provide day care services and that organisation should also adopt the various trends and changes
which is in the market through that the company also increase their sales. They should also
provide the best kind and quality of the facilities apart form the health and care then this will lead
to a great benefits.
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