Impact of Business Strategy on SMEs
Added on 2020-02-17
14 Pages3849 Words132 Views
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Small BusinessEnterprises
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................31.1 Strengths, weaknesses, structure, mission and goals of the small business enterprise....31.2 Analysis of business using comparative measures of performance.................................5TASK 2............................................................................................................................................52.1 Recommendation and justification to overcome the identified weaknesses in business..52.2 Ways in which existing performance could be maintained and strengthened..................62.3 Recommendations for the expansion of business.............................................................6TASK 3 ...........................................................................................................................................73.1 Assessment of existing business objectives and plans.....................................................73.2 Revise business plans to incorporate appropriate changes...............................................83.3 Prepare an action plan to implement the changes............................................................9TASK 4..........................................................................................................................................104.1 Impact of proposed changes on the business and its personnel......................................104.2 How the changes will be managed in business..............................................................114.3 Monitor improvements in performance of business over a given timescale..................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTION In the modern time, small business enterprises are important at the small level ofbusinesses. Small business enterprise of Unicorn company is that enterprise in which smallnumber of employees are works and does not have high sales on the products and services. TheUnicorn company is that company which provides the grocery items to their existing and newcustomers. Present report contain all relevant information of small business enterprises likes,about the small business enterprise and its strengths and weaknesses. What types of comparativemeasures of performance business using and the ways in which existing performance could bemaintained and in which area, business could be expanded. It has been also mentioned about theobjectives and plans of existing businesses and business plan to incorporate appropriate changes,action plan business need to implement for changes and changes will be managed in businessand also explained about the monitor improvements in performance of the Unicorn company. TASK 1 1.1 Strengths, weaknesses, structure, mission and goals of the small business enterpriseThe unicorn company is one of the popular small business enterprises in UK. It is a typeof grocery company which -provides the grocery items to their consumers. It is the privatetechnology and present valuation of the 1 billion dollar. There are some strengths andweaknesses of the small business enterprise. They are given below:Strength of small business enterprise: The organisation need to implement the effective strengthfor their company and consumers. The strengths are:Direct sell out the product: The one of strength of small business enterprise is to providethe goods and services directly to their existing and new customers. Direct sell of productis one of important strength for the small business enterprise.
Greater flexibility: Flexibility is also one of the strength of any kind of the organisation.If small business enterprises have flexibility then in that case, they will not stop for theoperation without any problem. Weaknesses of small business enterprise: Weaknesses are the internal factor of any kind of theorganisation and it affect the business internally. There are certain weaknesses of the smallbusiness enterprises (Burns, 2010). They are followings:High direct cost: High direct cost is one of the weakness of the small business enterprisebecause in the case of the high direct cost, the small business enterprise is not able topurchase the raw materials and machinery etc. Lack of credibility: In case of the credibility, the small type of business face manyproblem related to their goods and services because, the customers are well known aboutthe large company's product then in that case, they do not purchase any kind of theproduct from small business enterprise.Financial limitation: In case of the financial limitation, small business enterprises are notable to produce the large production of product because they has not sufficient finance forlarge number of production. Structure of Unicorn grocery company:Functional structure: This structure consists different activities like, coordination, taskallocation and supervision and helps in examine that how the enterprise can performs. There arevarious organisational functions such as marketing, production, accounting and human resources.With help of this, an business producer can provide similar product and services at low cost. Scope: Unicorn grocery provides fresh, dried and processed drink and food and focus onthe fair trade and local sourcing as well as grocery items, body care and household items. It isone of the largest groceries in UK and its annual turnover approx 7 million.Mission: The mission of Unicorn grocery is to provide affordable and natural ingredientsto their local community members. The principles laid by unicorn must be considered carefullyin order to achieve the mission. Goals: Organisation have to expand their business in international market for sellingdifferent products and services at a reasonable price so that they can earn maximum revenue.
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