Report on Strength and Weakness of Small Business Enterprise

SMALL BUSINESS
ENTERPRISES

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Profile of Caffe Finix and identify its strength and weaknesses...........................................1
1.2 Comparative measures of performance.................................................................................3
TASK 2 ........................................................................................................4
2.1 Justify the methods to overcome from weaknesses..............................................................4
2.2 Examine the ways of maintaining existing performance......................................................5
2.3 Recommendation for new areas of business expansion........................................................6
TASK 3............................................................................................................................................7
3.1 Assessment of business plan and objectives.........................................................................7
3.2 Revision of a business plan...................................................................................................8
3.3 Develop an action plan..........................................................................................................9
TASK 4..........................................................................................................................................10
4.1 Impact of changes on business ...........................................................................................10
4.2 Plan for managed changes...................................................................................................11
4.3 Monitor performance of improvements..............................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Small business enterprises plays a very vital role in growth and expansion of society.
They are established in market in order to provide something new and innovative to people for
increasing their profits and sales. Those start-ups which survives for long span of time are
capable to provide economic stability to their owners. Along with this, SME's are helpful in
creating job opportunities for the people for generating a steady source of income to the lower
section of society. Such entities are implemented with an aim of change the whole world by
supplying unique products to customers (A. Harris and P. Patten, 2014). Caffe Finix is the
chosen organisation in this present report; it is small coffee shop and situated in local area of UK.
The main aim of the company to become popular among customers by providing them good
quality of products. Apart from this, the report will be describe strength and weaknesses of small
business enterprises. There is given some methods in order to overcome with barriers. The report
will stated that owners have to prepare an effective business plans and objectives for achieving
their goals and objectives in a certain time schedule. Impact of proposed changes on firm's
functions and activities will be also dictates in this assignment.
TASK 1
1.1 Profile of Caffe Finix and identify its strength and weaknesses
In this competitive environment, several small business enterprises have achieved growth
and success in a short span of time. Caffe Finix is known as local SME that is famous between
localities of United Kingdom. It supplies finest quality of coffee products and further effective
services. Along with this, the business enterprise has variety of food products that is accessible in
attaining and retaining for long term. Basically, its is emphasis upon pricing strategy and follow
up all quality measure; this is the prime reason of its popularity in UK's local market. It serves
food items and various drinking beverages to the people of all areas so as to boost up sales and
make higher profits (Altman, Sabato and Wilson, 2010).
Apart from this, the owner of this entire association was started this business in very
limited amount but now it is become a successful and precious coffee shop in local areas of
United Kingdom. It is a first choice for coffee lovers who does not want to spend more money.
In addition, Caffe Finix is developed its overall interior in order to render an extraordinary
experience to people. Lightings and furniture that is used in the shop, is very precious and
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impressive. Whenever a customer enters within the shop, he or she is treated in well being
mannered by the staff members of the enterprise.
SWOT analysis of Caffe Finix
It is essential for the managers of small business entities to regularly analyse those
internal that will affect their entity in future. This can be done through SWOT analysis; it is
assistive in formulation of an active business strategy. Below mentioned SWOT analysis of
Caffe Finix: -
STRENGTH
 The firm is totally customer focused, so
that it provides qualitative and value
added products to its customers for
increasing sales.
 Low bureaucracy and informal working
environment.
 Innovativeness with an aim of giving
something new or novel to the society.
 Flexibility and adaptability to accept
environmental changes (Teece, 2010).
 High visible top management, therefore
all business operations can be managed
in a systematic manner. More responsiveness towards market
trends and needs.
WEAKNESSES
 Resource constraints.
 Lack of personal and technical skills
 Lower job security and market
standardisation.
 Less strategic thinking as well as
planning.
OPPORTUNITIES
 Supported by the government through
various subsidies and financial support.
 Brand expansion and diversification.
 Franchising and strategic alliances is
helpful in increasing sales revenue. Emerged with large business entities.
THREATS
 Environmental changes
 Rapidly increasing the number of
competitors.
 Political instability and strict laws.
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