Small Business Enterprise Report - Takk Coffee shop

Added on - 22 Jul 2020

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SMALL BUSINESSENTERPRISES
Table of ContentsSMALL BUSINESS ENTERPRISES.............................................................................................1TASK 1............................................................................................................................................11.1 Investigate performance of small business enterprise......................................................11.2 An analysis of business using comparative measures of performance...........................2TASK 2............................................................................................................................................42.1 Appropriate actions to overcome identified weaknesses in business...............................42.2 Ways in which existing performance could be maintained and strengthened.................42.3 New areas in which business could be expanded...........................................................5TASK 3............................................................................................................................................63.1 An assessment of existing business objectives and plans...............................................63.2 Business plans to incorporate appropriate changes..........................................................73.3 An action plan to implement changes.............................................................................8TASK4.............................................................................................................................................94,1 Impact of proposed changes on business and its personnel...........................................94.2 Changes managed in Business.......................................................................................114.3Improvements in the performance of business.............................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................12
INTRODUCTIONThe business that has lower volume of sales and employees lesser number of workers isregarded as a small business enterprise. Generally, the small businesses are privately owned as asole proprietor. However, these can be in partnership as well. Obtaining the status of a smallbusiness enterprise requires a firm to fulfil certain norms (Bridge and O'Neill, 2012). The presentreport is based on Takk Coffee shop which is a small business enterprise in UK. Being famousfor the finest quality of coffee, this restaurant offers a variety of products and services to thecustomers. This report cover, different areas in which coffee shop is preferred by the people.Further, it covers the weakness or the issues that has to be taken into consideration so that theperformance rate can be improved.TASK 11.1 Investigate performance of small business enterpriseCafe coffee shop Takk Coffee shop was established in 2009 with aim of providingeffective and efficient products and services to all consumers. It is located near Stratford Collegeand Westfield Shopping Centre. It provides fresh products and services to every targeted groupwhich helps them to enjoy their free time with friends while studying or hanging out.SWOT Analysis:With the help of SWOT analysis, a small business is able to undertake its first stage of planning.It further assists the decision makers in laying emphasis on the major issues and concerns oforganization. Hence, it serves as a useful method for a small business during formulation ofstrategic plan.Takk Coffee shopneeds to analyse its internal factors namely, strengths andweaknesses. It is equally important for the coffee shop to explore the external factors such asopportunities and threats. Being quick and easy to use, SWOT provides help to the business indealing with completive environment.Strengths of Small Business EnterpriseDue to its small size it has been in direct contact with various types of persons whohelped in developing business operations.It has kept a consistent effort for innovation. They are ones who have been directlyinvolved in bringing creativity and innovation and changes as per marketingenvironment.1
Due to small size, Takk coffee shop is capable of monitoring all the employees regardingtheir benefits and motivating them to help firm in developing operations at highest level.It has strong commitment on providing effective and efficient products and services tocustomers and also resolving their quarries at best level.Weaknesses of Small Business EnterpriseIt has a thinking process which always remains static. It means that company always triesto think over small operations only.It has no access to capital marketplace . This is due to their small business operationswhich enables them to be restricted from bigger markets.It always faces problems regarding succession, growth and enhancement. This is becausethey have slower and a small plan of action which restricts its planning progress.There occur to be various types of difficulties on management front which generatesconflict among families and hampers growth and development.Opportunities of small business enterpriseFor developing effective and efficient products and services company should analyseexternal factors that are essential on part of generating profits and gains.By investing in more developed country growth of firm will be high.More investment in country will help firm to expand its business operations.Threats of Small business enterpriseCompany needs to analyse various policies developed and generated in home and hostcountry.Development of new technology will create a constraint as they require lots of finances tobuy and learn new upgraded versions of business models(Burns, 2010).1.2 An analysis of business using comparative measures of performanceCafe shop has a contact and link at small level with set of goals and objectives which arealso small. When organization are small then level of operations are also smaller which indicatesthat all of its operations are working effectively and efficiently (Stokes, 2011) . But to analyse itsfinancial position company has to do various types of ratio analysis which will provide themlevel of performance of company in marketing environment.Takk coffee shop Profit and Loss Account for year ended 30 April 2016 and 30 April 20172
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