Report on Small Business Enterprises - Nisa Retail Limited
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Added on 2020-06-04
Report on Small Business Enterprises - Nisa Retail Limited
Added on 2020-06-04
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Small business enterprises
Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................41.1 Small business with its strengths and weaknesses................................................................41.2 Comparative measures of performance.................................................................................5TASK 2............................................................................................................................................62.1 Appropriate actions to overcome the weaknesses.................................................................62.2 Different ways to improve performance...............................................................................72.3 New areas where business expanded....................................................................................8TASK3.............................................................................................................................................93.1 Business objectives and plans...............................................................................................93.2 Business plans to incorporate appropriate changes.............................................................103.3 Action plan to implement the changes................................................................................11TASK 4..........................................................................................................................................124.1 Impact of changes on business and its personnel................................................................124.2 Changes managed in the Business......................................................................................134.3 Improvements in the performance of business ...................................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................16
INTRODUCTIONSmall business organisation owned by any individual, partnership, corporations or soleproprietorships that have less employees and less annual revenue to achieve certain businessgoals. Small organisation are formed to earn income by utilizing optimum resources at rightplace (Valdiserri and Wilson, 2010). Nisa retail limited is owned by its independent memberswhich formed in 1977 and its headquarter is situated in Scunthorpe, North Lincolnshire. It isbuying group or a Brand of wholesalers and independent retailers in the United Kingdom. It ismutually organised organisation owned by its members to negotiate deals with suppliers to makeincome. The company operate under one of four symbol fascias I.e. Nisa extra, Nisa local,Locoand Nisa extra branded which help their member to maintain their true identity (Fassin andBuelens, 2011). It provide different range of product to ensure they can give a single destinationshop to their customer's needs. Company have delivery benefits to grow their organisation incompetitive market place.TASK 11.1 Small business with its strengths and weaknessesNisa retail limited was founded by Dudley Ramsden and Peter Garvin. It was earlierknown as Nisa Today's Ltd. and changed its name in October 2012 as Nisa retail limited. It wasformed in 1977 in Scunthorpe,UK (Malhotra and Temponi, 2010.). The company operates over4,000 convenience stores, including all Cost cutter brand stores. It also provide supply benefits toindependent retailer in drink and food markets in the united kingdom.Nisa have large nationalchain of convenience store which are independently owned.It offers rice, liquors, biscuits,coffees, bathroom sprays, popcorns, jellies, beers, kitchen sprays and so on products to theircustomers.Strengths:Nisa have high growth rate by providing different range of products and services to theircustomers which give single destination shop according to their need and expectations. It isexperienced business unit as it operates so many stores who supply good services in the marketplace which are independently operate by retailer. Company have strong sales network andexisting distribution which supply their goods timely to fulfil customer's expectations and wants(Ehnert, Harry and Zink, 2013). It creates barriers to market entry for other company or brand who
want to come in market. Company have diversification which reduces the overall risk as theirthey provide many variety of products to their customer which help to maintain their stabilityand growth rate in market place. Firm have excellent staff with good knowledge of existingproducts who help in crease their sale and they try to create good relationship with customerswith the help of their good internal communications (Stokes, and Wilson, 2010).Weaknesses:Every company have some weaknesses it can be business lacks or restriction to ability toachieve business targets. Company use their weaknesses as a strong element of success bymaking strategic planning process known as SWOT analysis,which includes strengths,weaknesses, opportunities and threats of the company which help company to make good planfor growth. In many cases, weaknesses helps in making improvements to achieve organisationalgoal (March, J.G. ed., 2013). Nisa company have large structure around 4,000 convenience storesso company have face difficulty in creating high quality products. They need huge money inmaintenance of all stores and they have less financial resources. Need high cost of business tooperate their all stores and face difficulty in maintaining their all cash inflows and outflows.1.2 Comparative measures of performanceIn Nisa company there is around 213 employees working in the organisation companyenhance their performance achieve organisational goals. Performance measurement is importanttools to understand or find the status of employees performance in the company.Businessperformance will continuously measure by the company to keep focused on the strengths andweaknesses of business. Company collect the information regarding the performance ofemployees to see whether output are in line or not. There are different tools of measuringperformance of employees in the company. These are as follows:Customers satisfaction: In today's time customer is more demanding it is important toprovide product according to the demand and need of customer. They are important ingredient toget success in business market and to measure performance of organisation whether theorganisation fulfil customer's expectations or not (Michaelidou, Siamagka and Christodoulides,2011). Customer satisfaction is all about customer experience that result in quality attributions.Quality audit: It is useful technique to measure performance of employees inorganisation. Quality audit is systematic way to examine the quality of product is good or notaccording to the planned arrangements. Quality management system is important element of
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