Analysis of Small Business Research and Management

This assignment analyzes various studies on small business research and management, highlighting the importance of social media in customer relationship management, the role of small business development centers in establishing high-value-added industries, and the barriers to small business growth. It also discusses the state of value creation in the real estate sector and provides critical decisions for ERP integration in small businesses.

SMALL BUSINESS
MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Identification of London real estate agent and reasons for choice of this firm..................1
TASK 2............................................................................................................................................2
2. Analysis of opportunities and threats of Lindsay Temple Small agent of London............2
TASK 3............................................................................................................................................5
3. Evaluation of team management and development of real estate sector............................5
TASK 4............................................................................................................................................7
4. Personal reflection on present research..............................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Real estate sector involves management which is related to property. The development of
this sector is increased with increasing rate of urbanization in state. The real estate of London is
property involve building with the natural resources, water and minerals. It is the very large
globally recognised sector. Growth and development of this sector is based on environment. This
concept requires lots of amount of investment by individuals or group of persons. The present is
based on Lindsay Temple Small agent of London which is one of the small real estate agent of
London (Storey and Greene, 2010). They are engaged in the business of dealing with properties.
They purchase particular property at reasonable rate and sale them to people who are looking for
the same at specified rate including their rate of profit margin. Agents of property are act as
mediator among purchaser and real owner of real estate. Lindsay Temple Small agent search
property then offer the same for sale or rent in London.
TASK 1
1. Identification of London real estate agent and reasons for choice of this firm.
Real estate agents are engaged in the business of dealing in property for selling and
letting. They are professional who having licence in dealing real estate sector. Those agents play
an important role in real estate transaction (Schaper and et.al., 2014). The main purpose of them
is receiving commission from both buyers and sellers. They are totally depending on commission
which is based on their ability to help clients and other people as well. Various types of duties
have been imposed on them which are depends on buyer and seller. These are the mediator
among them who advice clients for purchasing of house and set purchasing price for them. They
search house on demand of purchasers and try to meet price of house with demand rang of
people. They promote property through advertising, social networking and other forms. Agents
prepare wish list of people and try to search real estate property accordingly.
Lindsay Temple Small is the small agent firm of London (Stokes, Wilson and Wilson,
2010). The main purpose of this firm, is to deal in real estate sector and provide property to
people according to their taste and preference. The rate or price of the house must be able to
meet expectation of buyer. They play a role of mediator among buyer and real owner of the
property. They perform such activity in order to receive commission for the same from both side
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buyer as well as seller (Lee-Ross and Lashley, 2010). The rate of commission is fixed by them
only and before conducting such function they have to communicate such rate with parties.
Before starting activity, all parties are bound to comes in the contractual relationship with each
other and try to fulfil duties which are imposed on them. They have to opted various types of
methods and techniques for the purpose of aware people regarding availability of property and
prices as well. For purchasing house at reasonable price most of people are take a help of agents,
in order to confirm rate, location, facilities and many other things which are provided by real
owner of house to new buyer.
Lindsay Temple Small agent is selected for the study of present report because it is more
popular then other and having grater rang in international market (Sampaio, Thomas and Font,
2012). The cited firm is selected as small business which having ultimate control over real estate
sector. Transaction related to cited sector are done by this sector for the same purpose they
receive commission. They play an significant role in the growth and development of this sector.
The entity opted various types of policies, methods and procedure in order to attract large
number of customers and try to provide property on the basis of their level of expectation. They
provide an information regarding availability of house, services, actual rate etc. through internet,
advertisement by internet and social media platforms. Members and leaders of this firm have to
deal within the limit which are specified for them in order to smooth functioning of it. Buyers
having trust on them regarding knowledge of house which they are going ton purchase from
market. Cited firm construct its own plan and strategies for conducting activities and try to
implement them within stipulated time period (Bridge and O'Neill, 2012). Staff members have to
use their collective efforts in order to attain their long term as well as short term goals and
objectives. Use effective tools and techniques for maintain their performance in international
market. This entity positively contributes in the growth and development of real estate sector
through buying and selling of house in order to meet expectation of people.
TASK 2
2. Analysis of opportunities and threats of Lindsay Temple Small agent of London.
Real estate sectors receive lots of opportunities and threats while entering into
international market as an agent (Malhotra and Temponi, 2010). They receive various types of
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advantages or benefits through conducting business. With the help of opportunities companies
are able to enhance their work quality and performance. But entities have to use them in effective
way. It consists positive changes in competitive environment. Effective market growth can be
achieved through this process which is beneficial for them. Get ability to attract larger number of
customers and proving services according to the taste and preferences people. Opportunities are
able to having impact on the existence of firm and try to increase their performance as well in
international market. They have to avoid threats in order to achieve their set of target and
objectives as well. Because they are able to shrink market share of entity which is not beneficial
for them. Threats including increasing rate of competition, shortage of material which is useful in
the premises, economic short coming etc. The cited firm have to appoint employees who having
appropriate skills and knowledge which are able to fulfil objectives and goals of them. They are
responsible to provide effective and good quality of customer services which are attract people
and maintain performance of firm. Try to reduce competitor’s capabilities for decrease their
work quality.
Staff members of this entity are responsible to use various attractive ways of
communication in order to aware their targeted customers. With the help of this process cited
real estate firm is able to enhance their performance in international market and try to expand
their business as well (Garcia and Flannery, 2010). Opted different types new technologies and
implement them in effective way. Opportunities are considered as positive element for firm. For
the same purpose, they have to build team management. Through team working, tasks has been
divided among members and distribute between them on the basis of their skills and knowledge.
All necessary information needs to be convey to staff members in order to aware them about
regular activities of firm.
On the other hand, threats are considered as negative element for the firm. In order to
overcome them, firms have to take high level risk through which they can attain goals and
objectives. Needs to done changes in preferences of potential audiences and provide property on
the basis of their expectations and demand as well. Use appropriate methods or procedure and
implement them in effective manner (David, 2011). Have to done modification according to the
requirement of the firm.
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Also, staff members have to analyse their strength and weaknesses as well for evaluate
their actual performance in current market. Every person who is working in firm having different
capabilities in order to attain their target. Through which they can reflect in a group and increase
work quality as well. Various types of resources are available in entity, members need to use
them in effective way (Adams, Khoja and Kauffman, 2012). Try to build effective as well as
productive real estate team management. Determination of individual competences is play a vital
role in the existences of company.
Opportunities of Lindsay Temple Small agent of London.
Decreasing competition- Increasing rate of competition is able to reduce work quality and
performance of the firm. Also, it lost market positioning as well. For overcome this problem
form have to take reasonable step reduce competition from market. Real estate’s sector is
increasing day by day which enhance this level in market which is not beneficial for the existing
companies. Leaders and managers of real estate organization have to frame plans and strategies
which are able to attain their long term as well short-term goals and objectives. Use appropriate
techniques for attract large customers and try to change their set of minds as well.
New technologies- Implementation of new technologies is important part of cited small
firm. They have to complete this process in effective way. Use upgraded technologies for
enhance its performance in international market. It is considered as positive element for entity.
Effective ways of communication- The word communication is stands for transfer of
information from one person to another. There are various types of ways which are used by
companies in order to communicate their information to people. Ways of interaction that can be
use be opted by firm such as internet, advertisement, road shows etc. Information are related to
availability of property in different places (Herbane, 2010). Agents play an important role in real
estate sector. They are responsible to search property according to the rang and location of
customer. After complete searching try to interact with people in order to aware them about that
property.
International strategies- Here, strategies are framed and implement related to real estate
sector. These are international in nature in order to achieve their set of target and objectives as
well. This is the forecasting process but helpful for companies for a future time (21 Best Business
Management Tools for Small Business, 2017).
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Threats of Lindsay Temple Small agent of London.
Take risk- Real estate sectors have to take high level risk in order to expand their business
in international market (Gill and Biger, 2012). Through this process they can overcome their
weaknesses and maintain their strength in effective way. If cited firm take risk then it can able to
overcome level of fear and enhance their performance.
Legal modification- Changes in legal terms is the biggest threat for firm. Effective
changes in tax rates, rent of house of property, capital gain and so on. The term modifications
stand for some changes in existing activities and functions. Staff members responsible to do legal
modification according to the requirement of company (Business Management (Small Business
Enterprise) Foundation Degree Level 5, 2017). They have to follow rules and regulation which
are imposed as per the provision of legal terms. They are legally bound to provide best quality of
property to their customers. Try to meet expectation or demand of people.
Preferences changes of customers- Agents are work for their customers. They search and
deal of property with the real owner on behalf of their consumers. So that, if eventually changes
the preferences of potential buyer this having impact on its existences.
Changes in market- Small agents are deals in real estate market. This process having
impact on the existence of firm. Most of the modification are not beneficial for them but they
have to follow or accept in order to continue their performance in real estate market.
Positioning environment- Various changes or modifications are also created among real
estate sector. This can have impact on the existence of firm. Positioning environment is play vital
role in this sector which is beneficial for them (Heller Baird and Parasnis, 2011). Through this
process, the performance or work quality has been decreased which is not beneficial for them to
attain their set of target and objectives as well. For overcome this threat they have to use
effective tools and techniques which having impact on them.
TASK 3
3. Evaluation of team management and development of real estate sector.
Real sectors have to complete their task or goals within team work. Through this
research, it has been depicted that team management is play a significant role in real estate
sector. The work has been divided among members according to their skills and knowledge.
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Leaders and managers are bound to provide proper training to their employees and improve their
work quality as well (Goss, 2015). These sectors have to opted various types of tools and
techniques which are able to positively contribute in growth and development of company.
Higher authorities of Lindsay Temple Small agent of London have to follow plans and strategies
which are framed by them and try to implement them in well and efficient manner. Motivate
employees to perform task within team working. Through this process continuous growth and
development of real estate sector can be achieved.
Team efforts
If staff members are working as a team and use their collective efforts then they are able
to attain goals and objectives of firm in well and efficient manner (Jylhä and Junnila, 2014). For
this purpose, leaders and managers have to motivate their employees for use their collective
efforts in firm. In real estate organization, they jointly search property with the help of using
appropriate individual skills and knowledge and to communicate information related to house
property to their customers.
Benefits of team efforts are as aligned below:
 Easily search property- With the help of working in a group, members can easily
search property according to requirement of customer and communicate relevant
information to them. It can able to consume time of the company.
 Easily attain target- Through team management companies able to easily attain
their target in effective way.
 Coordination among members- When people work in a team, that time they
interact with each other and share so many views and information as well
(Falkenbach, Lindholm and Schleich, 2010). Through this process, coordination
has been improving between staff members which is beneficial for firm to attain
long term success.
The effective entrepreneurial process must be opted by them firm in order to maintain
growth and development of real estate sector. They need to frame strategies and plans in order to
meet their target. This process consists various factors and methods which are as aligned below: -
Identify behaviour of members- Understanding the behaviour of employees is important
element of company. Through this can easily maintain performance of them and able to identify
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their strength and weaknesses as well (Nieto and Santamaría, 2010). After this allot work
according to their capabilities and skills. Human factor is the main element of real estate sector
in order to search property for their customer.
Search property- The main function of real estate’s sector is searching of property in
different areas. After that communicate information to customers which are related to property
such as location, rang, facilities and much more. This process is helpful for people as well as
companies. For the same process, agents receive commission from both the parties weather
buyer or seller. The rate of commission has been fixed by agents themselves and before
conducting transaction they need to properly explain to both parties.
Comply with legal requirement- At the time of purchasing and selling of house various
types of legal requirement needs to clear by parties (Mera and Renaud, 2016). They have to
conduct payment of taxes equal to the amount mentioned under provision of taxes. Real estate
sector has to comply with rules, regulation and provision which are imposed on them as per
provision of law.
Identification of environmental factors- Both external and internal environment having
impact on the existences of firm. But real estate sectors have to identify those factors in order to
evaluate that which factor are able to maintain their performance and which are not able to
contribute in growth and development of an entity.
Framing of planning- Leaders and managers are responsible to frame plans and strategies
which play an effective role in growth of real estate sector (Hoesli and Oikarinen, 2012). Prepare
proper schedule and try to follow for attain their set of target and objectives as well.
TASK 4
4. Personal reflection on present research.
As a researcher, while researching in this report I have learned so many things which can
be used in my long-term learning process. Through this I can able to enhance my knowledge and
skills related to real estate sector. Above report is related with real estate sector and also define
function of agents. I have research so many things related to agents. Able to understand actual
function of agents. My concentration and understanding level has been increased through this
process. I used so many techniques for conducting research and gathering information related to
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topic. Team working is beneficial for the company. I can able to working in a team and try to
maintain coordination with other members. Team management skills are increased through this
process which is helpful for me in long term learning. Receiving lots of information related to
Lindsay Temple Small agent of London which play an vital role in real estate business.
CONCLUSION
From the above report, it has been concluded that real estate sectors are deals in the house
property. These are able to provide property to their customer according to their expectation or
demand. Lindsay Temple Small is the agents of London which search property on behalf of
customer in against commission which they receive from buyer and seller as well. The main
purpose for chosen of this firm is that, it is more popular than others and people aware about that.
Researchers analyse opportunities and threats of the small real estate firm in order to identify
current position and market share. Build team working among members to maintain coordination
and healthy working environment within premises. Use appropriate tools and techniques for
communicate important information with their targeted customers and aware them as well.
Growth and development of firm is based on entrepreneurial process which have to opted by
cited firm. Also conduct personal reflection on research which is undertaken in this report.
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REFERENCES
Books and Journals
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relationships within small business organizations. Journal of Small Business
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business. Palgrave Macmillan.
David, F.R., 2011. Strategic management: Concepts and cases. Peaeson/Prentice Hall.
Falkenbach, H., Lindholm, A.L. and Schleich, H., 2010. Review articles: environmental
sustainability: drivers for the real estate investor. Journal of Real Estate Literature. 18(2).
pp.201-223.
Garcia, M.R. and Flannery, W.T., 2010, July. Role of the Small Business Development Center
assistance network in establishing and sustaining high value-added industries in Latin
America. In Technology Management for Global Economic Growth (PICMET), 2010
Proceedings of PICMET'10: (pp. 1-7). IEEE.
Gill, A. and Biger, N., 2012. Barriers to small business growth in Canada. Journal of Small
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Goss, D., 2015. Small Business and Society (Routledge Revivals). Routledge.
Heller Baird, C. and Parasnis, G., 2011. From social media to social customer relationship
management. Strategy & leadership. 39(5). pp.30-37.
Herbane, B., 2010. Small business research: Time for a crisis-based view. International Small
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Hoesli, M. and Oikarinen, E., 2012. Are REITs real estate? Evidence from international sector
level data. Journal of International Money and Finance. 31(7). pp.1823-1850.
Jylhä, T. and Junnila, S., 2014. The state of value creation in the real-estate sector–lessons from
lean thinking. Property Management. 32(1). pp.28-47.
Lee-Ross, D. and Lashley, C., 2010. Entrepreneurship and small business management in the
hospitality industry. Routledge.
Malhotra, R. and Temponi, C., 2010. Critical decisions for ERP integration: Small business
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Mera, K. and Renaud, B., 2016. Asia's financial crisis and the role of real estate. Routledge.
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Nieto, M.J. and Santamaría, L., 2010. Technological collaboration: bridging the innovation gap
between small and large firms. Journal of Small Business Management. 48(1). pp.44-69.
Sampaio, A.R., Thomas, R. and Font, X., 2012. Small business management and environmental
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Cengage Learning EMEA.
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Online
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21 Best Business Management Tools for Small Business, 2017. [Online]. Available
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