Small Business Management Study Material

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Small Business Management
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Small Business Management
Table of Contents
The business plan including business opportunities....................................................................................3
The entrepreneurial process .......................................................................................................................5
A) Company description: Softwire is UK based software development organization which was founded in
the 1999. In the year of 2011 cited firm has won the 3 start award in the field of small enterprise. It
provides IT solutions and internet services to the companies. It has turn over of 5 million GBP. ..............6
The characteristics of successful small businesses......................................................................................7
Consult with the primary stakeholders ...................................................................................................7
Business initiative, technologies, and policies.........................................................................................8
The benefits and potential drawbacks of owning a small business.............................................................8
Feasibility analysis and Business plan........................................................................................................10
Financial planning .....................................................................................................................................10
Cost analysis..........................................................................................................................................11
Risk and migration strategies for a business plan..................................................................................11
Role of license in small business ...........................................................................................................12
Competitive analysis, strategies and marketing tactics ........................................................................12
Business model .....................................................................................................................................13
Feasibility analysis .................................................................................................................................14
Findings.....................................................................................................................................................15
References.................................................................................................................................................16
Appendices................................................................................................................................................18
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Small Business Management
The business plan including business opportunities
The managers and leaders have to choose the plan vision and mission for the organization
because the vision is vital for every single business plan. The managers utilize the vision detail
the precise business plan to bring a legitimate thought. The business plan incorporates objectives
and goals of the organization. As per the authority style, how the organization performs in future
days is depended on by legitimate initiative style. With the assistance of the vision, managers
have individual working and coordinating techniques including the capacity to analysis the
feasibility of the business plan of an organization. Also, the different sorts of brand vision help
an organization to decide exact evaluation(Gootnick and Gootnick, 2009).
Industry analysis:
PESTLE analyses is one of the important technique through which organizations can
identify the market and can modify their operations accordingly. As Softwire is the software
development company that provides web services to clients.
Political factor: if government makes any modifications in the legislation, trade agreement them
it may affect the entire retail industry. And cited firm will have to mold its operations so that it
can work ethical.
Economic: If there is recession or inflation then buying capacity of consumers will get affected.
Apart from his their will be shortage of funds then company will not be able to offer cheaper
products. That will impact on the Softwire to great extent.
Social: Culture, belief, test preference impact on the business of the firm to great extent. If
organizations provide goods as per the need of consumers then they will be satisfy and it will
enhance sales of the company. But test and preferences of the clients can get changed any time
so to match with it corporations have to modify its products as per the needs of the users.
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Small Business Management
Technology: It is another factor that impact on the overall business of the industry. If there is any
technology in market which can enhance efficiency of the products then it would be necessary
for all companies to adopt it.
Legal: Softwire follows law and legislation and if government makes changes in any regulation
then cited firm also have to implement it in the workplace.
Environment: It is necessary that it offers environment friendly products otherwise it would not
be able to run its business significantly.
Market analyses
As Softwire offers number of web products to the consumers at affordable rates. Threat
of substitute products are very low. There are limited leading brands in this industry so threat of
new entrance is high. Bargaining power of suppliers is very low but threats of substitute
products are very high. Buyer have high power they can move to other brand easily if any other
company offer them better services.
to grab business opportunity, small business should focus on macro environmental
factors such as political, economic, social and technological factors. Each factor of macro
environment is considered in PESTEL analysis which directly influence feasibility study.
Political factor includes governmental role to expand the small business. Economic factor
includes exchange rate, GDP and currency value for new entrants of small business. Social factor
covers individual preference of customers. Technological factor covers technical improvement of
small business.
Internal analyses: SWOT analysis: it includes four parts such as internal (strength, weakness)
and external (opportunity, threats) factors for small business.
Strength Weakness
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