Managing and Running a Small Business: Resources, Tools, CRM, Planning, and Transnational Development

MANAGING AND RUNNING A SMALL BUSINESS
Application of appropriate resources
 One of them being the financial resources
that helps to meet various funds
requirements of business and ensures that
all the resources are allocated within
various departments based on the available
budget.
 Furthermore, another most important
resources are material resources that is
essential in carrying out various operations
within the business and it mainly consists
of raw materials, machinery etc. needed to
run the business successfully
REFERENCES
Abdulkadirov, U., Lukovtseva, A. and
Osmanov, R., 2020. Development of
small business in rural
settlements. Revista Inclusiones.
pp.376-386.
Evaluation of elements of CRM
 Satisfaction
 Loyalty
 Profitability
 Customer retention
Application of relevant tools and techniques
 One of the most relevant tool that is
used within the business to allocate the
resources properly is floats that helps in
scheduling resources and overseeing the
capacity within the workplace
 Another tool that is used within the
business is Meister plan tool that helps
the company in aligning project
portfolio with the strategy of the
business.
Importance of planning and allocating resources
 It is very important that resources are
planned and allocated in proper manner so
that unnecessary cost might be avoided for
the business.
 Also, it helps in maximizing the
productivity within the business and helps
in enhancing greater employee
engagement so that greater satisfaction
might be given to all employees that are
working within the firm
Evaluation of different processes of CRM
 There is different process that are followed
in the customer relationship management
and is totally dependent upon the objectives
that business wants to achieve based on that
process is chosen.
 Furthermore, one of the common process of
customer relationships management is the
through reaching the potential customer and
devising strategies for customer
acquisitions.
 Moreover, after these two are achieved than
the firm move to convert more leads into
customers so that greater revenues might be
generated. Thus, after this customer
retention is the step that is undertaken
through innovation and lastly customer
loyalty is ensured through the delivering the
best of services.
Customer relationship management process.
 It is type of process that is used by the
business to manage the interaction with
customers and potential customers in the
future.
 Also, the first stage that is followed within
the business is through generating the brand
awareness that helps the people to know
about the brand and its products
 Also, for the cited firm this stage would help
in generating more revenues in the future.
After this step the major function is to
acquire leads that would help in marketing
and sales activities of the firm in systematic
manner
Stage model of internationalization
 This is model is used by the business so that all
the activities within the business are carried out
in systematic manner.
 Also, it includes various stages where first stage
is domestic marketing stage where the company
would test its products in its own market.
 After that there is pre export stage where
identification and selling of goods in various
market is analyzed so that identification could be
made on how the products would be sold in
target market.
 Also, after this stage there is experimental and
active involvement stage where the firm is
actually concerned towards the selling products
in international markets.
 Furthermore, last is active involvement stage
where business is involved there is commitment
where the firm is stick to operations of the
business in target market after analyzing the risk,
profits and other factors closely
Considerations small
business allocating resources
 Determining project
scope
 Identifying the
resources required
 Evaluating human
resources
 Drafting resource
allocation plan
Explanation how small business can develop
transnationally
 Availability of resources: It is very important that
adequate amount of resources in terms of funds and
well qualified employees are available with the firm so
that it is able to conduct it operations smoothly without
any problem.
 Appointed market research firm: The company had
the option of the hiring external agency that would help
and assist the firm in conducting the operation
transnational.