Managing a Small Hospitality Business

Managing and
Running a Small
Business

Table of Contents
INTRODUCTION ..........................................................................................................................4
TASK 1............................................................................................................................................4
P1 What are the main things which need to be address by the small and social enterprises,
when they are planning and allocating for resources in order to achieve the goals. ..................4
M1 Apply tools in order to plan and allocate the resources in relation to organisation.............7
M2 Discuss the significance of allocating the resources in order to attain the objective:..........7
D1 Critically analyse the application of appropriate resources in order achievement of the
business objectives: -...................................................................................................................7
TASK 2............................................................................................................................................7
P2 Explain and evaluate different process of customer relationship for a small business or
social enterprise...........................................................................................................................7
P3 Improvement of local enterprise to a transnational Business.................................................9
M3 Evaluate the elements of customers relationship management process in order to attain the
goals...........................................................................................................................................10
M4 Evaluate the transitional operations by utilizing the stage model of internationalisation...10
D2. Give recommendations to overcome from the challenges of developing transnational
operations. .................................................................................................................................11
TASK 3..........................................................................................................................................11
P4 Make an yearly itemised monthly cash flow forecast display fixed and variable costs set
against income...........................................................................................................................11
P5 Discuss how break-even analysis could be implemented in organisation...........................13
P6 How key financial statements contributes to the success of the firm. .................................15
D3 Bydoing critical evaluation make a right cash flow forecast and break-even analysis how
these financial statement contribute to the success of the firm. ................................................18
TASK 4..........................................................................................................................................19
P7 Discuss key laws and rules which impact on the small businesses......................................19
M6. In relation to an organisation discuss the implications of key laws and rules....................20

D4 Discuss the key legislation that has an impact on small businesses....................................20
Conclusion ....................................................................................................................................20
REFERENCES..............................................................................................................................22

INTRODUCTION
Small businesses and start-up plays a very important role in improving or enhancing the
economic condition of the nation that is why these are considered as the base line of the nation
economy. These business enterprises are considered as an integral part of the United Kingdom as
they assist in maintaining the economic growth rate of the nation (Steingold and Steingold,
2021). That's why different types of initiatives as well as policies are formulate by the
government of the nation in order to support the small businesses and start-up. The following
report is based on AMD consulting group which was founded in 2019 and the company office
are located in London. The respective company deals in different types of services like customer
acquisition, lead generation, engagement of customers and many more. The following report is
going to discuss about, how the small and social enterprises plans and allocate all their resource
in order to achieve achieve their goals. This report also covers the customer relationship
management process with its benefits and challenges for the small business and social
enterprises. Afterword, this report develops a cash flow forecast, break even analysis and budget
and examine the key financial statement. In this end this report discuss the implications of
regulation on the small businesses and social enterprises.
TASK 1
P1 What are the main things which need to be address by the small and social enterprises,
when they are planning and allocating for resources in order to achieve the goals.
As per the present scenario, it is being determined that small business or social
enterprises plays a very important role contributing in the growth of the economy. These
enterprises are considered as a significant part of economy as they contribute around 47 % in the
Gross Domestic Product of United Kingdom (Engelhardt and Möller, 2021). But still these
enterprises don't get the right direction which directly impact on their performance. It is very
important, to give the right direction to them so that they can easily expand their operations and
contributes more towards the economy. According to the research it has been identified that
these small scale businesses are basically privately owned enterprises in which there is no
inclusion of state authorities. They have private owners who possess limited or unlimited
liability.

These business enterprises not only assist in improving the productivity or growth of the
nation but also helps to shape the economy of the UK. As business environment is very dynamic
in nature that is reason that different types of problems and complexities has faced by them. It is
very essential for the organisation to develop the different types of strategies and take the
different pro corrective actions which assist them in overcome from the different challenges and
attain all the targets effectively. The main considerations which assist the small business or
social enterprises in overcoming form the upcoming challenges has been discussed below: -
Planning: - planning is being considered as one of the most vital and primary function which is
done by the management of the company. Basically they make the blue print of all the functions
that will be performed in future. This written document is considered as the most significant
element which management have to taken into consideration while running the small business or
social enterprises (Costin, O'Brien and Slattery, 2018). If the company management wants to
attain a successful position in the market then they need proper planning which assist them in
achieving all their set objectives in effective manner. It is very important for the management of
the firm to do the proper and effective planning in order to achieve the targets. How planning
assist in attaining the set target has been discussed below: -
 Right direction as well as the correct information of the pre-determined goals is given
by the effectual planning. With the help of this planning the management as well as the
employees of the organisation effectively understand their roles and responsibilities.
 As every entrepreneur knows that the business environment is very dynamic in nature. If
flexible planning is made by the company, then they can effectively face the upcoming
uncertainties.
 If proper planning is done by the company, then this give right direction to the employees
which assist them in achieving all the goals of the organisation which are set by the
higher authorities.
 Proper planning also assists in increasing the productivity of the employees because with
the help of effective planning goals as well roles of the employee has effectively defined
to them.

Resource allocation:
If the resource requirements of the small business or social enterprise are fulfilled, then
they can do all their functions in a very effective manner. Resource may be raw material,
employees, land and building, plant and machinery, money and many more. These resources
play a very important role in achieving the set goals of the company, because without these
resources the management of the company cannot perform their business functions properly
(Winkler, 2022). For example, like without money the small business can't be able to purchase
the land and building or raw material and without workers they are not be able to produce a
single. So, it is very important for the management of the small business enterprises that they
have to take care of the allocation of resources. How the proper allocation of resources assists in
achieving the organisational objectives has been discussed below: -
 The success of the firm is to totally depend on the effective allocation of resources. If
their is availability of raw material and other resources then small business can not stop
their working which result in that they continuously work on their goals.
 If proper allocation of all the available resources are done by the company properly then
they can do all their business functions in proper manner.
 If raw material are available in adequate manner then workers of the organisation don't sit
ideal which result in increasing their productivity.
Other important considerations:
The above two consideration which have discussed is very important for the
sustainability of business in the dynamic business environment and competitive market. Their
are many other things which need to be considered by the management of the company in order
to achieve successful position in the market and attain all their objectives (Schubert, 2022).
These are nature of the business, size of the business, government rules and regulation, corporate
social responsibility and many more.
The above discussion state that, planning as well as effective allocation of resources is
very important. It is very essential for the management of the organisation to considered these
consideration in order to achieve the set targets. Inside planning and resource allocation there are
certain more factors which need to be keep in mind by the company management. Planning