Small Scale Industries ( Nisa ) | Assignment
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Added on 2020-02-03
Small Scale Industries ( Nisa ) | Assignment
Added on 2020-02-03
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Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Profile of the company..........................................................................................................31.2 Analysis of the business using measures of performance.....................................................4M1...............................................................................................................................................5TASK 2............................................................................................................................................62.1 Recommendations to Overcome the Weaknesses.................................................................62.2 Ways in which existing performance can be maintained......................................................6M2...............................................................................................................................................72.3 Areas in which business can be expanded............................................................................7TASK 3............................................................................................................................................83.1 Assessment of existing business objectives and plans..........................................................83.2 Appropriate changes in the business plan. ...........................................................................8D2................................................................................................................................................93.3 Action plan to implement the changes..................................................................................9M3.............................................................................................................................................10TASK 4..........................................................................................................................................104.1 Impact of the proposed changes on the business................................................................10D1..............................................................................................................................................114.2 Managing the changes in business.....................................................................................114.3 Monitoring of improvement in the performance of the business........................................12D3..............................................................................................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONSmall Scale business are the backbone of any economy and we know thatalmost every businesses starts with a small turnover but as the time progress it growsinto a large capital firm. It can be classified on the basis of number of employeesworking in it, its turnover, its operations and its area. Every country has its own way ofdefining these industries like a big company in Egypt may be called as small scale inUnited Kingdom depending upon criteria set by bodies that control the activities ofcompanies. There are various factors on which its growth depends like what are itspolicies, what strategies they are adopting are what marketing trends they are following(Bridge and O'Neill, 2012). Almost all the small scale industries come with an purpose ofmaking a change in the society through their innovative strategies. NISA is a companywhich is selected for this assignment, it is a company who buys the products of differentbrands and sell them in their stores located in various parts of United Kingdom. Inreference to Nisa small scale industries functions, marketing mix, strengths,weaknesses, their business plan and how they can monitor their growth. All theassignment will be revolving around this and how it impacts the economy of a nation. TASK 11.1 Profile of the company.The small scale company named as “Nisa” needs the services to grow itsbusiness. It is a UK based retail company who owns grocery stores and wholesalemarket in the country. Founded in 1977 by Peter Garvin he was a Yorkshire basedretailer. Currently it has net worth of £30 million and has employed 213 people (Burns,2010). The objective of Nisa is to sell the items related to day to day life which they buyfrom other brands or has its own label groceries and household items. Nisa has to facea lot of competition from its competitors like Asada, Budgens, Debenhams, Sainsburyand etc.Nisa wants to injcrease their profits by the end of 4 months so they come outwith a plan which will include all the staff of first floor. They try to divide his teams intofive categories based on the retail goods in the store. Division of the teams are done onemployees past and current sales reports. A regular training period of 8 days are doneto make the sales man aware about the techniques to increase the sales. After the
training session they comes up with a project plan to increase the sale up to 15% at theend of 4 months. So talking about the practical approach of SMART objectives we couldconsider retailer's plan to increase sales up to to 15% in 4 months so this will beSpecific. This is achievable through involvement of the different departments and theproject goal is based on the reports and data prepared. The target which is set is totallyrelated to business and are not pulled out from some unknown sources, this will come inRealistic approach. Time has been set for this target. Almost every company hasstrengths and weakness, so to find out those a SWOT analysis can be done. It definesthe internal and external factors which are responsible for the growth of a firm (Ward,2016). Here we will only be discussing internal factors like its strengths andweaknesses. Strengths:-It has skilled labours.High growth rates.Barriers of market entryReduced labour costs1080 Registered shareholders 4000 storesWeaknesses:-Normally it buys most of the products from different brands so quality control is aissue.Unorganized structure Production not up to the mark or demandNISA could identify or could check their performance through analysing themarket share of their company and other ways they can go for is to carry out surveys(Osterwalder and Pigneur, 2010).1.2 Analysis of the business using measures of performance.Performance management is the way through which performance is measuredand certain steps are taken to maintain it. Performance of the company can beexamined through inspecting and reporting the company markets and how its share isperforming in the market. (Cavalcante, Kesting and Ulhøi., 2011). Quality of the
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