Entrepreneurship & Small Business Impact

This assignment delves into the crucial role of entrepreneurship and small businesses in shaping economic landscapes. It encourages students to analyze the multifaceted impact of these entities, examining factors that contribute to their growth and success while also addressing the challenges they face. A range of academic sources provide insights into the complex relationship between small business activity, economic development, and social implications.

UNIT 33
SMALL
BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION ..........................................................................................................................3
Task 1...............................................................................................................................................3
1.1 Business profile of Talon Outdoor Company:-.....................................................................3
1.2 Analyses of business using comparative measures...............................................................4
Task 2...............................................................................................................................................5
2.1 Appropriate action to overcome identified weaknesses .......................................................5
2.2 Analyses the way to maintain performance .........................................................................6
2.3 New area the business could expand ....................................................................................7
Task 3...............................................................................................................................................8
3.1 Business objective and plan .................................................................................................8
3.2 Revives the business plan with incorporated changes .........................................................9
3.3 Prepare plan for changes.......................................................................................................9
Task 4.............................................................................................................................................11
4.1 Impact on preposed change in business .............................................................................11
4.2 Change will be mange ........................................................................................................11
4.3 Monitor improvement of performance................................................................................12
Conclusion ....................................................................................................................................13
Reference.........................................................................................................................................1

INTRODUCTION
Business development skills help to determine effective activity to set up the organisation. In this
way business environment help to different planing activity to solve business issue and
development of nation. In this context present report is based on the TALON OUTDOOR
company (Smith and et.al 2016.). This company basically located in United Kingdom and
provide different kind of services in IT sector. With this regard report assist to focus on out door
media planing and buying. In this report company is to be focus on expansion of activity in new
field. Moreover, it helps to all IT companies in different location and different fields
Task 1
1.1 Business profile of Talon Outdoor Company:-
Talon outdoor Ltd. Was founded in 2007, the company product and services is
advertising and market services. It is an important player in out of home department sector with
we centring on delivering smarter, inventive, technology lead and mingled of transmission.
Combining autonomous with a cooperative approach we encourage open working between
department, medial, client/inventive partner, combining an alliance on data, insights, automation,
smart planning and creativity (Cassar, G and et.al 2015). We are skilfulness in several aspects
which is technology – a assorted approach routed in automation and segregation and another is
planning and client services- dedicated thinking and professional solution, strategy – cleaver
thinking that is fully integrated into the communication planning, insight- understanding and
activating data around people, tech and environment, Investment- impulsive value and
commitment to your strategy.
Management senior thinking and collaboration that is different and supportive,
international- global international OOH and airport planning and purchasing expertise. Creativity
and innovation- driving the best in the market creative solution (Abebe and et.al 2014). We are
working closely with many customers and media owner in hand over the most advanced,
cardinal and cost effective media solvent to our customers. We also have close imperative
relationship with a number of productive partners and with the media agencies.
Strength:- small business have the biggest strength is they have a local shop which is easy to
established in the local area. Another is they get the benefits of the local communities and you
can participate the all the activity and all other issue same like before (Dewald, W.G and et.al

2017.). You have get the higher income average level from and less income inequality, you have
lower poverty level, small business enjoy a significant advantage in their ability to evolve rapidly
to react quickly to development in the marketplace. They can also get the customer feedback on
the face to face.
Weakness- Consumers are using the internet to research companies, find their contact
information and brows their inventories. Some traditional work of the company not on the online
procedure like found in social networking and websites so it is hard for potential customers to
find them. Small business lose their customer if they are using online mode to dealing (Dewald,
W.G and et.al 2017.). Small business have a big competition like better branding and better
reputation in they market where many of like them a big competitor are already exist there to
give the all these services. Established reputed companies have large number of customers and
market share it would be the most weakness to the small business.
1.2 Analyses of business using comparative measures
In the business of marketing and advertisement is one of the most important to maintain
technology in the field of advertisement. Therefore, it can be measurement or can say
comparative analytical measurement is the best tool to analyses different aspect of organisation
problems. This tool is help to overcome of organisation profit and loss in organisation. It is help
to complete analyse of performance in market. In this context some important measurement is
help to analyse different sector is help to maintain working environment are as follows :-
 Ratio analyse :- In respect to assist the cash position is organisation. Talcon outdoor
company is focus on to maintain the relationship between cash inflow and out flow in
organisation. Liquidity is most important factor in organisation. It helps to accomplish
goal and objectives in organisation (Brustbauer and et.al 2016). In the best way,
organisation is help to maintain growth in market and help to maxim revenue and profit
in organisation.
 Financial statement of the company :- The company is to be focus on different aspect
or organisation performance. In this way, financial statements of the company is help to
shows performance through financial year. Financial analyse is help to asses balance
sheet and other statement in organisation (Brustbauer and et.al 2016). With the help of
financial statement, it is help to maintained profit and growth in organisation. In respect
to measure this statement is help to evaluated the company lack of profit.

 Feedback form customer :- The company growth in market is depended on customer
response in market. It this way, feedback of customer is show the satisfaction level of
customer in different market. This is help to maintain growth rate and satisfaction level in
organisation (McAdam, M and et.al , 2014). Feedback is help to improve company
performance in market. With the help of feedback talon outdoor company is improve
internal as well as external performance in organisation. In this context feedback from
customer is help to company performance.
Task 2
2.1 Appropriate action to overcome identified weaknesses
In this way, Talcon outdoor company is to be focus on appropriate action is help to remove
weakness in organisation. In odder to develop effective functioning small business enterprise is
operated their operation in significant meaner. In this way, they can take many difficulties in
organisation performance (McAdam, M and et.al , 2014). The company is work in the field of
technology. In the filed of technology, Due to less skilled members, the firm unable to delivered
productive outcomes in the products and services. In organisation poor communication among
people is also create some issue on working condition.
 Make a new segment area in market :- Talon outdoor company is to be focus on new
segment area in marketing. It is help to increase growth rate in organisation. It is an more
unquiet way to overcome issue. It is help to attract more customer according to
segmentation. In market segment company is focus on particular group in market. In
market segmentation is help to increase growth rate in organisation. At the new area of
market, company is to be use new method to increase customer traffic and focus on
satisfy customer in organisation (Smith and et.al 2016.). With the help of market
segment company use different operation to target market. This will help to increase
growth rate in marekt and achieve profit in market.
 Effective management :- In organisation effective management is help to increases
profit in organisation. In this way, talcon outdoor company is take action in the work
place to mange work effectively in organisation. In organisation taking new action is
help to the growth rate in organisation. With the help of proper management is solved

any issue in organisation. In this way company is to be focus on different function in
organisation and each function is give different role in organisation.
 Proper training to employees :- In organisation is improved employees training, it is
help to improve internal performance in organisation. In this context, organisation is
provided training to the employee (Mason and et.al 2015). It is help to increase profit in
organisation, this help to make changes in organisation.
2.2 Analyses the way to maintain performance
There are several ways for talon outdoor company to maintain their existing performance
and strengthen. Rekindle your relationship with your customers take time to get touch with your
customer with your existing customer whether by phone, email, or letter and contact your
customer to communicate them (Mason and et.al 2015). Resolve to improve your weak point
have analysed of your all business operational activity and make a list to improver the areas and
then find out the problem and make an appropriate solution for them.
Keep your employee involved to your business activity good employee is hard to find,
they are important component in your business. Identify the needs of their to have a great
performance in the organization that make the great improvement for the company performance
and also find out how can you live more life in the market, find the weakness and also have a
look on the latest trends and technology that are going on in the market that all are helps you to
maintain their vale and relationship with your customers that give you a high performance and
cost effective result for the company (Yicheng amd et.al 2014). Before you go for the company
growth strategies, it's important to ensure that your business is going well and efficient, while
you can spend more time and resources to developing more time and strategies to make sure that
your core business is still performing well .
It's important that not to neglect your existing customer base as they will underpin your
growth and furnish the cash flow you will require during these steps. Timing is critical part to the
success of any growth strategies. Talents don't become strengthen unless they are associate with
the skill, knowledge and final crucial elements practices (Romano and et.at 2015). For
strengthen your company need to know that could your business cope with expansion or it is
working with full capacity. It depends on could you have the resources and system in palace to
carry on your existing business while targeting expansion elsewhere that all raise your strengthen
in the market for the company talon outdoor.

2.3 New area the business could expand
In organisation company is to help to expand a new area of business. At the time of expansion
company is to be focus on different aspect of market. In this context, talcon outdoor company is
need to implement in expansion of new area (Romano and et.at 2015). At the time of expansion
in new area, take some important decision in organisation. It is help to expand the business in
organisation. In such way following some strategies to choose new area in same market.
Strategies are as follows :-
 Add new product and services in organisation :- It is most important to factor to
introduce new services is market. It is help to increase profit of the company. With the
help of new services the company is to be focus on different kinds of services in
organisation (Carter and et.al 2015). It is help to expand the business in different kind of
services in organisation. In organisation new product is help to expansion of serves in
organisation. New product is help to growth rate increase in organisation.
 Expansion in the new territories:- In such a way company is to be used to add new
product and services in new area. This is help to increase product and serveries in
organisation. Talcon outdoor company is expand there services in Scotland. In this
context company is to be focus on expand market in different location. In such a way the
location is Scotland (Duncan, and et.al 2015). It is the best way to conduct research work
before expansion. Research work is help to expansion of different kinds of serveries in
organisation.
 Target of new customer :- In such way target new customer in market. It is help to
expansion of activity. The company is expanded new market in Scotland. In this location
company is search new customer and use new technology in organisation. It is help to
expand the business in organisation (Cowling and et.al 2015). At the time of expansion
new location use new strategies is to be used in new market. In addition to this, it also
supply according to psycho graphic elements such as interests, activities and values as
well.

Task 3
3.1 Business objective and plan
In organisation one of the most important factor is objective and plan of organisation. It is help to
analyses different kinds of services in organisation. In order to develop effective function and
operation, objective and plan to make business successful (Duncan, and et.al 2015). In small
business sector is to be focus every aspect of business. In order to make improvements of the
quality of business, the selected business can also gain high market share. To achieve main goal
and objective it is most important to use some strategies of previous business. It is help to
achieve growth rate in organisation. Therefore, following activity is implement in organisation,
to achieve business objective in organisation are as follows :-
 Assessment of goals and objective of business :- In such way talcon outdoor company
is to be focus on different aspect of business activity in organisation. This is help to
maintain growth rate in organisation. The company is focus on balance sheet, sales,
profit, etc. report identify continuing in the market (Heileman and et.al 2016). In addition
to this, current and future performances will be evaluates in systematic way. All such
activity is help to increase growth rate in organisation. With the help of all this financial
factor company is increase growth rate in organisation.
 Structure of organisation plan :- In such a way the company is to be used different
kind of activity in organisation is help to increase growth rate in organisation. Talcon
outdoor company is focus on prepare a structure plan to in new business in new location
(Battisti and et.al 2015). With the help of structure plan work is to be completed on time
in organisation. In order to make plan, all the activity is working with plan . It is help to
increase growth rate or increase customer in new location.
 Changes in objective :- In such a way change in goals and objective is need to be
drawback of activity in organisation. With this regard, company is to be focus on every
single activity in organisation (Page and Söderbom 2015). The company is monitor each
and every activity in organisation in new location. It is help to increase customer traffic in
organisation. In this context, it assists to grow outcome and result is positive in
organisation. It is help to development is every aspect in organisation.

3.2 Revives the business plan with incorporated changes
In such way work is to be done with the help of planing of activity in organisation. Planing is
help to maintained different activity in organisation to achieve result in future period. With the
use of proper planing it is most important to increase customer in organisation. In order to adopt
the selected plan, talcon group unable to accomplish their targets and effective results in
business unit (Page and Söderbom 2015). Therefore, it can change plan or revise plan in
organisation. It is help to achieve profit in organisation. To revise plan is help to make target in
organisation. This plan is help to increase new target or increase customer in organisation.
 Adopt new technology :- In the organisation company is to be focus on different aspect
in organisation . It is help to achieve profit in organisation. The company is focus on new
customer, so company is change technology as per the market need. It is help to achieve
growth rate in organisation (Ritchie and et.al 2015). With the help of implementing new
and advance technology, the chosen business able to delivery quick services to their
customers.
 Evaluate the business performance :- In this way company is to be focus on different
aspect in new business. In such a way evaluation of business is help to expand the
business in organisation (Henrekson and Sanandaji 2014). In organisation monitor each
and every activity is help to achieve growth rate in organisation.
 Change in budgeting :- The company is need to change in business plan as per the result
of evaluation. In such a way company is change budget in every activity in organisation.
Budget is the most important factor in organisation. With the use of proper allocation of
budget in every single activity in organisation. It is help to increase growth and market
share in organisation.
 Forecasting :- In this context present report is to be based on the different aspect of
organisation activity in organisation. In such a way business forecasting of business I
most important factor in organisation (Carter and et.al 2015). With the help of forecasting
business is run successful in new location.
3.3 Prepare plan for changes
In organisation company is to be focus on different aspect of working condition in
organisation. In this way, business need to understand things which done on priority level. In
this way, priorities can be made which taken to reach towards the goals. Action plan starts with

listing the goals which essentially achieve and setting future targets in step by step (Carter and
et.al 2015). With implementation of goals and responsibilities and delegate power, action plan in
organisation. The company is to be focus on action plan. With the help of action plan goals is
been achieved in market and future target.
The company is to be focus on new action plan in new location, it is help to achieve
growth rate in organisation. In such a case company is to be focus on different steps to be flow in
action plan. In the selected business unit, firstly market research can be done which needed to
reach the goals. It also includes collection of information about the business operations. Research
work is help to achieve target market in organisation. In second stage company is to be focus on
organisation gather information through they able to conduct research work in organisation
(Duncan, and et.al 2015). In such a way talon outdoor company is use social media to increase
sales volume in organisation. With the help of social media the company is grown day by day.
For each and every activity time is fix to complete the activity in organisation. The company is to
be focus on time frame to complete the task or activity.
Activity Responsibility Time Action taken time
Drafting a plan Managing director 4 months 5 months
Research work Manger 3 months 3.5 months
Allocation of resource Physical and
technological
2 months 2.5 months
Cost and time factor in
organisation (Duncan,
and et.al 2015)
Department head 4 months 4.5 months
Requirement and
selection of new
employees (Cowling
and et.al 2015)
Human resources'
department
5 months 5.5 months
Advertisement or
marketing
Marketing manager 3 months 3.5 months

As per the activity plan company is to be focus on different kinds of internal activity in
organisation. It helps to achieve growth rate in organisation. All the activity is most important to
each and every task in organisation.
Task 4
4.1 Impact on preposed change in business
In organisation change in every kind of business is one of the most important activity in
organisation. In this context, change in organisation give positive as well as negative impact on
the performance in organisation. In such a context change is most important in organisation. It is
focus on every activity in organisation as well (Heileman and et.al 2016). In organisation there
are certain changes is to be there in organisation are as follows :-
 Finance :- In organisation company most important factor is finance in organisation. To
maintain finance activity is help to growth in market. In this context work is to be done
with the help of organisation activity (Battisti and et.al 2015). Finance factor is help to
maintain the growth rate in organisation.
 Morale :- This factor is help to new employee is organisation. In organisation new
employees is feel safe in organisation. In this way, communication is most important
factor in organisation (Battisti and et.al 2015). With the help of communication new
employees is felling safe in organisation.
 Organisation structure :- There are many changes required in the structure in business.
In such a way, job profile need to be match according to new team so that it enhance
effective results in business. Talcon outdoor company is to be focus on each and every
sector in organisation (Page and Söderbom 2015). It helps to increase growth rate in
organisation. Organisation structure is help to every employees in organisation at the time
of working in organisation.
4.2 Change will be mange
In organisation there are lot many changes is to be done in working environment. In this way,
change is help to increase growth rate in organisation. In this condition change is help to develop
each and every activity in organisation. Talcon outdoor company is need to change in
organisation (Cassar, G and et.al 2015). It is help to achieve growth rate in organisation. Action
plan starts with listing the goals which essentially achieve and setting future targets in step by

step. With implementation of goals and responsibilities and delegate power, action plan in
organisation. Change is help to expansion of business in new market. With the help of change
market research can be done which needed to reach the goals. It also includes collection of
information about the business operations. Research work is help to achieve target market in
organisation.
In second stage company is to be focus on organisation gather information through they
able to conduct research work in organisation (Ritchie and et.al 2015). In organisation is help
research activity in organisation. It is doing grate job with the help of change in organisation.
The company is focus on expansion of business activity in organisation. It helps to change in
organisation like change location, technology, group of market. All such things is to be changes
in organisation. This is to be focus on different factor in organisation. In this way, change is help
to maintain the growth rate in organisation. Therefore, company is focus on new customer, so
company is change technology as per the market need. It is help to achieve growth rate in
organisation. With the help of implementing new and advance technology, the chosen business
able to delivery quick services to their customers.
4.3 Monitor improvement of performance
In organisation is to most important factor is to monitor every activity in organisation. It is help
to maintain the growth rate in organisation. In this way company is to be focus on different factor
in organisation. In organisation company is help to monitor each and every activity ion
organisation. In this way, Talcon outdoor company is to be focus on each and every sector in
organisation (Henrekson and Sanandaji 2014). It helps to increase growth rate in organisation.
Organisation structure is help to every employees in organisation at the time of working in
organisation. With the help of changes are implemented to enhance performances in effective
manner. With this regard, they did modification and reformation that make successful results in
business unit. As results, it helps to accomplish targets in international market. In organisation
changes in help to take all the activity in organisation. It is focus on every aspect of business.
Activity (in month) 1 2 3 4 5 6 7 8 9 10 11 12
In organisation set goals and
objective.
Market researches for analysis

demand of the products.
Development of new products
Promotional activities for
increasing brand image
Plan should be implement
In business need expansion in
operation of business
Increase customers satisfaction
Monitoring and controlling the
process of business results.
Maintain and sustain
organizational
As per the above chart all the activity is to be set in organisation. It is help each and every
activity in organisation to complete the task on time (Cassar, G and et.al 2015). Company is
need to change in business plan as per the result of evaluation. In such a way company is change
budget in every activity in organisation. Budget is the most important factor in organisation. All
such factor is help at the time of growth in organisation.
Conclusion
As per the above report is focus on the Talon outdoor Ltd. Was founded in 2007, the company
product and services is advertising and market services. It is an important player in out of home
department sector with we centring on delivering smarter, inventive, technology lead and
mingled of transmission. In this report is to be use different types of plan to change organisation
structure. This is help to the growth in organisation and achieve profit in market. In this way
company is to be focus on expansion of market. As per the above report Talcon outdoor
company is need to change in organisation. It is help to achieve growth rate in organisation.
Action plan starts with listing the goals which essentially achieve and setting future targets in
step by step. With implementation of goals and responsibilities and delegate power, action plan
in organisation. In this report is based on the business need to understand things which done on

priority level. In this way, priorities can be made which taken to reach towards the goals. Action
plan starts with listing the goals which essentially achieve and setting future targets in step by
step.

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