Casey's Collections: A Strategic Decision-Making Case

The provided content consists of various research articles and books on business and management-related topics. The papers cover a range of subjects, including strategic decision-making, shared leadership, corporate sustainability, supply chain sustainability, and dynamic capabilities. The articles also explore themes such as business analysis, quality management, biosecurity risks, and performance management in turbulent change environments. Additionally, there is a website link to Talon Outdoor, an out-of-home media advertising agency.

SMALL BUSINESS ENTERPRISE
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Table of Contents
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
1.1 Producing any profile of small selected business recognising its weakness and strength.........3
1.2 Carrying out analysis of business utilising comparative performance measures......................4
Task 2...............................................................................................................................................4
2.1 Recommending with appropriate actions, justifications for overcoming identified weaknesses
in business........................................................................................................................................4
2.2 Analysing ways of maintaining and strengthening existing performance.................................5
Task 3...............................................................................................................................................8
3.1 Producing assessment containing existing business plans and objectives.................................8
3.2 Revising business plans for incorporating appropriate changes................................................8
3.3 Preparing an action plan for implementing changes..................................................................9
Task 4.............................................................................................................................................10
4.1 Preparing report on impacts of proposed changes on business along with its personnel........10
4.2 Preparing a specific plan and presenting the ways of managing changes in the selected
business..........................................................................................................................................11
4.3 Monitoring improvements in performance of business on a provided timescale....................11
Conclusion.....................................................................................................................................12
References......................................................................................................................................13
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Introduction
Prime focus of UK is growing behind the development of small business Enterprises across the
world. Small organised businesses are considered to be corporations which are privately owned
and have listened number of employees with lower annual revenue and turnover. UK has been
the hub of small business Enterprises and source of a greater amount of revenue and contribution
to the national income. The selected company for conducting this analysis is Talon Outdoor.
The key aim of this study is to drive the working of small business enterprises. In addition to the
above, it could be also stated that the study mainly represents its focus on satisfying facts such as
effect of changing environment over the functionalities of any business organisation.
Task 1
1.1 Producing any profile of small selected business recognising its weakness and strength
Talon Outdoor is basically a firm of media agency located in UK owned by Richard Simkins
which was founded in the year 2007. It was led by Eric Newnham that year onwards. The
organisation projects working with partners for managing and planning innovative assignments
and projects. It employs almost 85 individuals and two third of the labour force has been under
the age limit of 35. Furthermore, business director of Talon Outdoor created a committee which
organises charity of ‘pretty epic’ every year. Previous year, Talon raised £68,000 as their sales
value. One of their extraordinary campaigns had been Play station 4 since it was under high
demand (Talonoutdoor.com, 2017).
The SWOT analysis for the firm, Talon Outdoors has been carried out and is presented as
follows:
Strength
● Higher levels of innovation
● Competitive pricing strategy
● Adequate amount of profit
Weakness
● Limited market share
● Restricted market growth
● Insufficient training to staff members
Opportunities Threats
● Less immunity for fighting
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● Scope of outdoor marketing
● Broadening promotional activities
through e-marketing
● Diversified levels of services
competition
● Changing customer perceptions
● Employee turnover
Table 1: SWOT analysis
(Source: Learner)
1.2 Carrying out analysis of business utilising comparative performance measures
While carrying out the comparative measures of performance, Talon Outdoors is a powerful
competition to its rivals. According to the views of Hussain et al. (2016, p.1310), competitors
like Works Unit Limited, Orchestra Agency Limited exist in the market for providing tough
challenges to Talon Outdoors. However, Talon Outdoor is a step ahead to provide tough
competition to its rival is the comparative analysis is done based on the human resource
management since it employed almost or around 85 employees in its firm. Entire sales value of
Talon Outdoors has been $217 millions which are much greater than its competitors where the
sales value is stagnant of about $184 million and $127 million respectively for Orchestra Agency
Limited and Works Unit Limited (Talonoutdoor.com, 2017).
Comparing technological factors, Talon outdoors has already proved its efficiency by launching
bespoke automated platform which allows the customers for planning and booking through
online networking. In addition to the above, Talon Outdoor is also behind planning an integrated
data platform of management which incorporates real time as well as third party sources of data
in order to influence both activation and planning of campaign. Among recent achievements, the
firm Talon Outdoors have achieved British credit Awards for being the Employer of the year
2017 (Talonoutdoor.com, 2017)
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Task 2
2.1 Recommending with appropriate actions, justifications for overcoming identified
weaknesses in business
For mitigating the weakness of the firm, Talon Outdoor, it might progress in taking relevant
steps and actions which could help them enjoying competitive advantage over rival firms present
in the market. Proper and justifiable actions that could be recommended include:
Motivating employees
Influencing employees through motivational speeches and training would radically increase their
productivity and efficiency of working in the firm. According to the words of Camisón and
Villar-López (2014, p.2900), motivating employees would gradually increase the performance of
the form on an overall context.
Effective pricing strategy
Being a small enterprise, prices must not be huge that would not attract any customer or hardly
any customer would be attracted. They must look after the choices, preferences and will of
consumers for purchasing products and accordingly implement pricing strategies. Asper the
opinions of Wilden et al. (2013, p.95), reasonable prices, discounts and offers would attract
customers in bulk and that would enhance the extent of sales of the firm.
Monitoring trends
According to the suggestions of Bucciarelli, (2015, p.41), in order to develop and overcome the
weakness, the firm must get involved in following trends. It would pursue higher success and
growth since observing trends has been a new pattern for understanding customer's point of view
and opinions.
Managing customer relations
Enhancing relationship levels among the firm and customers is to be followed for increasing
sales and reputation. Depending in the quality of the products and services, the customers are
required to provide feedbacks and reviews. According to the findings of Cater-Steel et al. (2016,
p.300), depending on these reviews, the firm extends and manages its operations.
Proper marketing
According to the ideas of Makkonen et al. (2014, p.2710), proper and innovative styles and
strategies of marketing is to be devised and implemented for recognising the limit of the
organisation’s performance. Marketing would enhance the reach of the products for receiving
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attention globally and create its own brand image if the the customers are strongly satisfied with
the quality of the products.
2.2 Analysing ways of maintaining and strengthening existing performance
Multiple steps for strengthening the performance of Talon Outdoors could include the following:
Active participation of employees
The employees are ought to take active participation in devising new strategies and ideas as well
as making appropriate decisions of the firm. It would motivate and influence the employees for
being more effective and productive in their work. According to the opinions of D’Innocenzo et
al. (2016, p.1970), it would certainly increase the labour productivity and thereby the production
and selling of firm at outdoors.
Leadership practices
Proper practices of leadership are to be strictly regulated and organised for maintaining the
coordination among the team leaders as well as the employees (Barrick et al. 2015, p.130). Large
firms could invest noticing the synchronization among the employees for working with each
other. Proper and appropriate leadership practices would probably bridge the communication gap
among the employees and efficiently overcomes the issues and conflicts arise among them.
Identifying loopholes
Proper assessment of strengths and weaknesses is required to be done for strengthening the base
of the firm. According to the opinions of Nguyen et al. (2014, p.1055), a firm can only improve
when its areas of weaknesses are potentially known to the managers, leaders and analysts. Once
a firm identifies its deficiencies, it can improve significantly and cover the areas of gaps and
loopholes.
Provision of strategic training
The Human Resource Management (HRM) is held responsible for imparting proper amount of
knowledge and training to the employees. In the perspectives of Stam et al. (2014, p.170), it is
their responsibility to make the employees understand about their job responsibilities and
perspectives. Proper training increases the efficiency if the employee's present in the firm as well
as their productivity. Through training sessions, the skills of the employees are excelled which
increases their confidence level and they can perform well in their further activities.
2.3 Recommending justification and new areas where business could be expanded
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For expanding the organisation, Tralon Outdoor might follow certain specific aspects of
expansion which are being described below:
Franchising
Talon Outdoor could expand its areas of franchising its model of business for expanding in the
global market. According to the opinions of Stark (2015, p.25), it might minimise the risk of
establishing the organisation into a new location or area. Besides, it is supposed to carry up the
hard work for maintaining the franchise. Product development and marketing would be more in
amount as compared to previous age and through franchising, the company could gain
sustainable market share in the market. In addition to it, the firm eventually needs to become a
business model which can operate in various business locations.
Engagement in new market
It is quite profitable if Talon Outdoor increasing involve into new markets for marketing its
product and attract potentially large share of customers from the market. As per the views of De
Pessemier et al. (2014, p.2930), selling their products in new areas would increase their business
expansion in the market. Even though, their financial base would strengthen up, before entering
into any new market, a proper market research is supposed to be done by Talon Outdoor.
Targeting another business
Talon Outdoor might invest in other business corporations which are micro enterprises and run
their operations that would certainly gain more information and knowledge about the activities of
the new business. As per the opinions of Fleisher and Bensoussan (2015, p.76), this would in
turn, lead in increasing profits to be enjoyed by the business organisations.
Online marketing
E-marketing necessarily offers the small enterprises of business a quite cost effective way for
diversifying their business. Online promotion and marketing would gradually increase the
probability of the firm to sell products and services by attracting customers across the world. In
words of Tolk et al. (2013, p.23), social networking sites as well as creating their own websites
would potentially increase the sales of their firm and grab the attention of the customers.
Exporting
In the recent era of technology and globalisation, UK’s exports have technically increased which
explicates the facts that there is a huge scope for development of Talon Outdoor if it gets
involved in the trend of globalisation De Pessemier et al. (2014, p.2945). Expanding exports
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would certainly make it profitable and convert it into a large business since t would contribute a
relevant share of its income to the accumulation or the count of Gross Domestic Product (GDP)
of the country.
Task 3
3.1 Producing assessment containing existing business plans and objectives
According to the observations of Hussai et al. (2016, p.1309), the prime objective of the firm,
Talon Outdoor has been to deliver proper information and knowledge to its existing and new
customers regarding the innovative or available services and products. In addition to this, they
are required to maintain healthy and strong relationship with its customers for expanding the
outsourcing of business. Maintaining financial resources have been a potential objective of the
firm and must be executed in an effective way so that the operations of the company get
smoothened. Another rational objective or goal set by them is to enhance sales, the believe that
more the sales greater would be revenue a well as employee retention. They even need to fulfill
their objective of technology improvement and training provided to employees. Most of the
employees employed in the firm are still unable to access computer systems. As per the findings
of Wilden et al. (2013, p.90), this follow the fact that proper training and learning lessons to the
employees are to be provided. This would ultimately polish the performance of the entire
organisation since excelling of skills and knowledge among the employees would gradually
increase their productivity.
3.2 Revising business plans for incorporating appropriate changes
In the field of technology, change is quite important and must be brought about by the company
for further improvement in its performance. As per the views of Chowthi-Williams et al. (2016,
p.134), along with the change to be made in the technological field, sales must be increased for
sustain the market since its competitive firms are prepared for launch new products and offer
innovative services which would attract its potential number of customers from the market.
Furthermore, considering the firm Talon Outdoor, it specifically lags behind in the field of
human resource management as well since the activities of human resource are not upto the mark
and the employees are not well trained for handling their job roles and responsibilities.
According to the suggestions of Cater-Steel et al. (2016, p.301), its financial base along with its
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communicative mediums are not lubricant and hence prevents the company from achieving
success in the organisation. These are the probable reasons behind Talon Outdoor being
performance challenged and therefore are in utmost need of bringing a considerable change to
certain specific plans which would influence the operations and functions of business.
3.3 Preparing an action plan for implementing changes
The action plan that has been prepared in order to implement the proposed changes is provided
as follows:
Actions Responsible
department
Performance
measures
Time Horizon
Active participation
of employees in the
process of decision
making
Human resource
department
Conflicts among the
employees since
different individuals
have different views.
However,
enhancement of the
employee
performance could be
enhanced through
implementing this
change.
2-3 months
Devising innovative
strategies and ideas
regarding production
of products
Board of directors Expenditure is
involved yet
customers can be
attracted with the
manufacturing of
different new
products
5-6 months
Promote Management Smooth functioning 3-4 months
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communication
networks through use
of advanced
technology
among the employees
and solving issues
mutually and
beneficial to connect
to the stakeholders
and shareholders of
the firm
Managing financial
resources
Financial department Relevantly, higher
amount of profit
could be reaped by
the firm minimising
the overhead costs
2-4 months
Table 2: Action plan
(Source: Learner)
Task 4
4.1 Preparing report on impacts of proposed changes on business along with its personnel
According to the observations of Goetsch and Davis (2014), the proposed changes might have
huge impacts on the overall performance of the business organisation, Taloon Outdoors. Changes
within the management of human resource and financial management affect the smooth
operation with the business sector. Alongside, it definitely provides greater level of satisfaction
to the customers of the selected organisation. Employees get deeply motivated or inspired by
taking active participation in the activities of making decisions as an essential purpose of Talon
Outdoors. In the opinions of Church et al. (2017, p.79), each and every role and responsibility of
employees towards executing the job is being cleared out. Furthermore, there might be notifiable
changes in the level of production. Enhancement of the production level could be observed.
Furthermore, technical changes are to be made which would create a potential impact on the
performance of the organisation. Changes in physical aspects like office premises and production
areas would be effective since a large location would support increasing production and technical
operations of the firm.
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However, some hindrances must be noticed during the implementation of changes. Employees
do not get habituated or well-adjusted with the proposed changes. It might identify hindrances to
the growth d development of business which might lead to face a higher amount of decreased
turnover. Appropriate marketing strategies and skills of the organisation could impact upon the
relationship with its existing as well as new customers. Small business corporations such as
Talon Outdoors receive the chance to reach and approach vast customers for enjoying a
competitive advantage over the rival firms if Talon Outdoors.
4.2 Preparing a specific plan and presenting the ways of managing changes in the selected
business
Management of necessary changes could be done through utilization of two prime models which
are- John Kotter’s eight-step model and Kert Lewin’s model. According to the statement of
Allen, (2016, p.100), Keet Lewin’s model consist of three preliminary steps. Firstly, Talon
Outdoors, the selected organisation is supposed to understand the status of employees for
accepting challenges. The organisation can only execute, if the employees are ready to take down
the necessary changes. Thirdly, assurity of the fact is provided when the changes turn to
permanent ones. As per the suggestions of Ramírez and Selsky (2016, p.99), if changes of the
organisation is based on the technical aspects, then only it could be assure that the entire
organisation is ready for accepting the proposed changes.
In contradictory to the above stated that, small business organisations such as Talon Outdoors are
either supposed to implement eight-step model contained in Joh Kotter for managing the
necessary or relevant changes. By this method, organisation requires creation of an appropriate
sense of emergency regarding the proposed change. In the ideas of Engert and Baumgartner
(2016, p.833), a specific vision is supposed to be created for evaluating impacts of changes
within the organisation, Talon Outdoors. Following this, the concerned organisation is needed to
arrange relevant resources for suitable management of changes as well as needs for building or
establishing up of the changes in the organisation. In the last step, Talon Outdoors or an other
small business enterprises alike is supposed to incorporate valuable changes within the culture of
organisation. It would be quite favourable for Talon Outdoor for implementing this specific
model for ensuring changes within the organisation which might drive the key towards success.
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4.3 Monitoring improvements in performance of business on a provided timescale
As per the discussions of Kozlowski (2016, p.303), improvements could be monitored through
the support of certain specific activities. One of those basic activities would be to arrange regular
meetings. It could vitalise the enhancement of the communication level among employees within
a specific organisation. Eventually, through this network of communication to be created,
employees can contact with each other which would certainly allow them for discussing their
problems and issues. Necessarily, the selected organisation gathers ample amount of reviews and
feedback by arrangement of regular or frequent meetings. As per the views of Steen, R. and
Tangenes, (2016, p.546), all these activities assist in detecting the weaknesses and strengths of
any particular organisation in their work.
Depending on the findings of these analyses, future activities are potentially set in this
organisation. In addition to the above approach, another effective approach that could be
regarded for monitoring organisational performance has been the 360-degree approach. This
particular approach involves few basic steps. The first one illustrates the need for performing
self-assessment which could help the employees and the employer to know or identify their
loopholes as well areas of strength. In the opinions of Vogler and Vitry (2016, p.40), under this
approach, the organisation or the Talon Outdoors might approach customers for judging the
performance of this organisation. Thirdly, monitoring the achievement and progress of the
working activities as well as generating feedback from each and every entity is ensured.
This step eventually includes targeting particular set of objectives and criteria for development to
be set. Based upon this development process, monitoring of the entire performance is needed.
Excelling skills and performance of the employees improves the entire business functioning and
operating and achieve global identification as soon as possible.
Conclusion
The overall idea that could be gained from the above study is that there are specific factors which
create an intense effect on the working of small business enterprises. The study even elaborates
about the performance level of small business enterprises such as Talon Outdoor. Conducting
SWOT analysis has concluded about the weakness and strength in details through which aims
and objectives could be set. Furthermore, it could be deduced that few changes have been much
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important for maintaining the work environment and organisational structure in order to improve
management efficiency.
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