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SWOT Analysis of Talon Outdoor

   

Added on  2019-12-28

15 Pages4612 Words216 Views
SMALL BUSINESS ENTERPRISE1

Table of ContentsIntroduction......................................................................................................................................3Task 1...............................................................................................................................................31.1 Producing any profile of small selected business recognising its weakness and strength.........31.2 Carrying out analysis of business utilising comparative performance measures......................4Task 2...............................................................................................................................................42.1 Recommending with appropriate actions, justifications for overcoming identified weaknessesin business........................................................................................................................................42.2 Analysing ways of maintaining and strengthening existing performance.................................5Task 3...............................................................................................................................................83.1 Producing assessment containing existing business plans and objectives.................................83.2 Revising business plans for incorporating appropriate changes................................................83.3 Preparing an action plan for implementing changes..................................................................9Task 4.............................................................................................................................................104.1 Preparing report on impacts of proposed changes on business along with its personnel........104.2 Preparing a specific plan and presenting the ways of managing changes in the selectedbusiness..........................................................................................................................................114.3 Monitoring improvements in performance of business on a provided timescale....................11Conclusion.....................................................................................................................................12References......................................................................................................................................132

IntroductionPrime focus of UK is growing behind the development of small business Enterprises across theworld. Small organised businesses are considered to be corporations which are privately ownedand have listened number of employees with lower annual revenue and turnover. UK has beenthe hub of small business Enterprises and source of a greater amount of revenue and contributionto 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 theabove, it could be also stated that the study mainly represents its focus on satisfying facts such aseffect of changing environment over the functionalities of any business organisation. Task 11.1 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 Simkinswhich was founded in the year 2007. It was led by Eric Newnham that year onwards. Theorganisation projects working with partners for managing and planning innovative assignmentsand projects. It employs almost 85 individuals and two third of the labour force has been underthe age limit of 35. Furthermore, business director of Talon Outdoor created a committee whichorganises charity of ‘pretty epic’ every year. Previous year, Talon raised £68,000 as their salesvalue. One of their extraordinary campaigns had been Play station 4 since it was under highdemand (Talonoutdoor.com, 2017). The SWOT analysis for the firm, Talon Outdoors has been carried out and is presented asfollows:Strength●Higher levels of innovation●Competitive pricing strategy●Adequate amount of profitWeakness●Limited market share●Restricted market growth●Insufficient training to staff membersOpportunities●Scope of outdoor marketingThreats●Less immunity for fighting3

●Broadening promotional activitiesthrough e-marketing●Diversified levels of servicescompetition●Changing customer perceptions●Employee turnoverTable 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 powerfulcompetition to its rivals. According to the views of Hussain et al. (2016, p.1310), competitorslike Works Unit Limited, Orchestra Agency Limited exist in the market for providing toughchallenges to Talon Outdoors. However, Talon Outdoor is a step ahead to provide toughcompetition to its rival is the comparative analysis is done based on the human resourcemanagement since it employed almost or around 85 employees in its firm. Entire sales value ofTalon Outdoors has been $217 millions which are much greater than its competitors where thesales value is stagnant of about $184 million and $127 million respectively for Orchestra AgencyLimited and Works Unit Limited (Talonoutdoor.com, 2017). Comparing technological factors, Talon outdoors has already proved its efficiency by launchingbespoke automated platform which allows the customers for planning and booking throughonline networking. In addition to the above, Talon Outdoor is also behind planning an integrateddata platform of management which incorporates real time as well as third party sources of datain order to influence both activation and planning of campaign. Among recent achievements, thefirm Talon Outdoors have achieved British credit Awards for being the Employer of the year2017 (Talonoutdoor.com, 2017) Task 22.1 Recommending with appropriate actions, justifications for overcoming identifiedweaknesses in businessFor mitigating the weakness of the firm, Talon Outdoor, it might progress in taking relevantsteps and actions which could help them enjoying competitive advantage over rival firms presentin the market. Proper and justifiable actions that could be recommended include:4

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