Impact of Action Plan and Changes in Firm : Report
Added on 2020-07-23
21 Pages5446 Words34 Views
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Table of ContentsINTRODUCTION......................................................................................................................2TASK 1......................................................................................................................................3A.Profile of the selected business enterprise.........................................................................3TASK 2......................................................................................................................................6(A)Recommendation and condition to overcome the weakness...........................................6(B). Ways to maintain and strengthen the existing performance..........................................7..............................................................................................................................................7GIVE ME SOME EXAMPLES APPLY TO THE CASE STUDY......................................7(C) New areas in which the business could expand with reasonable justification................8TASK 3......................................................................................................................................9(A)Assessment on existing business objectives and plans....................................................9(B)Reviews the business plan and suggestion areas of changes.........................................10(C)An action plan to implement the changes......................................................................12TASK 4....................................................................................................................................13(A)Impact the proposed changes will have on the business and its personnel....................13(B)plan for managed the changes in the business................................................................14(C)Monitor improvements in the performances .................................................................15REFERENCES.........................................................................................................................1972
INTRODUCTIONSmall business is that which is established by skilled and creative person. This type ofbusiness plays a huge role in the development of society and country because they offer jobopportunities to the people. Through the job, people are able to improve their financialconditions and living standard within the country. In this context, present report is based onSwing Patrol which is located at London and provide various dance styles through the events.Cited firm performs its functions for Dragons' Den shows. This report covers the strengthsand weakness of chosen firm. Apart from this, it also explains the various ways to maintainthe strengths and remove the weaknesses. Furthermore, the report also describes the newareas where the cited firm can expand its business in an effective manner. It helps inevaluating financial performance of the company that are required for competing withdifferent businesses in various countries. At the end, this report describes the impact of actionplan and changes within the firm.3
TASK 1A.Profile of the selected business enterpriseBusiness Name: In this context, selected organisation is Swing Patrol Swing PatrolUK that works as private sector and has its owned operations and functions. Owner structure: Mainly, Swing Patrol provides the best events and promotion ofdifferent dance shows (Storey, 2016). In addition to this, number of dancers are there whohave participation in the various events. Tranky doo is a workshop which is being promotedby company in order to have better customer experience. Background and history: Swing Patrol was organised and started their functions from16th May 2006. They offer a range of hospitality with packages. Mentioned firm is one of thebest and famous company in London. To make long term objectives and operations, thisenterprise provides several kinds of products and services. Location of company: Swing Patrol is located at hope cotage OX, London which isone of the famous and biggest areas of the country. Because of the best location, citedorganisation is able to attract more customers and they also get satisfied because it is thecrowidining area so they feel safe and secure with its location. In addition to this, there are various experts who teaches various dance steps. Alongwith this, number of courses of dances are being introduced in the market range. By havingan effective consideration of key aspects in regard to customer service are being promoted. Strengths: The chosen corporation focuses on the promotion with different ideas and creativity.They specialise for different kinds of products and services that help to meet the goalsand objectives in a very effective manner.It is the best way to attract more people towards the business. Apart from this, the organisation is well located into the city area, accessible to itscustomers. 4
It has been noticed that managerial activities are not properly maintained whichimpacts the overall working. Company is not focused on promoting its brands so that it wasfailed to attract customers and increase their market share as well. Limited market segmentand network affects sales and profit margin of company.Weakness: The cited corporation has not been able to improve the productivity of business. Due to lack of capital, they are not able to grow their operations in different areas. The organisation fails to attract new clients and the customers.The employees have not updated their skills with the time.Mission: Swing Patrol has main aim to target large base of customers. They focus on thecustomer's desire and interest. They want to produce the services and products according tocustomer's desire and interest. Vision: The company has established clear vision to analysis different functions and theyare able to crate successful brand image by providing and developing new products andservices In the market. People: Jonathan Charles and Katharine Sarah are providing different operations andfunctions that are taking an important part to guide and maintain the business practices.(B) Compare the performance of Swing Patrol Swing Patrol with anothersmall business The accounting of the firm will help the company to meet the requirements of thecompany in a better way. The cited firm will look after the effective management of thefinancial resource that are been available to the company. The balance sheet of the citedfirm is as follows:Profit and loss accountingFor year 2016-20172016£2017£Sales2503505
Cost of Sales8060Gross Profit170190Overheads100110Net Profit7080Balance sheets of year 2016-2017£2016£2017Fixed assets4050Stock6055Debtors2040Bank105Total130150LiabilitiesCreditors2025Bank over draft510Capital110150Total135185From the above balaneve sheet, the profit nd loss of the cited firm can be determined.The sales increase to £ 350 in 2017 and there was a rise in the liabilities. Their have been arise in the profit as compared to year 2016.Besides this, the rise in the market share and profitability in 20174 as compared to2017 helps the company to meet the challenges and the competition, by improving the marketposition of the company.6
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