Small Business Growth Strategies

This assignment delves into the strategic planning of small businesses, focusing on growth strategies. It utilizes the Ansoff Matrix as a framework to analyze different approaches to expansion, including market penetration, product development, market development, and diversification. The assignment encourages students to apply these concepts to real-world business cases and understand the implications of each strategy.

SMALL BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Produce a profile of Qbic hotel.............................................................................................1
1.2 Theory and practices that indicate to measure organisation performances...........................2
TASK 2............................................................................................................................................3
2.1 Recommendations with justification to overcome weaknesses of the business ..................3
2.2 Ways in which existing performances could be maintained.................................................3
2.3 Ansoff matrix to expand business operations.......................................................................4
TASK 3............................................................................................................................................6
3.1 Assessment of existing business objectives and plans of the business ................................6
3.2 Prepare revised business plan to incorporate appropriate changes.......................................7
3.3 Action plan to implement changes with appropriate model and theory................................8
TASK 4............................................................................................................................................9
4.1 Impact of proposed changes within the business .................................................................9
4.2 Plan to manage proposed changes within the business ........................................................9
4.3 Monitor improvements in the performances ......................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Small business enterprise plays a very important role in which they contribute effective
participation for economic growth of country. It also manages changes that take place in nation
for enhancing revenue (Mukwasi and Seymour, 2014). These type of business give opportunities
to creates employment and increase market share from different activities. In this context,
present report is based on Qbic hotel which dealing in hospitality services in different areas of
nation. Further, the company is also charges low price for various services through they can
attract various customer. For gaining insight knowledge of the organisation, present report covers
SMART objectives in which strengths and weaknesses can be measures. Furthermore, it includes
recommendations to overcome weaknesses of the business. In order to expand business report
also determines Ansoff matrix in new areas. In addition to this, it is also prepares action plan to
implement changes at workplace.
TASK 1
1.1 Produce a profile of Qbic hotel
In the whole country, Qbic hotel operate effective functions with deliver qualitative
services and products. They are always planning to focus on expansion of the business in new
areas (Gibson, 2016). Hence, they have to measure their strengths and weaknesses to formulate
strategy within the organisation. Following are different types of strength and weaknesses that
assist to take decisions at workplace:
Strengths

 Qubic hotels possess various strengths through they can easily achieve positive results at
workplace. Capabilities of the company is very high so that effectively they can deal with
various customer and provide them healthy services (Storey, 2016).
 Further, the firm has various resources through they can compete with various competitor
to generate competitive advantages.
 The cited company is locate at good location so that it is helpful to them to attract various
customer towards the business operations. It will generate positive impact on customer to
access services from the company (Chahal, Mishra and Soni, 2014).
 Sales of Qbic hotel is very high so that it assist to increase revenue of company which
generate goodwill and reputation of the business.
Weaknesses
 Weaknesses gives negative impact on the business operations of Qbic hotel so that it
reduce profits of the company. Rent of the company is very high so that it is very big
weakness of the company.
 The organisation provides less price for food products so that customer moves towards
other competitor which gives negative impact (Lourenço, Sappleton and Cheng, 2015).
 Staff members of Qbic hotel has no full knowledge regarding customer services so that
they are always lacking to operate functions effectively. In addition to this, workers are
not timely working within the business environment so that it also create negative impact
on operations (Radipere and Dhliwayo, 2014).
1.2 Theory and practices that indicate to measure organisation performances
There are various resources which can be adopted by Qic hotel to measure their
performances. In this aspect, comparative analysis measurement is the best tool to measure
business performance (de Jong, 2013). Following are different elements can be taken by the
company to measure enterprise performances:
 Financial profits: The cited organisation measure their financial performances with
existing records. It can be done through analysis trading and P&L accounts, balance sheet
and many other statements. It assists to identify liquidity position of the firm to measure
performances of Qbic hotel. Hence, the firm can easily analysis whole market and
enhance profits to develop functions (Williams and Schaefer, 2013).

 Customer satisfaction: Customer satisfaction can be analysis through feedback by them.
When the organisation provide effective products and services to customer, they are
encourages towards the business. Thus, it is important for Qbic hotel to conduct market
research and taking feedback from customer. In this aspect, the firm can easily analysis
customer demand ad requirement so that they can achieve profitability at workplace.
Hence, the cited organisation can serve according to customer need (Ahlstrom and Ding,
2014).
 Return on investment: Return on investment is also good method to measure business
performances. In this aspect, Qbic hotel need to conduct ratio analysis to find liquidity
position within the company. It will assist to find position of the firm in market to expand
operations in new areas (Nicolás and Rubio, 2016). It can be measure through previous
year records, financial data and many other things that support to needs and requirements
of customer.
TASK 2
2.1 Recommendations with justification to overcome weaknesses of the business
There are various issues which face by Qbic hotel so that it is very important to overcome
it for enhance profits of the company. Due to this problem, firm cannot achieve high market
share and it generates problems to handle queries. In addition to this, customer are also
discourages towards the business operations so that it also create problems within firm (Goffee
and Scase, 2015). In the cited organisation there are also lack of communication so that it create
weaknesses at workplace. Following actions can be taken by the organisation for overcome
weaknesses:
 Effective and proper management: With the help of effective and proper management,
Qbic hotel can easily give proper attention towards the customer. Hence, they can
maintain sustainability of customer and enhance profits towards the organisation
(Bernstein, 2015). It will also assist to maintain the latest technology for development of
the nation and business operations.
 Maintain high quality of food products and services: To sustain customer, Qbic hotel
need to manage high quality of food products and services. In this aspect, firm need to
charge high price and enhance quality of products and services. As results, customer

easily attracts towards the business (Cole, 2013). It will helpful to expand the
organisation in new areas and increase revenue.
 Proper training and development to business employee: In order to overcome
weaknesses, Qbic hotel need to provide proper training to their employee. In this aspect,
the firm can easily enhance skills and knowledge of each member to attract various
customer. It is also helpful to demonstrate profitability at workplace (Lee and Cowling,
2013). Development program also helpful to learn new things within the business
operations.
2.2 Ways in which existing performances could be maintained
There are various ways, through existing performances of the business can easily
measure. Hence, it could be maintain to enhance profitability and efficiency at workplace to deal
with various customer. Effective services are requires managing business results and operate
functions effectively. In Qbic hotel manager innovate various things that support to creativity
and grow business in different areas. For maintain business performances, the cited firm need to
concentrate on policies and rules which are frames regarding business operations (Behery,
Jabeen and Parakandi, 2014). Hence, the cited firm can maintain their standard with developing
outcomes. The chosen organisation can also focus on future growth with different measurement.
It will assist to maintained strengthened and performances of the enterprise. Following are the
ways through the chosen firm can enhance their outcomes: Continuous monitoring and evaluation: For maintain standard of Qbic hotel, it is
essential to monitoring performances. In this aspect, 36 degree evaluation method can be
taken to review working environment of the business (Bovée and Thill, 2015). As
results, the chosen enterprise can easily grow business to perform various functions and
achieve targets of the company. Getting feedbacks: From the help of feedback, organisation can also maintain their
strengthened. This is because, Qbic hotel can easily identify customer need and
requirement. Thus, they can serve accordingly to operate functions effectively
(Sokolowska and Wisniewski, 2015). It is also helpful to analysis effective working
environment to grow business and attain positive results.
 Motivating and encourages to employee: In order to attain business objectives and
goals, Qbic hotel need to continuous motivating and encourages to employee. In this

aspect, various activities and operations also measure according to outcomes of the firm.
When employee are regularly motivates, it is helpful to enhance market share and profits
of the enterprise (Jeston and Nelis, 2014).
2.3 Ansoff matrix to expand business operations
There are various areas in which Qbic hotel can expand their business operations. It will
assist to enhance business activities and market share for development of company. There are
different recommendation of new areas can be expand on the basis of Ansoff matrix which are as
follows: Market development: In market development, the cited organisation can target in new
marketplace. Qbic hotel can sell their products and services in new areas of market to
attract various customer together. In different geographical areas, the chosen enterprise
can expand their operations at domestic and international market (Ciravegna, Majano and
Zhan, 2014). It is also helpful to find opportunities and threats to expand outcomes in
different areas. The firm can also use different channels such as online and offline to
expand their market. Diversification: In this strategy, there is high scope for expand business operations
through diversify activities and actions. Qbic hotel can also provide travelling services to
customer so that they can achieve high market share for their operations. It is the best
opportunities in front of the firm to expand their enterprise in new areas (Halme and
Korpela, 2014). They can earn more with developing business results and operations. Market penetration: In this approach, Qbic hotel sell existing products in same market
where they are operating functions. As results, the firm can maintain loyalty of customer
through attract them. They can launch new penetration pricing to promote products and
services (Mukwasi and Seymour, 2014). It assists to increase sales services with further
investment and competitor company.
 Product development: Further, the chosen company can also add new features and values
in products with repackages. As results, they can develop product and services with
enhance market share. In addition to this, Qbic hotel can also improve their customer
services so that they will able to expand their operations in effective manner. In respect to
this, within shorter time the cited firm can manage their functions (Gibson, 2016).

TASK 3
3.1 Assessment of existing business objectives and plans of the business
In order to assess current performances, management of Qbic hotel make business
objectives and plans that assist to change provision and services. It can be analysis through
review plan of the company (Chahal, Mishra and Soni, 2014). Hence, assessment of existing
organisation objectives of the cited organisation as follows:
 Main objectives of the company is to satisfy customer need and requirements to maintain
their sustainability towards the business.
 Other objective of the cited firm is to maintain changes with new plan of business
operations. In this aspect, Qbic hotel can easily deal with various requirements of
customer through deliver services.
 Further, the chosen organisation need to maintain their new structure through they will
easily expand their new operations and diversification the company (Lourenço, Sappleton
Illustration 1: Ansoff matrix
Source: Storey, 2016

and Cheng, 2015). Hence, they can meet easily and conveniently with different types of
customer.
For managing business activities and operations, Qbic hotel can focusses on business
plan to meet with objectives and goals. Hence, the firm can easily deals with various outcomes
and profitability. Further, focusses on measuring pricing structure of the company can also
determine to engage various activities and actions (Radipere and Dhliwayo, 2014). As results,
the chosen organisation can easily meet with needs and desire of customer to satisfy them. For
accomplish objective is to diversify business, the cited company can also establish digital
platform to deliver effective services at workplace. Therefore, they can support to business
activities to attain goals and objectives.
3.2 Prepare revised business plan to incorporate appropriate changes
Qbic hotel make plan for expand their operations and maintain performances. When they
are unable to achieve their targets and goals, they have to make changes in existing plan and
operations. The firm can make effective services to satisfy customer requirements. According to
needs and requirements of customer, the cited firm deliver effective products and services (de
Jong, 2013). As results, it is demonstrates with changes that assess to identify needs and
requirement of customer. Revised plan of the company as follows:
 Adopt latest and advance technology: In order to attain business objectives, it is very
important for Qbic hotel to select advance and upgrade technology. In respect to this,
according to customer requirements firm can handle their operations. In today's time
every customer want to get service very quickly at very low cost so that it is essential for
the chosen organisation to adopt advance technology (Williams and Schaefer, 2013).
When the business serve quick services, customer can easily attract towards the company.
As results, business plan will be helpful to achieve desired results with effective
outcomes.
 Analysis existing performance: In respect to attain business objectives, it is also
essential to monitor existing performances. In respect to this, Qbic hotel can measure
their objectives which are helpful to done work at workplace. As results, effective plan
can be attain through developing operations (Ahlstrom and Ding, 2014).
 Future forecasting: The organisation can also enhance their profits through forecast for
future development. In respect to this, Qbic analysis things which need to be ascertain for

future outcomes. They can make plan for those things which need to be accomplish in the
future. Hence, they will easily attain goals and objectives for ascertain business results.
3.3 Action plan to implement changes with appropriate model and theory
In order to take place successfully implementation the changes, Qbic hotel need to focus
on review plan to take proper actions. Action plan is considers as process which can be taken as
steps (Nicolás and Rubio, 2016). It will support to enterprise to enhance profits and incorporate
with managing business activities. Action plan can be implements as follows:
 Activities needed for implement changes: In this step, action plan is incorporate which
includes setting of different activities to make changes in different services. It is also
engaging with establishing online platform for customer so that they can access booking
everywhere easily according to their convenience (Goffee and Scase, 2015). As results,
Qbic hotel can attract various customer towards the firm to implement changes at
workplace.
 System to manage changes: In other step, action plan can implements with managing
changes at workplace. In respect to this, firm has responsibility to introduce new things at
workplace. Online services for introduce company operations can be attain to design
website within hotel (Bernstein, 2015). As results, customer can easily attract to get high
revenue and maintain outcomes at workplace.
 Monitoring and reviewing activities: In action plan of the company includes monitoring
and reviewing business activities that support to incorporate changes within the business
services. With the help of monitoring and reviewing, Qbic hotel can find gap between
standard and existing performances so that it can be managed at workplace. Hence, it will
assist to find loopholes from the company. As results, changes can be incorporates with
different types of services within the enterprise (Cole, 2013).
 Budget and time frame: In the last step, action plan could be implemented to make
changes which includes devising and setting the deadlines for each and every activity. As
results, management can perform different activities which support to different results
and outcomes. Apart from this, budget is also determines to attain objectives and goals of
the company. In this aspect, for every activity Qbic hotel need to fix amount to
implement changes. Proper time for every activity assist to create benefits towards
different customer (Lee and Cowling, 2013).

TASK 4
4.1 Impact of proposed changes within the business
There are various outcomes which impact through proposed changes within the
enterprise. In respect to this, Qbic hotel and their employees are highly affected through
developing outcomes. Certain impact due to proposed changes are take place are as follows:
Positive impact
 Changes are take place to assess current trends which attract existing and potential
customer.
 Changes give opportunities to the business to expand in different areas.
 Changes are also encourages increasing efficiency which assist to create innovations at
workplace (Mukwasi and Seymour, 2014).
 In addition to this, it is also beneficial for employee of Qbic hotel to create positive
attitude and morality to enhance skills and knowledge regarding business operations.
Negative impact
 Changes can also generate negative impact on Qbic hotel. This is because, employee are
mentally stressed when various changes are take place simultaneously.
 Changes within the business also requires more resources and members so that it
generates high cost to operate functions within the market (Gibson, 2016).
4.2 Plan to manage proposed changes within the business
There are various ways through Qbic hotel can easily manage proposed changes within
the enterprise. They can take following steps in their plan:
Monitoring and reviewing
In respect to manage changes, reviewing and monitoring assist to improvement needs
which are made for development of the company. In this aspect, different types of issues are
identified to implement changes at workplace. It is also unable to understand difficulties that
need to be managed to develop strong base of customer (Storey, 2016).
Provide training to staff-members
In Qbic hotel various member who have no full knowledge regarding business
operations. Thus, it is essential to accept changes regarding workers performances. In this aspect,
the cited firm need to arrange proper training programs so that they can maintain their employee

sustainability at workplace. In addition to this, it is also helpful to enhance skills and efficiency
of workers towards the business performances (Chahal, Mishra and Soni, 2014).
Appropriate action plan
When the business implement changes, it is important to take effective action plan. In
respect to this, Qbic hotel can attain step by step achievements. All steps of the process need to
measured carefully. In this way, management of the company can make proper measurement of
changes with developing strong base of customer.
4.3 Monitor improvements in the performances
In order to monitoring and reviewing the performances can support to Qbic hotel. It will
assist to improve performances which assist to meet goals and objectives of the company. There
are various activities which need to be maintain through organisation in a given time scale. It
aids to monitor and control company outcomes that measure different results (Lourenço,
Sappleton and Cheng, 2015). Effective monitoring and controlling can assess positive results to
bring measurement at workplace. There are different types of activities can be taken which need
to monitoring and improving within the organisation:
Activity (in month) 2 4 6 8 10 12 14 16 18 20 22 24
Determines objectives and
targets of Qbic hotel
Market research program to
meet with objectives and goals
of the firm
Implement changes within the
enterprise (Radipere and
Dhliwayo, 2014).
Promote the business activities
to make plan for attain positive
results
Implementation of the business

plan
Expand of the company
operations
Enhance customer satisfaction
Monitoring and reviewing each
activity of the company to attain
business goals.
Management of business
performance with analysis
current performance and future
measurement
CONCLUSION
From the above report it can be concluded that small business enterprise play very
important role which signifies to contribute participation to attain maximum share. It assists to
grow business operations and development of economy with different activities and actions.
Apart from this, report also articulated to assess the strength and weaknesses of the business so
that management can easily manage their strengthened with performances. In addition to this, it
is also focuses on ways which assist to overcome weaknesses of the company. Thus, company is
taking proper actions to enhance their performance level within hospitality industry. Moreover, it
also summarized business plan of the company which assist to achieve goals and target. As
results, continuous monitoring can also be taken which assist to monitor performance that
support to the company to improve performances.

REFERENCES
Books and journals
Ahlstrom, D. and Ding, Z., 2014. Entrepreneurship in China: an overview. International Small
Business Journal. 32(6). pp.610-618.
Behery, M., Jabeen, F. and Parakandi, M., 2014. Adopting a contemporary performance
management system: A fast-growth small-to-medium enterprise (FGSME) in the UAE.
International Journal of Productivity and Performance Management. 63(1). pp.22-43.
Bernstein, M. H., 2015. Regulating business by independent commission. Princeton University
Press.
Bovée, C. L. and Thill, J. V., 2015. Business in action. Pearson.
Chahal, H., Mishra, S. and Soni, T., 2014. A comprehensive model of business social
responsibility (BSR) for small scale enterprises in Indian context. Journal of Small
Business and Enterprise Development. 21(4). pp.716-739.
Ciravegna, L., Majano, S. B. and Zhan, G., 2014. The inception of internationalization of small
and medium enterprises: The role of activeness and networks. Journal of Business
Research. 67(6). pp.1081-1089.
Cole, R. A., 2013. What do we know about the capital structure of privately held US firms?
Evidence from the surveys of small business finance. Financial Management. 42(4).
pp.777-813.
de Jong, J. P., 2013. The Decision to Exploit Opportunities for Innovation: A Study of High‐
Tech Small‐Business Owners. Entrepreneurship Theory and Practice. 37(2). pp.281-301.
Gibson, S., 2016. Mobilizing hospitality: The ethics of social relations in a mobile world.
Routledge.
Goffee, R. and Scase, R., 2015. Entrepreneurship in Europe (Routledge Revivals): The Social
Processes. Routledge.
Halme, M. and Korpela, M., 2014. Responsible Innovation toward sustainable development in
small and medium‐sized enterprises: a resource perspective. Business Strategy and the
Environment. 23(8). pp.547-566.
Jeston, J. and Nelis, J., 2014. Business process management. Routledge.
12

Lee, N. and Cowling, M., 2013. Place, sorting effects and barriers to enterprise in deprived
areas: Different problems or different firms?. International Small Business Journal.
31(8). pp.914-937.
Lourenço, F., Sappleton, N. and Cheng, R., 2015. Gender and Business Ethics of Enterprise
Students and Nascent Entrepreneurs Engaged in Entrepreneurship Education. The Journal
of Entrepreneurship. 24(2). pp.186-203.
Mukwasi, C. M. and Seymour, L. F., 2014. The growing trend of small to medium-sized
enterprises adopting enterprise resource planning systems: an analysis of business cases
in Zimbabwe and South Africa. Journal of Emerging Trends in Economics and
Management Sciences. 5(7). p.138.
Nicolás, C. and Rubio, A., 2016. Social enterprise: Gender gap and economic development.
European Journal of Management and Business Economics. 25(2). pp.56-62.
Radipere, S. and Dhliwayo, S., 2014. The role of age and business size on small business
performance in the South African small enterprise sector. Problems and Perspectives in
Management. 12(4). pp.7-12.
Radipere, S. and Dhliwayo, S., 2014. The role of gender and education on small business
performance in the South African small enterprise sector. Mediterranean Journal of
Social Sciences. 5(9). p.104.
Sokolowska, E. and Wisniewski, J., 2015. Liquidity management by effective debt collection: a
statistical analysis in a small industrial enterprise. Ekonomika. 94(1). p.143.
Storey, D. J. ed., 2016. The small firm: an international survey. Routledge.
Williams, S. and Schaefer, A., 2013. Small and medium‐sized enterprises and sustainability:
Managers' values and engagement with environmental and climate change issues.
Business Strategy and the Environment. 22(3). pp.173-186.
13