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UK Small Business Enterprise | Report

   

Added on  2020-02-03

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Small Business Enterprise

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 produce a profile of a selected small business identifying its strengths and weaknesses.....11.2 Analysis of the business using comparative measures of performance................................2TASK 2............................................................................................................................................32.1 Appropriate actions to overcome the weaknesses ...............................................................32.2 Analyse ways in which existing performance could be maintained and strengthened........32.3 Recommend with justification, any two new areas in which S BE business could beexpanded.....................................................................................................................................4TASK 3............................................................................................................................................53.1 Produce an assessment of existing business objectives and plans........................................53.2 Revise business plans to incorporate appropriate changes...................................................53.3 Action plan to implement the changes in order to strengthen the performance of SB E......6TASK 4............................................................................................................................................74.1 The impact of the proposed changes on the business and its personnel...............................74.2 Planning done regarding how the changes will be managed in the business.......................74.3 Monitor improvements in the performance of the business over a given timescale.............8CONCLUSION................................................................................................................................9

INTRODUCTIONSmall business enterprise can be defined as an enterprise having less number ofemployees and do not have high turnover or production. These organisations are generallyprivately owned and run their businesses by making partnerships(Van Der Wijst, 2012). Thedefinition of small scale businesses is not fix it can be varied as per the legal laws of industries aswell as the nation. The present report is based on the UK based small business enterprise (SB E) intendingto improve their business performance. The analysis and reviewing task is carried in order todevelop the production and business planning capability. The report is explaining the processesinvolved through small business corporation strategies and change management, of reviewingand improving the performance of a small business enterprise. This project is also solved thelearners problem by giving them proper information about the carrier development in the SB Eand making success in their life.TASK 11.1 produce a profile of a selected small business identifying its strengths and weaknesses The Rebellion Developments is a small business enterprise located in the town namedOxford. It works on the development of computer games and magazines. There are approx onehundred twenty four employees working in the company. It has sale of 9.12 per annum. The business objective is nothing but the detailed images steps involved in making theplan to achieve success in the market. Every small scale entrepreneur wants to set the smartobjective. The smart objective possessed by the organisation are listed below:The primary objective of the organisation is to be specific. This means the vision whichthe company want must be clear and easy to understand(Ackermann and Audretsch,2013).Secondary the goal must be measurable that should identify the quantity and quality interms of customers and products consecutively.The third aim is to be realistic i.e. the goal must be real but do not fly in the sky(Barber,et.al., 2016). The rebellion developments should follow such above written objectives. As the organisation isbeing in loss there are several weakness of this organisation that are as follow:The companies lacks in the monitoring of the jobs done by the co-workers.1

It is failed to find the regular customers' needs.The dead line is also not followed regularly so the delivery of the products are being late.Despite this the company exits in the market because of its strength. The strength of thecompany is its reliability i.e. the trust between the customer and the organisation itself. Thecompany is specific, realistic and measurable in order to achieve the best place in the market.1.2 Analysis of the business using comparative measures of performanceThe business of the Rebellion Developments could measure its production by using thefollowing factors like financial profits, ROI, market share, customer satisfaction, etc.Financial profits: The company financial profit should be compared with the other smallscale businesses. It will show the company's existence in the market. This organisation ismaking 9.12 euro per annum and has made 9.2 in the previous year. This shows thedecrement of the organisation revenue(Bridge and O'Neill, 2012). The other companiesare making like 9.26, 9.35, 9.60 euro per annum. So, the comparative measures showsthat the organisation is being in the loss. It must have to improve its production. ROI: It stands for return on investment. It is also a performance measured that is beingused by the organisation to check the efficiency of their investments. It helps inmeasuring the returned amount from any investment relative to the cost of its investment.The company can calculate it by dividing the profits gained of an investment to the priceof the investment and its result is represented in the ratio or the percentage. Theinvestigation reflects that the ROI was good in the initial years but at present it is is quitelow(Storey, 2016).Customer satisfaction: The company is not meeting the customer satisfaction ascompared to others. The company ought to focus on the customers wish or needs. This isthe most crucial factor that impacts the organisation very badly if they failed to get that.M1The three different measures are used in order to enhance the performance of theorganisation. These are financial profits, ROI( Return On Investment) and the customer'ssatisfaction. The organisation is not making profits now a days. So it should focus on the profitsor how the profits management solutions should take. The company should concentrate on theneeds of the customer in order to achieve the good return on investment's value.2

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