Unit 29 – Managing and Running a Small Business

Added on - Dec 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 14 pages
UNIT 29 – MANAGING AND
RUNNING A SMALL
BUSINESS
Table of Contents
INTRODUCTION..........................................................................................................................3
LO 1...............................................................................................................................................3
P 1 The main consideration of small business that need to address when planning and
allocating resources to achieve business objectives...............................................................3
LO 2.................................................................................................................................................5
P 2 Different processes of customer relationship management for small business..............5
P 3 Developing transnational operation for small business..................................................6
LO 3.................................................................................................................................................9
P 4 Annual monthly cash Flow forecasts...............................................................................9
P 5 Break even analysis can be applied to organisational situation...................................11
LO 4...............................................................................................................................................12
P 6 Key legislation and regulation that have implication on Small businesses....................12
CONCLUSION.............................................................................................................................13
REFERENCES.............................................................................................................................14
INTRODUCTION
Managing and operating a small business requires various skills and knowledge to
perform various activities of organisation. Small business require less human resource and they
are established using fewer equipments. This study will provide information about various
operations performed by Small businesses.SuperDry is a UK fashion retailer and is improving
its performance to become a market leader in fashion Industry. The organisation has earned
revenue of£752.0 million In the year 2017. This assignment will include needs of small retailers
when planning and allocating resources to achieve business objectives. Moreover, It will provide
understanding of different processes of customer relationship management for a small business.
Furthermore, This study will contain the forecasted cash flow of organisation to determine its
growth in future and will also show the break even analysis of the small organisation.
LO 1
P 1 The main consideration of small business that need to address when planning and allocating
resources to achieve business objectives.
SuperDry is a small retailer operating in fashion retail industry. This organisation is
working towards achieving its various goals and objectives and for this the organisation need to
make planning for aching its aims and objectives.The organisation for achieving its targeted
goals have to make plans and strategies for effectively and efficiently achieve those goals.
Fashion retail organisation have to make planning of performing its various activities which
includes planning of human resource, equipments etc (Burns, 2016). Organisation have make
planning for managing its activities in order to perform the activities in the planned manner
which will be beneficial for organisation. SuperDry has the following Aims and Objectives :
Aim:
To increase its sales by 5% in every quarter along with acquiring huge market share in fashion
retail industry.
Objectives:
To provide high quality products to customers.
To gain high market share and increase sales by 5%.
To enhance brand image and positioning in industry.
SuperDry in order to achieve these objectives is making various strategies and planning
to achieve this targeted goals. It has planned for its human resource in which it will hire the
qualified and skilled employees to improve its performance in industry and achieve higher
results (Doppelt, 2017). The organisation have to making effective planning regarding the
operations it will carry and the ways through which it will manage its various operations. The
organisation have to plan for its activities such as people required for various job roles. The
Business have to plan its activities such as it has to make planning for marketing of its products
and services, planning regarding sales of products and services etc (Epstein, 2018). Moreover,
SuperDryensurethatworkersareutilisedtothefullestcapacityinordertoachieve
organisational objectives. Small business also have to consider various factors such as pricing,
supply of inputs etc.
The resources for which organisation have to plan includes premises and equipment,
people and skills. Moreover, SuperDry have to ensure proper organisational structure and must
adopt flat organisational structure as its is small business and there are no such level of
management. Small organisation have to adopt a flat organisational structure which has no level
of management and thus there is effective communication between management and employees.
Moreover, Small business have to ensure proper techniques of recruitment and selection of
candidates for performing various activities (Rainnie, 2016). The small organisation must ensure
that employee are provided with right job role in order to motivate them to work towards
achievement of common goal of organisation.
The business planning is required by SuperDry for its various future activities such as
brand extension, diversification etc. The SuperDry provide proper training to its new employees
in order to provide them better understanding of various activities which are undertaken by this
organisation. SuperDry by planning effectively for its various activities such as recruitment and
selection, marketing, quality of products, better customer experience can achieve its set goals and
objectives. It is important for organisation to make planning and allocating the resources in the
effective manner to achieve organisational objectives. Planning is important as it assists in
efficient use of resources.
Moreover, It assists in managing the risk and uncertainties which can hamper business
operation in the future. Planning for resources is required to build effective team for allocating
the resources in efficient manner to achieve organisational objectives. Planning for resources
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access