Managing and Running A Small Business

This document discusses the main concerns for small or social enterprises in forecasting and allocating resources to attain objectives. It also explores various methods for developing business transnationally.

`````
Unit 29 - Managing and Running A Small Business

Forecasting existing premises: It is the other important concern on which
small business have to work on and is being adopted by managers for planning and
plotting their tactics with effective utilisation of scarce resources. The main
objective of this process is to develop various strategies that create opportunity for
growth and development of company.
Managers of Red Robins further plans to generate innovative ideas for being
competing with rivalries through managing and running small business by
boosting the morale of employees.
 Property and apparatus: The Red Robins managers emphasize on
modernising their hospitality industry through alteration of good
infrastructure as per the modernised demands of new generation. It further
focuses on adopting various equipment and apparatus that result in
improving effectiveness and efficacy with proper management of
employee relations.
 Skills of Individual: The managers of Red Robins auxiliary analyse the
skills of workers through providing them training and development
programs for improving their perfection in finishing their business
activities. It is very essential for organisation to develop understanding
among workforce for respecting beliefs and culture of each other.
Organisational civilisation:- It refers as process that describes executives
of an organisation focus on developing good culture among the business
environment through following the ethos, norms and code of conduct.
The managers of Red Robins further aims to develop good employee
association among workforce which leads to collaborate with one another for
completing the specific target at certain specified duration. This also emphasize on
clan, adhocracy, market and hierarchy by satisfying the needs of workforce for
encouraging them to perform action with effectiveness (Organisational Culture.
2019).
ACTIVITY – 1
Introduction:- The ability of entrepreneurs for researching on changing
demands of customers to analyse their requirements that has to be satisfied with
superior production and services at low price. The organisation selected as client
for Suzanne Oldham Consulting Firm is Red Robin for being an American
restaurant situated at Seattle, Yakima, Washington, United States. This project
elaborates the forecasting and allocating resources being analysed by petite or
societal enterprise for gaining objectives. Additionally, it further elucidates
customer relationship management with various methods for developing business
transnationally by analysing pros and cons.
TASK – 1
P1. Elaborate main concern for small or social enterprise in forecasting and
allocating resources to attain objectives
Red Robins:- The Red Robin is an American Restaurant Company which is
headquartered at Seattle, Yakima, Washington, United States. It is the client of
Suzanne Oldham Consulting for entering at global marketplace through enlarging
business with catering services. The main objective of company is to meet the
customer expectations through satisfying their expectation with good interpersonal
relationships.
Small Enterprise:- The petite business refers as an organisation which is
wholly owned and operated by entrepreneurs which restricts the engagement and
involvement of government policies and procedures. It main motive is to maximise
revenue through satisfying the needs and wants of buyers or clients by delivering
them with specialised services. The managers of Red Robins aims to plan their
strategies with the objective of being sustainable at competitive market through
increasing aggressive advantages that leads to compete with opponents with
potential power and prospects. Following are key concerns for small enterprises
that they have to focus while forecasting and allocating resources for achieving
objectives are as follows:
Evaluating resources: It is key concern of small business to evaluate the
number of required resources to manage the business and accordingly perform other
activities. In case with Red Robbins, it will emphasis on required resources in terms
of financials, technological, humans and many more for allocating duties and tasks
to meet objectives.

Effective customer communication channel:- The managers of Red Robins focus
on these effective customer communication channel in satisfying demands of
clients and adopts various methods to convey message which are mentioned
below:-
 Face-to-Face:- Red Robins managers aims to analyse the feedback of their
clients while their moving out of hospitality industry and further encourage
them to explore more in future period.
 Website:- The directors of Red Robins emphasize on indentifying their
consecutive visitors which are interested in being clients of hotel. The
Company further analyse their demands and solve their queries through
24/7 servicing strategy with the motive to transform them as client.
 Social media:- Red Robins managers further develops various strategies to
promote their amenities by delivering at hotel for low cost. It increase brand
awareness and positioning through digital marketing, print and social
media, electoral mailing systems, etc.
 Call center:- The directors of Red Robins develops calling from clients to
restrict their queries or problems with changing their minds in being client
for booking accommodation.
 Direct mail:- Red Robins managers are highly capable in positioning their
variety of services at large level through electronic mail by updating clients
with modification that beneficial for them to attain luxurious lifestyle.
P3. Determine various methods for petite enterprise to develop transnationally
with pros and cons
Transnational Sales:- This is defined as the process that enables managers
of Red Robins for promoting their services at domestic and international level for
maximising sales and revenue in future with the motive to generate high
profitability ratios.
Internationalism:- It refers as procedure for managers to expand their
services at vast geographical areas which result in high sales and income
generations. The managers of Red Robin used to expand their amenities at broad
category by franchising, licensing and headquartered at varied places across the
boundaries.
Stages of Internationalism for Red Robins:- There are five stage which
have been discussed with its pros and cons of hotel industry.
 Domestic-market establishment:- The directors of hotel industry further
takes necessary steps to provide varied amenities at domestic country for
analysing its satisfaction level towards them.
(a) Pros:- The managers of Red Robins aims to generate benefits through
identifying customer satisfaction with new facilities that leads to
develop competitive advantage at international level.
(b) Cons:- Red Robins manager face challenge in this as competitors are
easily able to identify the strategy being adopted and develop plan for
their protective measures.
 Export research and planning:- The process through which manages
emphasize on exporting their products and services with analysing the
changing demands of customers. It further plans to minimise the cost at
broad level which increase sales and profit-margin.
(a) Pros:- The managers of Red Robins are profitable as they analyse
each and every prospect to increase aggressive strategy for minimising
the threats at global marketplace.
(b) Cons:- Red Robins directors are unprofitable as its lacks in
developing customer relationship management which delay in
accomplishment of goals and objectives.
 Investment abroad:- The ability of managers for foreign direct
investment with the motive to enlarge sales that create opportunity of
company to generate competitive advantage.
(a) Pros:- The managers of Red Robins are favourably affected with this
for increasing large number of customer with business expansion.
(b) Cons:- Red Robin directors are unfavourably affected as it is difficult
to determine the changing needs of customers.
Conclusion:- From the above discussion it have been concluded that
directors have ability to take necessary steps in motivating employees through
providing them opportunity to ascertain personal and organisational goals by
finishing their task on fixed duration. This project elaborates the forecasting and
allocating resources being analysed by petite or societal enterprise for gaining
objectives. Apartly, it further elucidates customer relationship management with
various methods for developing business transnationally by analysing pros and
cons.
Human Resource Management:- This is defined as aptitude of managers for
analysing the vacancy within business administration that affects stability by
creating delay in goal achievement. The managers of Red Robins further take
necessary steps to hire and appoint new candidate in the organisation management.
Fills the vacant designation and results in meeting the target with time
management.
 Staffing and retention: The main process for executive is to select the
appropriate candidate suitable for vacant designation by analysing the skills
and capabilities of individual to perform its task. The manager further aims
to maintain good association among workers by understanding their
emotions and feelings which leads to analyse their emotions and feeling at
varied circumstances.
 Performance management: The managers of Red Robin also monitor and
evaluate the actions of its workforce through analysing their services
provided to client within the hospitality industry for satisfying their
demands.
 Effective Team: Red Robins manager focus on developing effective team
through selecting the best candidate from the organisation that have the
capability to perform their actions with professionalism. The Company
leaders further emphasize on delegating roles and responsibility with their
specialisation and focus on finishing the target on certain date.
Business Plan for Red Robins:- The Company emphasize on developing
business plan through forecasting various factors that includes vision, mission and
objectives for achieving success efficiently at future.
Basis of Business Plan Description
Vision analysed The vision of Red Robins is to develop plans for
facilitating strategic, managerial and operational
decision-making procedure.
Mission to be achieved The Red Robins mission is to fulfil customer
satisfaction through delivering best qualitative
services which increase its core competence by
developing motivational workforce.
Ambition and Intention The main objectives for Red Robins is to achieve the
goal with efficacy that empowers their strength in
competing with rivals that are TGI Fridays,
Applebee’s, In-N-Out, Red Lobster, etc.
TASK – 2
P2. Elucidate customer relationship management for small or social
business
Customer Relationship Management (CRM):- The managers of Red
Robins further aims to focus on their customers changing demands through
development of good relations with them. It is very essential for company to be
updated with changing taste and preference of end-users. This creates
opportunity for organisation to build its competitive advantages with satisfying
needs and wants of clients. The process that Red Robbins will adopt for
managing relationships with customers are as follows:
Step 1: Understanding business needs: In this stage, a new business recognises
their own needs and objectives. In case with Red Robbins, it will understand its
own needs to manage customer relationships.
Step 2: Understanding needs of users: Having knowledge about needs of users
is critical for all enterprises. In context to Red Robbins, it will understand
customers needs through marketing strategies and will offer them suitable
products.
Step 3: Understanding future customers’ needs: To sustain the business for
longer duration, it is also crucial to understand what customers will demand in
future. Red Robbins will manage its relations with customers effectively so that
they have proper knowledge what the customers may demand in future.
Step 4: Defining vision and selecting right system: Vision refers to a sentence
which succinctly describes organisational objectives and what the business will
try to build as well as serve as touchpoint for actions in future. In context to Red
Robbins, its vision is to serve people with high quality products and services.
The company have other vision of becoming market leader.
Step 5: Making plan and sharing it: In this stage, small business devises
effective plan for marketing and promotions and share them with other people
involved in practices of business. In case with Red Robbins, the managers will
devise suitable marketing plan that will include objectives, strategies and
outcomes.