Limited-time offer! Save up to 50% Off | Solutions starting at $6 each  

UNIT 29 Managing and Running a Small Business

Added on - 23 Nov 2020

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 4 of 17 pages
UNIT 29 Managing andRunning a Small Business
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Consideration of small business and implement planning and allocating of resources..1P2. Process of customer relationship management in small business....................................3P3 Explain and evaluate different processes of customer relationship management for smallbusiness enterprise..................................................................................................................4TASK 3............................................................................................................................................5P4 Produce a monthly cash flow forecast showing fixed and variable cost set against incomeof an organisation...................................................................................................................5P5 Break-even analysis...........................................................................................................7P6 Key financial statements and its implementation in the organisation...............................9TASK 4..........................................................................................................................................11P7 Key legislation and regulations that implement on small enterprise in successful way.11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONManagement and running of a small scale business is a big challenge that is faced by theSME's and are handled with extensive care and skill. The entrepreneur or the management of thebusiness entity will look after the effective rise in capability to effectively handle the businessactivities followed by the firm (Schaper and et.al., 2014). Other than this, various factors andelements are been taken in consideration by an enterprise in order to generate a decent amount ofprofit and handle the business operations and actions in a very effective manner.For the report, Qubic Hotel isbeen selected. This is small sector business, which dealsand works in hospitality sector. The report will focus upon the various sort of considerations thatare been taken by cited business organisation to effectively manage and run its businessoperations. Besides this, the effective customer relationship management is been taken inconsideration. Along with it, a monthly cash flow forecast is been presented by the firm toanalyse fixed and variable cost as compare to income of the firm. Other than this, the applicationof break even analysis and interpretation of different financial statements for an organisation arebeen analysed and how it contributes in successful management of the business (Crane andMatten, 2016). Apart from this, the key legislation and regulations having an implication on aSME are been taken in consideration.TASK 1P1.Consideration of small business and implement planning and allocating of resourcesA widerange of factors are been develop to increase effective results in enterprise thatwill help in good rise in effective handling offunctions thatsupport an effective managementand execution of business operations and activities (Westrenius and Barnes, 2015). The citedhospitality enterprise will look after the effective handling of business operations. The factorsthat includes inconsideration by the business organisation are:Resource planning:this involves themanagement of operationsand thus will help in theeffective utilization of the available resources and assets that are been possessed by thebusiness organisation. The effective assessment of the resources will help in goodexecution of the business operations and thus will support a good growth anddevelopment of the firm. The proper utilization and management of the resourceallocation which will help in production of high quality product and services for1
customer. Other than this, it will help in increase in knowledge and skills as per therequirement in job specification (Steingold, 2017.).Being a good employer:the management of Qubic Hotel will see through the effectiveassessment of the skills and knowledgein the organisation that assists tofulfilling thepurpose of the business organisation at different stages. The firm will look after thedevelopment of a good business environment and organisational culture that will supporta effective increase in handling capacity of cited hospitality enterprise. Besides this, theywill also manage the HR policies and execute the recruitment and retention of employeeswithin the firm, improve their performance and facilitate a good team building at thehospitality firm. This will help in development of effective organisational structure.Outsourcing, networks and external advisors: the firm will look after the better rise inthe capability and effective relations with the external advisors and people in networkswithin the firm. Other than this, the outsources, which provide a good help to theorganisation for carrying out their business operations will be effectively considered bythe firm. They will provide the essential help to the organisation like legal support whichare relevant and effective for and SME or social enterprise like Qubic hotel. Other thanthis, they help in promoting a better equality and diversity within a business entity(Schaper and et.al., 2014).Business Plan:effective planning of business is very necessary for theorganisationwhich assists to increases effectivenessin organisation to manage its operations. It willhelp in effective setting of visions, goals and objectives. Other than this, it helps inassessment of available resources and assets that will help in good handling of businessactivities by the firm. Other than this, it will help in risk reduction and gaining asustainability in market.Other than this, different factors like stake holders, investors and distributors or supportstaff is been taken in consideration by the organisation that will help in suitable management ofthe organisation. Other than this, the customers needs and requirements, technical and legalobligations, macro and micro environmental factors are been taken in consideration by the firmthat will supports good handling of business activities by the firm. These factors lay a direct orindirect impact on the business activities followed by Qubic hotel (Hatten, 2015.). These factors2
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document