Retail Business Performance Analysis
Added on 2020-06-04
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UNIT 33 SBE
Table of ContentsINTRODUCTION...........................................................................................................................11.1 Smart objectives of the organisation and strength and weaknesses.....................................11.2 Analysis of SBE using comparative measure performance ................................................22.1 Recommendation to overcome weaknesses .........................................................................32.2 Ways to improve existing performance of SBE to maintain strength...................................42.3 Recommendation to expand SBE in new markets ...............................................................43.1 Assessment of existing business objectives .........................................................................63.2 Revised business plan to incorporate changes and to overcome the weak point in currentplans............................................................................................................................................63.3 Action plan to implement changes........................................................................................74.1 Impact of changes on SBE....................................................................................................74.2 Managing proposed changes in SBE.....................................................................................84.3 Monitoring improvements in performance ..........................................................................8.........................................................................................................................................................9CONCLUSION...............................................................................................................................9References .....................................................................................................................................10
INTRODUCTIONBusinesses which have low volume of sales and have small number of employees arecalled small business enterprise. These business are growing at faster rate worldwide. Smallbusinesses are started by small groups and operated privately. LSE retail group is a smallbusiness venture of United Kingdom. The enterprise was founded in 2009 and it is fastestgrowing retailer company of the region. The organisation provides lighting accessories likebulbs, tube lights for homes and commercial buildings. Present report describes about smartobjectives of the company. Theories have been applied to identify the comparative measures forthe business organisation. Further more, weaknesses of the company has been determined.Factors affecting objectives of the business have been discussed. Action plan have been madefor the organisation in order to improve the growth of company.1.1 Smart objectives of the organisation and strength and weaknessesLSE retail group is retail company which sales lighting accessories for homes andmercantile markets (Harris and PATTEN, 2015). The organisation is one of the largest wholeseller of lighting accessories inthe country. Aim of the company is to grow in other countriesmarket by delivering superior quality products to its customers. SMART objective of the LSEretail group is as follows: Objectives Objective of the company is to develop it business in global market of Unitedkingdom. The organisation is trying to achieve sales of 4 million GBP in the target marketarea. The small business is focusing on opening 60 stores in the country to adoptassertive promotion to increase it sales. The organisation has to make some strategies to achieve this objective. Many companies in themarket of country are making strategies to attract customers (Al‐Najjar, 2015). Currently thebusiness is operating at very small scale so it have to use some strategic approaches to survive incompetitive markets. It is a customer oriented company which focuses on satisfaction ofconsumers. Following are some strengths and weaknesses of the organisation : StrengthStrength of the LSE group is that it is strongly committed to the customers. 1
It provides high quality of products and satisfies its customers. The company has been working since 8 years in the SBE industry and have long termexperience. Profitability of the organisation is moderate and it is increasing steadily.Number of workers is less and its easy for company to provide them training according tothe needs. WeaknessThe company is lacking in proper market research.Organisation has been liquidity problem.Employee flexibility is very much in the company due to which some employee takesadvantages of them. KPI: Key performing indicators of the organisation are human resources, customer satisfactionand employee motivation .1.2 Analysis of SBE using comparative measure performance It is required that LSE retail group should conduct proper analysis to identify thecomparative measures of company's performance.Comparative measure performance for human resource of the organisation is as follows: Data for 2016LSE retail group Data for industry average Turnover of workers andemployees 8 %48 %Rate of absenteeism 6 % 12 %Recruitment of staff members 20 %9 % Employee satisfaction in job 80 %60 %From the above table it can be concluded that turnover of worker in the company is relativelylow. Rate of absenteeism is moderate as compare to the other companies. Organisation iscontinuously recruiting employees to increase its worker base. Job satisfaction is relatively highin the business organisation. Comparative measures performance for customer satisfaction Data for 2016 LSE retail group Data for industry average Market value of business 5 3Quality of product 432
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