Strategic Analysis and Improvement Plan for Small Business Enterprise

This report provides a comprehensive analysis of Razzmatazz, a theatre school registered under Dragon's Den, and compares its performance with the Royal Conservatoire of Scotland. It identifies Razzmatazz's strengths and weaknesses, particularly its lack of a robust business strategy and monitoring process. The report includes recommendations for improvement, such as implementing better marketing strategies, leveraging modern technology, and enhancing human resource management. It also presents a TOWS analysis to address threats and opportunities, and Porter’s Five Forces analysis to understand the competitive landscape. Furthermore, the report outlines business objectives, reviews existing plans, and prepares an action plan for effective implementation, considering the impact of proposed changes and strategies for managing them to improve overall business performance. Desklib offers a range of similar solved assignments and past papers for students.

Running head: SMALL BUSINESS ENTERPRISE
SMALL BUSINESS ENTERPRISE
STUDENT NAME:
STUDENT ID:
PROFESSOR NAME:

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SMALL BUSINESS ENTERPRISE
Table of Contents
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
Producing a profile of and analysing comparison of financial performance (AC1.1).....................3
Comparing performance of other areas of production, sales, human resource, marketing and
technology (AC1.2).........................................................................................................................4
Task 2...............................................................................................................................................5
Providing recommendation with appropriate justification, actions to overcome the weakness
(AC2.1)............................................................................................................................................5
Analysing the ways through which the performance level could be maintained and strengthened
(AC2.2)............................................................................................................................................6
Suggesting new area where business could be expanded with proper justification (AC2.3)..........7
Task 3...............................................................................................................................................8
Business objectives and plans of Razzmatazz (AC3.1)...................................................................8
Reviewing the business plans (AC3.2)............................................................................................9
Preparing an action plan for proper implementation (AC3.3).........................................................9
Task 4.............................................................................................................................................11
Impact of the proposed changes (AC4.1)......................................................................................11
Planning ways to manage the changes (AC4.2)............................................................................12
Improvement of the performance of the business (AC4.3)...........................................................12
Conclusion.....................................................................................................................................13
Reference list.................................................................................................................................14

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Introduction
This assignment focuses on the business activities of small business enterprises. In this
assignment, a brief detail of the small business has been given in order to show the performance
level of the small business organisation. A details comparison of productions, sales and
technology have also been analysed in this assignment. Apart from this, appropriate monitoring
process has been discussed in this particular assignment in order to improve the performance
level of the business organisations. In this assignment, Razzamataz and Royal Conservatoire of
Scotland have been chosen in order to show the loopholes, flaws and various factors that effect
on business activities of these companies. These two companies are registered under the
Dragon’s Den. This assignment sheds light on the financial performance level of these two
companies. Appropriate business plans have been given to these companies in order to improve
their service level. The various procedures that these companies have used to improve their
business strategy have also been given in this assignment.
Task 1
Producing a profile of and analysing comparison of financial performance
(AC1.1)
Razzmatazz is one of the companies registered under the Dragon's Den. This company is well
known as the theatre schools and this company offers special training for dance, singing and
drama. It has been observed that this theatre company offers their facilities mainly to the
children. Adult people are not allowed to join this company to take their expertise training for
dance, singing and for the purpose of drama. Denise Hutton-Gosney founded this company and
as per the profile of this company; this company allows 2-18 years of children to take part at
their training course to have wonderful experience about dance, singing and drama. This
company not only train the children but also provide them an opportunity to increase their energy
level, confidence level in order to provide them a better, secured, bright future. The background
history of this company reflects the story behind its success. Denise Hutton-Gosney has chosen
the Dragons Den to launch their theatre schools and it has been observed by viewing the history
of this company that Dragon's Den provides their helping hand to the Razzmatazz to open their
theatre for providing training. In the year of 2010, the managing directors of this company take

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the help of Bannatyne's in order to launch their 40 outlets for the children. As per the record of
this company, it has been observed that this company also makes a contract with the two major
brands like Thomson and First Choice in order to meet their goal, to expand their business in a
large area across their nation.
The main weakness of this company is that this company fails to follow the proper business
strategy, monitoring a process and appropriate business plan and as a result, they fail to have a
strong position in the market. Apart from this, it has been seen that besides the weakness, this
company has many strengths that help them to have great popularity among the people.
The main strength of this company is that this company provides unique, good quality services to
the people. They hire professional experts from all over the world in order to provide the
children the proper training. Apart from this, the respected company also helps children strong
mental support that help them to improve their energy level, the confidence level
(Razzamataz.co.uk, 2017).
SWOT analysis-
Strength
 Well known organisation and the
reason is tat it is proving service to the
students from long period of time
 Excellent facilities
Weaknesses
 Lack of strategy to make the
organisation more effective and
efficient.
 Due to advanced technology the
organisation is suffering from lack of
monitoring system
Opportunity
 To make more effective
 To make more efficient for the students
by providing them opportunity to work
with the well known personalities.
Threats
 Lack of professional experts
 Other establishes organisations are also
a big threat.

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Comparing performance of other areas of production, sales, human resource,
marketing and technology (AC1.2)
It has been seen that Royal Conservatoire of Scotland also offers similar courses; facilities to the
people and the main business area of this company are Scotland. As per the financial report of
these two companies, it has been seen that at current year Razzmatazz have invested £ 60,000 for
30% and this company have 90% of equity share from the business. On the other hand, Royal
Conservatoire of Scotland has also invested £ 70,000 for 40% and this company have 97% equity
share from the business.
Razzmatazz has provided their services only for the children and on the other hand, Royal
Conservatoire of Scotland provides their services to the adult people. Razzmatazz only provides
training for singing, drama, and theatre. This company does not provide any additional training
classes for instruments, opera, strings and many others. On the other hand, Royal Conservatoire
of Scotland provides training service and provides educational services to the people. This
company also provides facilities for dance, production, drama and special training, education for
managing screen (Hilmersson, 2014). It has been observed that there is a huge difference
between this company regarding the marketing, human resource management, sales percentage,
and technology. As per the present records, it has been witnessed that Razzmatazz fails to follow
proper marketing strategy and the management of this company fails to maintain proper
monitoring process at their company. This company offers their training courses at a lower price
to the people. This kind of offerings, strategy helps them to hold their brand image among the
people. However, this company provides their services only for children and this effect on their
business sales as they have very small amount of profit from their business. It has been observed
that this company does not use modern technology, an instrument for the training purpose, this
company prefers to use traditional technology to train their children and for the performance.
On the other hand, it has been seen that Royal Conservatoire of Scotland has followed unique,
appropriate marketing strategy, in order to improve their service level and the management of
this school, maintained proper monitoring process that they can check the performance level of
an individual properly. On the other hand, it has been seen that this company also uses latest
modern technology for their academic purpose. The proper strategic business procedures also
help this school to collect a huge amount of profit from their business and the proper

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implementation of business plans, actions also help them to hold their popularity among the
people and this kind of approaches also help this school to have a good position in the field of
music, drama and dance.
Aspects Razzmatazz Royal Conservatoire
Production The production is good
enough for te students of the
organisation and the students
are getting various facilities to
work in the different sectoirs.
Need to improve the
production
Sales Need to be more effective Good
HR Need to be more efficient Need to improve
Marketing Need to improve the strategy Well improved
Technology Need to use advanced
technology
They already used advanced
technology
Task 2
Providing recommendation with appropriate justification, actions to
overcome the weakness (AC2.1)
TOWS analysis-
Threats
 Lack of professional experts.
 Other establishes organisations are also
a big threat.
Opportunity
 To make more effective
 To make more efficient for the students
by providing them opportunity to work
with the well known personalities.
Weaknesses
 Lack of strategy to make the
organisation more effective and
Strength
 Well known organisation and the
reason is tat it is proving service to the

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efficient.
 Due to advanced technology the
organisation is suffering from lack of
monitoring system
students from long period of time
 Excellent facilities
Razzmatazz has various weaknesses and it is very important to overcome the weaknesses.
Razzmatazz can perform their activities like theatre, dance, and drama and sing more effectively
if they overcome their weakness. Proper business strategies are important to run for a long time.
Business strategies can lead any such organisations success and failure (Braglia & Frosolini,
2014). Therefore, the importance of the business organizations must keep in mind during making
their strategies. Marketing research is an important factor for making the organisation more
effective so marketing research can help to the business organisations more efficient to develop
the organisation.
Marketing strategy can help to Razzmatazz to leave their mark in the mind of the people. Apart
from this, the analysis of the need and the demand of the people can make the organisation more
efficient (Tricker, 2014). They can understand that process of collecting more people to make the
organisations more effective and appropriate. The monitoring process is another weakness of
Razzmatazz, it can make the organisation about the various activity of the organisation so that if
they have any such weakness then they can convert their weakness into a strength. Monitoring
process must be improved with the help of advanced technology so that the organisations can
collect the entire activity. It is very important to improve the monitoring process of the
organisation so that they can make them more enlarge. Apart from this, another weakness is to
maintain a proper plan. Besides, strategies need to make a proper plan. To make the effective
plan, the human resource management of Razzmatazz must be effective enough (Eid & El-
Gohary, 2013). A plan likes to attract more people, to develop and so on. Proper planning of the
organization can lead to them towards success and same way improper and unrealistic plan can
lead them towards failure. Razzmatazz can overcome all their weaknesses by following the
above-stated matters. Razzmatazz is already a well-established organisation so they need to give
some extra effort to solve their weakness.
TOWS analysis-
Threats Opportunity

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 Lack of professional experts
 Other organisations  To make more effective
To make more efficient for the students
Weaknesses
 Lack of strategy
 Lack of monitoring system
Strength
 Well known organisation
 Excellent facilities
Porter’s five analysis-
Threats of substitution- This is less threat for Razzmatazz because they have proper
management, so they do not have any problem with the substation. They have reputation in the
market and well established.
Threats of consumers- This is medium threat for Razzmatazz, thus can make the profit of the
organisation less.
Threats of New entrants- Razzmatazz have less threat for the new entrants in the market. The
organisation is well aware about new entrants.
Threats of power suppliers- This is a big threat for Razzmatazz. The power suppliers are the
main priority to this organisation.
Threats of rivalry- This is medium threat for Razzmatazz. The organisation has proper facilities.

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Figure 1: Porter’s five analysis
Sources: Created by author
Analysing the ways through which the performance level could be maintained
and strengthened (AC2.2)
It is very important to maintain the performance level of Razzmatazz so that they can
continuously improve their performance and can make more strengthened. Razzmatazz can
employ well-experienced and professional teaching facilities so that they can attract more
candidates. The facilities of learning singing, drama, dancing can be more effective. To make the
theatre more effective need to make the stage directions properly and to employ the professional
dramatist so that the performer must be attracted towards the organisation. In a country of UK,
the demand of theatre is always high (Schaupp & Bélanger, 2013). Therefore, the organisation
must keep in mind the demand of the people. Theatre is the representation of the society so if
Razzmatazz can make their facilities for a theatre more attractive than the performance of the
organisation can be more effective. Apart from this, the singing of the organisation is already
improved and they must make the facilities of the singing more effective and they must keep
some professional singers so that they can provide proper training to the candidate. Razzmatazz

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must organise their faculty for the western classical music more effectively so that they can make
their organisation more strengthened (Jones et al. 2014). Due to proper teaching facilities of
singing, Razzmatazz can make their performance more strong and effective. In the matter of
dancing the management of Razzmatazz, need to employ various dancing styles and professional
dance master, so that they can provide proper training to the new candidate to make them more
effective. In Razzmatazz all, the facilities of singing, dance, theatre and drama are already well
developed but if they make their facilities more efficient and attractive then they can attract more
candidate and they also can make their performance level high. Razzmatazz can make a various
advertisement to join in their organisation, so that many people may be well aware. Apart from
this Razzmatazz can organise various types of competitions so that they can make many big
personalities to their judge. It can draw many people's intentions towards their organisation.
Suggesting new area where business could be expanded with proper
justification (AC2.3)
There are various areas where the business of Razzmatazz could be expanded, such as the areas
where there have no such organisations like Razzmatazz, at those places according to the
demand of the candidate, they can establish their organisation. The management of Razzmatazz
needs to gather information about the demand and the need of the people so that they can
identify the area where they can establish their organisation (Blackburn, Hart & Wainwright,
2013). It is one of the best processes of expanding the business of Razzmatazz. Marketing
research can help to them to find out the right place. Razzmatazz can start new television channel
and through this, they can provide some basic courses free of cost so that the popularity of the
organisations must be increased and the awareness about this organisation must be developed
among the peoples. To expand any business the most important factor is to increase the
awareness of the organisation (Mason, 2015). Apart from this Razzmatazz can provide some
demo classes for the beginners and they can provide to the new candidate some concession so
that this facility can attract more candidates to join the organisation. Razzmatazz can promote
their organisation with the help of some popular personality so that they can reach to the people
easily. Razzmatazz can organise some competition where the people can participate free of cost,
this way they can expand their business. They can give advertisement in the popular newspaper.
At present time, the usages of social media are excessive so Razzmatazz can promote their

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organisation through facebook, twitter, youtube. They can update their various live events, music
concert in the social media so that the people must be attracted towards their organisation. This is
another important stage to promote their business (Wilton, 2016)
Task 3
Business objectives and plans of Razzmatazz (AC3.1)
Every organisation needs to set their organisational objectives and plans very carefully in order
to expand their business in a large area and in order to achieve a huge amount of revenue from
their business (Longenecker et al. 2013). Apart from this, organisational objectives also reflect
the values, beliefs of the organisation that attracts the mind of the people. The organisations also
need to use the strategic business plans that they can have a good reputation in the market. On
the other hand, the proper business plan also helps the business organisations to improve their
service level that they can provide the people the best services. Therefore, the business
organisations need to set their business plans based on their organisational objectives. Similarly,
like the other organisations, Razzmatazz also has their own organisational objectives that reflect
their aims, mission, values and goal. The main objectives of this company are
● To expand their services in a large area of their domain
● To improve their training procedures
● To provide academic facilities to the people who are interested in music, dance, theatre,
instrument and vocational field
● To improve their monitoring process that they can keep the performance record of
individuals properly
● To spread their services globally and it is their prime concerns that they can provide the
children a huge confidence that may enlighten their future
Razzmatazz needs to improve their monitoring process that they can identify the loopholes, flaws
in their organisations that may hamper their services (Kerzner, 2013). This company also needs
to improve their human resource management in order to hire an expert, professional persons
belong from the different genre like opera, instruments, screening and so on. On the other hand,
this company needs to follow a strategic business plan in order to expand their service area. This
company also needs to look at the technological advancement that they can have modern, latest
technology in order to train the children in a more attractive manner. This company needs to

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provide e-learning facilities to the children as it makes a great audio-visual effect on the mind of
the children.
Reviewing the business plans (AC3.2)
Razmataz needs to acquire unique marketing strategy by providing extra facilities to the children.
By following the proper planning, this company needs to provide their facilities also to the adult
as this kind of initiative also helps them to improve their brand image. This kind of approaches
also help them to have a huge profit and also helps them to have and this kind of approach also
very effective for them as it helps them to hold their good image among the people. This
company also needs to use the latest, modern technology as it helps them; to improve their
training procedures and the effective training methods also helps them to make the children more
enthusiastic, confident and energetic (Villa, 2014). This kind of initiative also effective for this
company as it helps them to establish their company as a large leading company in the field of
fine arts.
Apart from this, the selected company also needs to develop their technology as it helps them to
train the children, adults in a more effective manner. On the other hand, this company can
organise a concert, dance shows, reality shows and this effective practices helps them to find out
the hidden talent and it helps them to make the people realise about their talent, skills. This also
shows the people, children the right track that they need to follow in order to have a successful
life. The improvement of human resource management may be effective enough for this
company as it helps them to identify the risk factors, loopholes in their activities that they can
mitigate the problems by implementing proper planning. These also help them to improve their
service level and it helps them to have expertise advice with them (Chang, 2016).
The human resource management of the organisation need to be more effective and efficient.
The HR department need to recruit the employees who can help to meet the goal and objectives
of the organisation. Apart from this, the marketing strategies of Razzmatazz need to be effective
enough to attract many students. They can employ some effective strategy so that the
organisation can be more productive and more profitable. The marketing operations need to
examine the market demand so that the organisation needs to fulfil the demand of the customers.
the finance department of the organisation can make their own goal and the organisation needs to
be more effective to reach the goal of Razzmatazz.

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Preparing an action plan for proper implementation (AC3.3)
Strategic
objectives
Proposed
Action
Milestones
tasks
Responsibl
e person
Target
date
Success
indicator
Progress
To expand
their
services in a
large area of
their
domain
Secure
finance to
expand
Funding
secured
Finance
department
15-03-
2017
The fund is
well
secured
Have
barriers like
rivalry but
making low
progress
To improve
their
training
procedures
Develop
training
course
Need more
time The
employees
are effective
now
To provide
academic
facilities to
the people
who are
interested in
music,
dance,
theatre,
instrument
and
vocational
field
To improve
their
monitoring
Need to make
advertisement
to make them
aware about
the
organisation
Need to use
more CCTV
camer
Need Extra
money The trainer
HR
20-03-
2017
12-04-
Training
facilities is
growing
People are
more
interested
The
organisations
now well
recognised
by the
people

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process that
they can
keep the
performance
record of
individuals
properly
2017
People are
more
interested
To spread
their
services
globally and
it is their
prime
concerns
that they
can provide
the children
a huge
confidence
that may
enlighten
their future
Need to
establish
more
organisations
Need to
make the
fund
HR
22-04-
2017
The issues
are
resolving in
the
organisatio
n
There are
many
barriers but
still
progressing

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Task 4
Impact of the proposed changes (AC4.1)
The impact of changes can be huge for the activities of Razzmatazz. The proper implementation
of marketing strategy may help them to increase the percentage of profit. Apart from this, the
proper marketing strategy also helps this company in risk assessment and it helps them to
understand the current patterns of music, drama. This also make the management of this
company to understand what kind of musical style, what kind of actions, passion, scenes, moral
value people wants to watch in drama. This kind of information also makes this company
understand that they need to follow the correct trends more in the case of drama, theatre as the
traditional thinking in a drama is obsolete. The effective changes in marketing strategy also help
this company to understand the craze for instrumental music is high at present situation.
Therefore, this company needs to give more focus on this part.
On the other hand, the technological advancement also helps them to meet the requirements,
needs of the people as it helps them to increase the level, of customer satisfaction (Sahut & Peris-
Ortiz, 2014). The technological advancement also helps them in their training procedures
effectively as by using technology they can identify the little fault, technical fault in music. The

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usage of modern technology also helps them to make a good connection with the people and this
helps them to inform people about their activities, new facilities. By using the proper planning,
they can arrange for a musical concert, dance shows and reality shows to introduce the new
talents to the people. The concert shows also helps them to have the feedback from the people
that is necessary for their future progress.
Planning ways to manage the changes (AC4.2)
The respected company needs to look at the facts of the responsible people and the trainers to
perform their duty properly. This company also need to look at the fact that all the individuals
perform their duty properly or not. The organisations also need to notice that they can implement
all the planning effective in the company in order to have a strong position in the market. This
company also needs to form a risk management that only deals with the risks factors in their
company in order to solve the factors in an efficient manner that they can promote their activities
without any disturbance. Apart from this, Razzmatazz also needs to form a committee that looks
after the music concert, reality shows and dance shows as it also helps them to have a proper idea
about the fruitfulness of these strategies.
Figure 2: Change Model
(Source: Braglia & Frosolini, 2014)
On the other hand, this company also needs to provide extra session where they can directly
communicate with the people in order to explain their next steps and have feedback, opinion
from the guardian, people what they need to do for more improvement. They also need to look at
their capital funding, economic capacity in order to manage the new changes successfully. It has
been observed that this company cannot manage the changes, expand their service area without

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having sufficient financial support as a large number of an amount is needed to conduct
organisational activities in a proper manner. Apart from this, the selected organisations need to
adopt the modern trends, patterns that they can easily attract the mind of the people. The
management also needs to look at the fact that they also need to maintain traditional genre,
besides the western genre as different people prefers different types of music.
Improvement of the performance of the business (AC4.3)
Razzmatazz has improved a lot as per the comparison with the previous year. As per the
financial record of the previous year, it has been recorded in the past two years it invests near
about £65,000 for 35% that indicates towards the small amount of revenue, profit from the
business. However, the improvements have been seen when the people have their look at the
financial record of the current year and it has been observed that the investment amount in the
current year is more than the previous two years that indicates the huge amount of profit, revenue
from the business. It has also been observed that this company has a limited number of followers.
However, the current scenario represents the total scenario from the previous years as the
percentage of satisfaction level, level of popularity have been increased at a record number of the
previous years. On the other hand, according to the opinion of the people, it has been seen that
this company does not have proper monitoring process, followed traditional techniques for their
services as they have a poor technology. However, at present situation they use the latest
technology for their services and use better monitoring techniques, follows current trends in
order to keep their strong position in the market. Apart from this, Razzmatazz only focuses on
the training procedures, energy level, a confidence level of the children whereas the present year,
they also focus on the needs, likings and on the new talent that may bring recognition for the
company. In comparison with the previous year, it has been seen that the selected company
provides many extra facilities like training for vocational courses, basic course of instrumental
music and this approach increase the acceptance level among the customers. This company has
developed their management infrastructure and improved their human resource management
from the previous year and this helps them to evaluate their level of expected outcome in a better
way. The improvement of human resource management in comparison with the previous year
also helps them to find out hidden talent that may bring a competitive advantage for them. This
kind of initiative also helps this company to have world recognition that may help them to

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establish their company as the leading company and helps them to be the best example of
success, reputation for others.
Figure 3: Trend graph
(Source: Self-developed)
Conclusion
After analysing the overall situation, it can be said that Razmataz has to improve their service in
order to increase the satisfaction level of the customer. After viewing the financial record of the
respected company, they need to develop more in their training procedures and in the activities.
The managerial section of this company needs to follow the modern trends in an efficient manner
in order to have the competitive advantage in the market. Viewing this assignment, people can
have a broad idea about the activities, improvement procedures of this company. This
assignment also makes the people understand the marketing strategy, planning and the possible
changes that this company has taken, done for the beneficiary of the children.

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