Austin Fraser: Business Analysis, Performance, and Future Strategies

This report provides a comprehensive analysis of Austin Fraser, a small business consultancy firm. The report begins with an introduction to small business enterprises and an overview of Austin Fraser's services in consultancy and recruitment, particularly within the IT and life sciences sectors. Task 1 focuses on producing a profile of Austin Fraser, identifying its strengths, such as good customer service and international market presence, and weaknesses, including limited market research and a small brand presence. Task 2 analyzes the business's performance using financial statements and comparative measures, including profit and loss and balance sheets for 2016 and 2017. The report then suggests actions to overcome identified weaknesses, such as enhancing promotional activities and conducting market research. It also outlines methods for maintaining existing performance and exploring new areas for business expansion. Task 3 assesses current business plans and objectives, proposing changes and an action plan for implementation. Finally, Task 4 discusses the impact of proposed changes on the business and its personnel, along with strategies for managing these changes and monitoring performance improvements. The report concludes with a summary of findings and recommendations.

Small Business Enterprises

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1 Produce a profile of Austin Fraser identifying its strengths and weaknesses.......................1
1.2 Analysis of business using comparative measures of performance .....................................3
TASK 2............................................................................................................................................4
2.1 Appropriate actions to overcome from identified weaknesses.............................................4
2.2 Methods in which existing performance could be maintained and strength.........................5
2.3 New areas of Austin Fraser where their business could be expended..................................6
TASK 3 ...........................................................................................................................................7
3.1 An assessment of current business plans and objectives .....................................................7
3.2 Business plans to incorporate appropriate changes...............................................................8
3.3 Action plan to implement changes .......................................................................................9
TASK 4 .........................................................................................................................................10
4.1 Impact of proposed change on business and its personnel .................................................10
4.2 Changes can be managed in business..................................................................................11
4.3 Monitor improvements in performance of business............................................................11
CONCLUSION.............................................................................................................................12
REFERENCES................................................................................................................................1

INTRODUCTION
The small business firms are those firms which are owned, managed and controlled on
small scale and it is mostly private owned companies. In these type of companies, small number
of workers are working. The sales revenue of these small organisations are small or not much
high as comparison to large companies (Bridge and O'Neill, 2012). Austin Fraser is a small
business consultancy firm and this company deals in providing the good and satisfactory
consultancy services and also provide the better recruitment services to unemployed people in
the field of Information Technology, Life sciences etc. To increase its business this, firm adopt
new and advanced technology. In this report mentioned about the profile of Austin Fraser and its
weaknesses and strengths. This business firm takes appropriate actions to overcome from the
identified weaknesses in its business operations. Austin Fraser use various ways through which
the existing performance can be maintained and also its strengths. There should be many many
areas in which this company expand its business. To incorporate or to managed the changes, this
company makes many plans and strategies. In this present report mentioned about the impact of
change in business and monitor improvements in performance of business over a given period of
time.
TASK 1
1.1 Produce a profile of Austin Fraser identifying its strengths and weaknesses
Austin Fraser is a small company and there are many small number of people are
working such as 150 or 250. It provides consultancy services to those people who are confuse
towards their future and also gives the recruitment to those persons who are unemployed or can
say who does not have a job. This small business firm renders consultancy and recruitment
services in the field of Engineering, Information Technology, Life science etc. The main motive
or objective of this organisation is to provides good quality customer services so that, more and
more customers attract towards this. In consultancy services, firstly it listen people and after then
give satisfactory advice and it also helps the company so that it can perform better. The
managers and consultant is very open and it deals with its clients in a very polite manner and
then refer the right job for the right people (Schaper and et.al., 2014). To make changes or for
improvement this company, use new technology for maintaining or raising its business
operations. To know about effectiveness or efficiency of business, company should be conduct
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or do the internal or external SWOT (Strengths Weaknesses Opportunities and Threats) analysis.
There are some weaknesses and strengths of this business enterprise.
Strengths- It means the capabilities of company or can say business and it is like a
advantage for firm.
 It provides satisfactory consultancy services to its clients.
 This company has a good image between people or customers.
 It render its services in international markets.
 It provides time to time training to its employees about new technology, change in
business environment, machineries etc.
 It provides recruitment services and also refer right type of job for the right person
(Storey, 2016).
Weaknesses- It is like a disadvantage for a company and also a limitation. In this
includes:
 The name of this company is little unknown for some people.
 This company does not conduct any research or not do the market analysis to
know about the market or the situation of market.
 The consultant and recruitment services of this business firm is in very few areas.
 This small enterprise does not has a strong support system.
Opportunities
 It can give the promotion of its promotion in to new areas and choose better way
to promote company services (Burns, 2010).
 It is the opportunity to this company is to expand its business or services in to new
areas.
Threats
 New legal policies and strategies made by government
 Many strong competitors
These are some capabilities and some limitations of Austin Fraser ans it has to maintain
its strengths and should be work on its weakness and use some ways to overcome from these
limitations or disadvantages.
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1.2 Analysis of business using comparative measures of performance
Austin Fraser is a small firm and so from this it faces many issues from its current or
present competitors in market (Stokes, Wilson and Wilson, 2010. Through the profit and loss
statement and balance sheet, this business firm can analysis its business.
Profit and Loss Account for the year ended 30 April 2016 and 30 April 2017
2016
£
2017
£
Sales 150 225
Cost of Sales 110 200
Gross Profit 92 197
Overheads 75 150
Net. Profit 58 138
Balance Sheet 30 April 2016 and 30 April 2017
£ 2016 £ 2017
Fixed assets 30 10
Stock 18 30
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Illustration 1: SWOT ANALYSIS,
2016

Debtors 12 60
Bank 2 4
Total 32 94
Current liabilities
Creditors 8 30
Bank overdraft 0 10
Total 8 40
Current ratio = current asset / current liability
2016 2017
32000/8000= 4 times 94000/40000= 2.35 times
Interpretation- On the basis of profit and loss statement along with the balance sheet, it
will be easy way to examine the actual financial position of a business of Austin Fraser. There is
a data mentioned of year 2016 and 2017 (Malhotra and Temponi, 2010). With the help of the full
report, this business enterprise know about its actual net profit in 2016m and 2017. In the year of
2016, the net profit is £58 and in year 2017 is £138. according to the balance sheet, fixed assets
in year 2016 are 3 and in 2017 are 10, the current fallibilities of this firm in 2016 is 8 and in year
2017 is 40. the current ration which is calculated of this organisation in 2016 year is 4 and in the
year of 2017 is 2.35.
TASK 2
2.1 Appropriate actions to overcome from identified weaknesses
It is a small firm and from this it has some weaknesses or limitations. This company can
generate the high customer services and also the consultancy services. To overcome from the
weaknesses, this company firstly know about all weaknesses of its business. From all limitations
or disadvantages of its business, some times this business go through from the loss. The main
weakness of this company is that most of the people do not aware about this company and it does
not give more advertisement about its services (Gronum, Verreynne and Kastelle, 2012). So, to
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overcome from all these, this firm has to do the strong promotional activities and it gives
promotion with the help of banners, newspapers, television, through online social sites etc.
Through all this, Austin Fraser can generate the awareness about the its consultancy and
recruitment services. Through this, the sales and revenue of this company will be increased.
The major weakness is that, it does not conduct any research or survey programme to
know about the market or marketing strategies or its strong competitors. To increase business, it
has to conduct time to time research and survey programme from the researcher, with the help of
this, it can easily know about the strategies of rivals and also the market conditions (Herbane,
2010). Austin Fraser has to increase its recruitment or job areas and provides consultancy and
recruitment in other fields like for instance in human resource, marketing, finance etc. Through
this more and more customers will be attracted towards the company.
The technology is very helpful in making every business successful. To overcome from
all the weaknesses, Austin Fraser has to adopt and to use the new and advanced technology. So,
with the helps of this, it makes its business effective and also flexible. From technology, it can
provide its services through online and also provide training to its employees in an easy way
(Altman, Sabato and Wilson, 2010). If this business organisation provide its services online then,
it will be easy for customers because they can take services without going company. It is cost
saving and time consuming. Technology helps in making payment easy.
2.2 Methods in which existing performance could be maintained and strength
Customer Essence: The first method is to analyse the existing performance is customer
essence. In this method,owner will be expending their resources more efficiently for
development their firm. The firm need to be sure that the basic key of their business is
performing well.
Measure performance: The firm managers in regular way to evaluate the performance
measures methods to assess things such as popularity of their firm,their operational
efficiency so they accomplish their objectives and goal .
The customers are expecting a different results in every business work. They constantly
search the recent trends and changes in society and according to this changes they will improve
themselves. The team nerves is one of the basic fundamental element of success of this firm. It is
mandatory they need to have a good team leader so their firm achieve huge success. The firm
also expend their resources in different types of activities such as sports week,personality
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development,some types of games which helps to increase their concentration power and
motivation level (Battisti and Perry, 2011). This firm also enhance their reputation to worked like
donate in various institution so their publicity will increase. They publish their templates to
different sites .They also aware of fact that their existing customers are those who worth them for
what they are besides it is easy for firm to work for that customers whom they already know. The
firm maintain their quality program like:
 Respond as effectively as possible to the needs it was designed to meet.
 They are totally concentrate their work according to mission and vision of
business.
 They will maintain their ethical behaviour.
 The factor quality is always economical in long run.
 Firm add their credibility and strength or initiative.
 Staff members maintain their roles and responsibilities so they build their morale
and make them proud of organisation.
2.3 New areas of Austin Fraser where their business could be expended
Firstly we analyse the strength and weakness of Austin Fraser firm. It is important to start
any enterprise we will consider the following functions such as
planning,controlling,organising,directing and coordinating (A. Harris and Patten, 2014). To
avoid the poor business location. Firm target consumers will help to search the best location
where the firm business could be expanded. So its profit will maximise. Firm investigate the
different funding sources such as venture capitalist, commercial banking and other financial
institution for the purpose to raise their capital. The firm also avoid the poor credit management
facilities. Firm measure their productivity in terms of publicity articles written,commence a large
contacts. The quality of work must also be consider, it is part of performance appraisal
technique. Austin Fraser maintain their mission and vision statement in which they works.
The major task of Austin Fraser is to find new customers. There are some marketing
techniques which a Austin Fraser works such as networking,customer
referrals,television ,radio,internet,intranet,email marketing.
Some of the opportunities are available are as follows:
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Identification of area of expansion: It is a responsibility of firm to explore their activities
in different target locations. This means target location is contributor to market shares and
profitability of business enterprise.
Export marketing: It increase the growth and profitability of organisation. Firm need to
be business in export market is also known as international trade. There are some hurdles such as
government regulations,cultures and traditions of people.
Research techniques: In modern environment,this method play an important role in
creating opportunities of business firm (Rae, 2010). This includes qualitative and quantitative
technique. Qualitative technique is defined as views and insights of persons both with and
outside the organisation. On the other hand Quantitative technique is defined as to generate the
information to organisation in terms of percentages,comparing performances, comparing the
actual and standard result.
TASK 3
3.1 An assessment of current business plans and objectives
The Austin Fraser is a small firm in size and render the job to those people who are
unemployed and also provides the consultancy services regarding the carrier of people. The
business plan is very necessary for doping any work in a company and it is better for operations
or process of business. Plan is related to what we want to do in future? The main objective of this
company is to increase its productivity by giving the better services to its customers (Forsman,
and Temel, 2011). If this company will render good services which is beneficial for company,
then it will helps in improving the performance of business. The objective of this company is that
it adopt new technology for raising its business. This firm can be introduce new services areas or
to consultancy in new fields like for instance in production and operations, marketing, human
resource etc. If this firm will provides additional and satisfactory services to its customers at the
reasonable cost, then it will helps in increasing the sales, productivity and the profitability of this
business firm.
Objectives of Austin Fraser:
Vision for staff- The vision of this company is to support their employees and also make
them best by providing services.
Customers vision- Give services which are beyond the expectations of clients.
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Vision of Shareholders- To manage the funds in a successfully and to develop the
growth of Austin Fraser.
Business Plans- The plan is generally made by the top management of company and it is
the duty of a manger is to implement it. Plan should be effective and efficient. It should be
connected by the generating new and effective services, make changes or increasing in existing
or current services through minimizing its cost (Jones and Iredale, 2010). The plan should be
motivational for employees. From this, it shows the strengths and the career objectives of each
and every employee.
The major strength of this firm is good recruitment services to consumers. It conduct
training programmes to their employees by using technology and with the help of this it can
provides its services online or though electronic media.
The limitation of Austin Fraser is that it render its services only in some fields and does
not conduct the market survey. To convert this limitation in to advantage, this firm has to
increase its service field.
3.2 Business plans to incorporate appropriate changes
The business plans helps in making the business environment change. The plan should be
flexible and also not impact on the working environment as well on employees. A good business
plan will make business good and a bad plan will make business bad or negative (Blenker and
et.al., 2012). This business firm should be make changes in its services on the basis of customers
or clients tastes and preferences. This Austin Fraser small firm introduces or develops a business
plan for making its business successful. There are some stages are involved in its business plan:
Executive summary- The Austin Fraser is a small business enterprise and it deals in
consultancy and recruitment services. The main objective of this firm is to increase the growth
and profitability by providing the services of better and also render job to unemployed persons.
The sales of this firm is very small.
Description of company- In this business organisation, there is very small number of
workers like for instance 150 to 250 (Carraher and Paridon, 2015). it provides recruitment in
mainly three areas such as Information Technology, Life sciences and Engineering.
Services- It provides recruitment and consultancy services in some areas or fields.
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Market Research- It conducts research programme and with the help of this, it can easily
know about the competitors and their strategies, marketing analysis and also know about the
tastes and preferences of customers.
Target Market- This organisation targets only those people who do not have any job and
confuse about their future. For targeting different markets, this company segments its
abusiveness in to new markets or new areas.
Marketing and Sales- For selling and for aware the customers about its services, Austin
Fraser does the promotional activities like for instance from television, banners, holdovers,
newspapers etc.
Request for funding- This enterprise manage its finance to taking loans or financial help
from banks or their other shareholders.
3.3 Action plan to implement changes
With the help of good action plan, company can accomplish its goals and objectives.
With the help of good action plan, company can understand that what need to be completed
firstly (Bellucci, Borisov and Zazzaro, 2010). It is the main and prior goal of a company is to
achieve the objectives of a company. In related to implement the changes, there are some of the
following points are included:
 The society is very important for business. For implementation of plan, it is
necessary to see that, the plan is beneficial for the society or not.
 Recruit and select those persons who have good skills, capabilities and
knowledge.
A business plan should has a proper structure and framework. Top management of Austin
Fraser company introduces or develops a plan. When this business firm implement a plan, then it
uses 7's of planning and that are:
Strategy- The strategy of a plan should be good and the objective behind this is to gain
the competitive advantage.
Structure- The structure of company or business should be clear and every employee or
manger have to clear about to whom they will reporting.
System- For implementation the changes, there should be the proper system and from this
every employee should be engaged in regular activities of all employees.
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Shared Values- Under this values, there are some values, norms, customs etc. are
included and these all are the core values of this business firm that are proved in business culture
or rules or regulations related to wok.
Style- In this business firm, there are many different types of leaders are working and
their role is different from another (Lambert and Davidson, 2013). Leader can be autocratic,
democratic, transformational etc.
Staff- The employees of this company should be capable, and they should have proper
knowledge about their work.
Skills- Employees should have soft as well as hard skill, so that they can do their work in
a better way.
TASK 4
4.1 Impact of proposed change on business and its personnel
The proposed change can be impacted on the business or on employees of company. The
change can be good for company and can not be. It can also affect the operations of business or
environment of workplace and through the the productivity or growth will be reduced. Some
times, employees are not comfortable in changing environment, so on this company most of the
times, the change can be helpful in gaining or can say maintaining the competitive benefits on
the other competitors. There are some of the proposed changes:
Finance- In context to financial proposed change and it is a type of new venture for
Austin Fraser and also its affect will be positive in business environment or workplace (Al-
Dajani and Marlow, 2010). The productivity of an organisation is totally depend upon the
employees or the team members. So, it is the responsibility of manager is to recruit those
employees who has some abilities and skills.
Workload- This business firm already develops its schedule and then work according to
this. The action plan helps in recruiting or select employees or team members who can work on
the new business and which having strong knowledge, skills and capabilities.
Organisational structure- It is necessary to change in the structure of company and also
on the profile of job for making some space for the newly appointed team members who will be
work on the research market.
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