Small Business Enterprise: Impact, Management, and Improvement

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Added on  2023/04/04

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This report delves into the realm of small business enterprises, exploring the impacts of organizational changes and strategies for effective management and improvement. It begins by defining small business enterprises and their significance, highlighting their financial needs and employee counts. The report then examines the implications of organizational changes, including new opportunities, the encouragement of innovation, and the potential for increased mental stress and loss of loyalty. Following this, the report outlines a change management plan, focusing on strategies, organization, motivation, teamwork, and improvement. Finally, the report emphasizes the importance of continuous monitoring of business activities and the role of training and development in enhancing performance and profitability, which are core objectives for every business unit. The report incorporates relevant references to support its findings and recommendations.
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Small Business Enterprise
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Task 4
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Introduction
Organisations which are having less financial needs and
which are having number of employees less than 50 can be
stated as a small business enterprises
It is a suitable option for a business entities which are
having a plan to start their own business can use this. This
business model is having less need of the financial
investment and efforts of the human resources by which
they can get more better profits.
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4.1 Report on the impact of the proposed
changes on the business and its personnel
Organizational change having can help to provide a new
business opportunities for a company. It can provide a long
term growth and development in the long run. There are
various aspects in the change which must be implemented by
the business unit. But such changes having a an impact on the
business performance and the employees. These impact can be:
New opportunities:
Encouraging innovation:
Mental stress:
Loss of loyalty:
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4.2 Plan how the changes will be managed
in the business
Change management is refers to the approaches which can be
used by the organizations in order to reorganize all aspects such
as human resource, culture, system, process, methods, delivery
etc. For this the cited business required to make an effective
plan so that they can manage change which as given below:
Strategies
Organize
Motivate
Teamwork
Improve
Measure
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4.3 Monitor improvements in the
performance of the business over a given
timescale.
Continuous monitoring of the business activities are also important. It
can help to improve business performance and customer satisfaction
level. For this they required to make a effective plan and monitor
overall performance of the business on the regular basis.
If there are any loopholes they can improve it in the near future. Apart
from that, training and development also played an important role in
performance improvements.
The manger of the cited business unit are required to provide training
season to their staff so that they can improve their skills and
capabilities with in a time frame which can help to increase
profitability of the company which is a core objectives for each and
every business unit.
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REFERENCES
Bridge, S. and O'Neill, K., 2012. Understanding enterprise:
entrepreneurship and small business. Palgrave Macmillan.
Storey, D.J., 2016. Understanding the small business sector.
Routledge.
Schaper, M.T. and et. al., 2014. Entrepreneurship and small
business.
Nga, J.K.H. and Shamuganathan, G., 2010. The influence of
personality traits and demographic factors on social
entrepreneurship start up intentions. Journal of business ethics.
95(2). pp.259-282.
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