Cocofina Company: Impact of Changes and Performance Monitoring

This report provides a comprehensive analysis of Cocofina, a small business enterprise, focusing on its performance, weaknesses, and potential for growth. It begins with a profile of Cocofina, including its objectives, activities, organizational structure, and competitive landscape, followed by a SWOT analysis. The report assesses the company's performance based on customer satisfaction, employee motivation, and business quality, identifying areas for improvement. It then proposes actions to overcome weaknesses, such as seeking government support, implementing appropriate planning, and effectively managing activities. Strategies for maintaining and strengthening existing performance are analyzed, emphasizing market research, customer feedback, and participative leadership styles. The report recommends market penetration and product development as expansion strategies, utilizing the Ansoff matrix. Furthermore, it assesses Cocofina's existing business and plans, including its business objectives and proposes an action plan to implement changes, manage their impact on operations and personnel, and monitor performance improvements. Desklib offers similar solved assignments and resources for students.

Small Business
Enterprise

Table of Contents
Introduction.................................................................................................................................................3
TASK 1.......................................................................................................................................................3
1.1 Produce a profile of Cocofina Company............................................................................................3
1.2 Analyses the performance of small business enterprise.....................................................................4
TASK 2.......................................................................................................................................................5
2.1 Appropriate actions to overcome the weaknesses..............................................................................5
2.2 Analyses ways by which existing performance could be maintained and strengthen.........................6
TASK 3.......................................................................................................................................................7
3.1 Assessment on existing business and plans........................................................................................7
3.2 Prepare business plan for appropriate changes to overcome weakness of existing plan.....................8
3.3 Prepare an action plan to implement the changes..............................................................................9
TASK 4.......................................................................................................................................................9
4.1 Impact of changes on the operations of cocofina and it's personal.....................................................9
4.2 plan how to manage these proposed changes at Cocofina Company.................................................9
4.3 Monitor improvement in the performance on the operation of the business....................................10
CONCLUSION.........................................................................................................................................10
REFERENCES..........................................................................................................................................11

Introduction
Small business enterprises are helpful in supporting economic system of United
Kingdom. They are major players who enhancing growth, open new market and create large
employment opportunities. In these businesses, there are large numbers of individuals who make
creative goods and items for the people. The UK government motivates small businesses and
almost 90% companies are small enterprises in the country. This report is based on Cocofina
which is retail firm and serves foods and drinking products to the companies and offers snacks,
water and baking ingredients and some other items to the people. It is most successful businesses
of dragon dens series of UK (Bridge and O'Neill, 2012).As per the case study, Dragon dens
which is reality television show and pitching their business ideas in investment finance. The
millionaires are willing to invest capital to start a business in the "Shark Tank". The purpose of
this study is to understand various approaches and also analyze weakness which arises during
profitability and productivity.
TASK 1
1.1 Produce a profile of Cocofina Company
Small business enterprise refers to that business which has less than 10 million turnovers
and also they have only 50 employees who work for them for achieving target goals and
objectives in proper manner. There are some points which represent whole scenario of this
business is as follows:
 Objectives- the main objectives of cocofina firm are to serve high quality of food items
and services to their consumers at affordable rate. There are three basic aims which
attract large number of customers towards the company such as environment, hygiene
and reasonable rate of products (Schaper and et. al., 2014). They mainly focus on
customer satisfaction which remains them for long time period.
 Activity and organization structure- There are different types of items which an
enterprise will offer to their buyers at reasonable price. They try to expand their business
in all over the world which increases their growth and development. The firm will follow
hierarchy structure that help in easily provide information to the top management in
proper manner.
 Competition- In UK, there are different types of firms which hold market in effective
manner and there are very large competition in the market. The enterprise is mall in size
so that they will provide foods only to 50 people at a time and large organization are
easily offers products to 100-110 people at the same time properly (Small business
enterprise. 2017). They face huge competitions with large businesses in the big market
place.
 History- It is small business enterprise which establishes in United kingdom and it serve
various types of products and services to their customers at reasonable rate. They mainly

offer water, baking ingredients and snacks to their buyers. Cocofina is the most
successful businesses of Dragon dens series which is popular television show.
SWOT analyses of Cocofina Company are as under:
Strength Weaknesses
 It has popular location where customers
are easily attracts
 Experienced staff members
 Provide quality products and services
 Capture large market area
 The firms process is not properly
organized in better manner
 Confusion among employees regarding
company structures
 Lack of proper administration and
scheduling process within an
organization
 Lack of proper funds which create issue
at the time of launching new products
Opportunities Threats
 Required to expand their business
 Cover large market area of other
locations
 Choose attractive places which increase
number of customers towards their
goods and services
 Very large competition in the market
 Capacity of investment and finance is
less in comparison to large organization
 Entrance of new firms in the industry
1.2 Analyses the performance of small business enterprise
There are three measures which analyze performance of the company which are as
follows:
Customer satisfaction- The firm will try to satisfy their consumers by providing various
types of products and services that fulfill their needs and demands in effective manner. They also
serve quality goods and services which attracts large number of buyers towards them. The
performance of firm is totally based on customer's satisfaction which measures their growth and
success level in better manner (Storey, 2016). According to the theory of Assimilation,
customers will demand some differentiated goods to the cited firm with the other organization
and apparent performance which are related to various services and food items. The main key
factors which attracts customers towards their products such as sound environment, quality food
and reasonable price.
Employees motivation- Firm are try to encourage their workers for doing best
performance and achieve target goals and objectives in proper manner. Workers are main part of
an organization which help in increasing company growth and develop the whole market
activities. The manager of enterprise applied some strategy are totally depends on employees
skills and experience. They mainly focus on enhancing workers performance on the basis of their
work. According to the theory of Mc George motivational concept, they measure employee's

performance and also analyze their work. The workers who are under Y category are highly
motivated with this concept and who are under the X theory is much less encouraged with their
performance. It is the main responsibility of firm is to analyze whole task scenario of each
employee in effective manner.
Business quality- In the context of Total Quality Management, can resolute the position
of expectation of required customers and provide them needed services and products (Burns,
2010). Cocofina need to adopt various types of techniques and methods which assist in
enhancing their organization growth and success. The basic objective of this firm is to offer high
quality products and services with reasonable prices and provide clean atmosphere. In an
organization, there are some employees who dissatisfaction with their job which create different
issues during productivity of goods and products.
TASK 2
2.1 Appropriate actions to overcome the weaknesses
There are different measures which help in overcoming weaknesses that are as under:
 Support from authorities- The government provide funds and other facilities to small
business enterprise and also help in offering loans and recommended services. There are
different types of policies and schemes which assist them in increasing their business in
other locations. This will offer low rate of services and provide many other services to the
small firm. In the case study, dragon dens also open other business which has to enhance
their growth and development in better manner (Blackburn, Hart and Wainwright, 2013).
There are three millionaires who interested to invest some capital in this business for
earning maximum profit. Correct investment assists in enhancing growth and also
influence to higher services of the cited organization.
 Appropriate planning- The company manger required to plan and organize various types
of strategies and policies which should be recorded in better manner and also provide all
information and data sources to their employees which help in execute the performance.
This activity cannot help in gaining cost but still they required to understand the process
of management of enterprise. Also analyze different types of approaches and concepts
that influence growth of firm.
 Managing the whole activities- The functions and actions of each employees should be
measured by manager and also analyze work performance which required to know the
exact work. It is the duty of employers to take reviews and feedback of their workers
activities which are performed within an organization. All the work is doing for
accomplishing effective goals and objectives in proper manner. Small business enterprise
helps in controlling and coordinating their worker performance and also examines their
work which is based on their performance.

2.2 Analyses ways by which existing performance could be maintained and strengthen
Cocofina required to research whole market area and their competitors strategies which
help in implementing their plans and actions in appropriate manner. They also take reviews and
feedback of their customers according to their demand and wants they required to change in the
products and services (Stokes, Wilson and Wilson, 2010). Firm's employees motivate them for
giving their feedbacks and reviews on the goods and services which help in making decision in
favor of growth and increase reputation. In the small business enterprise, the owner is only one
who takes all decisions and rests of the members are following them. The participative
leadership styles assist in encouraging workers for doing best performance and develop
innovative products for their customers. The quality standard is to be set by employees who
create awareness among large number of buyers towards their products and services. They also
set target which need to be achieved by workers for making useful and attractive goods and
managers analyses the reason of not completing the target aim which is set by them for
increasing the company growth and development. An organization should form structure of
employees and also understand their position and responsibility to them which help in settling in
better way. The delegation of responsibility and duties proactively required to eliminate all
conflicts and misunderstanding within an organization. There are various tools and methods
which assist in measuring performance of employees that include performance appraisal tool.
The whole performance can be analyzed and it aid in overcoming the weakness and maintained
strength of each staff members in an enterprise.
2.3 Recommend with justification any two areas in which SBE business could be expand
Ansoff matrix can implement some strategies to expand business operations of Cocofina
Company in effective manner. There are four types of dimensional matrix that directly reflect
four various strategies and policies which are helpful in expansion and growth of business. There
are four aspects which are as follows:

(Source: Ansoff Matrix,2017)
 Market penetration- It is that strategy which is usually implemented for increasing the
current sales and productivity (Malhotra and Temponi, 2010). These are some services
that will introduce by company owner that includes online booking of table, organize
various theme parties which attract more customers towards their product and services. In
order to decrease the price of food items this directly attracts large number of customers
towards the organisation.
 Market development - It is that strategy which assists in enhancing the business turnover
rate by opening new enterprise in large market. This strategy is not suitable for cited firm
because there is an issue with its fund and large investment is required for developing this
strategy and makes it successful which is not possible at this time. It is important for the
organization to take top position in the market.
 Product development - In this strategy an enterprise can alter their goods portfolio for
enhancing the level of interest and also increase various opportunities to the business.
This strategy can be implementing in different forms for the company such as Wi-Fi
service, modify their interior, make new recipes etc (Down, 2010). This type of alteration
will increase the post of business and also expand the growth opportunities to the
organization.
 Diversification - It is that strategy which is usually assists in setting the profit and loss
amount in different pattern of an enterprise. Recently the cited firm is not in that position
to change business operation and sometime brand image will get diluted.

TASK 3
3.1 Assessment on existing business and plans
Business Objective- The business objective of cocofina is to attract large number of
customers for providing them different types of product and services. The main aim of business
is to earn maximum profit and maintain goodwill in the large market. It is important for the
organization to set benchmark and give proper direction to their employees who help in
achieving target goals and objectives. There is a lake of proper guidance by the company
manager which creates mistakes and errors during reaching the target. There are many ways
which assist in accomplishing the goals which are necessary for the business growth and success.
Process- There are many process which can be followed by organization this will help
their staff members for reaching that goals and objectives. The process of business is not simple
and clear and also creates misunderstanding and barriers among the employees. Sometime
unexpected guest disturbs the whole process of the firm and this will create negativity among
workers. There are some positive and negative impact on this process that includes in positive
side manager directly report all information to the top management. In negative side there is lack
of flexibility in the business process (Rae, 2010). All the staff members are monitored by the
supervisor and the supervisors are managed and control by top managers of the firm. The process
of communication should be effective and assist in maintaining coordination and cooperation
between employees and employers.
Performance indicators - An organization manage the performance of the workers by
observing and analyzing their work in better manner. There are different types of positive and
negative sides of enterprise such as in positive side manager adopt that approach which is helpful
in measuring clear picture of performance and observe their each work or task. In negative side
the lack of proper guidance will reduce employer's performance badly. So it is required to
organize performance appraisal method in which employees get rated by their coworkers and
measure performance with the help of this method.
3.2 Prepare business plan for appropriate changes to overcome weakness of existing plan
To overcome the weakness of the existing business plan, organization can implement Mc
Kinsey 7S Model by which the structure of the firm can be effectively seen by their employees.
There are various elements of Mc Kinsey 7S Model are as under:

(Source: Mc Kinsey 7S Model, 2017)
 Strategy - The firm will adopt effective strategy which help in enhancing the profitability
and productivity of the business such as operation, employees control, marketing and
commercial activities (Burrows, 2015). The marketing strategies are important for the
organization because it assist in promoting company product and services in the large
market and also provide online goods to their customers. An employee can be appointed
for maintaining and controlling all the business operation and function. It is the
responsibility of the manager is to control their workers performance and encourage them
for reaching the target goal. They should provide training and development sessions to
their employees that assist in increasing their performance level.
 Structure - The Company will follow hierarchy structure which helps in communicating
with top management easily. It is helpful in flow information top to down. The
centralized decision making process should be abolished and it provide all correct
information to the particular person. By this workers participate in all decision making
process of the organization and also enhancing their motivation level.
 System - This will essential for smooth running of business operation and activities
within an organization. It is the duty of company manager is to provide daily employment
report to the supervisor at the given time period. The manager will conduct orientation
sessions to their employees that will help in improving the productivity level and increase
growth in career.
 Skill - It is necessary for the manager is to provide proper training and development
sessions to their workers that will assist in improving their skills and knowledge
(Gronum, Verreynne and Kastelle, 2012). It is required for the firm to be concentrate on
market and provide quality product and services to their customers in proper manner.

 Staff - The total employees of the company address the quality services and also
differentiated each and every workers performance. The manager required to control and
manage the performance of the employees and provide right direction which help in
achieving goals and objectives. This will assist in maintaining cooperation and
coordination among staff members.
 Style - It is required for the firm to change their autocratic leadership style. They should
adopt participative leadership style which helps in engaging their workers effectively.
 Shared values - The main aim of enterprise is to satisfy their customers demand and
needs and also maintaining their values they should respect all the cultural values which
help in attracting more customers towards their products and services.
3.3 Prepare an action plan to implement the changes
An organization can change their systems and structure which increase performance level
of the workers (Battisti and Perry, 2011). This will create confusion and misunderstanding
among their employees which can damage the whole process of the business operation. The only
way that will help in applied the modification in the organization such as change management.
The environment of business is variable and changeable that will assist in improving growth and
development (Ackermann and Audretsch, 2013). There are three factors of Kurt Lewin's Model
of change management which are as follows:
(Source: Kurt Lewin’s Theory, 2017)
 Unfreeze - It is the first stage in which manager of the company doing accurate
modifications in current process and plans. If the change are implemented in the whole
organization process that will increase business growth.
 Change- In this stage, the changes will be adopted by the firm as well as employees and
also follow the new procedure of the company that will improve business activity.
 Refreeze - It is the last stage of this model in which changes are beneficial for doing
effective work. It will reduce the level of misunderstanding among employees and reach
desired goals and objectives.

TASK 4
4.1 Impact of changes on the operations of cocofina and it's personal
Changes are necessary for the enterprise which helps in achieving the competitive
advantage. The main goal of an organization is to earn maximum profit. There are two factors
which directly impacts on company growth and development which are as follows:
Positive impact- The changes will enhancing the structure and plans of an organization
and also performance level of their employees. Participative style of leadership is increasing the
level of encouragement without spend any type of cost.
Negative impact- During changing time, there are various issues and problems which
creates barriers within an organization (Herbane, 2010). If an employee will their contribution
during modification time and this will directly impact company growth and success.
4.2 plan how to manage these proposed changes at Cocofina Company
It is important for each employee to take active participation in decision making process.
Proper training and development sessions help in improving their skills and knowledge within an
organization. The firm will adopt Kotter's eight step model which are as follows:
 Employees feel that changes are needed for develop their career growth.
 Second is that workers are lead towards change.
Third steps are design mission and vision which is relates to modification (Gill and Biger, 2012).
 Fourth phase will provide communication method that assist in enhancing performance
level.
 Fifth step is to highlight the errors and barriers which has to eliminated by implement
changes in the firm.
 Sixth phase will help in achieving short term objectives.
 Seventh will highlighted the positive and negative impacts of changes which should be
monitored by managers.
 Eight steps assist in reaching target goals and objectives that will get by applied changes
in an enterprise.
4.3 Monitor improvement in the performance on the operation of the business
It is required for the organization is to supervise and monitor all task and performance of
employees in effective manner (Goss, 2015). The balance scorecard is helpful in improving
strategies and policies which provide clear picture of present and future performance level. The
internal and external communication factors help in enhancing fir growth and success in better
manner. It is the important method which assists in offering basic strategies and planning of an
organization. Balance score card will be prepared in the following ways:
 Financial Stewardship- In this business will be examined by allowing for six month and
adopt various plans and policies.

 Customer fulfillment- It is necessary for the firm is to satisfy their buyers and also fulfill
their needs and wants in effective manner.
 Intrinsic business procedures- The main motive of the company is to enhancing the
efficiency (Altman, Sabato and Wilson, 2010). They should also provide training and
development sessions to their employees that will increase their skills and abilities.
 Aptitude of organization- the ability and capacity of the firm is to make creative and
innovative products and services.
 Performance measures and targets- The most effective method is Performance
Appraisal which will provide clear picture of each workers performance during
productivity.
CONCLUSION
As per the above report it can be concluded that Small business enterprises are
helpful in supporting economic system of United Kingdom. They are major players who
enhancing growth, open new market and create large employment opportunities. The firm will
try to satisfy their consumers by providing various types of products and services that fulfill their
needs and demands in effective manner. Firm are try to encourage their workers for doing best
performance and achieve target goals and objectives. Cocofina required to research whole market
area and their competitors strategies which help in implementing their plans and actions in
appropriate manner. They also take reviews and feedback of their customers according to their
demand and wants they required to change in the products and services.

REFERENCES
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Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave
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