Analysis of Duncan Private Ltd. for Business Development

This report provides a comprehensive analysis of Duncan Private Ltd., a small business enterprise offering financial services. It begins by identifying the company's strengths and weaknesses, assessing its performance using comparative measures. The report then recommends strategies to overcome weaknesses, maintain and strengthen current performance, and expand the business. It includes recommendations for communication plans, staff encouragement, and employee engagement to address identified issues. Furthermore, the report evaluates existing business opportunities and plans, revising them to incorporate appropriate changes and developing an action plan for implementation. Finally, it assesses the impact of proposed changes on the business and its personnel, planning change management and monitoring improvements in business performance. The report covers various aspects of business development, offering a detailed overview of Duncan Private Ltd.'s operations and future strategies.

SMALL BUSINESS
ENTERPRICES

Table of Contents
INTRODUCTION................................................................................................................................3
TASK 1.................................................................................................................................................3
1.1 Identification of the strengths and weakness of the selected small firm...............................3
1.2 Business assessment using comparative measures...............................................................4
TASK 2.................................................................................................................................................5
2.1 Recommendation with the justification to overcome the weaknesses..................................5
2.2 Methods of maintaining and strengthening current performance.........................................5
2.3 Recommendations of expanding businesses.........................................................................6
TASK 3.................................................................................................................................................7
3.1 Assessment of existing business opportunities and plans.....................................................7
3.2 Revise business plans to incorporate appropriate changes...................................................8
3.3 Prepare an action plan to implement the changes.................................................................8
TASK 4.................................................................................................................................................9
4.1 Report on impact of the proposed changes on the business and its personnel......................9
4.2 Planning of change management at the business level.........................................................9
4.3 Monitoring improvements in the business performance in given time period....................10
CONCLUSION..................................................................................................................................10
REFRENCES......................................................................................................................................11
Online.................................................................................................................................................11

INTRODUCTION
Small business enterprises are those enterprises which involves large no of associates of
small commercial enterprises in conveyance and connected to supply chain management services.
These enterprises are related with the projects like aviation, main road and transportation system,
dry cleaners, eating place, judiciary enterprises and bake-shop. The present assignment report is
based on Duncan Private Limited which is engaged in providing financial services to their clients
which includes businesses, individuals etc. It also offers trust and estate planning, financial
planning, investment management and international services. It has attained 250 employees which
contributes their maximum efforts in increasing scale of operations to a large level (Philip, 2010).
The project discusses the strengths and weaknesses of Duncan Private Ltd., business plans to
incorporate appropriate changes along with an appropriate action plans, Methods of maintaining
and strengthening current performance etc.
TASK 1
1.1 Identification of the strengths and weakness of the selected small firm
Small business enterprise: It is such kind of business that employs a small number of
workers and doesnot have a high volume of sales. It is generally privately owned, sole
proprietorship, corporations or partnerships. Its legal definition can varies by industry and country.
According to UK goverment, Small business enterprise should not have more than 250 employees
and an annual turnover not exceeding 6.5 million for acounting purpose. On the other hand, for the
purpose of research and development tax relief, SME should not have mpre than 500 employees and
annual turnoiver not exceeding 100 million pound.
Duncan Private Ltd. is the privately owned small sized company with less volume of sales
generation. Their are some weak and strong points associated with these type of firms. Following
are the below strengths and weaknesses (Storey, 2016).
Strengths
 basically they are focusing on the consumers or more consumer targeted. In order to foster
development and attain maximum amount of profits their foremost considerations are
towards the customers.
 they have greater responsibility towards the requirement of the market.
 Their visualization aspect is towards the higher administration.
 They use advance and innovative technology as well as concepts for the growth and
development.

 They possess less no of government officials.
 The working culture is an informal type
 speedy to holding chances for the the benefit's
 they are very flexible their working conditions and environment.
Weaknesses
 their financial access is very weak or low due to less no of employees involvement and sales
production
 resource constraints
 they do not posses any high degree of professionalism in the faculty group
 they do not posses any skill-sets
 employment security is very less
 they posses least planning and thought process
 they have less degree of standardization
these are the above strong and weak points with respect to the company FSB
1.2 Business assessment using comparative measures
According to the estimates of FSB, it is determined that the selective payment method is
different from last method. The method of developing new business ideology is dealing with the
new innovative concepts and finding and it is important for researchers to develop their new ideas
and innovative services for advancement of research and upbringing new ideas which can be helpful
in diversifying new business opportunities (Storey, 2016).
By innovative products and services, it can be dignified and by new technology
advancement including new methods of training and placements. There are other issues related with
security and authenticity of the project related with authorization and security issues related with the
working conditions of the employees and and whether a project authorized legally. it can diversify
the employment opportunities, which is the vital important source in economy. It can done by
organizing various types of research programmes to acre people about findings and to enhance their
growth and development. Awareness of people about research is as important as employment
because by this method they come to about the project ,about the company , its aims objectives
missions findings benefits and harms . The research should be done in an appropriate manner by
discussing its good and bad affects, its profit and loss and its future expectations accordingly. There
are different money management programmes which can be adopted to save cost of production of
goods and services. If the minimum time period for the completion of the project is one year so

steps should be adopted in order to complete the project in less than 12 months to reduce the burden
and make out some extra time for planning a new project. There are some social, economic,
demographic conditions associated with the organizational and the environment . These are the
above assessments using comparative measures.
TASK 2
2.1 Recommendation with the justification to overcome the weaknesses.
There are different types of methods which can be adopted by the management of Duncan
Private Ltd. in order to overcome the weak points. These are as follows
Communication plans :- The members of the company develop some interaction plans in
order to implement the strategy. They adopted best possible ways of communication networks in
order to innovate and develop. They adopted different methods of communication within the
organization for better working of the organization system (Buelens, 2011).
Encouraging staff members :- leaders and managers encourage staff members by
motivating them to work in difficult situations. By appreciating them for their outstanding
performance in order to encourage for better working in existing and future time period for the
achievement of goals and ambitions.
Monitoring :- They monitored the risk taking situations in order to implement the new and
existing strategies.
Engagement of employees- the staff can be increase by envisages more no of works in the
company and thus increasing the faculty.
Financial assistance- the finance of the company can be improved by engagement of more
no of banks and broaden out the employment opportunities. These are the above methods
suggestions to overcome the weaknesses and foster the development.
2.2 Methods of maintaining and strengthening current performance
In order to maintain performance in the company it is important to integrate, revise its
methods by doing its research studies:
Motivational methods - It identifies its strengths and weaknesses accordingly. By self
independence, professionalisation and eduction researches can be motivated. There are many
quality management programmes that can be helpful in performance stimulation (Escobari, 2010) .
Accountability - can be increased by verification and audit mechanism . There are some
methods which can be adopted for verification process for example ARISTA 3.0 can be used as a
voluntary standards for guidelines and rules, transparency, accuracy and reliability of a project and

it is helpful in research operations, findings , case studies and others. The basic important aim is to
produce best quality product guarantee for clients and professionalism.
Corporate social responsibility - To become competitive in educational an CSR institutes.
To give full participation in research building operations and international projects for best standing
outcome to lead professionals. There are some programmes like global social leading programmes ,
CSR organizational tanning, societal investment programmes and entrepreneurship can be adopted
to revitalize and uprising of business success. It also prepares some publications in proficient
magazines and mass media . By creating conferences, induction programmes, seminal, welfare
programmes researchers will provide help.
Engagement of customers -In order to increase the client in the company its important to
come up with the expectations of employees and produce new products and services. To make new
ideas and implementation strategies in development of project. To vast challenges in competitive
competitive global market and sustain it in the best possible ways and findings . By distinct and
sharing knowledge process there is easy to achieve success , generating income sources , removing
quality problems to diversify challenges.
Monitoring and controlling – it is another important method in accessing projects,
basically monitoring is the method of project execution in which difficulties can recognized or
detect in limited time frame and with proper accuracy, the monitoring is done through corrective
actions and visionary methods by detecting and analysing the the different situations. There are
group of activities associated with project monitoring and execution like implementation , in this
the idea should be extend further and its a traditional to modern approach in project development
programme, accuracy deals with the corrective actions taken in project like whatever mistakes
committed it can be corrected through monitoring. Controlling is done by overall situations in
initiation of project handing and measurable outcomes in the projects. These are the different
methods of in order to access the performance in business environment to implement new ideas
and the help of different resources and outcomes to achieve the success in business and diversify its
challenges as well.
2.3 Recommendations of expanding businesses
In order to diversify the various opportunities in the business. It is important to implement
new methods, practices, advance technology and adoption of strong governing methods for the
development of Duncan Private Ltd. (Akingbade, 2010).
Advertising – it is the best method of informing individuals and by this many people come
to know about the projects by add posting, pamphlets, and by media also give full publicity about

the project as well. By these methods the business conditions and environment can improved and
diversify the business and compete the challenges as well.
Scope – it determines the affectivity and durability of the project and future expectations
associated with the projects. The scope of the project is a clear and specific arrangement of the
development of projects. It visualize the complete portray of the project for future expectations and
future benefits . It decides the advantages and disadvantages of the projects. By scope of the project
it a can be easily determine the number of employees working in the undertaking. Scope
determines the success of the project and calculate the competition strategy to the surroundings of
an administration.
Resources – They are the essential and fundamental part of the project. It consists of
different types of resources including man-made resources, logistics, capital resources,
accommodation , by the help of these types of substantial resources project can be made and
completed. There are some resource utilization techniques for the effectiveness of the Duncan
Private Ltd.
Financial aid- Proper financing is a basic important part of driving a company. This is
factor which from which the company is depend according to the existing and future prospectus. the
finance of the company can be improved by engagement of more no of banks and broaden out the
employment opportunities ( Ledger, 2012).
Cost - This includes manpower cost ,labour cost and overall turn over of the project. It
consists of total costs required in man, machinery, material and production. In this session of the
project the cost of employees working in the organization , goods and services cost, machinery cost
and most importantly sharing cost and profit maximization costs. It should be maintained according
to the different sections of the company. These are above methods of diversifying the business.
TASK 3
3.1 Assessment of existing business opportunities and plans
There are some opportunities and plans which can be achieved be Duncan Private Ltd.
through following ways:
Accountability Basically it's a responsibility to give message to modify users in order to
form advised judgements related with the performance, financial position, funding and investing
and agreement of written record.
Financial position - is an economic situation of a reporting firm regarding the dominance
over resources, commercial enterprise financial composition and capability for adjustment and
solving methods.

Investment and financing- it includes all the activities related to the firm in order to
operate financial and investment resources.
Trade loans are provided and applicable to all the small scale enterprises
Objectives associated with the Duncan Private Ltd.
 They were launched as national restricted establishments in the corporate sector.
 The are promoted by the respective persons, business firm, material possession or at the
societal level.
 They help in providing aid in financial services to the local public
 they also engaged in providing various types of employment opportunities related with the
FSB company.
 They have established various branches and networking links across the nation.
These are the above existing business plans and opportunities (Ledger, 2012).
3.2 Revise business plans to incorporate appropriate changes
According to the management of Duncan Private Ltd. smart targets are very helpful to
incorporate appropriate changes. They are explained as follows :-
Specific - Specific means some specific rules and regulations should be adopted in the
organizations which can be followed according to norms and policies of the company.
Measurable :- measurable ideas and methods should be measured with respect to quantity
and quality.
Achievement oriented - It means the employees should be given advice in order to
developing and achievement of goals and accordingly motivation, appreciation and encouragement
should be provided.
Result - Result aims at achieving success in the organization in a best possible ways.
Time bound - it aims at achieving the targets in the organization and the overall members of
the organization should be target oriented.
These are the methods of SMART goals for the development and achievement of strategic
implementation in the company and adoption of various changes in an organization.
3.3 Prepare an action plan to implement the changes
Resource is an profitable and bearing factor obligatory to accomplish the wealth. Basically
resource include money, labour and real estate.
Land - land includes place, property , real estate, building, house. These amenities are very
important to set a business (Ertürk, 2010).

Labour - labour includes workers, employees who are engaged in making or building a
resource. They are the foundation stone of any type of resources.
finance - money is the requirement to make an organization successful. There is a huge
requirement of capital in order to run the company
These are the sources requirement in order to do implementations according to the plan of
action
TASK 4
4.1 Report on impact of the proposed changes on the business and its personnel
There is an effects of the proposed changes on the business and its personnel:
Market entry- It basically deals with creation ad delivery of goods and services in order
complete the demand and supply process. It is the processed concept of delivering goods and
services to the new targets market and supply them. It includes exports and imports services which
means marketing business carrying with respect to foreign countries. Marketing is done through
outsourcing, retailers, franchising , joint ventures , turnkey projects and licensing etc.
According to FSB estimates, there are certain risk that are subjected during the entry of new
market and starting the small scale enterprises. These risk are systematic risk, sovereign risk,
cultural risk and weather risk. Weather risk is prevailing when new business starts. Systematic risk
is occurring within the frame of whole market or whole market segment. market entry include
production at home and production at abroad (Fernández‐Ortiz, 2010) . Production at home includes
indirect and direct exporting by export merchant, foreign customer, agent, distributor and
representative. Production abroad includes production with direct investment and without direct
investment. Without direct investment production includes administrative contract, franchising,
licensing or official document and contract commercial enterprise. With direct investment
production includes acquisition of a foreign company, new company set up and joint ventures
equity or venture capital investment.
Substantive growth :- Growth plays a vital role in order to run a business. Basically
substantive growth is the competitive growth, exponential growth, wealth creation growth and
prioritising growth. Substantial growth visualize the business strategy in order to wider spectrum of
societal perspective.
Retrenchment :- Basically retrenchment is the minimization of costs due to difficulties in
economy. It is done by cut down the costs and employees in order to overcome the difficulties in the
company.
These are the proposed changes on the business and its personnel

4.2 Planning of change management at the business level
As change is the only thing which is constant in the life. There should be an adoption of
appropriate changing methods for the development of the business by the following methods
Changing in strategic implementation- There should be a change in governing the various
types of strategies as FSB company is considered. The changes are carried out by means of cost,
resources, material, labour and machines (Adeyemi, 2011).
Technology advancements- there should be an adoption of advance methods of technology
according to the new invention in order to engaging more no of employees.
Employees engagement- these should be an engagement of more no of workers in the
organization to diversify the business opportunity.
Time management – time management is a most important concept of changing
management. It should be managed according to the work of the various levels of the employees.
These are the methods planning change management at the business level.
4.3 Monitoring improvements in the business performance in given time period
Monitoring and controlling – it is another important method in accessing projects ,
basically monitoring is the method of project execution in which difficulties can recognized or
detect in limited time frame and with proper accuracy, the monitoring is done through corrective
actions and visionary methods by detecting and analysing the the different situations. There are
group of activities associated with project monitoring and execution like implementation , in this
the idea should be extend further and its a traditional to modern approach in project development
programme, accuracy deals with the corrective actions taken in project like whatever mistakes
committed it can be corrected through monitoring . Controlling is done by overall situations in
initiation of project handing and measurable outcomes in the projects. If the minimum time period
for the completion of the project is one year so steps should be adopted in order to complete the
project in less than 12 months to reduce the burden and make out some extra time for planning a
new project. These are the above methods of monitoring improvements in the business performance
in provided time frames (Wilson, 2010).
CONCLUSION
From the above discussion it can be concluded that small business enterprises are those
business firms which are not generating any large volume of sales. Basically they are related with
small financial institutions, grocery shops, barber shops. Their basic requirement is make profits to

the self needs. If the minimum time period for the completion of the project is one year so steps
should be adopted in order to complete the project in less than 12 months to reduce the burden and
make out some extra time for planning a new project. Around 90 percent of the UK economy is
depend on the small scale enterprises. These are the above estimations about the FSB.

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Differentiating entrepreneurs from small business owners . 2017 . [ Online ] . Available through :
<http://amr.aom.org/content/9/2/354.short> .