Small Business Enterprise: Performance Analysis & Actionable Plan

This report provides a comprehensive analysis of a small business enterprise, focusing on its performance, strengths, and weaknesses. It begins by profiling the business and examining key components such as product, market, money, and people, emphasizing the importance of SWOT analysis. The report then analyzes small business measures using comparative performance indicators like workload, output, and efficiency, highlighting their significance in enhancing overall productivity. It identifies appropriate actions to overcome weaknesses, including addressing start-up issues and promoting accountability. Furthermore, the report explores measures to maintain and strengthen existing performance, such as consistent cash flow monitoring and goal setting. A detailed business plan is presented to incorporate appropriate changes, including strategies for change management, industry moves, and adapting to market trends and customer needs. Finally, the report includes an action plan for implementing changes within the organization, addressing the impact on personnel and the business, and outlining methods to manage and minimize negative impacts. This analysis aims to provide a strategic roadmap for improving the small business enterprise.

Small Business Enterprise

Table of Contents
TASK-1............................................................................................................................................3
EXAMINATION.............................................................................................................................3
1. Profile of Small Business along with strength and weakness.................................................3
2. Analysis of small-business measures with use of comparative measures of performance.....3
3. Appropriate actions for overcome from the identified weaknesses in business.....................4
4. Identify and explain the measures in which existing performance is maintained and
strengthened by small-business...................................................................................................4
TASK-2............................................................................................................................................5
REPORT..........................................................................................................................................5
1. Business plan to incorporate the appropriate changes. ..........................................................5
A.) Describe and identify the business plan for the selected business........................................5
B,) Suggest changes for current business plan............................................................................7
2. Action plan for implement changes among organisation........................................................8
3. Impact of proposed changes on the personnel and business.................................................10
B.) Discuss the methods to minimise the negative impact of proposed changes......................11
4. Plan how changes are managed among the business............................................................11
A.) Methods to manage proposed changes...............................................................................11
B.) Methods raised during implementation of proposed changes.............................................12
CONCLUSION ............................................................................................................................12
REFERENCES..............................................................................................................................14

TASK-1
EXAMINATION
1. Profile of Small Business along with strength and weakness
A) Identify and explain of various components of small-business?
Solution- For the small-business there are few and basic, but crucial factors and components
exists in market and all of them perform an important role for maximise the size of an
organisation. Some effective components with it's strength are PRODUCT, MARKET, MONEY
and PEOPLE. In context of offshore yard, this factors aids the business to deliver effective
services by formulating their brand different from others.
B) Importance of SWOT analysis for small-business?
Solution- SWOW model is simple and most effective framework as this aids an organisation to
stand and build those factors in which they are expert. Identify the weak factor for minimise
company related risk. Also, to accomplish those opportunities which provide advantages to
business for achieve high success in market (Bridge and O'Neill, 2017). Strength, weakness,
opportunities and threats are the most important factors of an organisation that leads to decide
and formulate policy according to decided areas especially, by understand of company
framework.
2. Analysis of small-business measures with use of comparative measures of performance
A) Identify the various comparative measures of performance?
Solution- Comparative performance management is a constant actions of steps which maximise
the efficiency of management operations, budgeting and policymaking of respective
organisation. Workload and output measure indicates amount of work which is performed
according to the number of services that are done along with methods how well they are
managed. Efficiency measure demonstrate relationship among the work performed and also with
all those resources which is required for perform the work in an organised manner specially, to
complete project with estimated unit cost (Smith, 2016).
B) Importance of various comparative measures of performance?
Solution- All comparative measures perform an important role because it enhance overall
productivity of the organisation. One of the most effective method is to complete work according
to decided cost, resources and methods. This results management is able for generate appropriate

results from their projects by satisfying needs of all individuals and to accomplish this they
measure all comparative performance. The workload and output measure perform an important
role for measure overall area of business. With similar approach efficiency measure leads
towards analyse the work methods of all departments.
3. Appropriate actions for overcome from the identified weaknesses in business
A.) Identify of various measures to overcome from small-business weakness
Solution- One of the most effective method to overcome from weaknesses of small-business is to
identify common start-up issue that generate problems for start of project. Similarly,
accountability is another effective measure and this aids to appreciate the idea through agree
with all individuals that are engaged in company roles (Järvi, 2015). Performance make results
with analysis of different fundamentals related with business. Also, the positive and flexible
factors determines all the financial systems to achieve better success in market. Small
B.) Importance of identified measures to overcome from small-business weakness
Solution- Basically, there are two measures identified by management and this considered
towards the completion of all task according to selected business approaches. Identification of
start-up issue is essential because this helps for minimise problems in initial level of project. On
the other side, accountability also perform an important role because this minimise the
irresponsible behaviour of persons for complete their task. In simple terms, it refers that when an
individual face problems than the management focus on them because due to accountability
factors it is easy to identify who is responsible for the non-accomplishment of goal.
4. Identify and explain the measures in which existing performance is maintained and
strengthened by small-business
A.) Identify various measures for improve and maintain the existing business performance?
Solution- Organisation or business perform the roles to sustain in market for longer period with
motive of improving their profits (Cunningham, Sinclair and Schulte, 2014). Similarly,
consistent improvements to enhance the small business performance relates to monitor the cash
flow in a consistent manner. Thus, keep monitor financial score performing task with decided
approaches and it enhance the gain of business. Set Goals works as an important part for the
success of business further, to achieve them planning tools perform aids to move forward in
competitive market. Small-business also work towards the increase of web traffic in order to
increase the sales of products by approaching individuals of a large market area.

B.) Advantages and Disadvantages of small-business
Solution- Performance of an organisation is essential to make constant results and according to
the current scenario, this is understand one of the major advantage related with each organisation
is to improve and maintain existing profits through utilise methods which monitor company
performance (Romano and Da Silva, 2015). It work as an advantage for company because it
helps to review the finance related action. Disadvantage of financial performance is that this is
complex for monitor all financial factors.
The advantage of setting goals helps in improvement of methods those leads organisation for
accomplish or achieve the decided objectives in minimum time-period. Disadvantage of setting
goals is that this is a time-consuming process because it is important that both short and long
terms goals relates with each other.
TASK-2
REPORT
1. Business plan to incorporate the appropriate changes.
A.) Describe and identify the business plan for the selected business
Business plan is explained as the written document which explain organisational future
and in simple terms, this represent all those factors that aids business for achieve their goals and
objectives. Moreover, business plan engage all activities and task for providing the guidance to
the workforce and authorities of Offshore Yachts.
The foundation of Offshore Yachts was established at the time of world war second
because at this time there is shortage of steel due to which this is difficult to complete military
action (Ratten, 2014). Therefore, Offshore Yatch look for comfort, convenience, safety and
performance. This also relates with authorities of masterful factors which directly improve the
design and current line of cruiser.
VISION
 The vision of organisation is to become choice of individuals and travel organisation to
become priority for marine and logistics services.
MISSION
The mission of organisation is to perform work beyond expectations of customers for
offer high value in company services.

Business Description
With speaking about an offshore boat this is generally larger than two and along with this
this is used to maintain the bow related with business (Ismail and Main, 2021). Along with this
there is a high shortage of the rooms that relates with storage and convenience features of the
report. With addition to the more boat space this is identified that the yatch allow more number
of individuals or passengers to travel form one place to another. Furthermore, protection features
are also better from large waves which are found in the open ocean.
Products and Services
In the present scenario, products or services perform an important role to sustain in the market.
This defines that betters services are provided by management of the offshroe yatch in order to
maximise their customer loyalty. Furthermore, organisation provide smooth ride to access the
shallow water in the choppy waters.
Market
The current market share of organisation relates with all those factors that enhance market size
and cover approximately 50% of the market through offering their services in different areas of
world. Along with this business size is increasing with rapid speed and it determines that world
largest factors consider towards the larger market area. Furthermore, competition from boats and
large ships generate challenges for Offshare Yatch to retain in market for longer period. On the
other side, business size is increasing with rapid speed for sustain better market position in the
current area.
Business operations
In the present scenario, there are various factors relates with market conditions and for
this management aids to engage all those areas through which business owner easily engage the
individuals to conduct all operations and functions in a systematic manner. The main operations
performed by management relates with the current market conditions is to offer appropriate
logistics services because due to pandemic conditions travel are banned among all geographical
areas (Slocombe, 2017). In context of marketing organisation deals with those conditions that are
used to organise all work according to the current market conditions. Example- Offshore yatch
utilise both print and digital media for promote of business. In context of finance capital is raised
through bank loan and public source of funds.
SWOT Analysis

Strength
 Offshore yatch perform functions in
large market area so wide coverage is
considered as an advantage of market.
 The current market define about all
those factors through which
management relates with development
factors.
Weakness
 Shipbuilding industry consider towards
the global challenges that creates
problems to manage work properly.
 The overcapacity and accelerated
mergers generate challenge because it
make change in policy.
Opportunities
 High techniques encompasses the ships
related with new enforcement factors
that relates all persons as per global
approach.
 Shipping industry is growing so this
also work as an important feature to
identify new areas for diversify the
business.
Threats
 Low-wage, low-technology, etc. are
major challenging part and this
generate problems for organisation to
manage work properly.
 The industry engage business which
perform work in monopoly market so it
works as a major threat for business to
retain.
B,) Suggest changes for current business plan
Areas which need changes- Change
perform an important role to retain in the market for longer period. In the present scenario,
operations and finance department require knowledge to manage business with decided steps so
changes are require within lower level of Offshore management.
Change management- The term change management is identified as a systematic approach for
deal with the transformation and transition of an organisational goals related with the process of
business (Jones, 2018). In simple terms, change management is a method for implement
appropriate strategy to induce change, manage change and to help individuals in adoption of
change.
Industry Moves- Offshore and marine engineering involves both factors as it include both
design, construction and installation of individual facilities for engage in marine environment.

Along with this the current moves promotes towards cross-discipline and improve public images
through engage personal and meaningful experience of customers.
Market trends- The existing market trend of organisation is to include all those factors that are
specific in nature in order to navigate near shore areas and also to got with inland waterways
like, rivers and lakes for promote the business. Furthermore, current size is improved by design
the yatch which is creative to attract individuals and also effective for travelling in far areas.
Customer needs and wants- The needs of individuals or customers perform an important role
and in context of Yatch comfortable area, engage of food and drink facility. This two are major
requirements related with business (Iakymenko and et, al., 2020).
2. Action plan for implement changes among organisation
ACTION PLAN- All business formulates the action plan in order to regulate business
changes and this is used for ensure the objectives and goals of the business in the decided time-
period. Action plan seems control measures that helps to evaluate performance of organisation
and match their outcomes with decided standards. The action plan perform an important role and
this is used to engage the business activities with decided approach. In context of threat major
problems related with organisation is to understand all those areas that generate problems for
deliver right services. Management define the areas which help business to improve productivity
is operational and financial department.
Strength of action plan is to develop appropriate policy related with business. The current
market conditions define that the decided management perspectives and policy is a major
strength of business. Weakness related with action plan of business is that they are time-
consuming. Opportunities are achieved by action plan through introduce sustainable strategy
specifically, with those areas that are good in market (Hasan, 2021). Threats related with action
plan is to understand and ensure management perspectives.
Importance and benefits of creating an action plan
Project perform an important role for accomplish of the organisational goals and
objectives. The most important step of action plan is to engage all those individuals which helps
organisation to achieve the goals and objectives in a transparent manner as action plan declare
important step for finish project in a proper manner. In context of benefits this bring all persons
together to complete work with decided approaches.
Identify the most important areas which need changes within the business.

Changes require constant efforts to manage task according to current market, within
context of company performance management engage all those factors so the changes relates
with organisational operations and functions. Furthermore, action plan in context of business are
mention as follow:
Aims Actions Target Benefits Material
resources
Time scale Milestone
s
Monitorin
g strategy
To
improve
workforce
capability
Training
and
developme
nt classes
are
organised
to perform
work in an
organised
manner.
This is
important
to manage
work as
target of
company
is to
improve
company
performan
ce.
It aids to
enhance
the
performan
ce level of
organisati
on.
Material
required
by
organisati
on is
profession
al training,
manager
guidelines
and good
quality
resources.
Estimated
time
period is
three
month.
Departme
nt of
Human-
resource is
responsibl
e to
achieve
milestone
of
improving
all
workforce
performan
ce.
To analyse
the
performan
ce level of
employees
.
Fulfil of
social
needs
Eco-
friendly
factors and
increase in
business
are major
tools.
Essential
for
business
improvem
ent and
specific
targets are
customers.
Engage
effective
social
responsibil
ities
factors.
To
identify
social
problems.
Estimated
time is
two
months.
Manager
and top
authorities
are
responsibl
e to
increase
customer
base.
KPI is
used to
manage
the
strategy.

With the analyses of above table this is identified that employees are the key for improve
overall productivity through improve their overall productivity (Lin and et, al., 2019). Along
with this current needs aids towards fulfil of social needs by manage work according to decided
level. Furthermore, time-period helps management to achieve all goals and objectives as per
business level.
3. Impact of proposed changes on the personnel and business
In the present scenario, there are various task performed by management and most of
them face dynamic perspectives. So changes is important to adopt but this directly impacts on the
business activities. This also generate both positive and negative factors as this is useful for gain
competitive-edge in market. In perspective of Offshore yatch most sections are interrelated with
each other so impact of change on business is that good financial plans aids them to earn more
revenue by performing work with decided budget (Parappurathu and et, al.,, 2020). On the other
side, impact on personnel is that this create difficulties because completion of work by engage of
new strategy is a major problem for workforce to learn in frequent manner.
Impact of changes to the organisation
Positive Impact Negative Impact
 With effective business plan all goals
and objectives are achieved according
to the decided approach and budget.
 Recruitment needs is used for perform
all work with engage of skilled
workforce.
 Additional perspectives aids to increase
overall productivity by formulate
routine steps for organisation.
 This is complex to follow right and
effective plans for business.
 Due to changes this is most difficult for
management to retain the workforce
with new systems.
 Sometimes constant changes create
difficulties to improve their daily
services.
Impact of changes to the employees
Positive Impact Negative Impact
 Workforce is required to perform the  The negative aspect on employees is

task according to decided methods of
working and strategy.
 Changes attract the workforce for visit
place with decided approach to increase
business size.
 Training program is organised for staff-
members to engage them in the new
operations.
that they face difficulties to manage
work properly.
 Due to change in strategy workforce
face problems for learn new strategy.
 Sometimes workforce not attend the
sessions and this will results that they
face complexity to manage work in
proper manner.
B.) Discuss the methods to minimise the negative impact of proposed changes
Various structural changes are managed by small-business when they focused towards
the increase in size of business. In order to minimise negative challenges there are new methods
such as to monitor capital structural changes, track management and operations work, etc. both
are induced for perform work according to the decided work methods and changes.
To overcome from negative impact of organisation changes
 To monitor structure changes- The asset of organisation is divided into various sections
and division (Holt, 2021). While, at the time of change capital is required at large level so
with capital structure changes this is easy to improve.
 Management and operations- Regular monitoring is required by management for perform
all task in a decided approach. So with functional department this is important to
understand the changes in operations and management policy for business.
To overcome from negative impact of employees
 Technical and advancement changes- Both of this relates with technical factors of
business and according to present market conditions it is identified that to minimise the
problems management utilise all factors for complete work by engage of the skilled
workforce. This helps for learn new strategies and in context of uncompleted sessions
Offshore Yatch make schedule to deliver all work properly.
4. Plan how changes are managed among the business
A.) Methods to manage proposed changes
Resistance to change- The term resistance to change is explained as an opposition of altered
circumstances or alternations which are related with status of individuals. In context of

respective organisation workforce or employees face problems while make appropriate decisions
related with current market scenario as they focus on manage modern task with previous customs
and methods (Burningham, 2019).
Methods to overcome resistance to change
 Identification of effective communication- It is one of the most common method to
reduce resistance of change because communication work as an effective way to educate
individual that helps to promote awareness for adoption of change. Offshore yatch induce
large changes with this method.
 Support and facilitation- Numerous reason exists which create problems for workforce to
not adopt the changes. In order to overcome from them selected organisation consider
that both emotional support and resources are exists within area for complete task with
decided approach.
 Co-optation and manipulation- With this technique organisation get the constant support
that helps for manage change by attempting all areas that is used for appeal right
approaches related with workforce methods. Moreover, this method motivate workforce
to accept changes in manipulative manner.
In the context of Maldives Shipbuilding organisation this is understand that both the authorities
and workforce face problems to manage work with decided approaches. Therefore, with engage
of right approaches this is identified that strategy make effective attempts for complete the work
according to decided connection (Royle and Brinklow, 2018). In relate of case this helps for
make right changes by motivating persons to increase productivity.
B.) Methods raised during implementation of proposed changes
Activities, project and organisation actions relates with management and it is used to
complete the work according to the number of teams. Moreover, managing multiple teams is the
first problem related with business and it provide all those factors that make challenges for make
changes in operating systems. Change management software solutions define multiple sites to
complete work as per those areas that leads to perform operations in a collaborative manner. In
the last, major problems face by management is to update appropriate documents in context of
manage task properly.