Business Analysis of Greenwoods: Strategies for Growth and Expansion

This report provides a comprehensive business analysis of Greenwoods, a UK-based small business enterprise specializing in menswear. It begins with an introduction to the company, followed by a SWOT analysis to identify its strengths, weaknesses, opportunities, and threats. The report also includes a PESTLE analysis to assess the external factors influencing the business. Recommendations are made to address weaknesses, maintain strengths, and explore new areas for expansion, such as increasing advertising, enhancing financial stability, and expanding the product range to include women's apparel. The report concludes with an assessment of existing business objectives, revisions to business plans, and the creation of an action plan to implement the proposed changes. Finally, it discusses the impact of these changes and plans for managing and monitoring improvements in business performance. This analysis aims to provide strategic insights for Greenwoods' growth and sustainability in the competitive UK market.

SMALL BUSINESS ENTERPRISE
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Table of Contents
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
LO1..................................................................................................................................................3
1.1 Profile of Greenwoods and its Strength and Weakness analysis...............................................3
1.2 Analysing the comparative measures of business.....................................................................4
LO2..................................................................................................................................................7
2.1 Recommending ways to overcome the weaknesses of the company........................................7
2.2 Analysing the ways by which the strengths may be maintained by the Greenwoods...............8
2.3 Recommending the newer areas where the business may be extended.....................................9
LO3................................................................................................................................................10
3.1 Assessment of the existing business objectives and plans of Greenwood...............................10
3.2 Revising the business plans to implement the appropriate changes for Greenwoods.............11
3.3 Preparing the action plan to implement the changes in the objectives and plans....................11
LO4................................................................................................................................................12
4.1 Reporting the impact of the changes in the business and personnel........................................12
4.2 Planning for the management of the changes in the business.................................................13
4.3 Monitoring the improvements in the performance of the business.........................................13
Conclusion.....................................................................................................................................14
References......................................................................................................................................15
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Introduction
In the modern context of the business environment, it has been seen that the different companies
have implemented the different strategies in order to have the competitive advantage over the
business processes in a particular area. The same applies to the different companies and the
organisations including the small business enterprises that have their small areas of function. In
this assignment, a different context of the small business enterprises with special reference to the
Greenwoods has been determined. The different parameters that are needed to be followed are
implemented by the company in order to have the comparative advantage in a particular area and
a particular time has been demonstrated. The focus has been laid on the ability of the company to
extend their business processes in the other diverse fields of the UK markets. Finally, the
different strategies and the methods that the company may adopt; in order to have the expansion
have been demonstrated in the later sections of the assignment.
Task 1
LO1
1.1 Profile of Greenwoods and its Strength and Weakness analysis
Greenwoods is one of the small business enterprises based in the UK that deals with the online as
well as offline selling of the menswear. It has its headquarters in Bradford in England and is said
to have provided the employment opportunity to more than hundred employees in the recent
years, after its establishment in 1860. Since its establishment, it has been solely responsible for
their business attributes and the quality of the products that have been supplied by them and
around 1998 it had established more than 200 branches in the UK. The Brexit elections have
severely affected the overall progress and the sustaining ability of the company. The overall
revenue has been estimated to have increased by about 13% in the recent years by establishing its
trajectories to over 70 stores in the UK. The major operating income of the company has been
estimated to be about £22000 in 2008 and since then has continued to experience growths in the
annual levels of their income (www.greenwoodsonline.com, 2017).
Analysing the strengths, weaknesses, opportunities, and threats for the company
StrengthsWeaknesses
● Continuous focus on the quality of the
products
● Lower levels of advertisements
● Lower infrastructure flexibility
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● Well decorated stores and websites
● Collaborative work culture in the
workplace
● Effective Research and Development
wing of the company
● Due to the lower financial status,
newer strategies are not effectively
implemented
● Services are not proper for the
customers
OpportunitiesThreats
● Smaller structure of the company
● Improved Research and Development
department
● Lack of innovations
● Lack of environmental campaigns
Table 1: SWOT Analysis of Greenwood
(Source: www.greenwoodssuithire.co.uk, 2017)
From the above analysis, it has been seen that the company continuously experience a number of
threads opportunities strength as well as weakness. Therefore the major strength for teens to the
official research and development may allow the company to have a different infrastructure for
the extensive research and development programs, for the products and services that are referred
to the company in the recent times. Another strength that is involved by the company includes
the collaborative working culture in the workplace. This allows the company to have the bilateral
views about the different cultures and the religious aspects of the employees. Further, it has been
seeing that the company continuously focuses on the quality of the product and services that are
being offered and therefore this involves the major strengths of the company (Mir and
Pinnington, 2014, p.212).
One of the major weaknesses of the company includes being minimum level of advertisements
that are being in force by the company and therefore, the promotion of the products and services
are not evenly distributed among the people within the company. Moreover, the financial status
hinders the company from implementing the newest strategies, being undertaken by the company
to have the financial advertisements for advancements in their business platforms.
1.2 Analysing the comparative measures of business
The overall status of the business organisations is companies are determined by the comparing
the different parameters of the company both qualitatively and quantitatively. These analyses are
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therefore referred to as the qualitative analysis and quantitative analysis. This may be eventually
established by the prior conductance of the PESTLE analysis.
PoliticalIt has been seen that the political environment of the UK is flexible and
therefore it may allow the different companies are the organisations to
establish its dominance in the business markets. However, minor political
disturbances include the differences in the territorial expansion that was
evident during the Brexit elections in the UK.
EconomicalThe economic factors play an important role in determining the overall
status of the business processes of the different companies or the
organisations. It has been evident that the Brexit elections have caused a
little economical recession in the UK. However, the economic recession
has been cleared off and the economy has been provided to be stable for
the different companies to establish their business dominance in the
markets of the UK (ZHANG et al. 2014, p.027).
Socio-culturalThe socio-cultural environment plays a dominant role for the companies
or organisations, especially the fashion and clothing organisations or
companies in order to establish their business dominance in a particular
area and at a particular time. It has been seen that the UK comprises of a
people of a variety of different religions cultures and socio-cultural
backgrounds. Therefore, it may allow the Greenwoods to establish their
business dominance in the markets of the UK as they may be able to
provide the garments is the clothing to the men that belongs to the
different cultural and social backgrounds.
TechnologicalThe technological factors provide the opportunity to the companies or the
organisations within the UK to increase their frequencies of
advertisements and promotional programs within the UK. In the recent
times, the UK has been seen to be dominated by the technological
advancements and therefore it may allow the Greenwoods to establish
their stable mode of business transactions and advertisements (Saka‐
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Helmhout et al. 2016, p.8).
LegalThe legal complications within the UK have been very minimal for the
companies or the organisations, especially for the companies that have
initiated their roots within the UK. Therefore, the legal environment may
provide a suitable position for the Greenwoods, in order to increase their
realms of business methods and practices and thereby increase the
dominance in the business markets within the UK.
EnvironmentalDue to the increase in the concern for the environment the different
companies or the organisations within the UK have implemented the
environmental protection campaigns and processes to a large extent.
Similarly, the brand loyalty may be gained by the companies that may
have the increased practices of environmental protection. Therefore, the
Greenwoods may adopt the environmental protection campaigns and the
programs, in order to increase their business dominance in the markets of
the UK within a short time (Kodeih and Greenwood, 2014, p.22).
Table 2: PESTLE Analysis
(Source: Kodeih and Greenwood, 2014, p.28)
Qualitative Analysis
The quantitative analysis refers to the statistics are the different data that have been received
about by the company over the recent years of their business and Management. From the
different data and the results, it has been seen that the company had found to be submerged with
the lack of innovation and financial shortage during 2008. It was recorded that about 11.3% of
the drop in the revenue was determined during this year and a large number of employees had to
be withdrawn by the company. Furthermore, it was seen that about 23.9% of the annual sales of
the company had diminished during this year (www.greenwoodssuithire.co.uk, 2017).
Quantitative Analysis
Quantitative analysis depicts the different types of feedbacks and the Complaints that have been
provided by the customers or the general people towards the companies. It has been seen that the
employees within the Greenwoods have been very satisfied over the recent years. For the
research have provided the fact that the employees have allowed their children to be employed
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within the company as a number of the benefits that are provided by the company are huge
(www.greenwoodssuithire.co.uk, 2017). It has been seen that the rate of the information flow
between the higher authorities and the lower level employees are satisfactory and therefore the
employee's providers wheel of the encouragement to work efficiently for the company
LO2
2.1 Recommending ways to overcome the weaknesses of the company
A number of recommendations may be made in the context of the Greenwoods so that the
weaknesses that have been provided in the earlier section of the company may be resolved
efficiently. The recommendations include the following:
High frequency of Advertisements
The increase in the frequency of the advertisements allows the company to have the spread of the
business processes and the products to a large number of customer bases within a very short
period of time. It has been seen that advertisements may be made through the implementation of
the celebrities over the internet or television. These advertisements may allow the company to
spread the information about the recent offers or the discounts that may be provided by the
company in a particular period of time. Moreover, the launching of a new product may be easily
spread among the people and the customers through the implementation of a stable mode of
advertisement programs.
Increasing Financial Stability
The increase in the financial stability may allow the company including the Greenwoods to adopt
a diverse range of Strategies for the management options within the infrastructure of the
company. It has been seen that due to the lack of the financial stability, the company is unable to
implement the new strategies or the programs for the expansion of their services and products.
Therefore, the increase in the financial stability may solve this problem, and as a result of it, the
company may be able to implement newer strategies; and newer tools and techniques may be
implemented within the workforce of the organisation or the company (Bresnen, 2016, p.332).
This may be adopted through the implementation of a number of procedures including the extra
discounts on the products, increase customer services, and a number of other processes.
Increasing the product range for Women
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It has been seen that the demands for the products of the women have surpassed the demand for
the product are the apparels for men. Therefore, it may be analysed that if the company
implements their infrastructure or the strategies for making the apparels available for women, a
vast increase in the frequency of the sales for the company may be experienced.
Increase manpower for the customer service sector
It has been seen that the customer services of the company have been considered to be lower
over the recent years, as compared to the customer services that are available for the other
dominant brands or the companies within the UK. Therefore, it may be analysed that the increase
in the customer services may allow the company to have a boost up in the brand loyalty, as
expressed by the customers or the consumers within the UK (Mitchell et al. 2015, p.868). It has
been seen that most of the customers are attracted towards a company or a product only if the
post-purchase services of the company are high. Therefore, in this aspect, if the company
implements stable customer services, the weakness may be significantly turned into strength for
the Greenwoods.
2.2 Analysing the ways by which the strengths may be maintained by the Greenwoods
Newer opportunities for the Research and Developments
It has been seen that the research and development programmes may allow the company
including the Greenwoods to establish the newer trends and services within the company.
Therefore, the different parameters may be established and developed within the company so that
the research and development wing of the company may be strengthened. This development in
the research and development may allow the company to develop newer patterns of the processes
for their business purposes and management. As a result of this development, the company may
be able to manifest the new processes into reality in the orientation that may allow the company
to have the competitive advantage in the real-time in the modern business markets of the UK.
Self-development graphs for the employees
It is important for the company or the organisation to increase the quality of the skills that are
executed by the employees in the company. It has been seen that the self-development graphs or
the learning curves, may allow the company to allow their employees to be dynamic in their
course of actions. Therefore, these self-development graphs may allow the company and the
employees within the company to analyse their skills and compare them with the skills that are
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needed by them, in order to allow the company to have the competitive advantage in the modern
markets of the UK (Arrigo, 2013, p.182).
Feedback system monitoring
It is not desirable for the company to maintain a perfect orientation in all the aspects of the
working environment or the services. Therefore, the feedback systems have been lately used by
the different companies including the Greenwoods in order to establish the simple and a flexible
working environment in the workplace. The Greenwoods may seriously take into account the
different feedbacks that are provided by the customers or the employees within the organisation.
The careful analysis of the feedback systems may allow the company to have the idea about their
weakness and strength. This idea about the weakness may allow them to efficiently improve the
area of their weakness and at the same time strengthen their strengths, so that they may
significantly have a competitive advantage in the business markets within the future years in the
UK.
2.3 Recommending the newer areas where the business may be extended
It is important for the company to manifest their extension programs into the different areas of
the business processes. This may be obedient on account of the competitive environment that
have been provided to the green food by the other companies. The Greenwoods may extend their
areas in the different sectors that described below.
Extension into the female sector
It has been seen that the Greenwoods continuous to provide the superior range of men's apparels
over 50 years of time. Consequently, the demand for the product that is evident in the company
is also higher. Therefore, the company may improvise the complementary strategies to extend
their products into the female sector of the apparels. It has been seen that the socio-cultural
environment of the UK is comprised of a number of people, belong to the different cultures and
religion. Therefore, if the area of service and products for the Greenwoods had extended to the
female sector as well, it may provide a number of opportunity for the increase in sales and profits
for the company.
Separate body for the customer service section
It has been seen that the customer service has been one of the drawbacks for the company in the
recent times. Therefore, the improvement in the customer service section may provide the
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benefits for the company to implement the processes of business; to provide the complete event
of competitive environment and advantage in the modern markets of the UK.
Higher ratio of promotions and advertisements
It has been seen that the company may implement the ways and the procedures so that the
advertisements for the company is increased. This may allow the company to extend their
business processes in the different areas of the country including the major cities like London
and Edinburgh.
LO3
3.1 Assessment of the existing business objectives and plans of Greenwood
Business Objectives
The business objectives of the Greenwoods are as follows:
● To provide the continuous improvement in the quality of the apparels that produced by
the company in the recent years.
● To implement newer techniques and tools for the evaluation of the processes and
management, that has been set forward by the company. It further implements the up-
gradation of the tools and techniques that have been used by the company in the recent
past.
● To provide a continuous and standard level of customer services to the people and the
customers that opts to engage their business processes with the green Woods.
● To implement the ways of business, so that they are directed towards the protection of the
environment. In this regard, the company may implement the packaging systems and the
lighting systems that are based on the environmental protection technologies; that may
allow them to have the increased customer loyalty and at the same time protect the
environment (www.greenwoodsonline.com, 2017).
Business Plans
● A number of business plans have been evident to be devised and implemented by the
company. It has been seen that one of the major business plans under the context of the
company is the provision of the complete set of dresses including the different designer
collections and the costly apparels that may be provided to the men for different
occasions.
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● Additional business plans in terms of epidemiology include the extension of their
business processes in the different areas of London and Lancashire. One of the major
plan highway in successful is the implementation of very less amount of advertising
programs (www.greenwoodsonline.com, 2017).
3.2 Revising the business plans to implement the appropriate changes for Greenwoods
SubjectTimeObjectives
Development of
superior quality
products and
extension of the
female apparel
sector
1 Year
The superior quality of products may allow the company
to develop the newer trends in their developments.
Likewise, the extension of the apparels for the women
sector may allow the company to have the additional trust
and sales for the company within a desired span of time.
Environmental
protection
campaigns
6 MonthsThis plan may allow the company to improvise the plans
for the environmental campaigns. It may allow them to
have the increased trust and the loyalty of the customers.
Advertisements
through Television
and the Internet
1 MonthThe advertisements provide the means by which the
company showcases its new and existing products and the
exclusive discounts and services to the customers of the
area.
Training of the
employees for their
enhanced skill
development
6 Months
Ther additional and specialised skills may allow the
employees of the company to have the ability to prepare
exclusive products that may allow the company to
compete with their rival companies in the UK.
Table 3: Business Plan
(Source: Learner)
3.3 Preparing the action plan to implement the changes in the objectives and plans
Objective: Extension of the apparel section for the Women
StepsEventsTime Frame
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Step 1Study the demands for the women’s apparel in the particular area2 months
Step 2Analyse the competitor policies that currently deals with the men
and the women apparels, in a particular area
2 months
Step 3Deciding the estimation for the preparation of the women’s
apparels
2 months
Step 4Decoration of the retail outlets and the websites before the launch
of the women's apparels
1 month
Step 5Providing introductory discounts for building a good relationship
with the customers
1 month
Table 4: Action Plan
(Source: Learner)
LO4
4.1 Reporting the impact of the changes in the business and personnel
Changes in the business
After the successful implementation of the plan, the business structure of the Greenwoods may
be changed accordingly. After the integration of the female apparel sector within the company, a
large number of business strategies may be implemented towards the selling of the apparels for
the females of the area (Arrigo, 2013, p.176). For that, the raw materials and the different modes
of research for the existing tastes of the females within a given area of the companies profile are
needed to be considered by the company and this may be implemented through the changes in
the business structure and the processes of the company.
Changes in the personnel
In this context, the personal may be referred to as the employees are the customers that are
related to the Greenwoods. It has been seen that if the plans of the increase in the salary and the
increase in the performances of the employees increase, the retention for the employees are
increased many folds. Moreover, the customers may be benefited on account of the increased
customer services plans by the company (Ramasesh and Browning, 2014, p.201). Moreover, the
availability of the female apparels may be advantageous for the women of the particular area to
have the marketing of the complete family in the Greenwoods outlets.
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