BMSW4006: Managing Enterprise in the 21st Century Report

This report provides a comprehensive analysis of managing a business enterprise in the 21st century, using Growing Stars Nursery as a case study. It begins with an overview of the company, a childcare provider in Harrow, United Kingdom, and then delves into critical aspects of business development. The report outlines a detailed marketing strategy, including product, price, place, and promotion, and emphasizes the importance of adapting to the competitive landscape. It also examines operational procedures, including mission, vision, objectives, and financial planning, highlighting the significance of financial estimates and technological advancements. Furthermore, the report explores the technological plan, emphasizing its vision, mission, and objectives, as well as the importance of system requirements and financial considerations. The report concludes that successful enterprise management in the 21st century requires strategic planning, market analysis, and the effective use of resources and technology to achieve business goals.

Managing Enterprise in
the 21st Century

Table of Contents
INTRODUCTION ...............................................................................................................................3
MAIN BODY .....................................................................................................................................3
Overview of a nursing company (Growing Stars Nursery) ............................................................3
Marketing strategy ..........................................................................................................................3
Operations .......................................................................................................................................4
Financial plan ..................................................................................................................................5
Technological plan ..........................................................................................................................6
CONCLUSION ...................................................................................................................................8
REFERENCES ....................................................................................................................................9
Books & Journal: ............................................................................................................................9

INTRODUCTION
In this contemporary business environment, business expansion is an important task which
is needed to be carried out in proper manner so that goals are accomplished. The level of
competition in education sector is rising at rapid scale. Managing entity in 21st CE requires a deep
level of market information on the basis of which it is easy to execute the business activities in
correct way (Butkus, 2018). The education and child care industry is growing which makes it
necessary to expand the business at wider level. This is becoming crucial to focus on accessing to
competitive benefits so that survival period increases. Main aim of this report is to understand the
importance of development of business. Growing Stars Nursery, a Nursey in Harrow, United
Kingdom that provides the best quality of health care to children. This report consists of a
marketing plan, strategy, financial plan and technology plan.
MAIN BODY
Overview of a nursing company (Growing Stars Nursery)
Growing Stars Nursery is a firm in the childcare sector that aims at delivering of best
quality of childcare services. Enterprise is located in Harrow, United Kingdom and is also aiming
towards the development of business for further accessing to success as well as growth. At the
location, firm has 8 employees and generates around $328,378 in sales (USD). In UK, there are
many types of nursing firms and provide wider range of services to public and parents. Enterprise is
also aiming at expansion of business in many new locations so that benefits are achieved in easy
way. With access to new services and business, company is focusing on developing of their child
care centres to target more new customers.
GSN is focusing on expanding their services across the globe to provide new learning at
larger scale. This is because they want to put new learnings to students and provide a high quality of
childcare (Conboy, 2020).
Marketing strategy
Marketing strategy in business are essential to be used on basis of which it is easy to carry
out the product and service development. When main aim is to develop and expand the business, a
proper marketing strategy is needed at all aspect. Without use of marketing strategy, it is difficult to
access the competitive benefits. It is critically important for businesses to adopt the marketing
strategies in such a way that all goals are accomplished (Fox, 2020).
A strategy is to be defined as set of actions or tactics that is used to achieve competitive
advantages in market. In Nursing sector, strategies are being applied on the basis of which business

development plan is created. Main benefit of using this strategy is that it helps in accessing to
achieving of higher competency level. So, four types of marketing strategies in context of Growing
Stars Nursery is given as follows-
 Product- A product refers to item or thing which is used for sale. Product is needed to be
examined and identified so that it is easy to access to market and customers. In relation of
selected entity, they provide child care services which is known as their product. Without a
product it is not possible to execute business operations. By providing of services, they are
able to develop new way childcare (Khan, 2017).
 Price- A price refers to set of value which is applied on product or a service. Price play
crucial role in marketing strategy as because it helps in analysing of value of a product or
item. In business, price is flexible and changes on basis of market situations. In relation of
chosen nursing firm, they too need to use pricing strategy such as premium pricing,
skimming, penetration etc. The price of child care service depends on market and
competitors.
 Place- A place refers to location or a distribution from where the products or services are
distributed. In relation of selected firm, they are locate at Harrow from where it is easy for
customers to use the service in easier way. Place is important to be considered so that
services are distributed easily. They need to more enhance their branches so that child care
services is provided at wider scale. To enhance business, new branches are to be developed
so that it is easy to be developed so that services are delivered (McGuinness, 2017).
 Promotion- This is another type of marketing strategy which is required to be focused so
that benefits are obtained. A promotion is defined as way of promoting and advertising a
brand name or a product. In business, promotion helps in increase of goodwill of brand and
makes people aware about the product or service in market which are to be distributed
within a new business to customers. So, in case of Growing Stars Nursery to develop a
business they are going to be used digital channels for promotion of their child care services.
So, above discussed matter states that it is essential to use marketing strategy in correct way
so that benefits are obtained. With use of these marketing strategies, it is easy for new business to
access and achieve their set objectives within period of time.
Operations
This is an important part of business plan as because it reflects about what is to be achieved
and accessed. Business operations are properly needed to be executed so that positive benefits are
achieved. In relation of chosen firm, they make assure that proper operations activities are
appropriate executed. Appropriate type of techniques and technologies are needed to be used in

correct manner. Operation is a wider concept which comprises of several elements which are
described below-
Mission
Mission of Growing Stars Nursery is to assist firms and hire the right talent properly to
discover and develop careers they love.
Vision
Vision is to create a world with new learnings and development.
Objectives
 Main objective of Growing Stars Nursery is to increase their child care services.
 To access the new business opportunities in order to achieve business goals.
 To deliver best quality of services to customers and clients in every situation.
Goals
The goal of company is to achieve a brand image through providing of a good quality of
services.
Procedures
A procedure refers to way or a path through which business is going to be carried out. The
procedure consists of a different kinds of a systems, techniques which are to be used to develop a
new business. With consideration of these procedures, it is easy to carry out the new business in
appropriate manner (Miller, 2018).
Timeline
When launching a new business, it is essential to set a time line for every activity so that
goals and objectives are achieved in most efficient manner. With consideration of timeline, it is
easier to make decisions in systematic way. Moreover it is analysed that supervisor of chosen
business have set a proper timeline for business and other activities which will be completed on
time (Moşteanu, 2020).
Financial plan
In situation of new enterprise, finance is needed at all aspect which is required to be used
with proper considerations. A financial plan can be prepared by using a correct statements,
recording of transactions etc. It is stated that this plan is crucial which need a advanced level of
knowledge.
This has been stated that operations are crucial which are needed to be executed in
appropriate manner. Further, this is analysed that the elements of operation are important which are
to be properly understood. So, with consideration of this business plan financial plan is further
discussed as follows-

Technological plan
A technological is defined as process or a procedure which is used to understand and
examine what is actual good for staff and organisation. With development of this plan, it is easier to
achieve technological activities and enhance the productivity level of business at higher scale. It is
a critical process which is to be carried out in most efficient way. When developing a new business,
technology is needed a all level, so it is crucial to prepare a technological plan so that benefits are
obtained in easy way (Pagani, 2017).
Vision
Vision of a technological plan is to develop and achieve effective system for business
expansion.
Mission
Mission is to improve the efficiency level of new focused business in market.
Objective
 Main objective of technological plan is to achieve a higher benefits and productivity.
 To examine the faults in current system of business.
Specification of system requirements
Before using a technology in new business, speciation of system requirement are needed to
be identified and examined so that technology is used in positive way. Specification of systems
requirements helps in making of decisions appropriately. Moreover, it is too seen that correct type
of system is to be used so that proper kind of system requirements are to be adopted.
So, different types of specifications of system requirements are mentioned as follows-
 Advanced software and tools
 Efficient resources such as WI-Fi

 Technical team
Financial estimates
It is estimated that th4e financial estimate of technology plan is around $3000. The process
of technology plan is time consuming and expansive. So, financial budget is required to be prepared
in correct way (PETROVA, 2017).
Therefore, from above discussed paragraph, it is analysed that it is important for business
organisation to focus on creating a new business in proper manner so that goals are achieved in
appropriate way. Moreover, it is also analysed that a wide level of research analysis is needed so
that it is easy to make decisions within a business or a new enterprise (Tarafdar, 2019).

CONCLUSION
After a brief analysis of above report, it has been concluded that it managing enterprise in
21st CE is not easy and which requires a proper knowledge and level of expertise. With changing
period of time, it is becoming necessary to expand the business for future growth and development.
So, discussions have been made about the business and financial plan, marketing strategy and
technology plan as well as operations. It is too stated that level of competition in every area of
industry has been rising and which increases the rivalry in sector. Moreover, it have been examined
that an appropriate kind of research as well as market analysis is needed at all aspects. This is also
essential to have relevant resources so that it is easy to implement strategy in well effective manner.
Furthermore, proper decision making is needed to be carried out so that benefits are easily achieved.

REFERENCES
Books & Journal:
Butkus, 2018. Use Your Numbers: What’s essential to private practice success? A solid financial
plan that you tweak based on what your practice spends and earns. The ASHA Leader,
23(1), pp.42-49.
Conboy, 2020. Using business analytics to enhance dynamic capabilities in operations research: A
case analysis and research agenda. European Journal of Operational Research, 281(3),
pp.656-672.
Fox, 2020. Advanced Problem Solving Using Maple: Applied Mathematics, Operations Research,
Business Analytics, and Decision Analysis. CRC Press.
Khan, 2017. Globalization and the challenges of public administration: Governance, human
resources management, leadership, ethics, e-governance and sustainability in the 21st
century. Springer.
McGuinness, 2017. Creating a Business Plan for a startup service company.
Miller, 2018. Transforming the future: Anticipation in the 21st century (p. 300). Taylor & Francis.
Moşteanu, 2020, August. Disaster Management, Digitalization and Financial Resources: key
factors to keep the organization ongoing. In Proceedings of the 2020 4th International
Conference on Cloud and Big Data Computing (pp. 118-122).
National Academies of Sciences, Engineering, and Medicine, 2018. Open science by design:
Realizing a vision for 21st century research.
Pagani, 2017. The impact of digital technology on relationships in a business network. Industrial
Marketing Management, 67, pp.185-192.
PETROVA, 2019. How to create a business: from idea to business plan. COLLECTION OF
ARTICLES OF STUDENTS, p.92.
Tarafdar, 2019. Using AI to enhance business operations. MIT Sloan Management Review, 60(4),
pp.37-44.
Yang, 2017. Entrepreneurial marketing of international high-tech business-to-business new
ventures: A decision-making process perspective. Industrial Marketing Management, 64,
pp.147-160.