Analyzing the Management of SMEs: A Report on Connect Catering

This report delves into the intricacies of managing small and medium enterprises (SMEs), using Connect Catering, a UK-based catering company, as a practical example. The report begins by highlighting the significance of SMEs in economic growth and productivity. It explores the entrepreneurial characteristics crucial for success, the SME start-up processes, and the importance of a well-defined business plan and budget. The analysis extends to identifying competitive advantage sources such as price discrimination, human capital, and employee engagement. The report utilizes Porter's five forces framework to analyze the competitive environment and demand. It then examines the stages of business growth and development, emphasizing the challenges of managing and running an SME, especially in the context of the COVID-19 pandemic, and strategies for growth and development. The report also touches upon government support measures and concludes with recommendations based on the findings. The reflective journal component adds a personal perspective to the learning experience.