Business Report: Financial Performance of Reviveaphone Enterprise

This report provides a comprehensive analysis of Reviveaphone, a small business enterprise specializing in mobile phone repair services in the UK. The report examines the company's financial performance, strengths (such as high-quality services and data protection), and weaknesses (limited service scope and reliance on specialized staff). It includes a comparative analysis of Reviveaphone's performance against industry standards and competitors, like iPhone Surgery. The report also discusses strategies to overcome weaknesses, such as staff training, market research, and technology adoption. Furthermore, it explores potential areas for business expansion, including offering additional repair services and solutions. The report assesses Reviveaphone's existing business objectives and plans, emphasizing its focus on high-quality service and customer satisfaction.

Small business enterprise

INTRODUCTION
Small business enterprises are those organisations which are owned and controlled by the
owner itself. These are private limited organisation and also operate in relationship or sole
proprietorship under which very low number of personnels and very low yearn income than size
of organisation and company. Company have less than 50 employees and very less number of
practices and policies according to the European Union. This project report has discussed the
financial performance and business operations of Reviveaphone. It is a kind of small business
enterprise which major aim is to provide the high quality mobile rep[airing services to client and
it is business of Dragons Den series. Its major quality is to repair the mobile phone by 24 hours
without damage the internal memory and data. The major objective of this report is to
understand expansion and growth of small business enterprise by use of various ways and
criteria. In this report, how a small business enterprise states their business and survive in the
competitive market has been systematic addressed. In addition to this, company strength and
weakness related to operation and function has been also discussed in this report.
TASK 1
1.1 Overview of the company along with its potentiality and weakness
The organisation’s name is Reviveaphone is a small business enterprise in the UK. It is
mainly famous for its specialised in DIY products which has made to recover the water.
Company have turnover of 20000 and 3000 net profit as per the research and data of UK.The

major feature of this kit solution is that it can improve the mobile within 24 hours if phone is
damaged by water fallen. Cited venture has provided different and innovative services to its
customers in the UK market about repairing of mobile phone (Blackburn, Hart And Wainwright,
2013). Cited venture has announced the revenue of 13000 repair kits and conduct discussion
were underway with leading airlines virgins, easy jet and flybe to offer the kits on the broad their
flight. The major objective of this small business enterprise is to render repair services with
fixing anything from smashed screen to broken buttons. The cited venture is famous for its
excellent repairing services because it offers services along with 1 year warranty. Company
understands the value of time and busy schedule of customers and so, it repairs the damaged
mobile phone within 30 minutes to 1 hour.Company have major competitors is NH iphiones,
iphone surgery, qukfix phone repair, 168 fixit etc
Company provides major feature of this kit solution is that it can improve the mobile
within 24 hours if phone is damaged by water fallen.It gives 12 month warrenty to customer and
its most special feature is that phone can repair within 30 mionuts and ipad in 1 hour.
The major strengths of Revivephone is as follows:
 Reviveaphone has the major strength that is its high quality and warranty services to
customer. It renders the high quality of mobile repairing services to customer and time
saving opportunity to customer so as they can any time any where repair their damaged
phone.
 Reviveaphone has highly skilled and talented employees who deliver their best efforts in
order to improve company’s performance and productivity.
 Company has another major strength of its strict data protection policy through which
competitors cannot access their personal information.
 Its product have major feature is that customer data can not remove from the device
during repairing iPad, iPhones and iPad repair.
 Company have another strength is that it offer attractive discount and offer at seasonal
time through which customer can more attract toward the company
 The major objective of this small business enterprise is to render repair services with
fixing anything from smashed screen to broken buttons. The cited venture is famous for
its excellent repairing services because it offers services along with 1 year warranty.
Following are some weaknesses of Revivaphone:

 The major weakness of cited organisation is that it only repairs the mobile devices which
get damaged through water (Cassar, Ittner And Cavalluzzo, 2015). Other kinds of issues
and problem in the mobile phone cannot be resolved by its kit solution.
 Due to change in technology, company has to adopt a new technique in order to conduct
the business operations. Continuous changing technology is the major problem for
Reviveaphone.
 Company has another weakness related to staff requirement. In order to improve the
different mobile phone issue, company requires specialists and professional employees.
 Cited venture has another weakness related to inappropriate technical support. Lack of
technical support creates barriers in the business operations of business enterprise.
 Small business enterprises are mostly owned and controlled by the single person which is
the major issue for company because a single person cannot perform all responsibilities
and activities of business in an effective manner. Thus, cited venture has the major
weakness related to taking decision of business activities and functions.
1.2 Analysis of business using comparative measures of performance
In order to analyse company’s financial efficiency, it is required to compare its position
as compare to industry average. With assistance of this, it can easily analyse and compare
financial performance of Reviveaphone with its industry. Some of the methods to measure the
performance of business are as follows- Financial statement- Reviveaphone is the small business enterprise which is dealing in
mobile repairing services. As compared to the position of cited venture with its industry,
it has founded that
 Customer survey- As per the client survey, it has been found that Reviveaphone provides
excellent quality of mobile repair services to its customers in the UK market. It has large
number of competitors but still it has a strong goodwill and brand image in the market so
that it will have a large number of customers. However, it charges high prices from its
customer so, it has very low market share as compared to its competitors (Ellis, and
kiely, 2015).
Reviveaphone have major competitor is Iphone surgery who is regular focusing their efforts to
deliver top quality repairing services top its customer in the market. It supply hard contest to the
Reviveaphone to gain effective profitability and market share in the market.. Ratio analysis is

consider as the best quantitative measure and assess the comparative performance of both the
SME's
Taking into consideration the results it can be seen that although, both Reviveaphone and
iphone surgery revenues show a upward movement , but still comparative growth in sales is
higher in competitor iPhone surgery.
TASK 2
2.1 Actions to overcome weaknesses
As per the above discussion it has been founded that Reviveaphone have issue related to
business under which it does not grow properly and there is ineffective working practices
and management of humans resources.. Company management is highly responsible to
overcome such kinds of weakness from the business enterpriser. Cited firm is newly
established business it has also faced the issue related to inappropriate promotional

function. For decrease the issue related to business enterprise manager of cited venture
have to consider on the various criteria which are as follows-
 In order to improve the current process of business, management requires to recruit the
new and skilled employees so as the existing productivity of business can enhance. In this
context company should hire effective staff and experienced employees so as they can
improve the productivity and profitability of firm.
 In order to improve the business operation and productivity, company requires to
organise training ad development programs. With assistance of training, programs
employees of Reviveaphone can enhance their knowledge and skills which assist in
develop new innovation and creation in business (Gupta And Makrigeorgis, 2016).
 In order to meet customer expectation, company requires to conduct market research and
survey so as it can identify the actual requirement of customer related to product and
services. With assistance of this criteria or way it can able to improve its profitability.
 In order to change the current execution of business, organization requires to adopt the
latest technology so as it can bring some improvement in the business operation.
2.2 Evaluation of various kind of strategy through which firm can improve their performance
Reviveaphone render the extreme quality of mobile repair services to its customer but it have large
number of competitor in the market. In order to maintain the strength, company requires to focus on
the following ways-
 Market research- By conducting the research and development programs, corporation can
identify the effective idea and creativity for improving the existing performance of company.
It can identify the actual needs and wants of the customer in the market related to repairing
services. Furthermore, this strategy assist in creative the demand of customer in the market.
Reviveaphoe organisation can easily identify the customer requirement related to mobile
device repairing.
 Developing technologies- The said organisation is continuously providing repair services of
the mobile device where it has lots of opportunities to develop with the help of new
techniques. With assistance of the new technology it can improve its existing business
operation and make faster process of business (Ellis,2016). The use of various technology in

mobile repairing they can put more innovative efforts in order to gain large attraction of
customer in the market.
 Human resource development- This is another high-grade mode through with organisation
can enhance its productivity and performance. In addition to this, firm should conduct
training event so as personnels have an opportunity to increase their capability and ability of
working. With assistance of training programs, human resource can make some innovation
and creativity in the repairing services and gain large attraction of customers (Gupta And
Makrigeorgis, 2016) With assistance of training and development, company can also enhance
the popularity of business because new employees can attract toward organisation.
2.3 New areas for making expansion
In the present time Reviveaphone is providing mobile repair services in the UK market. It
only provides the repair services for mobile phone which damage by water. In order to enhance
its business, company requires to think various new area. With assistance of new dimension for
business with the help of taking initiatives of development. In order to expand the business,
company should requires to think in the new area which are as follows-
 Reviveaphone firm can expand its business by offer other reparing services like laptop,
landlines phones etc. Company can expand its business by offer various range of services
like repairing of radio, laptop, television and tablies. It can also exp[and its business by
repair the mobile other features like battery, internal and external memory and other kind
of technical problem in the mobile phone.
 Company have another option to offer the distinctive solution kit to customer through which
they can rep[are their lap top, computer and tablet. This kind of strategy can easily assist firm
in increasing the profitability and productivity.
TASK 3
3.1 Assessment of existing business objectives and plan
Reviveaphone is one of the leading business organizations of UK that offers high quality
services to the customers. Hence, offering high quality services to the customers is one of the
main objectives of organization. Along with this, maximization of productivity and profitability
by meeting customer’s expectation is another main aim of business unit. Further, company has
setting down objectives in relation to enhance market share and customer base by developing
awareness among large number of customers (Storey, 2016). Hence, with the motive to attain

success in the highly strategic business environment competent plan been framed by the firm.
Thus, considering such objectives business unit has framed plan in relation to the employment of
quality control tools and techniques. Hence, by using quality management techniques company
can deliver high quality services to the customers.
Further, with the aim to fulfill the objective in relation to developing awareness among
the customers about DIY products promotional campaigns will be done by firm. Moreover, such
company offers repairing services to the customers whose mobile is damaged due to water.
Further, mobile damage issues due to water are common that individual faces on usual basis. In
this regard, by placing emphasis promotional plans or campaigns company can develop
awareness among the large number of customers (Ellis, 2016). Along with this, to enhance
profitability aspect business unit will make focus on undertaking financial tools and techniques.
Hence, by employing all such tools business enterprise can exert control over expenses and
thereby helps in enhancing profit margin. Hence, by taking into account all such objectives and
plan company can make contribution in the attainment of goals.
3.2 Reviewing business plan and suggesting areas of change
Management team of Reviveaphone has taken decision in relation to reviewing the
existing business plans and objectives. Moreover, there are several discrepancies which take
place in the existing plan. This in turn creates confusion in the mind of personnel and thereby
influences their working activities and performance. In the existing plan, management team
entails that company will use quality management technique but it does not specify any one
(Spence, 2016). Along with this, in the given plan it is clearly mentioned by the firm that it will
undertake promotional plan. However, there is no clear specification about specific method and
strategy. Further, management team has also not specified about financial tools and techniques.
Hence, to overcome all such deficiencies business unit has developed new and effectual plan.
In the updated plan, Reviveaphone clearly mentioned that it will employ budgetary
control techniques. On the basis of this aspect, by framing effectual budget business unit can
provide deeper insight to personnel about the manner of spending. Further, it also enables firm to
assess deviations by making comparison of actual performance with standard aspects (Klapper,
Biga-Diambeidou and Lahti, 2016). In this way, by taking corrective measure within the suitable
time frame company can attain success. Along with this, in the new plan business unit also states
that it will lay emphasis on both traditional (television, newspaper etc.) and modern means of

promotion (social media). Thus, by providing information to the large number of people business
unit can attract more customers. Hence, by enticing the decision making aspect of customers
company can enhance its sales revenue and profit margin.

3.3 Formulation of an activity plan for applying alteration in the business
In the present scenario Reviveaphone is going to make budgets as well as using
promotional strategies in order to attract more number of customers. For implement such
changes action plan is requires which is given as below:
Steps Action plan Description
1 Identification In the initial stage the company will identify about the
possible criterias in order to implement strategy. Here
Reviveaphone is make changes such as implement
promotional strategies using social media where it will
identify possible areas such as Facebook, twitter etc.
2 Selection Further, it will choose criteria that is Facebook. Reason for
choose respective avenue is in today's era most of the
people are active on different Facebook.
3 Planning In this step it will make plan that how to give
advertisement on the Facebook such as create page, group,
posts etc.
4 Implementation At this stage it will implement or apply plan which is
prepared in above stage.
5 Monitoring At last Reviveaphone firm will evaluate about the
implemented plan and if finds any problem then it will take
corrective action.
4.1Impact of proposed changes on Reviveaphone
The present study will focus on effectively attaining the business growth and
development in the competitive economy. This will help the business unit in creating a well-
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defined impact on organizational success and development. Reviveaphone is a growing company
which currently is providing effective and well defined services to its consumers. The proposed
changes in the organization will affect the strategies, organizational plans and policies as well
(Rubin, 2016). Moreover it will also enhance the organizational scope of performing business
operations in a well-defined manner. The sales and development of the business thus will be
positively affected in the economy. The impact of changes on Reviveaphone can be categorized as
below: Increasing sales: The organization is planning to enhance the strategic measures to create
significant market demand by providing effective service range to its consumers. this will
help the business unit in enhancing market sales while creating a direct impact on
organizational profitability (Rocha and et.al., 2016). Higher sales will help Reviveaphone
in ensuring positive brand image and identity in the market which will be a positive growth
aspect for the organization. Market development: The organization is currently operating within limited number of
consumers offering the product and services in national boundaries. Smart phone in the
present era highly developing industry. Repair of Smartphone is the basic and significant
need of the people. The scope of business growth is hence very high in the market.
Approaching new and wider segment of employees will help the businesses in effectively
attaining the business objectives while developing market growth aspects. Strong team of employees: The Company is planning to impart effective training and
development to its employees. This will help Reviveaphone in managing a strong and
committed team of employees in the market. Moreover the growth aspects of the business
will also be enhanced by the same (Duréndez and et.al., 2016). This will help the companies
in attaining significant competitive edge in the market.
 Competitive edge:Smart phone sector is highly competitive market. Small firms to large
company outlets are providing repair services to the consumers. However Reviveaphone
phone is operatingin the niche market focusing on repairing the damaged handsets. This
service area has developed effective market demand within the economy.Providing wide
range of services in the market will help the organization in developing a significant
competitive edge thus creating a wide impact on business growth and development.
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4.2Planning the change management aspect for the business unit
Change is an integral part of the business which helps in effective growth and development of
the companies. Every company focuses on effectively coping up with the changing needs and
demands of different aspects such as government, consumers, employees etc. Reviveaphone has
proposed significant changes within the economy to cope up with the rising market competitions and
demands (Cokins, 2016). Resistance to change within employees is one of the major threat which
may result in failure of significant implementation of new plans and policies. In order to effectively
deal with the stated issue Lewin’s change model will be adopted by the organization. The major
stages of the approaches are:
 Unfreeze: Implementing changes within the companies is a critical business issue. It
creates high and significant level of dissatisfaction within the employees and staff
members. This stage of change demands well defined communication plan and objectives
to be addressed. Reviveaphone will focus on preparing the employees for the stated change
in order to create a well-defined impact on business growth and development. The aspect of
creating urgency is also crucial for effective change implementation. Moreover support and
empathy are demanded by the employees as change mostly creates a sense of threat and
insecurity within the employee. At this stageReviveaphone will develop effective
communication and support to make significant change in the market. Change:The second stage of the model focuses on executing and implementing change in
the organization. This aspect of the change deals with technology, structure, culture, or
procedures. Reviveaphone will focus on dealing with the stated aspect in a positive and well
defined manner. Creating small wins proves to be a successful measure for the same.
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Moreover any obstacles such as opposition, lack of training, low motivation etc will also be
dealt in an effective manner by the business (Storey, 2016). This will help the organizational
staff of Reviveaphone in accepting and implementing change in a positive manner.
 Refreeze: The final stage of change will focus on permanently adopting and accepting the
change within the business. Reviveaphone focuses on attaining long term success and
growth within the market and thus implementing change in a positive manner and developing
continuous development aspects will be practiced in the company to attain wide success
measures for the business.
4.3 Improvement in business performance of Reviveaphone small firm
In the present case the Reviveaphone is able to establish and run the firm an effective
manner. The company is able to generate sales consistently from the financial year 2011 to 2015
which shows that it has proper business strategies in order to attract more number of customers.
Performance of the respective business from the accounting year 2011 to 2015 is given as below:
On the basis of Revenues:
Year Revenues
2011 3400
2012 4200
2013 4550
2014 5100
2015 5700
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2011 2012 2013 2014 2015
0
1000
2000
3000
4000
5000
6000
Findings and analysis
From the above prepared column graph of revenue it has been assessed that respective
small business is capable to create higher turnover year by year. In the year 2011 revenue of
Reviveaphone is £3400 which is continuously increases and reaches up to £5700 in the
accounting year 2015. On the basis of respective analysis it can be said that the firm using better
marketing strategies which helps to enhance attraction of higher number of users and buyers in
each accounting period.
According to Net Yield:
Accounting period Net Yield
2011 255
2012 420
2013 300
2014 612
2015 855
5

2011 2012 2013 2014 2015
0
100
200
300
400
500
600
700
800
900
Interpretation
According to the net profit it can be analysed that the Reviveaphone was earned net profit
worth £255 in the year 2011. After that it increase from £255 to £420 in the financial year 2012.
Afterwards, respective small enterprise is not able to control over the indirect expenses which
lead to decrease profit in the year 2013. Further, level of net profit is increasing in two year and
reaches up to £855 in the financial year 2015. It can be interpreted that the company is managing
its firm in last two years effectively.
On the basis of Net Profit Ratio:
Year
Net profit
ratio
2011 7.50%
2012 10.00%
2013 6.59%
2014 12.00%
2015 15.00%
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2011 2012 2013 2014 2015
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
Interpretation
Apart from sales and net profit, it can be assessed from net profit ratio that from the year
2011 to 2015 the company is highly efficient in order to generating profit. In the year 2013 net
profit ratio is very lower that is 6.59% which shows that Reviveaphone company is taking higher
debt due to which indirect expenses increase. Further, the company is highly beneficial in the
year 2015 where net profit ratio is 15.00%.
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REFERENCES