Small Business Enterprise Report

This report provides a comprehensive analysis of London Mirror, a small business enterprise offering accommodation services. It examines the company's background, internal and external factors affecting its performance, including financial and non-financial aspects. A comparative analysis with ...Read More

SMALL BUSINESS ENTERPRISE

Table of Contents
INTRODUCTION...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
1.1...........................................................................................................................................................3
1.2...........................................................................................................................................................4
TASK 2..........................................................................................................................................................6
2.1...........................................................................................................................................................6
2.2...........................................................................................................................................................7
2.3...........................................................................................................................................................8
TASK 3..........................................................................................................................................................9
3.1...........................................................................................................................................................9
3.2...........................................................................................................................................................9
3.3.........................................................................................................................................................10
TASK 4........................................................................................................................................................10
4.1.........................................................................................................................................................10
4.2.........................................................................................................................................................11
4.3.........................................................................................................................................................11
CONCLUSION.............................................................................................................................................12
REFERENCES..............................................................................................................................................13

INTRODUCTION
The role of small business enterprise has increases with the external market difficulties
which enhances an entity's performance. The business need to operate their existing business in
order to grab higher market opportunities to raise their current level in order to bring out their
existing skills and talent. London Mirror will be selected for this project report which
emphasised in attracting wide number of customers towards their business. This report is all
about explaining the internal factors used against the competitors of this existing business. This
is also stresses on identifying its financial and non-financial performance of an entity. It is also
focuses on the action plan framed by an enterprise in order to implement external market
changes in the existing business entity.
TASK 1
1.1
Company background
London Mirror offers different variety of accommodation services in order to cater the
needs and expectations of different set of customers (Bordum, 2010). This kind of place provides
unique services to please their client’s expectations by providing friendly atmosphere. This place
is the nearest lace to the Heath row airport London in the front street of the London. This place is
located in the famous streets of the London which is one of the recognized shopping destinations.
This place gained higher recognition as this located in the heart of the United Kingdom which
attracts wide number of visitors to this place. This place offers variety of rooms according to the
convenience of different kinds of customers. The budget of the customers will be given higher
importance by amending prices according to different class of the society such as rich class,
middle class and the rich class services and amenities. It can be said that amenities will be intact
in a simple framework or lavishness wrapped in simplicity.
Internal information
Name and address- London Mirror, Oxford Street
Contact no. [phone]

E-mail- [e-mail]
Website- http://www.bedandbreakfastheathrow.com
Strengths
 The variety of services and amenities offered by this entity is totally different from any
other business exists in the London.
 It offers free Wi-Fi facilities, complimentary lunch, breakfast and dinner which is the
speciality of this place as this unique service will not find anywhere.
 The important element is the quality of services and products offered to please variety of
customers are offered with different qualities to gain their trust.
Weakness
 The basic weakness faced by this place is to face high level of competitors as it is located
in the famous streets of the London which is surrounded with the different variety of
competitors. Another important weakness of this place is the short space which is creating difficulties
in order to meet the different variety if customer needs and the expectations in order to
gain the higher level of customer satisfaction.
1.2
London Mirror
￡'000
Jesmond Dene
￡'000
Year PBT Taxation PAT PBT Taxation PAT
2016 100 20 80 300 60 240
2015 80 16 64 250 50 200
2014 60 12 48 200 40 160
2013 40 - 40 180 36 144
2012 20 - 20 100 20 80
Interpretations

The small scale enterprise establish with small amount of money as their primary motive
is to grab small market share in order to marked their foot on the exiting business. The
abovementioned London Mirror is an accommodation service provider which offers variety of
services to please the needs and the expectations of different set of customers. The profitability is
the primary aim for which every enterprise operate their business successfully (Carlisle and
Flynn, 2015). The profitability is one of the financial performance measures. The complete profit
earned by an entity after meeting all kinds of expenses incurred in a particular year along with
the important expenses that is the taxation obligations. The performance of an entity has been
compared with its biggest competitors such as Jesmond Dene. The profitability of this entity has
increases from one period to another as compared with its competitors. The taxation obligation
of the Jesmond Dene is higher than the London Mirror as its profit is higher which decreases its
existing profit earned by them in a particular year.
Price Comparison
Room type London Mirror Jesmond Dene
Standard Double En suite ￡1500/ Per Night
Basic Five Bedroom ￡750/Per Night
Double bed En suite ￡44 to ￡85
Shared Bedroom ￡40to ￡65
Family En suite ￡42 to ￡55
Single Bedroom ￡35 to ￡39
The price is the basic element that changes an entity’s behavior towards the particular business
as these needs to be developed with proper care (Bordum, 2010). The prices are the transparent factor
that showcases the ability of an enterprise to lower or higher the prices to please and attract wide
number of customers. The price comparison is done among the current business enterprise with their
biggest competitor that is Jesmond Dene. It has been observed from the above analysis that London
Mirror has affordable pricing as compared with its competitors who emphasized on earning higher
prices from the customers.

Non-Financial performance
Customer satisfactions
Criteria London Mirror(1-5) Jesmond Dene
Quality 5 5
Services 4 2
Pricing 5 2
Hygiene 4 3
Location 5 3
Policies 3 4
Facilities 5 2
Space 5 2
Offers and discounts 3 2
The customer satisfaction is the basic weapon which can be used by an entity owner in order to
improve their existing business conditions which will help in beating existing competition (Audretsch,
2011). This high level of competition can be curtailed by taking the support of all customers along with
the existing business in order to enhance the existing working conditions. The above mentioned
customer satisfactions has been evaluated on evaluating scales this scale will rank the efficiency of the
business on a rating of 1-5 points on the different parameters such as quality, pricing, services, location,
hygiene factors, policies, facilities, space and the offers and discounts. This non-financial analysis has
identified that London Mirror has beaten its biggest competitors by raising its existing levels of the
business.
TASK 2
2.1
The London Mirror needs to be strong enough in order to meet all of their needs and
obligations to stay on in the race of all the competitors of earning higher market share. This kind
of place offered simplified services to please variety of needs and demands of several clients.
This place offered different range of services wrapped in the lavishness which is offered to all
customers the primary motto of this organization to serve their services all categories of the
society. The main aim of this entity is to promote social equality b serving all categories of the
society at one place. There are various actions need to be taken by this place in order to
overcome its weaknesses which are given as follows:
Higher competition- This particular weakness of an entity is to face different number of
competitors as wide number of accommodator services surrounded by this entity. This weakness

of the business will be improved by bringing innovative and creative approaches used in this
particular entity to set unique identity of this place among all other competitors (Burns, 2011).
This can be done by presenting digital hoarding on the streets to visualize all the services offered
by this entity to attract all kinds of customers to visit this place for a while. The technology can
be used in distributing digital brochures to the variety of customers as a present to visit the place
for once to ensure its accuracy and reliability of the information supplied through these
brochures.
Short Space- The existing business of an entity is unable to provide variety off services to its
different number of customers. The short space will restrict its variety of customers in meeting
all their business needs and the expectations in a given time span. This weakness will be
improved by expanding the space in the backyards space and the front space of the gardens will
be strongly utilized in providing different business activities. The gardens will be used by
building temporary homes with wheels that can be moved from one place to another.
2.2
The existing strengths of the business are required to be maintained in order to give tough
fight to all of its competitors (Bordum, 2010). The primary motive of the business entity is to
treat all their customers differently in terms of price, quality of services and other important
factors. These factors will be considered by an entity that can be utilized against its rival
members. The existing business entity need to be recognize all of their strengths as this will help
in increasing their overall market share. There are various ways in which the existing strengths of
this entity need to be maintained which are given as below:
Customer club-The existing base of customers need to be maintained properly in the existing
business entity. The existing set of customers is retained with the existing business by meeting
all their needs and the expectations (Botha and Solms, 2014). The club will organize variety of
events in some place to retain all their customers with the long time in the business. This club
will offer discounts and offers in order retain all of their customers in the same business. This
approach will also bring additional customers along with the same kind of customers held with
the same business.
Marketing- The existing business need to conduct different marketing techniques in order attract
wide number of customers to cater different variety of needs and the expectations of different

customers. The existing capabilities that is the strengths possessed by an entity in attracting wide
number of customers in achieving various goals and the objectives of the business entity. The
current skills and amenities provided by the business are advertised properly in order to cater the
needs and the expectations of various customers
2.3
London Mirror needs to expand their existing business in order to gain higher market
share which is essential in order to take bigger share (Bordum, 2010). The higher market can be
captured by getting higher level of customer support from different variety of customers which
support an entity in achieving their desired aims and the targets. Ans off matrix need to adopt by
this organization in expanding their existing business entity which is given as follows:
Market penetration- The London Mirror need to re-define it’s exist products or services by
adding the unique features in their existing products or services offered to the variety of
customers. The different variety of goods and services offered to variety of customers in the
existing market.
Product Development- The barbecue services will be offered to the different variety of
customers which is the new product offered by this entity to its variety of users. This offering of
unique services of different customers while operating in the existing business entity.
Market Development- Existing accommodation services offered by the London Mirror such as
all products or services of the different customers (Carlisle and Flynn, 2015). The current
services will be provided to the hostel students and bachelors who came outside their original
country for various reasons like education and the employment. This providing of unique
services will be offered to the variety of customers in developing unique services. The restaurant
needs to be developing by the existing business in order to gain the high level of customer
satisfaction.
Diversification- The services offered by this particular entity will diversify its existing business
by taking new enterprise of different nature such as Entertainment club. This entertainment club
services will help in enhancing the existing base of customers (Carlisle and Flynn, 2015). These
unique services will help in achieving all kinds of goals and the objectives in best possible
manner.

TASK 3
3.1
There are various objectives framed by the London Mirror which needs to be help in
achieving its desired aims and targets which are given as below:
 The current business entity is to give emphasized on the quality of services offered to the
variety of customers.
 The target customer of this particular entity is different variety of customers such as
bachelors, all aged groups.
 The pricing strategies need to be developed in order to attract variety of customers in
front of different customers.
 The quality factor needs to be considering properly by this entity in designing of various
goods and services which is offered to the variety of customers. This unique quality of
goods is delivering in different context in order to gain higher level of customer
satisfaction.
 The price sensitive customers are pleased with the variety of services in order to earn
their trust which will be beneficial for an enterprise in order to make future business
move in order to achieve their desired aims and targets of the business entity.
3.2
The changes play an integral role in the existing business as the small scale business
enterprise is wholly devoted to the external market needs and the expectations (Bordum, 2010).
The plan needs to be framed by an entity in order to guide its existing business by accomplishing
all the tasks and duties in a given time span. The current plans need to be flexible enough in
order to incorporate all kinds of changes in the existing plan to uplift their existing situations.
Following are some ways which can be used in order to consider external market demands which
are given as follows:
Environment Scanning- The existing business need to be assessed properly in order to find out
all potential outcomes discovered. The trends and patterns of the bed and breakfast industry will
be considered by an entity. The quality of products or services and needs and the expectations of

different customers will be considered properly in order to make significant changes in the
existing plan.
3.3
Action plan is directive statement which gives adequate direction to an entity which
provides future direction to the business (Burns, 2011). This action plan will help an entity in
order make significant changes in their existing business to get competitive advantage over its
customers. This plan is that framework which helps in executing all necessary changes in the
existing business entity. The top management off the London Mirror who will conduct external
market research in order to consider different needs and
Expectations of variety of customers will be consider who supported an organization in
achieving all of their needs. The primary obligations of all members of the society to meet all of
their needs by offering variety of products or services in affordable pricing fully wrapped in the
god quality. There are various factors on which this action plan emphasized which are given as
below:
 It offers unique capabilities of an enterprise
 Quality of products or services
 Higher share of market
TASK 4
4.1
Action plan framed by the owner of the London Mirror decided to incorporate all the
changes which need to be implemented in its existing business ((Carlisle and Flynn, 2015)). It
needs to adopt Kurt Lewin change management process in order to grab high number of
opportunities in relation with their existing businesses which are given as below:
Unfreeze- This is step is regarded as the crucial role played by the top management of the
London Mirror in order to support in initiating a change in their entity. The top management is
essential in order to convey all kinds of benefits of this particular changes takes laces in an
enterprise. This communication among top management and all employees is essential in order

to bring changes in the traditional trade practices of all employees. The changes will be
beneficial for an entity in terms of salary, incentives, bonuses and higher job opportunity
Change- The changes will be executed after aware all the employees towards the positive
attitude adopted in relation with the changes takes places in the organization.
Freeze- In this stage the employees more comfortable with the changes as this will become one
of the norms of the business and doesn't seem like a modification.
4.2
There are various changes need to be done by this particular enterprise which are given as below:
Personnel needs- The existing employees of this business enterprise need to be fulfilled as these
are the presenters who cater the services of an entity.
Financial resources- The funding requirement of the business need to be consider by taking
additional capital from the external entity such as venture capital.
Training and support- The training sessions to be organised in the existing business to improve
the existing capabilities of an enterprise which will further help in achieving all kinds of the
goals and the objectives of an entity.
4.3

Gantt chart
This technique is widely used technique in the project management which helps in
administration of the overall business project in a systematic order (Arend and Wisner, 2015).
This tool will help in presentation of different tasks and duties allotted to the different tasks. This
is also regarded as the scheduling of the projects which identified the variety of goals and the
objectives achieved by an entity throughout the period. The performance of each and every
individual will be monitored properly in order to find out any prospective errors in the current
business proposal. This particular technique will further help in identifying the start and end
period of this particular project. There are various benefits of using this kind of tools which are
given as below:
The network diagram used as one of the important technique of the project management
tool which helps in visualizes the overall project. This particular technique is further used in
identifying the critical path of the project that determines the actual duration of conducting a
business proposal in a given time frame.
CONCLUSION
It can be summarised from the above project report that decisions will determine the
existing business of small scale enterprise. This report will emphasise on opening on new
business entity in the UK. The current report is all about explaining the internal and external
market analysis in order to identify the existing factors which defines an entity's capabilities.
The viability of the project will be assessed by project management tool. The business expansion

approach is also considered by using Ans off matrix in which existing capabilities are enriched
throughout the report.

REFERENCES
Books and Journals
Arend, R. J. and Wisner, J. D., 2015. Small business and supply chain management: is there a
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Audretsch, D. B., 2011. The role of small firms in US biotechnology clusters. Small Business
Economics. 17(1-2). pp.3-15.
Blackburn, R. A., Hart, M. and Wainwright, T., 2013. Small business performance: business,
strategy and owner-manager characteristics. Journal of small business and enterprise
development. 20(1). pp. 8-27.
Bordum, A., 2010. The strategic balance in a change management perspective. Society and
Business Review. 5 (30. pp. 245-258.
Botha, J. and Solms, V. R., 2014. A cyclic approach to business continuity planning. Information
Management & Computer Security. 12(4). pp. 328–337.
Burns, P., 2011. Entrepreneurship and small business. Pal grave Macmillan.
Carlisle, E. and Flynn, D., 2015. Small business survival in China: Guanxi, legitimacy, and
social capital. Journal of Developmental Entrepreneurship. 10(01). pp.79-96.
Corso, M. and et. al., 2013. Knowledge management configurations in Italian small-to-medium
enterprises. Integrated Manufacturing Systems. 14(1). pp.46-56.
Landstrom, H., 2007. Pioneers in entrepreneurship and small business research (Vol. 8).
Springer.
Lim, C., 2010. Risk Management in Small-medium Enterprises. GRIN Verlag.
Longenecker, J. and et. al., 2013. Small business management. Cengage Learning.
Quiescent, M. and et. al., 2006. Business process-oriented design of enterprise resource planning
(ERP) systems for small and medium enterprises. International Journal of Production
Research. 44(18-19). pp.3797-3811.
Rauch, A. and et. al., 2009. Entrepreneurial orientation and business performance: An
assessment of past research and suggestions for the future. Entrepreneurship Theory and
Practice. 33(3). pp.761-787.
Online
Apple House Guest house Heathrow Airport, 2016 [Online] Available through:
<http://www.bedandbreakfastheathrow.com/facilities/> [Accessed on 14th September
2016].
Hanlon. A., The Ansoff Model, 2013 [Online] Available through:
<http://www.smartinsights.com/marketing-planning/create-a-marketing-plan/ansoff-
model/> [Accessed on 19 December 2016].