Analysis of Quantum Technology Marketing Limited as a Small Business

This report provides a comprehensive analysis of Quantum Technology Marketing Limited, a small business enterprise (SME). It begins with an introduction to SMEs, their characteristics, and the specific context of Quantum Technology Marketing Limited, a marketing company specializing in technology services. The report then delves into a detailed profile of the SME, identifying its strengths, such as its established reputation and customer trust, and weaknesses like increased noise and limited service lines. A comparative analysis evaluates sales, marketing, human resources, technology, and production aspects. The report proposes actions to overcome weaknesses, including setting SMART objectives and implementing problem-solving strategies. Furthermore, it explores ways to maintain and strengthen existing performance through cash flow management, customer satisfaction surveys, benchmarking, and training. The report also discusses potential areas for business expansion, such as entering new markets and adopting new technologies. The report concludes with an assessment of business objectives and plans, including the company's activities, planning, organizing, directing, staffing, and controlling mechanisms.

SMALL BUSINESS
ENTERPRISE

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1 ..........................................................................................................................................1
1.1 A profile of SME identifying its strength and weaknesses ..................................................1
1.2 Comparative analysis of Quantum technology marketing limited .......................................2
TASK 2 ...........................................................................................................................................3
2.1 Appropriate action to overcome weaknesses of businesses..................................................3
2.2 Ways in which existing performance....................................................................................4
could be maintained and strengthened.......................................................................................4
2.3 New area in which business could be expended ..................................................................5
TASK 3 ...........................................................................................................................................5
3.1 An assessment of business objective and plan......................................................................5
3.2Business plan to incorporate appropriate changes.................................................................6
3.3 An action plan to implement changes...................................................................................7
TASK 4............................................................................................................................................7
4.1 The impact of of proposed changes on business and its personnel.......................................7
4.2 Plan for managing changes in businesses.............................................................................8
4.3 Monitor improvements in the performance of businesses....................................................9
CONCLUSION ...............................................................................................................................9
REFRENCES ................................................................................................................................10
.......................................................................................................................................................11

INTRODUCTION
Small businesses enterprises are owned by an individual or group of people in order to
maximise profit. These are the firms which are being able to apply for government assistance and
support. They are qualify for governmental tax policies that are depending on country and firm.
The owners of small business are responsible for managing and controlling all activities of their
firm. Quantum Technology Marketing Group limited is most popular small business enterprise
which provide marketing tools and services for technology firms in united kingdom as well as
internationally(Aremu and Adeyemi, 2011). It provide account based marketing services and
they give event registration facility to generate demand and promotional webinars. Quantum
technologies is described as umbrella term for all tools and techniques that make proper use of
technologies to attain new goals and objectives. This is leading business which work for earn
high scale of profit.
TASK 1
1.1 A profile of SME identifying its strength and weaknesses
The small business organisations are owned by individual or a small group of people who
work for common purpose. Quantum technology marketing limited is a well known private
limited company which have high amount of share capital. It is founded in 1998, and it is based
on reading. Additional offices are in united kingdom, Ireland, India and Russia. The company
has start their business with 10 directors and secretaries. Manjinder Dale, Mr Kevin James, Mr
Loman, Antony Mitchell Crawte are director of the organisation. They all are start up Quantum
technology marketing limited with equal share capital in order to earn high amount of profit.
Companies director and secretaries are the major shareholder who get advantage of profit. The
major purpose of this organisation is to satisfy their customers through products and services.
Quantum technology limited is a marketing company which promote other brands and
products at market place. It render account based marketing services to their clients. It has
products related with technology which are helpful in promoting others.
The basic objective of this firm is to provide best services to their clients. They have
customers and clients who are related with technology sectors. Their major purpose is to
conduct high profile promotional activities for their clients and customers.
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The major strength of Quantum technology marketing limited is that it is known by wide area
and people have faith and trust on the company. As a well known company large number of
clients are attracted towards organisation in order to get promoted among the public.
1.2 Comparative analysis of Quantum technology marketing limited
Every organisation need to collect statistical data and information for determining the
current situation of organisation (Blackburn, Hart and Wainwright, 2013). Comparative analysis
is used in different modification of sciences. This analysis provide statistical data by comparison
of two or more than two comparable, processes, products, set of data, system, alternatives or the
link. Quantum technology marketing limited is a private company.
Sales : The profit of company is based on total expected sales, firm put its all affords to increase
their sales at market place. As a marketing company Quantum technology limited need to use
marketing tools and techniques for maximising sales, so that large number of clients are attract
towards the organisation.
For example: the expected sales of company is 20,000 $ and actual sales of firm is 25,000 $. so
are the data of sales it is evaluated that organisation is in the condition of profit.
Marketing : As a well known firm, it is popular among wide area and people and clients having
faith and trust on them. They provide high scale of marketing services to their clients and ensure
them about their promotion.
For example: Quantum technology limited use promotional campaign for attract large number of
buyers.
Human resource and technology: These are two basic and important element of an organisation.
These two are widely used in production process. The utilisation of human resource and
technology is important.
For example: Quantum technology limited hire well skilled people who are having righ and
significant knowledge about marketing aspect or technology.
Production: As a telecommunication company, it needs to promote other clients brand and
products as per the demand of their clients. They use varios marketing strategies for promote
goods.
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TASK 2
2.1 Appropriate action to overcome weaknesses of businesses
Every business firm having some strength and weaknesses of their own. Strength are
power for firm and weaknesses termed as issues and conflicts which need to be overcome by
firm (Broekemier, Chau and Seshadri, 2015). As a marketing consultants major weakness of
Quantum technology limited is its dramatically increased noise which has impact on its rate. The
unit cost rate is significantly stable there is not any change arises in their cost. Company provide
limited service lines, problem related to management of staff and marketing deficiencies. The
organisation should identify their competitors and then make strategies which are not followed
by competitors. Firm needs to keep an eye on profitable activity of other competitors which are
helpful in increasing profit. Firms should give proper detail about their services to their clients,
so that customers can easily evaluate work procedure of firm.
SMART objective of Quantum technology limited:
Specific: The organisation should clear about what they are need to achieve and how an
organisation reach at their objectives and goals. Firm needs to explain all sufficient information
and detail about problems and issues, so that they can be solved in effective manner. Company
should use specific marketing objectives, it means company needs to focuses on an efficient plan
to increase efficiency.
Measurable: First of all company needs to evaluate past milestones for selecting best marketing
plan for their future purpose. The number of unit sold, sales revenue, generated total profit are
some aspect of marketing plan. Organisations measurable objectives should be specific in nature
in order to attain effective result.
Achievable: Every firm create a plan for future purpose, growth of business should kept in mind
while making marketing plan to achieve targeted goals and objectives. A positive and realistic
marketing plan motivate employees to put more affords for achieving organisational goal and
objectives.
Realistic: Resource planning is main objective between SMART and realistic objectives.
Organisation should make plan with some realistic objectives. Firm may have product
momentum to identify a proper and significant jump in unit sales, but they may not have
production and distribution in a particular place to make it real (Chittithaworn and et. al., 2011).
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Timed: Each and every business firm make an marketing plan before start an operation function.
Time management is important for every activity. Through this it is easy for an industry to
maintain their work in giving period of time.
Problem solving strategies: As a well known telecommunication company Quantum
technology limited faces so many problems, and for this they prepare some solving plans for
overcoming the issues and conflicts. Problems are unwanted, they appear at any time and any
where. So firm needs to make backup plans for solve them in effective manner.
 Company solve issues and problems through internal and external discussion with
employees as well as clients (Muller, 2012).
 Healthy relationship with subordinated help an organisation to resolve issues in firm.
The member of top department having a conversation with each and every employee to
determine the issues and provide a significant solution to solve their problems.
2.2 Ways in which existing performance
could be maintained and strengthened
The major purpose of every organisation is to maintain existing performance of firm in
order to attaining sustainable profit and growth. If the existing performance of a company is
good than organisation needs to develop and make some innovation for high level of success. For
maintain existing performance firm need to follow some aspects which are described as under:
Maintaining good cash flow position: Cash is important in every business firm. Cash is
widely used in every activity of business. Firm needs to maintain its flow of cash in organisation
in order to get high and long run profit.
Customer satisfaction survey: Quantum technology limited conduct a marketing survey
for identifying needs and wants of customers, so that they can provide services and products for
satisfy them. Basic objective of every organisation is to fulfil the demand and need of customers
in order to get profit. With use of marketing survey it is easy for an organisation to identify
actual need of customers and then they produce as per demand of clients.
Bench marking and training: Major purpose of every organisation is to provide best and
quality service to their customers and satisfy their needs and wants. Quantum technology limited
conduct a hart recruitment process for hire well skilled and educated people in their organisation
(Curran and Storey, 2016.). They provide a training session to old and new employees for
making familiar with company's environment and with new and innovative tools and techniques.
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This training and development session help employees to improve their knowledge and skills in
order to attain high benefits.
2.3 New area in which business could be expended
Quantum technology marketing limited is well established small business organisation,
which is placed in united kingdom. It provide beneficial services to clients who are in the
geographical area of same country. They put their all affords to expand their business in other
country's , for better expansion they make collaboration with other well known organisations in
order to get more and high degree of success. The company conduct promotional campaign for
other small brands, and for expansion they make some effective and efficient affords for enter
into new and wide area of market. They target high profile company for their business activities.
Company render some beneficial offers and services to high profile organisation for influence
them and approach the firm for establishing a good communication channel for the company.
For expansion they adopt new tools and technologies for making high degree of profit. As a well
known organisation they merge with operational organisations who are producing innovative
goods and service.
TASK 3
3.1 An assessment of business objective and plan
Business objectives:
 To identify differentiate needs of customers.
 To evaluate profit for firm.
 To determine the satisfaction level of customers.
 To obtain strategies which are helpful in achieving organisational goals.
Business plan of cited company is determined in following ways:
Activities of company: firm promote products and services of other companies in order to
make popular among public (Czinkota, Ronkainen and Moffett, 2011).
Planning: Firm make an effective marketing plan for getting efficient out come. Quantum
technology marketing limited is focused on designing and maintain plan for better future
operation.
Organising: Company put their all affords to organise the designed plan in a proper
formate, so that employee can easily work in right direction.
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Directing: The top management of organisation provide a right direction for employees to
work in effective manner. In this overall activities are depend on managers direction. Executive
give direction as per the blue print of an industry (Eid and El-Gohary, 2013).
Staffing: In this firm divide their employees in various groups and render different work
to individual as per their own capabilities. Through this Quantum technology limited reduce
work load from employees.
Controlling: It is important aspect in every business plan, in this top managers of an
organisation control all activities which are held in firm.
Key performance indicators are helpful in evaluating performance of employees in an
organisation and on the basis of evaluation firm award their staff members. If performance of
employee is not good than company punish or fire employee from organisation.
3.2Business plan to incorporate appropriate changes
Organisations are focused towards establishing a better business plan for future purpose.
Forecasting: Before start up operation function of an organisation, firm need to forecast their
goals and objectives. Forecasting is a process of creating prediction on the basis of past and
present data. These are the planning tools which are helpful in management activities.
Forecasting is based on some activities such as knowledge, experience and judgement of
management. Quantum technology marketing limited company use forecasting activities for
future prediction of sales and marketing. The actual means of forecasting is use of historic data
to evaluate direction of future trend.
Budgeting: It is Important for every organisation is to create a budget plan for an organisation in
order to identify their capital condition. Budget is essential component of financial success.
Budget is making for future purpose. With the use of budget planning it is easy for an
organisation top evaluate how much amount an organisation need to spend in particular task.
Budgeting is a process of preparing a detailed statement of financial result which are expected
for a given period of time in future (Fassin, Van Rossem and Buelens, 2011).
Forecasting and budgeting is important for making an business plan for an organisation. It makes
easy operation of activities which are helpful in growth and success.
3.3 An action plan to implement changes
Changes are important for every business firm, this appear changes happen in market.
Organisations produce goods and services as per the demand and need of customers, and their
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demand consist with market trend. Firm needs to prepare an action plan for implementing
changes in an organisation for purpose of growth and success (Forsman, 2011).
Quantum technology limited firstly set out an action plan which provide help to
implement changes in firm. Some time changes are beneficial for operation of organisation.
Company design a plan for easy adoption of changing activities, firm accept those changes
which are useful for firm, and reject those which are create conflict for an organisational
activities.
Company implement a well planned system to control and monitor changing activities.
This system help employees to identify changes which are helpful or not for future purpose. New
changes need to be monitored in term of security.
Quantum technology limited hire a manager to measure the changing activities which are
held in organisation. In this measurement they make comparison among past and present
activities. Then make an effective decision for future benefit of organisation.
Company focuses on setting deadlines for each and every task or activity. Firm is bound
to achieve all tasks and goals in giving period of time.
TASK 4
4.1 The impact of of proposed changes on business and its personnel
Changes are required in every business organisation for the purpose of adoption of new
and innovative tools and techniques. Changes in obstacles and technology has impacted on
finance, workloads, morale, job roles, production, physical aspects and office space. These are
described as below:
Finance: In today's scenario firm use various new and smart technologies for better action or
work. Quantum technology use computer system to keep financial data safe and secure. Because
it is not easy for firm to keep data manually (Jasra and et. al., 2012).
Production methods: Company adopt new change and techniques as per new market trend, they
produce on the basis of changing demand and preference of customers. They change their
equipments as per adoption of new tool and techniques. These changes are helpful in making
effective production of goods and services.
Job role: Company set various criteria for hire well skilled and ability people in their
organisation in order to achieve high benefit and profit.
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Office space: For adoption of changes company use various new and innovative tools and
techniques, these technologies are helpful in satisfying needs and wants of customers. If changes
are good for firm than company reach at high position and it is easy for fir to get more profit ans
success (.Olszak and Ziemba, 2012).
4.2 Plan for managing changes in businesses
Organisations paired a plan for managing changes which are helpful in organisational
growth and success. Joh Kotter's change model is helpful in set up a plan for managing changes
in firm. This described as below:
Create urgency: It is first step of changing process, changes are happen if whole
company wants to be happen in their firm. Organisation need to develop a sense of urgency
across need of change.
Form a powerful coalition: Organisation need to convince people that changes are
important and necessary. In this firm take support form key and top management people within
organisation.
Create a vision for change: When company think about changes some great ideas are
accrued in mind of top managers. A clear vision is helpful in explaining for everyone how
changes are required and important for organisation.
Communicate the vision: A clear vision determines success of an organisation. The
message of company probably have strong competition increases from day by day
communication with in company. So firm need to keep regular communication with every one in
firm.
Remove obstacles: If company follow these above steps then they reach at the
situation of building vision for organisation. Sometime employees of organisations got busy in
some other works and achieve benefits company been promoting (.Schaper, Weber and Gibson,
2014). Firm needs to take effective actions for removing issues and conflicts from organisation.
Create short term wins: Company divide their work in sub parts to achieve them in short
period of time. Firm should not choose early goals that are expensive. Success motivate an
employee more than anything else.
Build on changes: After win firm build changes for future purpose, they adopt those
changes which are required for an organisational growth and success.
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Anchor changes in corporate culture: After fixation of change it should become part of
core of industry.
4.3 Monitor improvements in the performance of businesses
Regular meetings: It is important for every business firm to conduct regular meeting just
to discuss issues and conflicts from firm.
360 degree feedback process: it is a technique of evaluating performance of employees
in an organisation. Quantum technology limited use this method for identifying and evaluating
the past and present performance of an employee (Zortea-Johnston, Darroch and Matear, 2012).
Performance reports: In this the company include all details and objectives related to
employees. This report describes the overall performance of an individual in an organisation.
CONCLUSION
As per the above report it has been concluded that major purpose of small business
enterprise is to earn huge amount of profit through providing best and quality services to their
customers. A owner of small business start ups a business with few employees and resources.
Such firms are privately owned and handled by an individual and proprietorships, partnership
and corporation. Quantum technology limited adopt required changes which are helpful in
achieving goals and objective of firm. Changes are required for every business organisation in
order to make innovation in tools and technologies.
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REFRENCES
Books and Journals
Aremu, M. A. and Adeyemi, S. L., 2011. Small and medium scale enterprises as a survival
strategy for employment generation in Nigeria. Journal of sustainable
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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.
Broekemier, G., Chau, N. N. and Seshadri, S., 2015. Social media practices among small
business-to-business enterprises. Small Business Institute Journal. 11(1). p.37.
Chittithaworn, C., and et. al., 2011. Factors affecting business success of small & medium
enterprises (SMEs) in Thailand. Asian Social Science. 7(5), p.180.
Curran, J. and Storey, D. J. eds., 2016. Small firms in urban and rural locations. Routledge.
Czinkota, M., Ronkainen, I.A. and Moffett, M. H., 2011. International business. Wiley.
Eid, R. and El-Gohary, H., 2013. The impact of E-marketing use on small business enterprises'
marketing success. The Service Industries Journal. 33(1), pp.31-50.
Fassin, Y., Van Rossem, A. and Buelens, M., 2011. Small-business owner-managers’
perceptions of business ethics and CSR-related concepts. Journal of Business
ethics. 98(3). pp.425-453.
Forsman, H., 2011. Innovation capacity and innovation development in small enterprises. A
comparison between the manufacturing and service sectors. Research Policy. 40(5).
pp.739-750.
Jasra, J. M., and et. al., 2012. Determinants of business success of small and medium enterprises.
Muller, E., 2012. Innovation interactions between knowledge-intensive business services and
small and medium-sized enterprises: an analysis in terms of evolution, knowledge and
territories (Vol. 11). Springer Science & Business Media.
Olszak, C. M. and Ziemba, E., 2012. Critical success factors for implementing business
intelligence systems in small and medium enterprises on the example of upper Silesia,
Poland. Interdisciplinary Journal of Information, Knowledge, and Management. 7(12).
pp.129-150.
Schaper, M. T., Volery, T., Weber, P. C. and Gibson, B., 2014. Entrepreneurship and small
business.]
Wynarczyk, P., Piperopoulos, P. and McAdam, M., 2013. Open innovation in small and
medium-sized enterprises: An overview. International Small Business Journal. 31(3).
pp.240-255.
Zortea-Johnston, E., Darroch, J. and Matear, S., 2012. Business orientations and innovation in
small and medium sized enterprises. International Entrepreneurship and Management
Journal. 8(2). pp.145-164.
Online
what is small business enterprise. 2015. [Online]. Available through:
<http://certifications.thomasnet.com/certifications/glossary/ownership_diversity/
ownership_diversity/small-business-enterprise-sbe/>. [Accessed on 6th July. 2017]
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