Unit 33: Performance Improvement and Expansion for Small Business

This report provides a comprehensive analysis of Dance Show Live Ltd, a small business enterprise, focusing on performance review, strategic improvements, and expansion planning. It assesses the company's profile, financial performance in comparison to competitors like Dance Show Production Ltd, and SWOT analysis. The report recommends actions to overcome weaknesses, such as improving vendor relationships and promotional activities, and suggests strategies for maintaining and strengthening existing performance, including training and development. It explores areas for business expansion using the Ansoff matrix, such as diversification and market development. Furthermore, it assesses the company's business objectives and plans, reviews the business plan for necessary changes, and prepares an action plan for implementation, while also evaluating the impact of proposed changes on the business and its personnel. The report concludes with a change management plan and information on anticipated improvements in business performance. Desklib offers similar past papers and solved assignments for students.

Small Business Enterprise

Table of Contents
INTRODUCTION......................................................................................................................2
TASK 1......................................................................................................................................3
Producing a profile of business organization.........................................................................3
Comparing the financial performance of Dragons Den with other firm...............................4
TASK 2......................................................................................................................................6
Recommending appropriate actions to overcome the weaknesses........................................6
Analyzing the ways in which existing performance can be maintained and strengthened....7
Suggesting areas for business expansion...............................................................................7
TASK 3......................................................................................................................................8
Giving an assessment of business objectives and plans.........................................................8
Reviewing business plan and suggesting areas where changes are needed...........................9
Preparing an action plan to implement the changes...............................................................9
TASK 4....................................................................................................................................10
Assessing the impact of proposed changes on business and its personnel..........................10
Preparing an plan for the management of changes..............................................................11
Providing information about the improvements that take place in the business performance
..............................................................................................................................................13
CONCLUSION........................................................................................................................13
REFERENCES.........................................................................................................................15

INTRODUCTION
In the present era, government encourages small business enterprises to come with
their unique ideas and suggestions. For this purpose, government offers funding to the small
business establishment and entrepreneurs to implement their ideas and thereby attain success
in the dynamic environment. The main aim behind such initiate is to raise employment
opportunities and thereby makes contribution in the economic growth and development.
Moreover, GDP and growth of the nation is highly influenced from the employment and
living standard of people. The present report is based on Dance show live Ltd which is
planning to expand its reality shows business. In this, report will shed light on profile of such
shows which can be presented by firm in front of venture capitalists such as Dragon Den.
Hence, report will describe the areas in which business unit can expand by mitigating all the
weaknesses.
TASK 1
Producing a profile of business organization
Name of the business Dance show live Ltd
Owner structure Mr Simon Dibley and Mrs y Vette Dibley are the
main key people of an organization. Both such
directors frame strategies and policies for
ensuring the smooth functioning of business
activities (Dance show live Ltd, 2015). In
addition to this, they make assessment of
competitor’s framework and trend and thereby
build framework to achieve success. Both the
directors have 50-50% shares and take business
decisions through their mutual discussions.
History / background It is private limited company which is
incorporated according to the Companies Act
2006. Its registered office is situated in England
and Wales.
Activities Dance show live Ltd organize and broadcast
reality programs. It has specialization in making
effectual and modernize dance programs in line

with highly advanced world.
Business location The Pines Lisvane Road, Lisvane, Cardiff, S
Glam, CF14 0SF
Comparing the financial performance of Dragons Den with other firm
By conducting SWOT analysis, several strengths and weaknesses of Dance Show live
ltd have been assessed. Company has highly skilled personnel which have ability to perform
business activities in the best possible way. In addition, by taking into account the financial
growth aspect of firm it can be said that strategic and policy framework of company is sound.
On the other side, due to having less experience in such field directors are facing difficulty in
relation to attaining high profit (Storey, 2016). Moreover, in the year of 2014 company has
succeed in attaining break-even point but it failed to generate high profit margin. Hence, for
the enhancement of profit company is required to make changes in the existing strategic
framework.
Strengths
 High reputation
 Better understanding about financial concepts
 Strategic framework for saving start up cost
 Skilled personnel
Weaknesses
 Lack of promotional activities
 Lack of better experience
 Ineffective vendor relationship
In order to assess its position in against to competitor Dance Show Live Ltd has
conducted evaluation of sales revenue generated in different years. Moreover, sales revenue
is the measure which provides information about the extent to which customers like
entertainment services offered by business organization. Hence, by making assessment of
such aspect business unit can unit can assess its financial performance in against to
competitors.

Financial performance analysis Dance show live Ltd and Dance show production Ltd is
enumerated below:1
Dance Show Live Ltd
Dance show production
Ltd
Year Sales revenue Growth rate
Sales
revenu
e Growth rate
2011 2200 - 2000
2012 2400 8.33% 2250 12.50%
2013 2650 10.42% 2400 6.67%
2014 3000 13.21% 2680 11.67%
2015 3500 16.67% 3100 15.67%
2011 2012 2013 2014 2015
0
0.02
0.04
0.06
0.08
0.1
0.12
0.14
0.16
0.18
Dance show live Ltd
Dance show production ltd
From the above mentioned table, it has been assessed that sales revenue of Dance
show live Ltd increased from £2200 to £3500 at the end of accounting year 2015. On the
other side, sales revenue of Dance show production was £2000 & £3100 in 2014 and 2015.
Along with this, growth rate of Dance Show Live Ltd also increased significantly from 8.33%
to 16.67%. In contrast to this, growth rate of Dance Show production Ltd is fluctuating.
During the accounting period 2013, growth rate of Dance show production ltd was declined
from 12.50% to 6.67%. This aspect shows that popularity of show is declining to the great
extent. Thus, company needs to design and present dance show in an innovative way. Hence,
by including twists in each episode company can grab the attention level of more customers
and thereby enhance sales revenue (Curran and Storey, 2016). By taking into consideration
all the above mentioned aspects it can be said that financial position and performance of
Dance show live ltd is sound as compared to its rival firms.

Along with this, business unit makes use of both traditional and modern techniques to
promote dance shows. Moreover, Dance Show Live Ltd has placed advertisement on
newspaper and popular magazines to develop awareness among the customers about various
episodes. In addition to this, advertisements are also placed by the firm on social media with
the aim to raise graph of awareness to the significant level. By considering this aspect, it can
be said that marketing and promotional strategies which are undertaken by company is sound.
Further, company has highly skilled and competent workforce who has ability in
relation to performing work more effectively and efficiently. Thus, by performing the
business activities and functions with the help of talented workforce company can enhance its
brand image and profitability aspects (Ellis, 2016). Besides this, latest technological aspects
have been undertaken by firm with the aim to achieve success in the competitive business
environment. Hence, by using propos Dance show Live Ltd can attract more viewers towards
show. Hence, by keeping in mind all such aspects it can be said that strategic and policy
framework employed by firm is sound.
TASK 2
Recommending appropriate actions to overcome the weaknesses
In order to build and sustain competitive edge over others Dance Show Live td is
required to convert weaknesses into strengths. By this, company can attain success to the
significant level. Hence, by taking following actions weaknesses can be mitigated by firm in
an effectual way:
 Maintenance of relationship: Dance Show Live Ltd needs to make focus on
maintaining effectual relationship with vendors. Moreover, without having widened
reach company cannot gain competitive edge over others. In the initial stage, business
unit has provided dance lessons to people through the means of You Tube videos.
Hence, company needs to approach to top vendors who are ready to broadcast dance
show on their TV channel (Smith, 2016). Usually, some TV channels are more
popular which are seen by large number of people as compared to others. In this
regard, by approaching to such channels firm can maximize its revenue and profit
margin.
 Review of competitor’s framework: Lack of proper experience in such industry is
another main weakness of Dance Show Live Limited. In this, to overcome such

weakness company is required to undertake and evaluates the strategies and policy
framework of other successful dance reality shows (Barber, Metcalfe and Porteous,
2016). This in turn develops better understanding of company in relation to type of
changes that require in the existing framework.
 High focus on promotional activities: Dance show Live Ltd requires to lay more
focus on promotional aspects. Company has built up high reputation by uploading
videos on you tubes. Hence, still business unit requires to also placing images of
dance shows on social networking sites such as Facebook, Twitter etc. Moreover, now
frequency in relation to making use of social sites is increased among the people of all
age group with the very pace (Klapper, Biga-Diambeidou and Lahti, 2016). Along
with this, now people take more interest in the dancing reality shows. In this regard,
by developing awareness among the customers business unit can enhance its audience
and profit level to the large extent.
Analyzing the ways in which existing performance can be maintained and strengthened
For attaining success company needs to make effort for maintaining and strengthening
and its current performance level. Hence, by taking into consideration the below mentioned
aspects company can improve and maintain performance level to the great extent:
 Dance show Live Ltd needs to make focus on reviewing and developing better
understanding about changing accounting rules and regulations. Moreover, there are
several areas which offer high tax gain or benefits to the firm (Chell and et.al., 2016).
In this, by doing activities accordingly company can exert control on expenses and
thereby enhance profit level to the large extent.
 Further, business unit needs to make focus on organizing training and development
session for developing familiarity of personnel with latest technical aspects.
Moreover, there are several props and animations are used by dance shows to grab the
attention level of people. In this way, by enhancing the potential and competency
level of personnel Dance Show Live Ltd can make its show more popular.
 For enhancing the reputation Dance show Live Ltd needs to invite celebrities in its
show. Moreover, people prefer to see dance shows where celebrities act as judge.
Along with this, company also needs to organize theme based shows for attracting the
large number of customers (Shaw and et.al., 2016). Moreover, different themes
develop the interest level of both existing and potential viewers to the significant
level.

 Besides this, by doing porter five force Dance Show Live ltd can get information
about competitive rivalry as well as bargaining power of buyers and suppliers. In
addition to this, such tool also helps company in evaluating the threats from substitute
service provider and new entrants. Hence, by assessing all such aspects company can
develop competent framework for future and thereby would become able to attain
success.
Suggesting areas for business expansion
Expansion planning or practices are highly required for the maximization of both
productivity and profitability. In this, company can survive in the competitive business arena
only when it expands business operations and functions by grabbing the opportunities that are
available in the market. Hence, Ansoff matrix is the most effectual too which in turn helps in
making suitable expansion decision. Penetration, diversification, market and product
development are the main four quadrants which in turn helps company in expanding the
business operations in an appropriate manner.
Diversification: There are mainly two kinds of diversification namely related and
unrelated. Hence, by employing related diversification strategy Dance Show Live Ltd can
expand its business. Moreover, low level of risk takes place when company operates in the
similar industry (Ketokivi, 2016). For instance: By making small budget film company can
enter in the film industry. In this way, by entering in the film industry company can improve
its brand image. Moreover, usually customers are encouraged to view the film of their
favorite producer. In this, sales revenue of firm can be increased to the great extent.
Market development: By developing the new market for dance shows company can
enhance its customer base and thereby monetary aspects (Klapper, Biga-Diambeidou and

Lahti, 2016). For instance: By broadcasting such show in different languages Dance Show
business unit can widen its reach.
Hence, by employing both such strategies company can make improvement in its
financial and non-financial aspects.
TASK 3
Giving an assessment of business objectives and plans
Each and every activity of the business need to be taken to
operate effective functions within Dance Show Live Ltd. In this context, they can easily make
high profits and effective results through operate various functions. They can motivate and
satisfy customers through generates high revenue through operating various activities
(Vanevenhoven and Liguori, 2013). Hence, they can easily lead with various management
activities through generating high profits at workplace. However, in this time the cited firm
needs to make plans followed by company. Following are elements include in to make
effective plan at workplace:
Creativity and innovation: In order to maintain business operations, Dance Show Live Ltd
needs to make creativity at workplace (Bridge, 2013). In respect to this, they can take roles
and responsibility for overcome business issues within the business environment. Hence, the
cited firm can easily lead with management at workplace. With taking company conditions,
the cited firm can make high profits and effective results. Hence, they c an lead with different
operations and business functions. In this aspect, they can easily make effective results at
workplace through innovation (Wilson and Post, 2013).
Honesty: Dance Show Live Ltd has various objectives to operate their functions in effective
manner. In respect to this, workers and clients need to make loyalty towards the company.
Hence, it can attain to the best quality products and services at workplace (Peters and
Naicker, 2013). It will also assist to manage business functions and operate activities and
actions to select various activities at workplace. In addition to this, the firm can easily
develops positive outcomes at workplace.
Training and development: In Dance Show Live Ltd plan, need to give proper training to
their employees to operate effective functions. In this aspect, they can take positive outcomes

and effective results through operating business outcomes (Greene and Greene, 2014). Hence,
the business can achieve their targets and profitability within the business environment.
Reviewing business plan and suggesting areas where changes are needed
Dance Show Live Ltd determines their profitability to operate
business functions. In order to make plan, the cited firm need to make high profitability and
effective results through generates high values. In this aspect, they have to overcome business
issues to operate effective functions (Kerlin, 2013). Hence, the firm can support to their
functions in effective manner. Following elements includes in current business plan to
operate effective functions:
 Bringing alteration: To change in plan, Dance Show Live Ltd needs to make effective
results. They have to make profitability they have to develop business outcomes and
their results to generate effective outcomes (Dimitratos, Liouka and Young, 2014).
Hence, they can make changes to operate effective planning to operate various
operations at workplace.
 Developing international contracts: To gain competitive advantages, Dance Show
Live Ltd can make their contract with international business. In this context, they can
take high revenue and positive outcomes to generate goodwill at workplace (Storey,
Keasey and Wynarczyk, 2016). Thus, they can take positive results to make and
generates effective results. In addition to this, it assists to create global recognition to
operate functions.
 Permitting physical footwalls: Dance Show Live Ltd need to develop their plan to
make physical stores at workplace and various parts. It will assist to generate high
revenue and profitability within the market (Legg, Laird and Hasle, 2014).
Preparing an action plan to implement the changes
With changes in workplace outcomes, Dance Show Live Ltd
needs to make changes in their existing performances. Hence, they can lead with various
aspects of the business through generate high revenue. The cited firm needs to make plan to
prepare and execute to achieve objectives and goals (Murphy, Murphy and Leonard, 2016).
They are as follows:
Factors Action
Setting objectives The first step, to implement changes Dance Show
Live Ltd needs to make effective plan. In this

context, the cited firm establishes their goals and
targets to attract various customers. In respect to
this, they can also take positive environment at
workplace to attain business targets (Bakar,
Mahmood and Ismail, 2015).
Determine advantages and disadvantages Once the cited firm determine their objectives,
they have to make plan to develop business
functions in different areas. In this context,
Dance Show Live Ltd requires to assess positive
and negative impact on the business operations
(Peters and Naicker, 2013).
Assessment of priorities of jobs After determine positive and negative impact, the
chosen enterprise need to make priorities for each
and every job at workplace. Hence, they can
easily lead with management and outside areas of
the company. To manage positive results at
workplace, Dance Show Live Ltd have to assign
job to their employees according to qualification
and interest areas (Vanevenhoven and Liguori,
2013).
Human resource management It is very essential to manage business functions
through human resource. Thus, Dance Show Live
Ltd need to motivate their employees to generates
high revenue and profitability at workplace. In
this aspect, every manager of the firm can assess
roles and responsibility towards their members
(Storey, Keasey and Wynarczyk, 2016).
TASK 4
Assessing the impact of proposed changes on business and its personnel
There is several changes in the firm, which assist to protect and
generates positive impact on the company. Thus, they have to make different changes to
make positive environment. They are as follows:

 Enhance revenue at workplace: Proposes changes take place in Dance Show Live Ltd
aim to enhance profitability at workplace. Hence, they can assist to attract potential
customers at workplace (Storey, Keasey and Wynarczyk, 2016). Thus, the company
can make high sales through they can attract customers and increase revenue within
the enterprise. The chosen organization can easily make high results and positive
results within the firm. Further, it creates effective working environment for the
business.
 Worldwide acknowledgement: Through proposed changes, Dance Show Live Ltd can
make effective functioning. It will assist to generate positive results to acknowledge
worldwide (Dimitratos, Liouka and Young, 2014). They can attract various customers
and enhance market share price and increase goodwill. International policies also take
important place which make effective results within the firm. Hence, they can attract
various customers to make worldwide acknowledgement to generate positive
outcomes and enhance profitability. The company can take responsibility to measure
business performances and profitability to make effective results (Storey, Keasey and
Wynarczyk, 2016).
 Increase goodwill: Further, Dance Show Live Ltd can also enhance their goodwill to
take positive decision and effective results for making and taking positive outcomes.
Hence, they can easily make goodwill to determine effective results and profitability.
In this context, they can easily attract various customers and achieve their targets.
When goodwill is increase, customers can easily attract through various operations
and business profits. It will assists to make high profits at workplace targets (Bakar,
Mahmood and Ismail, 2015).
 Individual acceptance: In order to make profitability, the cited firm take initiatives for
each and every individual through accept every member participation. Hence, they
can easily lead with profitability and generating high revenue towards the business
operations. Further, they can enhance operations through invest more money in
different areas (Dimitratos, Liouka and Young, 2014). Thus, Dance Show Live Ltd
can easily take responsibility to measure their business performances and profitability.
Preparing an plan for the management of changes
For Dance Show Live Ltd, it is very important to implement
changes to make high profits and effective results. Hence, they can make profits in high
amount and take responsibility to overcome business issues areas (Vanevenhoven and