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H/601/1098 | Unit 33-Small Business Enterprise-BTEC HND in Business Module-Level 4

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Introduction

Small business organisation demonstrates their operations at very low cost. They are contributes major part to attain competitive advantages. Economy has various benefits through operating small business functions (KarataşÖzkan and Chell, 2015). This is because; it enhances GDP growth of the nation, which results in economic growth. The report is based on Swing petroleum UK, which is privately owned. They perform functions for Dragon Den shows.

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For assessing strength and weaknesses of the business, report covers activities and operations, which carry for ascertain effective results. Furthermore, it also evaluates financial performance, which will assist in competing with various organisations. Moreover, it provides recommendations and strategies to maximise chosen business performance to make successful operations.

TASK 1

1.1 Produce profile of the business

  • Business name: The cited firm is Swing petroleum UK, which is privately owned and regulates functions with various investors.
  • Owner structure: Investors of the business are operates functions and operations that are maintains profitability and resources at workplace (KarataşÖzkan and Chell, 2015). They perform functions by providing fund to the company. Hence, it assists in operating smooth functions and operations.
  • Background/ history: The Swing Petroleum UK incorporated on May, 16 2006. It is a registered business, which operates functions with developing ideas and opinion. They provide qualitative products and services that assist to make long term targets and operations (KarataşÖzkan and Chell, 2015).
  • Location of the company: The chosen firm is located in Hope Cottage, ox, Stroud and UK.
  • Strengths: The company is specializes their products and services with manufacturing and distribution of article that make plan at workplace. In addition to this, Swing petroleum UK provides effective services such as material and wood, etc.
  • Weaknesses: The chosen organisation has limited access to enhance operations and productivity within the marketplace (Alshamaila, Papagiannidis and Li, 2013). Further, capital of the business is very low so that they are unable to meet with high revenue and profits. Low debt level at workplace decline organisation performances.
  • Mission: Swing petroleum UK has mission to target large part of audience. It can be done when they are offering high quality products and services. At the best value they want to provide products and services so that they can easily meet with high quality of products and services (KarataşÖzkan and Chell, 2015).
  • Vision: Swing petroleum has vision to make successful brand and operations in all over the world with establish new physical and online stores.
  • People: Within the company various people are working to achieve goals and objectives. Jonathan Charles and Katharine Sarah are very important persons who take part to continuous monitoring on business practices (Brunswicker, and Vanhaverbeke, 2015). They are successful make operations at workplace.

1.2 Business performance analysis with their competitor

Every business has purpose to operate functions and operations with high investment at workplace. It will assist to generate high profits and revenue at workplace through operating functions and operations. With the help of turnover of goods and services, Swing petroleum can make high competition within the marketplace (Linzalone and Lerro, 2014). Within the market, Charles Cantrill Ltd. is major competitor of business, which provides different types of products and services. In order to measure business performances, various ways take place. It will assist to create profitability at workplace. Therefore, it can determine within the following ways:

 

Swing petroleum

Charles Cantrill Ltd.

Turnover

 

Absolute changes

Decrease and increase

 

Absolute changes

Increase and decrease

2011

2450

-

 

2300

-

-

2012

2700

250

11.11%

2540

240

11.43%

2013

3060

360

14.40%

2680

140

5.98%

2014

3500

440

15.38%

2650

970

39.11%

From the following analysis, it can be assessed that Swing Petroleum company grow their operations very effectively. Their revenue are continuously enhances which make high profits and positive outcomes. As compare to Charles Cantrill, the cited firm performance is very effective so that they are easily captures whole market in effective way. Apart from this, the company need to focus on various parts of small areas in which they can operate functions and operations in effective manner (Clark and Douglas, 2014).

As per the following analysis, gross profits of the business can also ascertain at workplace, which determines high profits and revenue:

Year

Swing petroleum

 

Charles Cantrill

 

Gross profits

Ratio

Gross profits

Ratio

2011

1000

35.56%

740

23.00%

2012

1170

38.80%

830

27.00%

2013

830

22.00%

1220

41.00%

2014

1260

33.00%

1480

38.00%

From the following analysis, the chosen firm can develop their market through provide effective products and services. It will assist to make positive advantages through different activities and operating functions (Dennis Jr, 2011). In 2013, Swing Petroleum UK cannot expand their operations and positive results. Beside this, Charles Cantrill also enhances their operations and revenue through they can easily capture whole market.

TASK 2

2.1 How to overcome weaknesses provide recommendations

In respect to perform effective functions, Swing Petroleum need to overcome their weaknesses. It will assist to perform smooth at workplace. In this way, the company has opportunity to use different strategies through they will make support to each decision, which determines for success of the company (Burns, 2010). In this aspect, recommendations can be made on the following strategies:

TOWS matrix

 

Strengths (S)

Weaknesses (W)

Opportunities (O)

SO strategies

The chosen company is providing various products and services with effective quality so that they have opportunity to expand their operations and outcomes in different market segment (Alshamaila, Papagiannidis and Li, 2013).It will assist to Swing to achieve their goals and objectives through gain competitive advantages.

WO strategies

Swing petroleum operate functions in different part of world so that they have opportunities to make economic changes with control cost and enhance revenue.

Threats (T)

ST strategies

In these types of strategies, Swing petroleum can make high reputation of the business with wide audience and managerial skills (Rainer, Cegielski and Sanchez-Rodriguez, 2013). As results, it assists to minimize risk elements, which threat for company.

WT strategies

The cited firm has also advantages to make strategies with minimize cost and pricing policy. In this aspect, they can easily expand operations and reduce weaknesses at workplace.

2.2 Ways to maintain exiting performance

At present, the Swing Petrol is conducting many corporate events and many more events such as one day dance show along with many other dance shows. Entity is also offering different types of services such as swing dance, gym and workout. Firm is also offering effective with joyful music (Alshamaila, Papagiannidis and Li, 2013). There are many ways that firm can improve its presents performs.

Online availability: Swing petrol is also offering it services through online presences. There are many ways that can be use by firm for offering its services. The company is already has sold over 5000 copies and also they are expanding through its business through e commerce. Swing petrol is also trying to conduct many others workshops through its online network (Brunswicker, and Vanhaverbeke, 2015). Entity can also add mobile application, which helps to their customers to assess their classes online. For maintaining its present performance through online class they can also conduct more classes.

Huge Network: Swing petrol is conduct huge network of different types of services. Firm is offering the dace classes to their customers along with this they are also offering various packages which helps to individuals for create unique corporate events (Ismail, and King, 2014). They are also planning to organizing the fitness programs and swing initiatives for senior citizens. Company is make collaborations with many brands, which includes oasis and keds.

2.3 New area of business

Swing petrol is offering is mainly provides is services in UK only. The geographical area of organization is limited to UK. After making, collaboration with oasis and they are trying to develop their markets across the country. For expanding its business they are continuously hiring new dance teachers. Based on cupit's love of swing, the business has achieved several milestones in last two year (Cowling and et.al., 2015.). However, entity's geographical area is limited to only UK and they are offering only limited numbers of dance classes to their customers.

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New area of business for organization is Europe and some Asian countries. In those countries many corporate events are conducted and they are only few entities who offers dance classes. For expanding its business these geographical are is more suitable and they can easily maximise their services along with their profits.

For enlarging it services Swing petrol can also new dance style. At present the entity is offering only limited numbers of dance styles which includes, Lindy Hop, solo Charleston and Blues (Chitura, and et.al., 2015). For adding more customers in business it is important to more services in its business. Adding more services assist to Swing petrol for expanding their business and ensures long term growth.

TASK 3

3.1 Assessment of exiting business objectives and plan

Business objectives of the swing petrol is offering the best dance classes to its customers along with quality. Entity makes collaboration with many other international firm such as oasis and kids. Organization has the largest number of dance teachers. Firm have more than 1200) dancers and troupes across the UK (Lee, 2014). They are also focusing on conducting online classes for their customers so they can expand their business activities. For developing their business using advance technology and launching its own e-commerce so they can add more customers in its business. Swing Petrol makes collaboration with oasis and keds so they can take advantages of competitive business. Another business objective is to add more well trained employees for its business.

At present entity is facing high competition in UK market as there are many organizations, which are offering similar nature of services (Alshamaila, Papagiannidis and Li, 2013). After the collaboration, with oasis and kids they can offer their services to outside of the UK and gain more customers in their business. The company is also trying to develop its own research and development which assists to them for developing there different types of dance techniques so they can offer value services to their customers. Another business plan of firm is added more well trained teachers in their teams so they teach different dance forms to their customers.

3.2 review of business plan and new area of changes

Business plan of Swing Petrol is to develop its activities through use of its e-commerce venture. Technology advancement helps to entity for enhancing their market share. E commerce ventures helps to them for create more customers satisfaction (Brunswicker, and Vanhaverbeke, 2015). Another business plan of the entity is to hire more well trained teachers who can teach different technique of dancing to their customers.

Online venture: Swing petrol is offering their services through online business. The entity has created its own web page through which they are offering their services to its customers. It today's world technology changes in more frequent way and its also effects on the entertainment industry. Many organizations are using different types of technology for delivering quality services. For running an online venture add extra costs in operations but in long run it helps to entity for add more value in their services. Customers like to use of new technology and this technique assists to entity for providing its services beyond to their geographical limits.

Add more well trained employees: At present the company is offering only limited numbers of services to its consumers. Awing petrol is make collaboration with many other international entities such as oasis and kids so they can offer gain expand their markets in their region (Jamali, Lund-Thomsen, and Jeppesen, 2017). They can also develop its own mobile application through which they can assess more customers. The entity is planning to hire more well trained workers through which they can offer more services to their customers. By hiring more well trained customers they gain customer's satisfaction and loyalty.

3.3 Action plan to implement changes

Action plan helps to entity for making and developing their future strategics. Through this action plan they can also implement of changes (Ismail, and King, 2014). Swing petrol is planning to expand its services through its online ventures and hire more well trained workers in its business. Entity develops certain changes and for implementation of changes they develop action plan.

ACTIVITY

TIME FRAME

TARGET

MONITOR

Online venture

2 year

For assessing more customers

Done by the IT department

Hiring new employees

1 year

For providing more services through its classes

It is monitor by the HR departments

In the action plan of Swing entity they want to expand their online ventures which assist to them for assessing more customers in long run. The aim of expand of business outside of UK. Implementation of this change the firm is to making its own IT department so they can easily monitor their online activities.

Another aim of this action plan is to hiring new employees within entity so they can provide extra services to its customers. The HR department of entity is using different polices so they can make their practices more effective.

TASK 4

4.1 Impact of proposed changes

Some of the, specific business changes proposed for Swing Petrol for expanding their business activities beyond their geographical area of the UK and use of technology in their current systems (Chitura, and et.al., 2015). Use of advance technology helps to company for assessing more customers in it business. But or making implementation of this change entity need to hire IT specialists which helps to them monitoring their online ventures along with this it also needs to develop certain strategics so they can target easily. Hence, to expand business has direct impact on entity financial positions. It also creates different type of uncertainties and risks. Moreover, for develop its online venture they require recruiting more new employees who can hold technical knowledge in their respective fields (Cowling and et.al., 2015.). It also requires developing their own IT department, which directly add more operational costs in business.

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On the other hiring new employees for expanding business create positive impact on sales. Considering the facts in that business in based on services industry so it is important for organization to offers value services to its end users. It improves performance of entity and also improve their brand image. The involvement of new employees in Swing Petrol helps to firm for offering different types of services and gain their trusts.

4.2 Management of changes

It is known fact that any changes in the business tends to have impact both on business as well as on employees working on it (Asplund and Blacksmith, 2011). Hence, in the event of Swing Petrol accepts the expansions plan outside the current target market then it would require to undertaken the following tasks. The management need to conduct market research in order to target market and also to understand the needs of customers.

  • After conducting market research, on the basis of that research the have to select more appropriate strategy which assist firm for achieving their targets.
  • Once, the decision has been made in respect to the target market, a specific strategic plan is required to be developed describing the manner in which expansion is required to be undertaken.
  • The sources of finance shall be ascertained and all the concerned arrangements shall be made (How To Use Your Strengths To Overcome Your Weaknesses,2015).
  • Along with entity also make informed to their workers regarding to their plan and also training shall be provided to their workers who shall be working for the new target market, or make recruitments.

Similarly, if the Swing petrol decides to introduce technological advancements, then it shall require to

  • All the workers likely to be affected by changes in technology shall be provided with training in order to make them hem learn everything about the newly introduced changes.
  • The technological advancement shall be promoted in the market so as to inform the customers about specific benefits they are likely to realize with these changes.

4.3 performance of Swing Petrol in over the past two years

Swig petrol is corporate entertainment organization. On of the major changes which the company undergone in the year 2013 in entity make important changes for their online ventures. On the basis of cupit's songs of Swing entity has achieves several milestones in last two years such as breaking a Guinness world record for the largest Charleston (Rainer, Cegielski, and Sanchez-Rodriguez, 2013). It is published in many new papers which shown that entity enhanced its performances in last two years. Another achievement which receives by entity is to make collaboration with oasis and kids. Through this collaboration firm is able to manager their activists at international level as well.

The company adopt advanced technology, which is to quality in their services. With the help of online venture entity become more efficient for serving the needs of their customers as per their requirements. It has assured to address the needs and preferences of each and every consumer who visits the site. In addition, the employees of the company is become more well trained and assists to enterprise for achieving their targets (Alshamaila, Papagiannidis and Li, 2013). Hiring employees who are belongs to different background helps to them for adding more services in their business. Hence, in past two years firm accomplish long and extremely interesting journey by making a team of 12000 employees.

Conclusion

Supping up the above report it is concluded that developments of business is important to improves performances. Swing petrol is offering it services in entertainments industry. The company have well trained employees and build a team of 12000 workers. Firm activities are limited to only geographical area of UK. Swing petrol is offering its services through its online venture and taking further steps for developing its own mobile application. With the help of technological advancement they can attract more customers in its business. However, the firm is facing many problems for providing services through its online platform. They are trying to develop their own IT department so they can make their virtual presences more strong.

References

  • Alshamaila, Y., Papagiannidis, S. and Li, F., 2013. Cloud computing adoption by SMEs in the north east of England: A multi-perspective framework. Journal of Enterprise Information Management. 26(3). pp.250-275.
  • Brunswicker, S. and Vanhaverbeke, W., 2015. Open innovation in small and medium‐sized enterprises (SMEs): External knowledge sourcing strategies and internal organizational facilitators.Journal of Small Business Management. 53(4). pp.1241-1263.
  • Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave Macmillan.
  • Chitura, T and et.al., 2015. Barriers to electronic commerce adoption in small and medium enterprises: A critical literature review. The Journal of Internet Banking and Commerce. 2008.
  • Clark, D. N. and Douglas, H., 2014. Micro-enterprise growth: Lessons from home-based business in New Zealand. Small Enterprise Research.21(1). pp.82-98.
  • Cowling, M., and et.al., 2015. What really happens to small and medium-sized enterprises in a global economic recession? UK evidence on sales and job dynamics. International Small Business Journal. 33(5). pp.488-513.
  • Dennis Jr, W. J., 2011. Entrepreneurship, small business and public policy levers. Journal of Small Business Management. 49(1). pp.92-106.Vorley, T. and Williams, N., 2016. Not just dialling it in: Examining cognitive-based approaches in enterprise education using a smartphone application. Education+ Training. 58(1). pp.45-60.
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