Small Business Enterprise

Small Business Enterprise

Contents

Introduction

Business is the most important element that helps to increase the national income. Based on the structure, there are three kinds of the business. Among the classification, small business is important because of the area. Anyone can organise the business easily without hindrance. Here a person gets chance to apply his innovative idea. Among many small businesses, 4Com Plc is the common small business that found in UK which operates itself effectively. Numerous service and popularity about service is the main tools for gaining the increase level of profit. Being small in structure, the HRM and Financial sector do not organize the business as well as they want. The problem of organization problem can be mitigated with the help of effective management. There are find some advantages from competitor because it helps to develop new product and idea. 4Com Plc is the local business but having customer loyalty, demands of product have all over the country. The demand is also found in international market. The demand becomes high due to low costing with high qualities of product. The owner manages the business in planted way that is way the demand has created.  The product line development is the arena of concentration.

TASK-1

Small business has all over the world more or less in specific area or country. The main characteristic of the small business is the number of employee and capital is limited. The employees are the indicator of various types of business. Business size is depending on employee size. Small business has particular facility that is why people has soft corner to build this business.

1.1 Business profile of 4Com Plc with its strengths and weakness

4Com Plc profile being small business

        i.            Name of Business: 4Com Plc

      ii.            Leading Country: UK

    iii.            Head Office: London

    iv.            Number of Employees: 150

      v.            Started:  1999

    vi.            Types of services:  Telecommunication service.

  vii.            Contract:  Tel: 0844 880 3991
                 Fax: 0844 375 3200.

Strength of 4Com Plc

4Com Plc is the popular company that main service is telecommunication based in UK. Every company has little Strength that is positive for business and little negative aspect that is known as weakness. The strengths of 4Com Plc are given below-

v  Variation of services: Being a part of telecommunication business 4Com Plc has given many service to their customer. The main area of their service is to numerous handset, software of the phone, firmware, flash, equipment, online billing, call recording, proxy server, VOIP services and so on that have direct link to its nature(Telephones.expertmarket.co.uk, 2015).

v  Number of customer: The exact number of customer can be noted difficulties but approximately we can say that a lion shear customer takes our service. In UK, there are about 7000 regular customer who achieved platinum membership and 80,000 people directly or indirectly takes the facilities of its services.

v  Price of product: The price and the quality is the main myth of this business. For quality and price, it competes to all the existing business in the arena. Many small businesses have large working area but 4Com Plc becomes the top position due to its solid structure.

v  Loyalty and quick service: The customer is the main asset of the business. Our customer loyalty is very high with taking limited time consuming. We provide best service and there is no or less system loss.

Weakness of 4Com Plc

Every company has little Strength that is positive for business and little negative aspect that is known as weakness. 4Com Plc has few problem that brings weakness that are given below-

v  Size of business: The size of business is small where works less than or equal 150 employees. When the business size becomes small than various services do not organize properly. The main fault of the business is structure.

v  Capital management: The small business has less capital such our business capital is low that impact on expending the structure of the business. Different innovative idea becomes useless due to capital (Hodgetts and Kuratko, 2008). Capital management becomes weaken. But improving planed work and proper managing the capital management can be effective.

v  High cost of management: The managing cost of the business is very high. So it impacts on the business profit. The best management takes much more cost than others. It impact on the total business services.

v  High employees' turnover:  As a popular business, 4Com Plc employee’s turnover is seen previous year. The HRM has been concentrated to this issue. HRM is directly affected to this fact and it becomes a major problem of HRM. About 27% people have been moved at the level of regular worker (Telephones, 2015).

1.2 Analysis of 4Com Plc performances using comparative measure of performance

The method of performance comparative measures of 4Com Plc is the explanation of different technique that is the helpful for measuring the success of the organization. Our company, 4Com Plc is popular as the telecommunication service provider that has loyalty to the general people. That is why the company exist in the competitive business world strongly. Most of the people take it due to its high quality and quick service providing. Those are the basic capital for the company. Strategically performance of management is the way of success of the company. The time management is concentrated issues of the company that is desirable for all customers. The price of the service is low that is not found to another business strategies (Bridge and O'neill et al., 2010). This factor is unbelievable to present competitor. The main concentrate of the company is to regular customer rather than casual customer because it helps to increase profit quickly. When another existing company promotes offer like price cutting, then our company give more promotion offer or home delivery service which brings lose for some time but would take profit for next time. The strategies about price are not same as other company. Due to taking strategies, it capture whole market customer. The other company concentrate to the single product which is not fruitful but our company developed or concentrate more than one product at a time. In the performance management, we use modern technology for being success. SWOT analysis is the important tools for measuring performance. Bench marking of the product is also considered in competitive market. Organizational trend on developing the number of product is the measurement of the procedure (Lee-Ross and Lashley, 2009). 4Com Plc promoted new product for promoting level of performance.

TASK-2

To manage a business there are different problem has been faced in various time. The problem has been come in different time in an organization. By solving problem the business has been expended. Such 4Com Plc has faced few problems that have to be solved. These problems have been given below-

2.1 Essential recommends actions to overcome weakness

There are few problems that can be solved through these processes.

ü  Employee's incentive and train to reduce turnover: At present the rate of employee's turnover has been increased tediously that is not expected. In our organization 27% people turnover which makes the haphazard situation in organization (Frisendal, 2012).  To solve the problem, we make the incentive fund to minimise the turnover rate. Various motivating acts assure the rate of lessening the turnover rate. We also take decision to training facility to the employee to reduce the amount of turning over.

ü  Mitigating Finance crisis: Our business faced various problems. Among of the problem the financial problem is critical. The problem is much more string on developing the product. In develop product line financial restriction is also found. The source of finance is related to the profit of organization. So 4Com Plc has crying need to make sure a source of dependable management scheme.

ü  Arena of development and promotional activities: In organization, there are few rules and regulations in management process. Organization requests to take large area of development (Hiott, 2012). Here the product line would be developed.

2.2 Existence performance management system and Strengthened 

Existence performance of 4Com Plc may manage and strength in following ways:

v  Customer's relation: most of the time success of business depends on customer's relation among different factors of the business. Such 4Com Plc has good customer relation. Good relation increases sales of the organization that is responsible to make higher profit (Abramowicz, 2007). Numerous handsets, software of the phone, firmware, flash, equipment, online billing, call recording, proxy server, VOIP services and so on are the main are of service of the organization that exists in competitor market. So good customer relation is necessary for business strength management.

v  Technological Development: Maximum success of such type of business is depended on technological improvement process. Telecommunication is the business that has close relationship with technology. 4Com Plc developed the entire product with the means of their strength using new technology. There are many important strategic techniques that suggest developing technology (Telephones, 2015).

v  Feedback and objective measurement: Collect Feedback from customer and staff is important to measure the present situation of the business. The feedback gets from evaluation of regular activities. It helps to correction the weakness of the organization. The outcome of it is standard organization. Analyse process can maintain proper position of the organization.

2.3 New area of 4Com Plc business expansion

The area of 4Com Plc is including in UK of small portion. Area is important for managing business or organization success. The organization works its operation in simply a few urban communities of the UK however its operation can spread everywhere throughout the nation. Essentially there is a standard interest of its administrations in neighbourhood minimal effort draw in high rate of clients. In addition operational expense of the business in neighbourhood low (Sparrow, 2009). So the operation can guarantee more income for the organization. This association can spread its operational territory in Scotland, Ireland, Wales and their each nearby city. This zone will move the business association to advance its operation. In the wide setting, the business set its wide target and slowly spread in the Western Europe for the business execution. In the most European business sector will help the business to cover an extensive business sector zone. In addition, 4Com Plc ought to enhance their administration elements lastly offers some new elements. 4Com Plc has more than 20 administrations for their clients in diverse urban areas however the quantity of administrations must be enhancing as indicated by the item request (Abrams, 2009). Business mobiles and telephone framework administration have popularity in the nearby market of the UK and its diverse state. Like home nation, internet charging, broadband administration has fast request in the most nations of EU which is extraordinary open doors for the association to deal with its aggregate operation administration.

TASK-3

Business plan and objective management is important to be success in the hosting area. Mainly the success of business depends on the planning phases and objective setting of the organization.

3.1 Assessment of existence business plan and business objective

4Com Plc maintains business with the consumer's satisfaction and the area of expending is local area. Day to day the demand of the business has been increased due to better service. The quality with low costing is the cause of customer satisfaction. Being small business it operated its business with small manpower from the stating. Mainly the arena of business is small and confided (Barrow and Barrow et al., 2012). The business plan was based on small capital management. The starting amount of the business was confused about little level of money. Be that as it may, the things have changed a considerable measure at present time. Presence strategy for success has a little wellspring of business operation administration and business augmentation. The administration advancement and administration don't get much significance in this segment of the business operational range administration. Besides the target setting of the business was to make a nearby business organization by keep up neighbourhood clients (Businesscasestudies, 2015). Company and huge volume clients were not the prime objective and in addition target of the business association. To amplify benefit from a neighbourhood was prime worry of the 4Com Plc in past. The arrangement and goal of the business was all that much fitting in the past however the thing has changed at this point. The opportunity has already come and gone for the business association to update its marketable strategy and business objective for vast business administration.

3.2 Business plan revision to cope with changes

Changes are the way of the universe and business world face this progressions all that much in corporate with time skyline. 4Com Plc has additionally confronted the essentialities for the modified its arrangement and additionally objective for business change. Essentially the business changes three fundamental piece of their arrangement.

 At the first stage, the business assures the business plan is not based on small perspective rather than broad perspective in business context. The business area has to be expended to all over the national boundary and internationally. The demand of the product in national marker as well as corporate market demand has been considered.

In the second stage, the organization revised its monetary arrangement and target. Expansive business territory requires a lot of cash for the business exercises. The wellspring of the account in this time must be higher than the past business structure. At that range and in addition structure was for quite a while. Here new updated arrangement will for high time operation administration.

HRM plan revision is another vital arrangement modification for the business association. 4Com Plc surely confronted that circumstance for the strategy for success administration. The association has high rate of worker's turnover in late time (Smallbusinessopportunity, 2015). It for the most part happens for less consideration regarding the workers. Workers normally merit motivating force for the high business execution. Representatives preparing are likewise imperative for this vast number of worker's administration. Huge arrangement of HRM will expand adequacy of the authoritative achievement.

3.3 Action plan to implement changes

Action plan consists means the actions of organization for reaching goals. The goal of business has to be precise and the aim of the business has emphasis on the goals of the business (Ctb, 2015). 4Com Plc has certain steps in action plan for management changed that is given below-

v  Task Identification:  The primary step of formal action plan is task Identification. The undertaking of 4Com Plc is to guarantee it development and additionally advancement everywhere throughout the nation. The region of business will likewise increment in EU's nations. These categorical warnings are the fundamental undertaking of an activity arrangement.

v  Analysis the task and goals: Here, one surely appropriately examination the assignment of the arrangement and objectives of the business. The danger partner with the business extension and its fund administration must get top need inside of the association. This examination surely guarantees business accomplishment inside of the presence workers of it.

v  Taking actions and implement changes: At this stage, organization will apply activities arrangement inside of the association. The execution of the arrangement manages the business planning for to oversee future stream for it. Enlist the fundamental target of activity arrangement of this association is to keep up association development inside of the correct range.

TASK-4

The system of changing of the business has particular impact on business and the management system. 4Com Plc hosts many strategies to reach the goal of the business as small business organization.

4.1 Proposed changes impacts on the 4Com Plc and its personnel

The system of changing of the business has particular impact on business and the management system. The single changes of business impact on the whole structure of business. For this why, the changes of the business are important or future time (Small Business - Chron.com, 2015). In the new eliminated plan of the business of 4Com Plc has been suggested few plan for business as the tools of business extension. At the season of this change administration, business association unquestionably requires some additional asset for the aggregate procedure administration. Its operational exercises and operational administration framework will advance in an incredible number. There will be variety in the item and administration line of 4Com Plc.

HRM will confront the most critical effect of the procedure of proposed changed. The operational territory of the association will extend more workers will fundamental for that changed administration. HRM or staff administration branch of the association unquestionably assume more liability to preparing their representatives in light of the fact that there is a high rate of the worker's turnover in recent days (Small Business, 2015). Preparing expense of representatives will build however worker's devotion inside of the association will enhance through the framework.

4.2 Change management process

Change management process is the challenging work and here management failure means the whole management failure. 4Com Plc concentrated to the area of changing ensuring plan for management.

v  Primary step of 4Com Plc in changes management process is related to include most important staff that has directly relation to business operation. Every single person has to make out all the process of changing management basis on basic structure. PESTILE analysis may be considered to management process.

v  Communicate, include and offices every single conceivable people of the activity of the association. More individuals will guarantee its operational objectives; their exercises will simple to accomplish those objectives. Administration will bring obligation to speak with the general population of the conceivable range.

v  Comprehend authoritative pattern and individual position: The representatives at this stage will comprehend the hierarchical objectives and assume their parts as indicated by the objectives of the association. In the new range of the 4Com Plc territory administration, one gets his position unmistakably.

v  The revised plan has to be monitored carefully and concentration to correction if there is problem.

4.3 Performance improvement in given time-scale

The business has taken quite a while vision to deal with its target. The first target of the association is to keep up its business position inside of the nation and in addition outside of the nation. However, the circumstance is unrealistic I a day. Since each progressions of the business requires quite a while and after that specific time scale, business objectives will accomplished. Household market administration and spread a huge business sector will conceivable inside of a conceivable time. In the given time size of the business, it will enhance its product offering and incorporates some new item among the presence product offering (Telephones, 2015). In the following step, its representatives turnover circumstance will cleverly controlled. Very much prepared workers of the association will stay inside of the association for quite a while. The change in the work force administration inside of the association has enhanced in given time. The foundation as a bigger business association of the nation will take a few times however the improvement and also normal development will proceed for quite a while. After an effective asset administration 4Com Plc will guarantee its target.

Conclusion

Small business is same important as large business in economic development. Based on contribution in national economy of business, small business contributed much more. 4Com Plc is the mane of business that expends the local area so quickly. The details about company have been noted at the first point. Then the strength and weakness have been noted after details. The report also contains some of recommendation for business success based on change management. Then the position of the business and basic requirement of business has been noted. Finally, management policies for adopting for changes have been noted with improvement policy.  

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