Small Business Enterprise: Improving Performance & Growth

Aim of the Unit

The aim of the unit is to give learners the opportunity to focus on the processes involved, through change management, of reviewing and improving the performance of a small business enterprise.
The unit is primarily designed for learners who are interested in small business enterprises and looks at the development and expansion of such businesses. The unit will be particularly appropriate for learners who are involved in small business enterprises. The unit is also appropriate for learners who have had work placements or work experience in small businesses and for learners who wish to pursue careers in the small business sector.

What you must do

You are required to fulfil the following four tasks in a business report format. Each answer must address the task, and provide an analysis supported by marketing theory.

Task 1

1.1 Produce a profile of your chosen small business enterprise (SBE). The profile of the SBE should identify its three SMART objectives, context and competition in which it is operating, strengths and weaknesses and key performance indicators/ measures. [P1.1]
1.2 Theory and practice has mentioned various indicators of measuring organisational performance (such as financial profits, ROI, market share, customer satisfaction, employee motivation, operations quality, flexibility, speed and cost indicators and so on). Carry out an analysis of your SBE using any three different comparative measures of performance. Use appropriate theories to support your investigation. [P1.2, D1]

• To achieve D1, you will have arrived at the conclusions on the impact of the proposed changes on your SBE through synthesis of ideas and which would have been justified as well

Task 2

2.1 Based on the findings in Task 1.1, recommend with justification, appropriate actions to overcome the weaknesses in your SBE you identified. [P2.1, M1]
2.2 Based on the findings in Task 1.1, and 1.2, analyse ways in which existing performance of your SBE could be maintained and strengthened. [P2.2]
2.3 Ansoff’s matrix discuses four areas of business expansion and growth. Based on the findings in Task 1.1, and 1.2, recommend with justification, any two new areas in which your SBE business could be expanded.  Use appropriate theories to support your analysis. [P2.3, M2]

• To achieve M1, you will have made an effective judgment when analysing ways in which existing performance could be maintained and strengthened in your organisation.
• To achieve M2, you will have used range relevant theories to recommend appropriate actions

with justification any two areas in which your SBE business could be expanded.

Task 3

Following completion of the first two tasks, you now have a clear picture on how your SBE could develop further.
3.1 Produce an assessment of existing business objectives and plans of your SBE. What are good and bad points in the existing business objectives and plans of your SBE and why? [P3.1]
3.2 Based on your assessment in task 3.1, prepare a revised business plan to incorporate appropriate changes to overcome weakness of exiting plan. Use appropriate theories and business models to support these changes. [P3.2, Mp3]
3.3 Based on your revised plan in 3.2, prepare an action plan to implement the changes you identified in order to strengthen the performance of your SBE. Use appropriate change management theories and models to implement these changes. [P3.3, M3]

• To achieve M3, you will have applied a range of theories and techniques to develop and present the action plan.
• To achieve D2, you will have undertaken substantial activities and investigations to prepare a revised business plan to incorporate appropriate changes to overcome weakness of exiting plan.

Task 4

4.1 In the task 3, you have proposed some major changes in your SBE. Now write a report on the impact of those changes on the operations of your SBE and its personnel. [P4.1]
4.2 Plan how you would manage those proposed changes at your SBE. Use theory and examples to support your discussion. [P4.2]
4.3 Write a report, how you would monitor improvements in the performance on the operations of the chosen business over next two years. Use theories on performance monitoring and change management to support your analysis. [P4.3 D3]

• To achieve D3, you will have demonstrated effective thinking and creative thoughts in explaining how the improvements in performance in your SBE