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Unit 33 Small Business Enterprise Merit Assignment
Write an integrated report that completes all 4 parts of the task in the body, with an Introduction, Conclusion and Reference List using Harvard Referencing style. Within each part, there are some sub-parts. You should answer these sub-parts in an integrated way in paragraphs. For the purpose of the report, you have been provided with an opportunity to select an organization of your choice within a specific sector to help you frame your report within a specific context.
Purpose of this assignment
Small businesses are vital to the success of any economy. They provide the success stories of the future, stimulate economic growth and serve as backbone of creativity and production. However, small businesses are on a daily basis being confronted with a wide range of internally and an externally based problem which makes it mandatory for their managers to develop an understanding of how to apply effective turnaround business strategies to put their firms back to profitability. This underpins the learning outcomes of this unit which aims 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.
Learners are expected to approach a small business enterprise that is familiar and accessible to them and from which they can obtain relevant information that will enable them to carry out the tasks.
Unit 33 Small Business Enterprise Merit Assignment is to be carried out individually and presented in report format.
Task 1: Business Performance of a selected small business enterprise
Approach a small business enterprise that is familiar and accessible to you and from which you can obtain relevant information that will enable you to carry out the following tasks:
- Produce a profile of the selected small business enterprise (SBE), which among many other relevant components should include the inherent weaknesses of the SBE and areas where it demonstrates unique strengths in comparison to its competitors.
- Carry out an analysis of the business using appropriate comparative measures of performance.
Task 2 : Propose Changes to Improve Management and Business Performance
Based on the information obtained from scenario 1 above, undertake the following tasks
- Recommend with justification, appropriate actions that managers of your selected SBE might undertake in order to overcome the identified weaknesses of the business.
- Analyze ways in which its existing performance could be maintained and strengthened.
- Recommend, with justification, new areas in which the business could be expanded.
Task 3: Assessment of the business objectives and plans to incorporate proposed changes
Using your selected business enterprise, assess the following
- Produce an assessment of existing business objectives and plans of your selected SBE
- Revise the business plans of your selected SBE to incorporate appropriate changes
- Prepare a feasible action plan to implement these suggested changes
Task 4 : Assessment of impact of change management and plausible solutions
- Provide a report on the impact of the proposed changes on the business and its personnel
- Provide a plan that demonstrates how the changes will be managed in the SBE.
- Show how you will monitor improvements in the performance of your selected SBE over a given timescale.