Unit 33 Small Business Enterprise Merit Assignment

 

Unit 33 Small Business Enterprise Merit Assignment

Introduction

Create an integrated report with an Introduction, Conclusion, and Reference List in Harvard Referencing style that completes all four sections of the work in the body. There are sub-parts within each portion. These sub-parts should be addressed in paragraphs as a whole. You have been given the opportunity to choose a company within a specified sector to assist you frame your report inside a specific context for the aim of the report.

Unit 33 Small Business Enterprise Merit Assignment

Purpose of this assignment

Small enterprises are critical to any economy’s success. They are the future’s success stories, as well as a source of economic growth and the backbone of creativity and manufacturing. Small businesses, on the other hand, are confronted with a wide range of internal and external issues on a daily basis, necessitating the development of an understanding of how to employ successful turnaround business strategies to return their companies to profitability. This supports the learning objectives of this unit, which are to provide learners with the chance to focus on the processes involved in analysing and enhancing the performance of a small commercial company through change management.

Scenario

Small enterprises are critical to any economy’s success. They are the future’s success stories, as well as a source of economic growth and the backbone of creativity and manufacturing. Small businesses, on the other hand, are confronted with a wide range of internal and external issues on a daily basis, necessitating the development of an understanding of how to employ successful turnaround business strategies to return their companies to profitability. This supports the learning objectives of this unit, which are to provide learners with the chance to focus on the processes involved in analysing and enhancing the performance of a small commercial company through change management.

Unit 33 Small Business Enterprise Merit Assignment

Task 1: Business Performance of a selected small business enterprise

Approach a small firm that you are familiar with and can reach, and from which you can receive necessary information to help you complete the following tasks:

Unit 33 Small Business Enterprise Merit Assignment

Create a profile of the selected small business enterprise (SBE), which should cover, among other things, the SBE’s inherent shortcomings and places where it stands out from its competitors.

Conduct a company analysis using relevant comparative performance measures.

Task 2 : Propose Changes to Improve Management and Business Performance

Execute the following tasks based on the information collected from scenario 1 above.

 

Recommend, with rationale, appropriate activities that managers of your chosen SBE could take to address the business’s identified deficiencies.

Examine how the company’s current performance could be maintained and improved.

Recommend, with rationale, new areas where the company could grow.

Task 3: Assessment of the business objectives and plans to incorporate proposed changes

Examine the following factors using your chosen business.

Unit 33 Small Business Enterprise Merit Assignment

Prepare an evaluation of your chosen SBE’s current business goals and ambitions.

Revise the business plans of your chosen SBE to include any necessary adjustments.

Prepare a workable action plan to put these suggested improvements into effect.

Task 4 : Assessment of impact of change management and plausible solutions

Prepare a report on the proposed changes’ impact on the company and its employees.

Provide a plan that demonstrates how the SBE will deal with the changes.

Demonstrate how you’ll track improvements in the performance of your chosen SBE over time.