Small Business Enterprise - Assignment Example

?Small Business Enterprise Table of Content 1. Overview 3 1 Strengths/Weaknesses of the two companies 3 2 Comparative Analysis of the Business5 2.1 Recommendations to overcome the weaknesses 6 2.2 Performance Maintenance 6 2.3 Business Expansion Strategies 7 3.1 Assessment of Business Objectives and Plans 8 3.2 Revision of Business Plans 8 3.3 Action Plan for Change Implementation 10 4.1 Impact of Proposed Changes on Business and Personnel 11 4.2 Managing the Changes in the Business 12 4.3 Improvements of the Business Performance over Given Timescale 12 13 13 References 14 1. Overview Cloudreach is a small company dealing with cloud computing. The company primarily strategizes aspects of “Make it happen” which is also considered to be as the company’s mission. The best thing about the company is that it operates with very less number of members i.e. around 54 employees but has been voted by the Sunday times as the top ranked till managed to in its own respect. It is a small private firm that is based in London and has been established in the year 2009 (Best Companies, 2013). It is a great matter of pride for the company as the staff turnover is quite less. Moreover, the company is seen to employ young candidates who are of the age of 29 on an average. Considering all of these aspects, it can be said that small businesses if properly managed can lead to smooth flow of the business activities. In this respect, another small business i.e. TPP SystmOne which is specialized in delivering internet services to the consumers’ (Goundrey-Smith, 2012). TPP has been considered to be the best company for a fourth time pertaining to the review of the Sunday Times. Moreover, the company has also been bestowed with a special award as the best improver in the division of internet services. Moreover, it has been ascertained that the company has been heading towards the roadway of success. 1.1 Strengths/Weaknesses of the two companies In relation to Strengths/Weaknesses of Cloudreach, it can be said that the company operating with such a small number of employees and getting recognized at a larger scale is one of the major strengths of the company (Cloudreach, 2013). Another aspect that represents the strengths of the company is that it has been able to grab the top position for the cloud computing services that it renders to its customers’. Moreover, the company is responsible for providing a wide array of services namely: migration services, services relating to application development, managed services and consultancy services among others. The aforementioned services being rendered by the company reflects about its accelerated strengths irrespective of its size. In keeping up with the fact about the company’s strength, it assists in maintaining sustainability within the competitive market scenario. However, the small size and less employee turnover can be considered as the weakness of the Company i.e. Cloudreach. In relation to the aspects associated with this factor, it can be said that if the company plans for following expansion strategies in the near future then its small size may prove to be a hindrance in its growth (Cloudreach, 2013). On the other hand, the company i.e. TPP SystmOne endures certain major strengths that will enable the company to be in a much favourable position in near future. The company is mainly responsible for developing high end software that delivers fruitful sources of information to numerous health professionals around the world. This factor adds up to the strengths of the company to a greater extent (TPP SystmOne, 2013). The major weakness of the company can be considered as the small size. This factor can prove to be quite disadvantageous for the company if it goes for an expansion in diversified field worldwide. Furthermore, the company is specialized in the field of medicines and provides useful information pertaining to the best use of medicines. It does not reflect much diversity in its services which can prove to be a major weakness for the company (Beisse, 2012). 1.2 Comparative Analysis of the Business In relation to the comparative analysis of both of the businesses, it has been learned that both of them reflects certain characteristics of similar nature. This fact can be ascertained by providing maximum weightage to the observation that operations of both the companies come under the perspective of small business scenario In relation to the aspects associated with the performance measures, both the companies seem to consider certain aspects that will trigger their high end performance on part of business activities. In relation to these aspects, it can be said that Cloudreach considers major factors that covers all the aspects relating to working life along with building of leadership skills. All of these aspects provide greater amount of weightage to the fact that the company highly values the facets associated with performance measurement. Furthermore, the company also consider performance measurement to be an integrated factor as it comprises of limited number of employees i.e. 54. Management of such a small number of employees is not a big issue for the company. In keeping up with this factor the company is able to fulfil the aspects of performance measurement to an accelerated extent (Cloudreach, 2013). In relation to the other company i.e. TPP it can be well ascertained that it has been able to fulfil the aspects associated with performance measurement to a certain extent. This factor can be ensured by providing weightage to the bonus of the employees that is provided by the company. Extra pay or bonus usually accelerates the motivation of employees that increase their performance. By way of following this strategy, the company is widely benefitted in providing high end performance (TPP SystmOne, 2013). 2.1 Recommendations to overcome the weaknesses In keeping up with the various strengths and weaknesses of the companies, it can be ascertained that diversification can provide the companies a next level of height. With due consideration and analysis, it has been observed that the problem mainly lies within diversification. This weakness can very well overcome by making fruitful business strategies. In relation to this aspect, it is felt that it would be very much wise for both of these companies if they are able to lay their focus on the aspects associated with business expansion. This would lead to the fulfilment of the long term business objectives as well. Moreover, the companies will receive ample assistance in delivering high amount of importance to the aspects associated with profitability. Thus, if the companies are able to consider this aspect then it will automatically lead to diversification of the business portfolio as well which will reap high amount of benefits to the company (Peng, 2000). 2.2 Performance Maintenance In relation to the aspects associated with the maintenance of performance in the concerned companies there are numerous processes if followed accordingly can lead to high end business results. In this respect, continuous performance assessment in a weekly basis can prove to provide a great aid to the concerned companies. It will enable a routine check upon the variance in the performance levels of the employees. Moreover, it will also lead to improvement in the performance of the employees to a very large extent. In relation to this aspect, the company can also be widely benefitted by way of high level of output that will come from the employees. Both of these companies can take the aid of additional measures in order to create effective strategies for performance maintenance. Another fruitful recommendation would be to include a formal review process in relation to the performance of the employees. This would include a form that would be filled out by each member or the staff. This form will entail key categories that are important both to the organization and to the individual. Some of the topics within the form would involve interpersonal skills, guest services, communication, budget control, and project completion among others. Each category would have a rating scale and a place for the manager to write comments as to why the employee was rated in a particular way (Wireman, 2005). In order for the form to be valid, managers from each department would meet together and set parameters for each of the rankings. 2.3 Business Expansion Strategies In relation to the aspects associated with business expansion strategies, it is highly recommendable that both the companies need to consider all those aspects that reflect high end business prospects. In this respect, it is needed to be stated that both of these companies need to decide upon all those factors that drives high amount of consumer responses. In other words, it is of primary importance to study the requirements of the consumers and based on the level of their requirements, these companies need to decide upon the exact business strategies that are needed to be implemented. Examination of these factors would provide great aid in determining the broad areas in which the business is needed to be expanded. This way it will provide great aid to both the companies in following the right path for determing business success and will also lead to fulfilment of the long term objectives of the business. Each and every business undertaking whether small or big largely values the concept of profitability and includes in the long term objectives of the business (Verbeke, 2013). 3.1 Assessment of Business Objectives and Plans In relation to the aspects associated with business objectives and plans of both the companies, it has been learned that TPP SystmOne and Cloudreach primarily prioritizes the aspects associated with creation of perfection in the business. However, Cloudreach being a smaller company as compared to TPP SystmOne is more creative as it is has been able to claim the top position in accordance to the report of the Sunday times. In a similar context, it can be affirmed that both the companies are specialized in delivering the services for which they are highly known to the consumers. As per the analysis it has been learned that the objectives of both the companies seem to rest upon the aspects associated with creating of high end business prospects. TPP SystmOne on the other hand, seems to value one of the primary objectives i.e. providing the consumers with diversified range of services. Moreover, the company also considers the aspects associated with fulfilment of the interests of the employees. It offers them with private healthcare series, travel insurance and maternity insurance along with dental insurance. All of these aspects are fulfilled by the company in order to create a distinct level of competitiveness which can be considered to be as one of the objectives of the company. It is felt that all of these aspects are followed by the company in order to follow a planned procedure achieve sustainable amount of growth in the near future. In relation to the plans of Cloudreach, it is felt that the company wants to maintain its top position in the future as well (Blackwell, 2011). 3.2 Revision of Business Plans In relation the aspects associated with the business plans of both the companies, it has been learned that TPP SystmOne along with Cloudreach have broad business objectives and plans that they wish to implement in a formative manner in the coming years. It has also been noted that both the companies largely value the aspects associated with growth and prosperity. Thus, by way of proper analysis of the objectives and the plans of both the companies, it can be affirmed that if the companies values the consumer’s preference levels then it would provide the companies with great deal of helping hands. Each and every step that companies take is directly proportionate to the business results that companies receive. Therefore, it is of primary importance that both the companies need to formulate an excellent marketing strategy, which is needed to be solely based upon the consumer preferences. Fulfilment of this aspect will deliver great aid to both the companies in following an excellent marketing strategy. Moreover, it will also lead to fulfilment of the greater objectives of any business i.e. profitability (Cloudreach, 2013). 3.3 Action Plan for Change Implementation Action How Sensible Measurable Achievable Realistic Timed 1)New product with additional facilities such as integrated technological computing product and tools which would attract the customers of all types Performing marketing research for learning the customer preference It would create customer loyalty and brand awareness It can be measured by analysing the total sales of the product With the help of customers interested in buying the product Reasonable cost Within 2 months 2) Value based pricing for the new invented product According to marketing research results Efficiency of the product By measuring the profit margin With the help of the management of the newer product Reasonable cost Within 2 months 3)Availability of the product through any of the stores of Cloudreach In order to attract more customers Brand image augmentation of the newer computing technology By evaluating the demand of the newer computing technological product With management and the existing customer of the Cloudreach Reasonable cost Within 2 months 4)Promotion through: newspaper, internets, sponsorships, direct mails with catalogues Increase customer ranges Product and organisational awareness By assessing the dominance of the computing technological product With the help of management of Cloudreach Reasonable cost Within 3 months 5)staffs of the company must be provided with special training of the product so that they can explain well about the product to their customers To improve customer satisfaction It would improve customer confidence and also provide employee motivation By considering the brand image of the company With the help of management of Cloudreach Reasonable cost Within 1 month 4.1 Impact of Proposed Changes on Business and Personnel In the above mentioned parts few of the changes have been suggested to the company in order to raise the business volume of the company and also motivate the business objectives and plan. For the growth and development of the company, it must at first focus on the introduction of a newer product and as Cloudreach is an IT company, thus, it has been suggested to introduce any integrated computing technological product, which can capture the large enterprise customers. Although the company is a small enterprise, it must also keep an eye on the pricing strategy of the company. It is one of the vital aspects that the company must keep into consideration. In developed country like the UK, there might be a lot of companies, which offers similar products at lower prices and in such situation Cloudreach must struggle for attracting more customers by providing effective and reasonable priced products. As per the action plan prepared for Cloudreach, it can be suggested that it must also give attention to the promotion of its products in order to gain customer attraction and satisfy their needs. The strategies for bringing change in the business of Cloudreach do not end with the innovation of products and promotion but the company must work hard for training its personnel so that they can take active participation in the process of organizational change (Mullin, 2010). 4.2 Managing the Changes in the Business The aforesaid changes that have been suggested to Cloudreach for managing its business would help it a lot to capture more valuable customers in the national market and with those changes might be the company can make a move towards the growth of the business. Cloudreach must hire some more staff members who will be responsible for looking after the activities of managing the proposed changes in the company. Cloudreach must conduct various research activities and also the market research so that it can better understand the taste and preference of the customers and take effective strategies accordingly so that it can satisfy the needs of the customers. With the conduct of the marketing research, it can design the new and integrated technological product for the national customers’ as well. If the sale of the product increases, Cloudreach can opt for expansion of its business and enter to the international market as well. Being an IT company, it must take initiative in frequent study of its targeted audiences and the specified market where it is running its business. The most important step that Cloudreach can take for managing the changes, it must arrange for training programmes and other activities, which will motivate its employees so that they can give efforts in increasing the sale of the products and gain more customer attention. 4.3 Improvements of the Business Performance over Given Timescale In the above mentioned action plan, it has been observed that each of the proposed change has been mentioned within a stipulated time period. In the process of organizational change, the company must not limit its responsibilities in developing the growth strategies but it must look whether those changes are being maintained within the time or not. For instance, the proposed changes for Cloudreach have been confined within maximum time period of 3 months. It must conduct frequent market research so that it can learn whether the strategies are being effective or not (Curtis, n.d.). For this kind of activities, it is suggested that the company segregates few of its employees for observing the market situation and strive for making effective changes within the stipulated time. References Beisse, F., 2012. A Guide to Computer User Support for Help Desk and Support Specialists, 5th ed. Cengage Learning. Best Companies, 2013. Sunday Times List 2013 - 100 Best Small Companies. The Workplace Engagement Specialists. 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[Online] Available at: http://ag.arizona.edu/arec/wemc/nichemarkets/07conductingmarketresearch.pdf [Accessed December 13, 2013] Goundrey-Smith, S., 2012. Information Technology in Pharmacy: An Integrated Approach. Springer. Mullin, R., 2010. Sales Promotion: How to Create, Implement and Integrate Campaigns that Really Work. Kogan Page Publishers. Peng, M. W., 2000. Business Strategies in Transition Economies. SAGE. TPP SystmOne., 2013. Say Hello To The Experts In Connecting Healthcare. About US. [Online] Available at: http://www.tpp-uk.com/systmone-overview/ [Accessed December 13, 2013] Wireman, T., 2005. Developing Performance Indicators for Managing Maintenance. Industrial Press Inc. Verbeke, A., 2013. International Business Strategy. Cambridge University Press. Read More