Small Business Enterprise
Assignment on:
Small Business Enterprise
Contents 1. Introduction 3 2. Small Business Performance 3 3. Chosen Organization 4 3.1 Nature of the Organization 5 3.2 Scope of business 5 3.3 Performance of UKRD Group 6 3.4 Strength of UKRD Group 6 3.5 Weaknesses of UKRD Group 7 4. Removing weaknesses 8 4.1 improving the strength 10 5. Appropriateness and effectiveness of existing business plan 12 5.1 Improved business plan 12 6. Impact of the changes in the business 13 6.1 Monitoring of the system 13 7. Conclusion 14
1. Introduction
In the period of the 1950s and 1960s the prominence given to the role of small business enterprise in the UK economy has been rewarded (Stanworth and Purdy, 2003). IN the economy of the UK 99.9 per cent of the enterprises are the small business enterprises and this figure is reflected al all over the world (Department for Business, Innovation and Skills, 2011). Whatever, it is recognized universally that the small business enterprises is not the homogenous group (Forsman, 2008). The businesses are started with very different reasons and the businesses are run by its owners and them different expectation and the liabilities. The different business has vastly different charities and the businesses are located in different areas with the suitability of the work (Wijewardena et al., 2008). At present, a lot of research and analytical work have been done on the performance of small business enterprise. For any economy, the small business sector is considered as an important factor for the development and growth of the economy. The key role that the small business enterprise plays in the economy is they create the emplacement and make the innovation for the economy as a whole (Storey, 2000). The contribution of the small economy may be very vast towards the new economy. Although, the business strategies, area of business, way of operation of the business make the differences between the businesses.
2. Small Business Performance
Small Business Enterprise
Contents 1. Introduction 3 2. Small Business Performance 3 3. Chosen Organization 4 3.1 Nature of the Organization 5 3.2 Scope of business 5 3.3 Performance of UKRD Group 6 3.4 Strength of UKRD Group 6 3.5 Weaknesses of UKRD Group 7 4. Removing weaknesses 8 4.1 improving the strength 10 5. Appropriateness and effectiveness of existing business plan 12 5.1 Improved business plan 12 6. Impact of the changes in the business 13 6.1 Monitoring of the system 13 7. Conclusion 14
1. Introduction
In the period of the 1950s and 1960s the prominence given to the role of small business enterprise in the UK economy has been rewarded (Stanworth and Purdy, 2003). IN the economy of the UK 99.9 per cent of the enterprises are the small business enterprises and this figure is reflected al all over the world (Department for Business, Innovation and Skills, 2011). Whatever, it is recognized universally that the small business enterprises is not the homogenous group (Forsman, 2008). The businesses are started with very different reasons and the businesses are run by its owners and them different expectation and the liabilities. The different business has vastly different charities and the businesses are located in different areas with the suitability of the work (Wijewardena et al., 2008). At present, a lot of research and analytical work have been done on the performance of small business enterprise. For any economy, the small business sector is considered as an important factor for the development and growth of the economy. The key role that the small business enterprise plays in the economy is they create the emplacement and make the innovation for the economy as a whole (Storey, 2000). The contribution of the small economy may be very vast towards the new economy. Although, the business strategies, area of business, way of operation of the business make the differences between the businesses.
2. Small Business Performance
References: 1. Department for Business, Innovation and Skills (2011), BIS Small Business Survey, Department for Business, Innovation and Skills, Sheffield. 2. Nicholls-Nixon, C. (2005), “Rapid growth and high performance: the entrepreneur’s ‘impossible’dream?”, Academy of Management Executive, Vol. 19 No. 1, pp. 77-89. Storey, D. (1994), Understanding the Small Business Sector, Routledge, London. 3. UKRD, (2013) highest listeners, Available at: http://www.ukrd.com/news/ (Last Access: 28, December 2013). 4. Storey, D. (2011), “Optimism and chance: the elephants in the entrepreneurship room”, International Small Business Journal, Vol. 29 No. 4, pp. 303-21. 5. Wijewardena, H., Nanayakkara, G. and Zoysa, A. (2008), “The owner/manager’s mentality and the financial performance of SMEs”, Journal of Small Business and Enterprise Development, Vol. 15 No. 1, pp. 50-161. 6. Coad, A. (2009), The Growth of Firms: A Survey of Theories and Empirical Evidence, Edward Elgar, Cheltenham. 7. Blackburn, R., Brush, C. and Blank, A. (2009), “Understanding the challenges to growth in entrepreneurial firms: cases from the UK and USA”, paper presented at the XXIII RENT Conference, Budapest, 19-20 November. 8. Barringer, B.R. and Jones, F.F. (2004), “Achieving rapid growth – revisiting the managerial capacity problem”, Journal of Developmental Entrepreneurship, Vol. 9 No. 1, pp. 73-87. 9. UKRD, (2013) different awards, Available at: http://www.ukrd.com/awards/groupawards.php (Last Access: 28, December 2013).