Small Business Enterprise Sample

Business Enterprise Sample
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Table of Contents
INTRODUCTION.................................................................................................................... 1
TASK 1..................................................................................................................................... 1
Performance of small business enterprise and its profile............................... 1
TASK 2..................................................................................................................................... 4
Actions to overcome weaknesses.............................................................................4
Areas where expansion of business can be done...............................................5
TASK 3..................................................................................................................................... 6
Assessment of existing business plan and its revision with changes.........6
TASK 4..................................................................................................................................... 8
Impact of change management with appropriate theories............................ 8
CONCLUSION...................................................................................................................... 11
REFERENCES...................................................................................................................... 12
List of figures
Figure 1; Business Plan.....................................................................................................7
Figure 2; Kurt Lewin 3 Phases Change Theory........................................................ 9
INTRODUCTION
Small or medium enterprises (SMEs) is the one in which there is not
a big staff but a very few number of people for running its business. In
present scenario, there are various SMEs which are bringing innovation in
the economy and giving competition to many other sectors. These
corporations are normally privately owned as well as in partnership also.
Some of these small businesses are like tradesmen, lawyers, small shops,
guest houses and online businesses (Susman, 2007).
In this report, for understanding the concept of SMEs, the firm,
Cambridge Satchel Company is being taken. It is one of the SME in UK
which is a British company. It deals in manufacturing of satchels and other
leather goods. Here, there will be a study on its performance with
comparison to other SMEs (Nichols, 2014). Justifications to overcome this
firm from its weaknesses with the importance of change management will
also be discussed here.
TASK 1
Performance of small business enterprise and its profile
Cambridge Satchel Company is playing a very crucial role in its
European economy. Government is also helping it to expand its business
and participate in more private sectors. It is giving high performance in
the market and providing quality products to their customers. This firm is
having great entrepreneurial skills and mission to bring innovation and
more employment in the economy (Botha and Solms, 2004). It is the one
which is providing a very high rate of jobs to people of the European
economy in comparison to other firms of this sector. The performance
which it is giving is having a substantial impact on entire UK economy.
People buying its products are well enough satisfied with what they are
providing to them. Cambridge Satchel Company is enjoying its
competitive advantage as they are producing bags of real good quality
(The Cambridge Satchel Company, 2014). Company gives guarantee for

their products as they uses quality raw material to produce them. Its
competitors are providing their products on lower rates with lower quality.
This organization is having various strengths which makes it
different from its rivals. The major strength of this is its high quality
products. The enterprise does not compromise in terms of its worth and
features and provides superior goods. Cambridge Satchel Company
manufactures bags according to the tastes and preferences of people of
their target market. They are having variety of colours in their bags which
consumers prefer the most (Hutt, Gavieres and Chakraborty, 2007). Other
firms are having variety but their quality cannot match with the value this
organization is giving to the people. It discloses all its information to its
stakeholders so as to provide that data which they require. It helps in
increasing their trust and confidence on firm. Ultimately it increases the
goodwill of the firm. The market share of the company can also be
enhanced through this. Cambridge Satchel Company is one which works
for their customers by keeping in mind their demands and desires (Khan,
Hussain and Yakub, 2012).
In spite of having so many strengths, company is having some
weaknesses too. The main negative aspect of this is that it is not having
variety in its product. There is only one pattern of the bag they are
manufacturing but in different colours. It can be one of the reasons which
can decrease its profits and revenues. There are some other weaknesses
too like lack of finance in the company which leads to delay in its
functions (Gillin and Schwartzman, 2010). More efficient management
skills are also required in the organization. Their planning and time
management is also not that effective and needs improvement so as to
bring efficiency in firm. Limited resources are one of the very important
weaknesses of this organization.. Cambridge Satchel Company is still
using old technologies and needs latest ones. These are the reasons
because of which company needs improvement for its better performance
(Ireland, Hitt and Hoskisson, 2008). For staying in the market for a long

period of time, this enterprise has to take some initiatives to remove its
weakness.
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Small Business Enterprise,
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It has done targeting and segmentation of its business on the basis
of age. Initially, Cambridge Satchel Company manufactured its products,
that is, leather and satchel bags for school children. Later, it expanded its
business and targeted adult also who are fashion conscious. Nowadays, it
is giving tough performance to its competitors. They are able to generate
attractive profits from the target markets they are having. For targeting
as well as for making segments of their markets they had done in depth
research (Arnold, 2004). The brand positioned itself for the best quality
they are providing with the guarantee of its durability. Every year, its
turnover rate increases with increase in its market share also. Earlier,
Cambridge Satchel Company was just having its core business, but later it
joined with another fashion brand, that is, Comme des Garcons (Mullins,
2010). The major reason behind this partnership was to increase the level
of production of firm as well as number of personnel also need to be
increased. It is the main basis of earning high profits in comparison to its
competitors. It helped the firm in many areas. Company uses various
performance measures in order to check its actual position. These

measures are like surveys and interviews taken to customers (Muondo
and Perkins, 2013). Through this, feedback is taken from them and on the
basis of that, improvements has been made in the existing strategy of
business. By analysing cash flows and income statement of the company,
justifications have been made. These helps in improving cash
management of firm as well as it assess the requirement of funds into
business.
TASK 2
Actions to overcome weaknesses
As Cambridge Satchel Company is having some weaknesses which
need to be removed so as to increase its efficiency and smoothness in its
functions, there are some ways for that. The major weakness is that,
enterprise is not having variety in their bags and they need that so as to
increase its target market. For this, it has to expand its business in new
areas and in new fields (Avgerou, 2008). By having variation in product
line it will help the organization to attract more customers and it will also
increase their profits. As in company there is lack of finance also, it can
take long and short term loans from banks or various financial institutions.
In order to raise its funds, Cambridge Satchel Company can also use their
old assets by selling them and reinvest the money they get from that.
Organization is facing problem of lack in managerial skills too. For this, it
has to recruit skilled employees in their firm and select those at the
position where those skills are required (Butler, 2010). Some training can
also be provided to the existing managers so as to increase their skills and
abilities which they can use for making work efficient.
Enterprise is facing one more important issue, that is, inefficient
planning and time management. Planning is the base of any organization
and so as in Cambridge Satchel Company. To make the base strong, firm
has to take initiatives so as to survive in the market for a long period of
time. For this, training can be provided to the people at higher level of
organization who make decisions. A particular time has to be delegated

for the planning of future strategies of the business (Kumar, 2008). It will
maintain the smoothness of functions of processes. Time management
plays a crucial role in achieving the companys target on time. For
managing the time, firm managers should make schedules for each
activity needs to be completed within stipulated time period. Cambridge
Satchel Company is facing one more problem that is lack of resources. In
this organization, there are very limited resources which lead to delay in
functioning of the operations so they have to be used in an optimum level
(Peltier and Naidu, 2012). In this case, firm should try to reduce the
wastage of resources and make their employees understand to use them
in the most efficient and effective way. It will help in strengthening and
maintaining stability in organization.
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Areas where expansion of business can be done
Cambridge Satchel Company can expand its business in various
areas so as to increase its profits and revenues. Technology which this
company is using is also playing an important role as there are a lot of
competitors in the market and they are using latest technologies which
creates innovation as well as reduces the cost of product. In order to cut
the cost, organization should use latest technology. It will ultimately

increase the number of customers. Also, it will save the time and efforts of
employees (Wood, 2006).
As this organization is having only one product line which is for females
only, it can expend in other areas too so as to enlarge its business
structure. Company can enter into new market that for males. For them
also, it can manufacture leather or satchel bags which they can carry
easily. These bags have to be in some manly look so as to attract this
target market. It can be a very good idea for this firm to increase its
market share. Another area where they can enter is footwear market
(Jones and et.al, 2004). As they are having high quality leather with them,
they can manufacture boots for male and female both. As they are in
trend, it will help the enterprise to earn more profits as well as goodwill in
their market.
TASK 3
Assessment of existing business plan and its revision with changes
Every organization needs business plan and so as Cambridge
Satchel Company too. It can be on the basis of either long term or short
term. This organization is having long term business plan which comprises
of many things so as to sustain itself. In existing plan for its business, it is
having various elements. These are like its vision, mission, and main
objective of the firm, company background and description of the product.
For making this business plan, most important thing is planning (Nichols,
2014).

Figure 1; Business Plan
Here, planning refers to financial and human resource planning so
as to run activities needed for completing the tasks for achieving targets.
It focuses on its operations which are required for manufacturing their
products. It makes marketing plan for the product they are dealing with
and for that they make assessments related to their resources, that is,
available and required one. Cambridge Satchel Company makes decisions
according to the availability of resources in organization (Botha and Solms,
2004). All their strategies are according to what is available and what is
required. All those resources which are needed, strategies are being made
for them. For anticipating the actual position of company, SWOT Analysis
is being used. It allots particular time period for each activity. By this
business plan, company is earning high profits as well as it is helping the
firm to survive in market with success (Hausman, Johnston and Oyedele,
2005). However, it has some negative aspects also like it has very rigid
policies and traditional criteria to make judgements about it. Some
changes needs to be there which organization is required to adopt so as
to make it survive for long term. After adopting changes, a clear mission

has to be there which can tell about the future activities which Cambridge
Satchel Company needs to fulfil. In a new business plan, something for the
society should also be there. Without doing something for the welfare of
the society, organization cannot survive in a long run. If it would take
initiatives for good of people, it would have its direct impact on its
goodwill in the market (Hutt, Gavieres and Chakraborty, 2007).
Company can make new strategies for the development of new
products or variation in existing products. Innovative technologies should
be used for increasing demand of the product and also in market share.
PESTLE can also be used which provides an overall picture of where the
company is standing. It will reveal all its strong and weak external areas.
For internal analysis, SWOT is used. It tells about the internal
requirements of Cambridge Satchel Company (Khan, Hussain and Yakub,
2012). This plan proves to be very helpful in making right strategies for
the firm which in turn would provide highest returns. In the new plan,
promotional strategy should also be made in which the right selection for
the promotional tool is done. These tools will be selected on the basis of
target audience and according to their budgets. For completing the new
plan, company has to select explicit timeline (Gillin and Schwartzman,
2010). By adopting all these elements in its existing business plan,
Cambridge Satchel Company can improve its performance to a greater
level and can expand its business to all over the world.
TASK 4
Impact of change management with appropriate theories
In Cambridge Satchel Company, change management plays a very
important role as to survive in the market for a long period of time,
managing change is necessary. In present scenario, there is a dynamic
environment and to resist with that, change is needed. If company will
adopt the change, some difficulties may occur as there would be few
people who will not accept the change. The reason behind that can be
that they are not comfortable with change. Due to fear of risk, employees

may not accept the change. It would create a negative environment on
organization which leads to dissatisfaction of employees (PETOUHOFF, N.
and et.al, 2006). Because of this, there can be chances of conflicts in
between people as well as confusion too. But to survive in market, change
is necessary and Cambridge Satchel Company has to adopt it. Before
planning about any change in order to implement it, first it needs to
analyze that whether it will be beneficial for the firm in all aspects or not.
If it proves to be of worth, to execute it will be the better option for the
firm. Through changes, new opportunities develop for employees as they
get recent talent and abilities to cope up with these changes. It increases
their skills and knowledge (Jones, J. and et.al, 2004). The major advantage
of adopting change is that, organization can protect itself from its
competitors.
Various theories are there through which change can be
implemented in Cambridge Satchel Company. One of them which is very
popularly used by the firms and can also be implemented on this
organization is Kurt Lewin 3 Phases Change Theory. It is a change
management model which proves to be very helpful in executing change
in this company. It involves three steps which are like unfreeze, transition
and freeze (Nichols, 2014).
Figure 2; Kurt Lewin 3 Phases Change Theory

Unfreeze In the first stage of it, Cambridge Satchel Company has
to understand the need for change and to have an idea about those

factors which are creating disturbance in organization. Here, in this stage
firm gets ready to adopt the change and plan about the strategies it
needs to execute for having that. This stage is all about getting prepare
and make people agree to accept the requirement of transformation in
organizational environment (Charantimath, 2006). It tells employees to
leave their comfort zone and learn to adjust in new atmosphere which is
necessary for them. After making employees recognise with the change
need, they are being motivated to apply it in action. Here, in this step,
some deadline has to be there with rewards which organization has to
announce. As if there will be positive and negative motivation on
completion of the deadline, results would be achieved on time. Positive
motivation refers to various financial and non financial incentives while
negative motivation says about punishment like demotion (Reid, 2002).
Transition It is the reaction to change, that is, to move towards to
make it an action. In this stage, implementation is done of what has
planned to bring alterations in Cambridge Satchel Company. Here, people
may have fear to get fail, in what they are expected to do. Training is
required in this phase to reduce employees feeling of anxiety and fear. A
high level of motivation is given to employees so as to willingly accept the
change in company (Carter and Evans, 2012). It is the most important
phase and is very difficult too. As in Cambridge Satchel Company, every
employee is different and has varied perceptions about anything. To deal
with them in a same way is not possible. Each person requires distinct
way of motivation. Here, people need some time to understand the
change and then they can apply it in firm. The main role in this phase is of
leaders and mentors who bring new concepts in the company and guide
people to implement them (Bridge and Neil, 2012). Proper communication
is needed here to get the desired results and provide benefit to
employees as well as to Cambridge Satchel Company.
Freeze The main focus in this stage is stability of the changes that
have been made. It says that when Cambridge Satchel Company will

execute the alterations on its firm, it has to maintain them and make
them stable as well. Only then, profits can be increased and revenues can
be generated. In this step, people become comfortable with the changes
and have discovered new relationships with their team members (Patra,
2006). However, in todays world, change cannot be stabilising as it is a
process which keeps on going. It is the responsibility of the organization to
get adjusts with that. So, great flexibility is needed in Cambridge Satchel
Company to make its business sustain.
CONCLUSION
From the above report, it can be concluded that Cambridge Satchel
Company is the organization with high profits and revenues as well as
having high goodwill in the market. It is having various strengths of it from
which is giving competitive advantage to them. There are some
weaknesses also which it has to overcome for making its business
successful. For that, it can create varieties in their product line as well as
it can also expand the company in new target markets (Charantimath,
2005). By capturing them, it can earn more profits and its goodwill also
increase. Through this, it can gain trust and confidence of customers on it
which ultimately leads to stability in its growth. For having all of this, it
has to adopt change in its company.

REFERENCES
Arnold, 2004. The mirage of global markets: how globalizing
companies can succeed as markets localize. 2nd ed. FT Prentice Hall.
Avgerou, C., 2008. The significance of context in information systems
and organizational change. Information Systems Journal.
Beaver, G., 2002. Small Business, Entrepreneurship and Enterprise
Development. Financial Times/Prentice Hall.
Botha, J. and Solms, V. R., 2004. A cyclic approach to business
continuity planning. Information Management & Computer Security.
Bridge, S. and Neil, K., 2012. Understanding Enterprise:
Entrepreneurship and Small Business. Palgrave Macmillan.
Butler, C. J., 2010. Internal and lateral communication in strategic
alliance decision making. Management Decision.
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Small Business Enterprise Sample

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Figure 2; Kurt Lewin 3 Phases Change Theory

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