Small Business Enterprise

Small Business Enterprise

Small Business Enterprise
Question
Answered

Purpose of this assignment
The aim of this unit is 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.
Scenario
Assume you have been working for other organisations (as an employee). On 19th September 2016, you attended a business seminar titled ‘small businesses, the backbone of every strong economy’. You have been thinking about ‘stepping out’ and be the boss of your own business after attending the seminar but the fear of failure has been the restraining force. You recently listened to a motivational speaker who made a statement ‘One of the ways to overcome your fear is to face it’. The statement has motivated you to study the way small businesses operate and to gather some valuable information to build a successful business.  A very close friend of yours advised you to research using books and other reputable electronic sources to build your understanding on the processes, change management and improving business performance.
You are advised to choose a small sized business of your choice (with internet presence) and relate the idea to the chosen business.

Task 1:
Be able to investigate the performance of a selected small business enterprise
 (This task offers you an opportunity to achieveL.O.1: AC1.1 AND AC 1.2)
You are required to;
•    Produce a profile of your chosen business, identifying its strengths and weaknesses (AC 1.1)
•    Carry out an analysis of the chosen business using comparative measures of performance (AC 1.2)

Task 2:
Be able to propose changes to improve management and business performance
 (This task offers you an opportunity to achieveL.O.2: AC2.1, AC 2.2 AND AC 2.3)
You are required to;
•    Recommend with justification, appropriate actions to overcome the identified weaknesses in the chosen business (AC 2.1).
•    Identify the existing performance of the chosen business and analyse ways in which it could be maintained and strengthened (AC 2.2).
•    Recommend with justification, new areas in which the chosen business could be expanded (AC 2.3).

Task 3:
Be able to revise business objectives and plans to incorporate proposed changes     
(This task offers you an opportunity to achieveLO3: AC3.1, AC 3.2 AND AC 3.3)
You are required to;
•    Produce an assessment of the objectives and plans of your chosen business (AC 3.1).
•    Revise the plans of your chosen business to incorporate appropriate changes (AC 3.2).
•    Prepare an action plan to implement the changes (AC 3.3).

Task 4:
Be able to examine the impact of change management on the operations of the business
(This task offers you an opportunity to achieveLO3: AC3.1, AC 3.2 AND AC 3.3)
You are required to;
•    Report (produce a detailed account) on the impact of the proposed changes on your chosen business and its personnel (AC 4.1).
•    Plan how the changes will be managed in the chosen business (AC 4.2).
•    Monitor improvements in the performance of the chosen business from the previous year to date (AC 4.3).

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