The Assignment Scenario
The business environment comprises of both tangible and intangible (service) products provided by Small and Medium Enterprises sector organisations which are vital for global economic growth. Hence, it is important for a new business start up to focus on its survival, business components , scan the internal and external environmental forces and analyse stakeholders’ profiles as they are vital for decision making, setting business objectives and formulation of strategies in gaining competitive advantage.
Hence , as a new business start-up, you are required to develop e business plan for a new business venture taking into account the following:
Executive summary
LO1 Be able to investigate the performance of a selected small business enterprise:
LO1.1 produce a profile of a selected small business identifying its strengths and weaknesses
LO 1.2 carry out an analysis of the business using comparative measures of performance
LO2 Be able to propose changes to improve management and business performance
LO 2.1 recommend with justification, appropriate actions to overcome the identified weaknesses in the business
LO 2.2 analyse ways in which existing performance could be maintained and strengthened
LO 2.3 recommend with justification, new areas in which the business could be expanded
LO3 Be able to revise business objectives and plans to incorporate proposed changes
LO 3.1 produce an assessment of existing business objectives and plans
LO 3.2 revise business plans to incorporate appropriate changes
LO 3.3 prepare an action plan to implement the changes
LO4 Be able to examine the impact of change management on the operations of the business
LO 4.1 report on the impact of the proposed changes on the business and its personnel
LO 4.2 plan how the changes will be managed in the business
LO 4.3 monitor improvements in the performance of the business over a given timescale.
Conclusions
Reference list