Introduction

A small business enterprise is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses enterprise environment are normally privately owned corporations, partnerships, or sole proprietorship. The legal definition of “small” varies by country and by industry, ranging from fewer than 15 employees under the Australian Fair Work Act 2009, 50 employees in the European Union, and fewer than 500 employees to qualify for many U.S. Small Business enterprise Administration programs. Small businesses enterprise can also be classified according tooter methods such as sales, assets, or net profits. Small businesses enterprise are common in many countries, depending on the economic system in operation. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers, accountants, restaurants, guest houses, photographers, small-scale

manufacturing, and online business, such as web design and programming, etc.Why do people start a small business enterprise? Some want to spend more time with family, and starting a business decision allows them to do that. Some find it exhausting to be outside the house all day, dealing with traffic, co-workers, meetings and interruptions. Some people hate answering to a boss all the time- needing permission to schedule a dentist appointment or take the day off when they’re sick. Some people are unmotivated by the security of a regular pay check and prefer the challenge of the direct rewards or losses that entrepreneurs see from their efforts.

Maybe you want to build an empire and become famous, or create a wealth-generation machine that you can pass on to your children. Or perhaps you can’t convince anyone to recognize your unique vision and you’ve decided that it will never come to fruition unless you strike out on your own. Or maybe you’re thinking of self-

employment because you’ve been unemployed for so long that you feel that you’ve exhausted all the other options.Becoming a small business enterprise owner has unique challenges and rewards that aren’t right for everyone. You must be driven, disciplined and able to identify a product or service that people need – one that they will pay enough for to allow you to live comfortably. You have to develop marketing skills and be able to find your own work, because it won’t fall into your lap until after you’re well established. Business owners need to understand how to budget, keep records and handle small business taxes. They must familiarize themselves with employment laws if they want to hire staff. They also need a plan for protecting their business and everything that’s tied to it if something goes wrong.TASK One Using an organisation of your choice, explain the following: Describe the profile of a selected small business

Enterprise’s beauty Salon has been serving the Gambian for over 3 years.  The owner, Kaaba, has 3 years experience as a hair cutter and as a professional stylist development  for weddings, proms, and special occasions.  The salon has a full-service staff with very little experience in hair and nail care. Kaaba’s Salon goals are to create a friendly, relaxed, warm, and comfortable place for men and women, children, and families.  She also enjoys providing salon services for people to enjoy having their hair and nails done.  The salon’s interior provides a natural environment filled with beautiful greenery, soothing stereo music, and cable TV to make the entire family feel comfortable. Kaaba is always there to finish up client’s hair so as to give them the best looks. The salon services offered are haircuts, highlight coloring, perms, up dos, bridal, homecoming, special occasion styles and nail care.  Make an appointment today and experience the friendly, warm, and comfortable service you deserve.

Organisational Performance Measurement

Under the section, performances are measured under the following characteristics or element: * Level of output- is it below expectations or above expectation? Is there any deviation between planned results or actual results? * The profitability of the organisation.Here, performance is measured by taking into accounts the following elements: * The level of overtime spent by the individual beyond the normal time. * How efficient and effective is the work force or individual efficiency and effectiveness takes into account

performing a task within a shorter period, competency reduction in errors and mistakes * The output and the time frame required.* The level of punctuality and commitment of the work force towards meeting objectives and goals. * The meeting of a bench-mark or a yardstick set by the organisation or management.Customers will often pay a premium for personalized attention. In many companies where products and prices differences are minimal, the human factor emerges as a prime competitive advantage. Greater

Motivation.Business Key management of small enterprise normally consists of the owner(s). They work harder, longer and with more personal involvement. Profits and losses have more meaning to them than salaries and bonuses have to the employees of a multinational company. Greater Flexibility.A small enterprise has the prime advantage of flexibility. Big company cannot stop operation without opposition from organized labor, or even increase price of their products without possible intervention from government. Small enterprises have shorter lines of communication. Their product lines are narrow, their market limited and their factories and warehouses are close by. They can quickly spot trouble or opportunity and take appropriate action. Less bureaucracy.In small business the whole problem can be understood readily,

decision can be taken quickly and the results checked easily. But in a multinational company, bogus management structure can lead to delay in taken action and bureaucratic influences. – Unobtrusive (Less Conspicuous).Small company can try new sales tactics or introduce new products without attracting undue attention or opposition. This is possible because it is not quite as noticeable as multinational company. Large company is constantly faced with proxy battles, antitrust actions and government regulations. It is also inflexible and hard to change or restructure.

Weaknesses of small business enterprise

The location of my shop is very bad. During the rainy season, there are massive pools of water and cars rarely want to come around that area, therefore, I hardly have any clients during that period. Attitude, The attitude of my staff towards a client is excellent but they hardly come to work. If they ever show up, it’s never on time. I have to always call them and wake them up before they come to work and the absenteeism is very rampant. It is always one excuse or the other. Management style . The management style I use in my salon is malaise afire. I offer no or very little guidance to my staff, amidst leaving them to make decisions on their own. As much as it could be overtly effective in those situations where most employees or members happen to be highly qualified and skillful in their area of experience, it has often led to poor roles definition plus a sheer lack in motivation. Quality of products , I use very poor quality products in my saloon. I buy the cheap things so as to

get more profit at the end of the day. The shampoo and hair lotions I use have very poor quality thereby destroying my clients hair. This therefore discourages them to come back to my saloon. External Opportunities and Threats.

Situational analyses consider opportunities and threats from the external environment. External opportunities include things such as gaps in the market that no company is currently serving, new markets and other clear growth opportunities. External threats include new product releases from competitors and new competitors arising in the market. A range of external factors can present either opportunities or threats, depending on the specifics. Changes in the law, for example, can provide distinct opportunities to some businesses in an industry while threatening the survival of others. Changing consumer preferences and market-changing new product categories, as another example, can give new entrepreneurs a world of opportunities while seriously threatening established brands.

RECOMMENDATIONS TO OVERCOME WEAKNESSES

Lack of experience. Not everyone is cut out to be an entrepreneur. Analyze the strength and weaknesses of starting your own business. It is important for business owners to be self-starters who are good at planning, organizing, and making decisions that can benefit their business in the long-term. It is also important to choose the right business for you; which may not be the most profitable, but the one in which you have the most interest and skill sets. Network with other more experienced business owners online and in your community to obtain feedback on how you can start and maintain a successful enterprise. Poor business location. Knowing your target consumers will help you identify where to best market your products

and services. Insufficient capital. Many entrepreneurs are not aware exactly how much they need for start-up capital— and how long it will take before their business turns a steady profit. Do your research and plan ahead to identify areas where your business may fall short. Investigate possible funding sources, such as venture capitalists. Poor credit arrangements. A comprehensive business plan will help eliminate poor credit arrangements. Poor inventory management. Keep updated and accurate inventory records to avoid future problems. Unexpected growth. Although it is often hard to predict the future economy, come up with a plan for what to do in both positive and negative situations. Consider consulting companies that specialize in helping businesses deal with situations involving unexpected growth.Bench marking: If one person lags behind, the organization can’t move forward as a unit. It is difficult to evaluate an professional employee’s performance if you don’t know what standards you should use. Benchmarks are standards for employee work that the company requires. The employee’s ability to meet those benchmarks should be the foundation of the performance evaluation. Set benchmarks in several areas and communicate your expectations for meeting standards to employees. Benchmarks for Productivity.Employees should know exactly how much work they are expected to do in a work day. The optimum situation is when this productivity can be measured, such as in producing a number of units. Even non-manufacturing

productivity can be measured, however, in terms of sales, publicity articles written, contacts initiated, successful negotiations and so forth. Set specific benchmarks in any area of productivity in which you want to measure an employee’s effectiveness. Benchmarks for Quality.Quality of work must be a part of a performance appraisal. Establish levels of expertise you expect, and use those as benchmarks. You can measure error rate in products produced, customer satisfaction and effectiveness of projects against a standard you establish. This can be stated as a percentage. Example: Employee meets quality standards 85 percent of the time. Benchmarks for Living Up to Company Values.

Each company should have a mission statement and a set of values by which it operates. Your performance appraisal can assess how often and how well an employee lives up to those values. Set a benchmark that demands compliance in the neighborhood of 90 percent of the time, and see how your employees are aligned with company values. Benchmarks for Product or Service Effectiveness.

If your product or service does not live up to certain standards, you will soon be out of business. This is at least partially the responsibility of employees. Evaluate employees against a product or service effectiveness by making them responsible for improvements. You can set benchmarks for making improvements, such as: Employee contributes quality improvement suggestions frequently. The word “frequently” would be your benchmark in this case, and though it is somewhat subjective, at least it gives you a starting point for evaluations. Definition of job procedures: Established work procedures have proven to be beneficial in many ways. They play an integral role in performing jobs safely, providing standardized training and being assistive with investigations. Job procedures are defined as a step-by-step description of how to proceed, from start to finish, in performing a task properly. Where confusion seems to run rampant is in determining whether a job requires an actual job procedure or should be considered a “task” which is a segment of work which requires a set of specific and distinct actions for its completion or if it should be a “practice” which is a set of guidelines helpful for a specific type of work that may not always be done in the same way.

Planning Planning is an essential business function that requires a dedicated effort from the company’s management team in order to fully realize the benefits. Companies often have an annual planning process whereby the strategies and budget for the upcoming year are determined, but, ideally, planning should be a part of everyday management thinking. It is a mindset of continually looking for ways to make the enterprise more competitive. During the planning process, goals are set for both the short and long term. Once goals are set, strategies are determined to reach the goals. Information is the raw material that fuels the planning process. Business Management must gather detailed information about the strengths and weaknesses of competitors in order to come up with strategies that create a competitive advantage for the company. Market research is also key; understanding your customers will allow you to better attract and serve them. Consumers’ needs change, their tastes change, and what they are willing to pay for products or services changes depending on the economic

environment. Planning requires vision, or the ability to see success for your company before it occurs. Knowing where you want the company to be in three to five years and what you want to achieve during that time is an essential ingredient of successful planning. Companies must allocate their resources to what they determine are their best opportunities, and should be constantly seeking out new opportunities. A company’s best opportunities result from a combination of its capabilities, or what it does particularly well in comparison to its competitors, and what the most critical customer needs are. The business owner must anticipate this and bring in additional talent as well as build the skills of the existing team members through additional training and education.

SOURCES AND AVAILABILITY OF PROFESSIONAL ADVICE

Management of an organisation might not be in a better position to solve or overcome the fundamental weaknesses of business performance. Therefore, shareholders and management may prefer to call on external parties based on area of specialty. Whatever concrete advice are given and implemented within the organization.External sources of professional advice usually come from:

Financial consultant: provision of salient advice on financial statement, cash-flow statement, trading profit and loss account. Management consultant-provision of advice on management structure, planning and coordinating of activities, task allocation and definition of jobs, human resources planning, which would be based on division of labor and specialization. Legal consultant-every organization has a legal practitioner that handles legal matters of the organization. The practitioner advice on appointment of staff, legal relationship between the government and the organization, between management and staff and between business and business. It is the responsibility of management to improve on its existing financial records. Keeping track records on debt collection, payroll system, and financial auditing and balance sheet statement will definitely improve on existing weaknesses of the organization. Failure to abide to this financial discipline will definitely create bankruptcy and liquidation of the organization. Failure to abide to this financial discipline will definitely create bankruptcy and liquidation.

Finding new customers is the major challenge for Small business enterprise owners. Small businesses enterprise typically find themselves strapped for time but in order to create a continual stream of new business, they must work on marketing their business every day. Common marketing techniques for small business enterprise include networking, word of mouth, customer referrals, yellow pages directories, television, radio, outdoor (roadside billboards), print, email marketing, and internet. Electronic media like TV can be quite expensive and is normally intended to create awareness of a product or service. * 2.2) investigate ways in which existing performance could be maintained and strengthened As there are lot of small businesses enterprise across the globe, it is necessary to maintain sustainability and survival. The act of maintaining and strengthening existing business by management and show proprietorship is quite difficult and complex. But nevertheless, it is a responsibility bestowed on owners to maintain and strengthen their projects or organisations. These factors or elements are characterized with the maintenance and strengthening of existing business: MARKET SHARE/POSITIONING: market share is the number of customer’s portfolio attached to that business, and it is always determined in percentage. A given percentage must be maintained as a market share in order for sustainability and growth. BUSINESS PENETRATION: the strengthening of a business requires constant and persistent market penetration in all corners of the segmented markets by reducing the price for products and maintaining quality product and delivery. CUSTOMER RELATIONSHIP: existing business must establish cordial and friendly relationship between the organisation and its customers, regardless of whether the customer is an existing or potential one.

Maddox Smith

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