Unit 3 Small Business Enterprise – Shine Communication
3.1 Produce an assessment of existing business objectives and plans.
Shine communication has aimed to develop such business environment where every employee gets the opportunity to grow and shine. It seriously follows its mission statement which says: “when we let our light Shine, we unconsciously give others the permission to do the same”.
Objectives of Shines Communication:It has finalized six goals which are represented through its visions:
According to these goals, the teams prepare their own goals to accomplish the final objectives. These goals are annually reviewed to maintain the existing position and achieve the top position in the market. It regularly customizes its distribution channel and services to satisfy the customers and bring them closer to the company (The Holmes Report, 2012).
Business Plans: Employees’ performances against their SMART objectives are reviewed twice in a year. This review is essential to identify the current performance, skills and competencies of each employee and to prepare them for the next responsibilities and challenges. Shine Communication also prepares plans and strategies to motivate the employees. Motivational plans highlights the strengths and goals of each employee and helps in finalising the objectives for the growth of employees in the next financial year
3.2 Revise business plans to incorporate appropriate changes.
Business plans are prepared and evaluated to find out the current position and future prospects of the business. Business plans can be reviewed and changed according to the market conditions or business’s requirements. In order to expand the business in the field of marketing research, shine communication has to undertake various changes in the business plans including the policies, financial structure, employees base, methodologies and many more to accommodate the changes. To implement such changes, the company has to develop a business strategy to carry out the market research. It has to identify the methods and sources of gathering information. The collected information will be evaluated, based on its results, the methodology will be developed. Further, shine communication has to hire new employees as 50 employees are not enough to carry out more tasks, responsibilities and activities associated with new extended field. Promotional plan are also required to promote the new services of the organization. Shine communication is already a PR and marketing Communication Company hence; it can easily develop a promotional plan for the promotion of new marketing research filed among the existing and new clients and customers (Griffin, 2010).
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3.3 Prepare an action plan to implement the changes.
An action plan is required to implement the changes in the organization. It helps in understanding the requirements of the business and when the changes must be implemented (Cawsey, 2011). Action plan can be known as the process which prioritizes the action to be made to achieve the goals. Action plan has a proper process which starts from defining the goals & objectives, identifying the methods to achieve them, defining the duties, responsibilities of each employee, and preparing an emergency plan (to deal with contingencies).
In order to venture into the marketing research field, Shine Communication must prepare an action plan. Firstly, the methods to collect the market information must be identified. The company can create small groups to collect the information about the companies. In the action plan, the company must determine the standard time frame for each activity. The role and responsibilities of employees must be identified. It is important for the Shine Communication to recruit and select the best employees as per the responsibilities identified in the action plan. Meanwhile the existing staff must fulfil all their responsibilities and carry out the promotional activities to attract the new clients and maintain the existing client portfolios.
An action plan is prepared in the same format (as shown in the image above) which defines the activities to be performed, employees responsible to perform those activities, methods which will be used to achieve the targets and the time frame in which the activities has to be completed.