LO1: Be able to investigate the performance of a selected small business enterprise1.1 produces a profile of a selected small business identifying its strengths and weaknessesThe Micro and small enterprises plays important role in the growth of the country’s economy hence it becomes vital to understand the concept of SME and further there is need to support and understand these businesses. Small businesses between 10 to 30 employees dominate numerically in Jordan.
Most of the people who run such small businesses are self-employed. For example a person running a restaurant or a caféCase study:Turkish Pasha Restauranta small restaurant located in Jubal Al Hussein Amman Jordan?Mission ; Vision VisionTo be the market leaders in our business with a commitment to service, quality and valueOur MissionTo continually strive for the best in everything; the best in service, the best in food quality.Our Objective Development of our products, services, systems and the overall quality of our operationsTo increase the annual revenues or the profitsNumber of Employers 15Owner Samer al faresTheir customers often offer meals: fried chicken: shawarma sandwich – fried potatoes – hamburgers as well as snacks, salads and juices.
It focuses on providing excellent services to its customers, which include wonderful food and quick service. The restaurant enjoys a relatively good location in the center of the commercial market.SWOT Analysis of the Selected Small BusinessThe method of SWOT analysis is considered to be very important tool for marketing which helps to successfully identify the strengths, weaknesses, opportunities and the threats associated with the concerned enterprise.SWOT Analysis of the Turkish Pasha Restaurant –Strengths1. Excellent quality of food 2.
Excellent location3. Has been successful in building strong reputation among the customers4. Significant growth in the salesWeaknesses1. not use Technology 2. short menu and delay in providing services to the visitors 3.
Brands offered are less known to the people 4. not have Free delivery1.2 carries out an analysis of the business using comparative measures of performanceThe restaurant’s performance can be measured by the quality of the food and the services it offers in the restaurant.In the case of the Turkish restaurant Pasha, the restaurant gets the benefit by keeping it to the grilled Turkish chicken recipes on charcoal.There is a competitor with a Turkish restaurant next to it but the competitor lacks the great space of the Turkish Pasha Restaurant, as well as the decor and the lounge service offered by the Turkish Pasha is much better than the competing restaurant.Financial profits can also help to calculate the performance of the organization because the financial aspect of the restaurant is strong as it has built a brand image in the market and the food quality is also better.
The comparative performance is the quality of service they provide.Compare the two restaurants:Turkish Pasha Turkish RestaurantThe largest area is less spaceThe decor is new decor is oldHigh-efficiency machines need to be renovatedExperience is better less experienceA lounge for family’s small lounge. On a sales basis performance can be assessed.Sales of the Pasha Turkish restaurant are the most during the season compared to nearby restaurants.Opportunities – The use of advanced technology can be used compared to competitors as an opportunity to acquire better businessThe use of technology in the food industry The development of new machines the application development Android application for external orderThreats – The opening of the Azalea restaurant and the Hennie restaurant could threaten market share2 Be able to propose changes to improve management and business performance2.
1 Recommendations with justification to overcome the weak and threatening aspects.The weaknesses which are mentioned above are the concerned situation for the restaurant. The organisations need to overcome these threatening aspects. The change in environment is the continuous weakness that is present in the organisations and the organization need to keep this as priority to resolve it.In restaurant industry, the change is something which is required time by time because customers get bored with the same treatment and the taste the restaurant is offering, because the motive of the customer is to enjoy their free time by providing value in return they always expect something new offerings.Delay in service is the weakness in the Turkish Pasha Restaurant which can be overcome by appointing extra necessary human resource management , availability of inventory all time in stores so that in event of shortage the materials or ingredients are available ; proper inventory management should be inbuilt in the restaurant.
This would reduce the delay cycle in serving foods and beverages to the customersTechnology allows a business to get competitive advantage in the market with advanced technology. Quality of products can be improved, production can be increased, and usage of good technology can lead to reduction in cost involved in manufacturing units.Restaurant name promotion should be used by social networking sites to increase brand reputation among customer and strengthen the relationship with consumers, leading to increased market share The free delivery service must be secured to gain a competitive advantage, which increases its market share2.2 Analysis of ways in which current performance can be maintained and strengthened.The current performance of the restaurant can be maintained by developing attractive strategies to keep the customer longer.Stay informed of new recipes and Turkish spices available in the market.
Provide a TV screen and display Turkish series to enhance the popularity of customers and enjoy Turkish food with a good time watching their favorite series.Make changes between year and year in decor to suit Turkish tradition to attract customersDevelop sales system and use of technology and Android applications to provide customers with new recipes and dishesConducting some competitions and offering free dishes to the winners would enhance the relationship between the restaurant and the customers2.3 Recommendation with justification, new areas where business can be expandedIn the current scenario, the project is located in the catering industry and must continue to operate in the same field and expand its business. This is because the organization has full knowledge about the same field.To increase market share: Market share can be increased through marketing effectiveness and promotional activities.
Provision of modern technology through the special application of the restaurant in order to make reservations and outside ordersFree delivery and an increase in the number of vehicles fitted to deliver fresh food to the consumer.Internally, it is possible to conduct good training for food preparation workers and the way in which they are best served.Maximizing profit:Launching a new or innovative food dish can lead to monopoly and better leadership of profitability. Increasing product quality can help improve profit.Creating new dishes will not be too difficult for management.
3-Be able to revise business objectives and plans to incorporate proposed changes3.1 produce an assessment of existing business objectives and plansObjectives and plansTurkish Pasha Restaurant is achieved the first objectives in now. Because their daily customer is 300 per dayConsistently provide finest fried chicken Restaurant used the high quality chicken -fried potatoes – hamburgers Turkish Pasha Restaurant has: Provided a customer with quality product at a competitive price Provided the customer with a more convenient method for obtaining their desired productTo increase the annual revenues or the profitsNew Business Plan of the Turkish PashaMarketing aims and Objectives: Turkish Pasha Restaurant, is in need of expanding its existing customer base to 10% by 2019 hence, its business plan will highlight the estimation of the number of customers it needs to double, and enhances its profit margins for standing the aggressive market competition.
The restaurant should also give genuine efforts in making the best use of online marketing tools through social media tools like Facebook twitter instream and many more.3.2 Revise business plans to incorporate appropriate changes In case the niche marketing strategy of The Turkish Pasha Restaurant is not producing good results, it is not mandatory. Activity of changing the marketing strategy The restaurant needs to understand the right time of revising the plan, which obviously should be any change in the business environment and market conditions, change in customers’ behavior.
For example, regular reviewing of the forecasting might bring a change in its business beliefs.For incorporating changes in the business plan The Turkish Pasha Restaurant can remove few objectives or amend them. Moreover, it needs to undergo various measures while evaluating and executing the strategies.
Ahead of exercising any major change, the restaurant needs to predict its prospective loss because taking bad investment measure will bring in more losses. The owner should ensure that there are enough funds for implementing the changes. It should take into account a comprehensive observation of the business environment along with considering breakeven point analysis for measuring its current and future performances.
The Based on the restaurant’s objectives of growing at least 10% from its current customer base, the budget might look likeBy calculating the project budgeting, the restaurant can gain an estimate of its monthly expense and further identify if some unnecessary expenses are made and what are its savings.The Turkish Pasha Restaurant marketing strategy will be focused at getting new customers, retaining the existingCustomers, getting customers to spend more and come back more often Establishing a loyal customer base is of a paramount importance since such customer core will not only generate most of the sales but also will provide favorable referrals.3.3: prepare an action plan to implement the changesIn order to implement the changes there is huge requirement of creating the set trajectory and following the process in proper manner. The action plan includes the strong communication and quick decision making process. To implement the changes first of all the management is require setting up their meeting with food magazines just to promote their name or important cuisines.
The signature dishes must be mentioned into the magazines. Thus here the magazines must be targeted in proper way (Donnelly and Harrison, 2009)The changes in the structure and system will strengthen the performance level of the organization. These will bring confusion and misunderstandings among the staffs which can disrupt the business process of the restaurant. Thus change management is the only way that can implement the change in the organization effectively by considering all the stakeholders. The business environment is dynamic and for that changes are required to cope up in order to manage the business successfully in the following territory.
In the perspective of the small restaurant, Kurt Lewin’s theory of Change Management can be applied which will help the restaurant to overcome the changes by restricting the resistance factors. Figure 4, Kurt Lewin’s Theory Unfreeze: This is the initial stage where the owner of the restaurant relates the relevant changes to the employees by showcasing the inefficiency in the existing process and plans. The scope of the business will be increase if the changes are applied. These activities are needed to be figured out and shared to the employees in order to understand the importance of the change. At this stage, several questions will arise from the employees and replying them tactfully is needed (Bo’s Brewers, 2010).
Change: At this stage, the changes will be adopted and the staffs will follow the new process in the restaurant in order to give their best for the business growth. The positive belief of the employees will grow in this stage when they will observe the benefits of the changes in the new process and motivate them accordingly.Refreeze: This is the last stage in this theory where the changes will reflect the benefits in the work process. The reduction in the level of misunderstandings will be observed and the organization can get the desired level of the productivity from the staffs (Jones and Robinson, 2012).LO4: Be able to examine the impact of change management on the operations of the business4.1 report on the impact of the proposed changes on the business and its personnel