Small Business Ent. 1. Investigate Performance of a Selected Small Business Enterprise.

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1. Investigate performance of a selected small business enterprise.
1.1
J&S furniture is a furniture manufacturing company owned by two brothers John and Smith. J&S started operations in 2006 and there is a satisfactory growth in this business since then. However there are fall in turnover in some months as well. J&S import wood from Asian countries and manufacture furniture. Company had been able to get massive discounts from its suppliers because of bulk buying so this had helped them to keep their cost under control.
However government policies such as taxes on imports, interest rates and exchange rates have had negative impact on this business.
Taxes on imports
Since UK government is taxing heavily on imports from non EU countries
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Since internet has a global reach J &S should advertise in the internet because it will help them to increase their market share.
J &S should carry out a market research and find out customer's needs and give offers according to their needs. If this approach is used J &S can maximize its sales revenue in all the branches.
3. Revise business objectives and plans to incorporate proposed changes.
3.1
Since UK is in a economic crisis company is planning to open up at least two branches in another EU country such as France and Germany in order to increase the market share and spread the risk J &S is planning to fund these new projects from their retained profits.
Action plan
1st Nov 2008- Have a meeting with all the partners and discuss their opinions in order to do necessary amendments to the plan.
15th Nov 2008- Explain the workers about the new project and make them understand the benefits of this.
31st Nov 2008-Examine the new market and identify the needs of the new customers.
15th Dec 2008-Contact the suppliers and order the raw materials needed for the products.
1st Jan 2009- Open up only one new branch.
1st June 2009-Compare the actual results of the new shops with budgeted figures of the first six months if they are achieved the targets that means the company is functioning

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