Small business enterprises are those which have less financial and non financial sources. Owners of small business enterprise employs less number of workers for performing their business operations. Further they don't have high turnover and revenue, they usually works on small projects. Small business enterprise generally operated by private owners means they don't have ownership of public or government(Bridgeand O'Neill, 2012). In this report Windsor house hotel and its profile has been explained so as to find the strength and to analyse weakness of entity which allows the users to measure the performance of firm. In this report a comparison has been made in accordance with various techniques which can be used to compare the performance of an entity(Stokes,Wilson and Wilson,2010). It has been recommended in presentation that in which area Windsor house hotel can expand its business operations. Cited entity has its hotel at London and they deals in bed and breakfast activities also known as B&B
1.1 Produce an assessment of existing business objectives and plans
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Windsor house hotel is a firm which provide food and accommodation facility to its customers. The main objective of owners of cited firm is to provide quality of food to its customers and to provide comfortable accommodation facilities to them. Through such objective they can satisfy their customers which allows them to lead the targeted market and to acquire a major share in it(Altman, Sabato and Wilson, 2010). For the establishment of organisational objectives and goals, managerial personnels of entity take certain decisions and make some strategies which help them to achieve those predetermined targets. Development strategies may include reduction in the price of rooms and food services through which they eliminate several rivals from the market. Further better quality of food with luxurious interior and lavishing accommodation facility are some other factors which shows the objectives of business entity. That they want to dominate their rivals and to earn a major share of targeted market(Storey, 2016). Their objective is customer satisfaction, as it is the main factor which approves the validity of cited firm. Their management of available finance represents that they are properly concentrated over their financial needs and requirements(Burns, 2010). Cost reduction strategy has been implemented by managerial team of Windsor house hotel which means they using such techniques through which their cost of production or cost of delivering services gets reduced which further allow them to earn a high margin of profit and assist them to reduce price of product without any problem(Carraher and Paridon, 2015). So that the customers can get attracted towards its products and its rivals can make a way to exit easily from such targeted market.
1.2 Revised business plans to incorporate appropriate changes
A company and its management uses revised business plans which is necessary to incorporate appropriate changes in organisation so that they can achieve their organisational targets. In modern world customers changes their desires every day, due to factors like technology, quality and taste organisations are continuously researching in vital areas which can generate better results with efficiency and effectiveness(Raposo and Do Paço,2011). A flexible business plan is necessary which can cop up easily with dynamic business environment. Windsor house hotel deals in food and accommodation services so they faces a lot of such challenges regarding customers needs. As now a days living standard of people in society is increased(Chell,Nicolopoulou and Karataş-Özkan,2010). They already resides in luxurious houses with all facilities hence they demands more luxurious hospitality from cited entity. A better interior can work as a tool to attract customers and to offer them a luxurious life. Hence owners of Windsor house hotel needs to invest in a quality work of interior which also reduces the cost of refurbishment.
Analysis of customer desires helps cited entity to offer them the products and services which they desires. They can develop their payment modes so that costumer will find it easy and hassle free. Managers of Windsor house hotel can provide better amenities with guarantee so as to attract several customers towards its services and goods(Rae, 2010). Revised business plans must be made as per the trend of the targeted market so that the steps which the organisation will take against such changes can easily cultivate the desired results. When managers and leaders of an entity sets a business plan then they should continuously research over the market environment which assist them to get data related with trends(Chittithaworn et. al., 2011). Such data and factors should be implemented within existing plan so as to make a revised business plan.
1.3 Prepare an action plan to implement the changes
An action plan can be drafted by Windsor house hotel for conducting operations of organisation in a better way. After setting up the goals organisations should draft a better plan in order to chase the targets. Implementing action plan allows an entity to get sustainable development. As action plans are drafted in a way so that organisation can concentrate over specific audiences(Cowling, Liu and Ledger, 2012). The steps which are necessary to follow in order to draft an action plan for implementing changes in operations are mentioned below :
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Windsor house hotel and its management requires to ascertain the goals so that they can make a targeted strategies in order to achieve the desires objectives. Determination of targets allows the employees of an entity to quantify it. Through which they can easily attain them and fulfil their responsibilities(Olson and Staley,2012). Without any purpose a person cannot make a sincere effort towards anything hence setting up purposes allows performance comparison and brings productivity.
Assessment of institutional rules and roles
There are some rules and laws in every organisation hence managerial personnels needs to analyse such rule and laws which gives shape to the current position and they also assist in implementation of various potential solutions for meeting success(Fassin and et. al., 2011). Rules can be informal and formal which decides workplace behaviour. Roles can be defined as those people and their responsibilities who are responsible for maintaining sustainable development. On the other hand tools are those workplace techniques and system through which various needs can be fulfilled easily.
Development of Action plan
Proper analysis of environmental factors is necessary in order develop an action plan after following the first two steps now the managers and leaders of Windsor house hotel can make an action plan(Nga and Shamuganathan,2010). Identification of linkages among different financial and non financial resources helps an entity to develop a proper and effective action plan.
Implementation Of Action Plan
After developing the action plan Windsor house hotel requires to implement such action plan so that they can get desired positive results.
Measurement and Evaluation
This is the last step in preparation of action plan as in this step the personnels will evaluate the action plan drafted by them for Windsor house hotel and they will check that estimated results are obtained or not.
1.4 Report on the impact of the proposed changes on the business and its personnel
For efficiently developing business entity and its operation it is very necessary to concentrate over every single aspect which may affect the organisational process(Forsman and Temel,2011). Considering each and every factors helps an entity to achieve its purposes for which it exists. Business condition changes as per the change in time. Marketing environment consists such elements which changes very easily which means environment is dynamic in nature and it never remains stable but it keeps on changing. Hence it become necessary for a firm to cop up with the changes so as to ignore the improper maintenance of organisational resources and to get better and satisfactory results(Gronum,Verreynne and Kastelle,2012). When guest visits in the hotel premises then they desires to get a humble welcome and a lavishing interior with mouthwatering cuisines. Hence after making proper changes in organisational policies Windsor house hotel can entertain their customers or guest in a much better way. Through making changes entity can operate their tasks as per the trend and they can get benefit of customer satisfaction.
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1.5 plan how the changes will be managed in the business
Management plays an important role in managing business operations. This will ensure proper development of its condition in market at which it conducts its operations. There are certain ways through which an entity can manage various changes in business. These are mentioned below :
Accept the Changes
Windsor house hotel can get success in its operations if it accepts the changes of business environment because without accepting such changes an organisation cant run its business activities efficiently.
Entity usually manages their work when they found the changes impacting upon staff(Islam and et. al., 2011). Thus management should foster an environment of openness. They can establish trust and loyalty through maintaining a system which allows employees to communicate with leaders.
Training staff can be given by the managers and experts of Windsor house hotel so that they can easily cop up with changes and they can provide fruitful results to their superiors.
If top managerial personnels accept the inputs of their subordinates then they will feel motivated and on their personal discretion they will try to improve their performance for next time(Jones and Iredale,2010). Labour force is considered as the main strength of any organisation hence their inputs in organisational operations should be appreciated.
Aforementioned are some steps which can be taken by management of cited entity so as to manage organisational resources and manage various changes of business environment. Changes should be managed on time so that entity can exploit the opportunities and they can extract the required results from them.
1.6 Monitor improvements in the performance of the business over a given timescale
Windsor house hotel performs several task like providing accommodation to its customers and to provide them food of different cuisines so these services includes various processes which needs to be maintained and monitored in a way which allows them to properly maintain their business functionality(Lambert and Davidson,2013). Continuous monitoring of organisational process helps an entity to improve their performance as per the time. Process of performance improvement takes long time to complete so organisation needs to manage it in accordance with the availability of time. Further maintenance of consistency in monitoring of performance and process is necessary because inconsistent monitoring will not give any successful results further it waste the available time. As small business entities like Windsor house hotel has less availability of capital which means they cant bear losses continuously hence they requires to effectively monitor the process of their projects so that they can yield better results. Monitoring include setting short term targets and drafting strategies to adopt such purposes(Malhotra and Temponi, 2010). It assist cited entity to analyse its performance through different techniques so that they can ascertain that where they are standing and how far they are from their prey. Monitoring helps an entity to achieve its performance which they desires. In many cases customer satisfaction and trust of employees works as measurement tool to measure improvement in level of performance. Continuous monitoring assist an entity to identify its treats and it also helps in determining its strengths.
In this above mentioned report it has been mentioned that how Windsor house hotel which is a small business enterprise at London can maintain its financial and non financial resources in a way so as to attain desired targets. Readers from this report and presentation can get a brief view of how cited entity operates its operations. Further its strength and weaknesses are identified in presentation part which needs to be handled with care so that strength of cited entity can be utilized against elements of business environment and it can overcome its weaknesses. There are several ways which are defined in this report through which they maintain and strengthened their business performance. As small business enterprises have less availability of cash hence they requires to maintain these resources in a way so that they can get maximum returns out of available resources. Further this report also includes various ways and importance through which they can monitor their performance.
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