Introduction
In the food industry there are various small medium-sized enterprise that help them to generate the revenues and earn more profits. Thus, they contribute towards the economics development and also increase GDP of the country by increase sales as well as create more jobs. The report in context to the to the hungry house holding limited is that they are highly capable in recovering the cost that arise at the time of running business that resultant into enhance the company sales in consist manner (Wilson and Markland, 2014). Thus, they should adopt the company resource enterprise planning software programs through which the managers able to transacting the with each financial treatments and also able to earn incomes. They can effectively controlling cost whether they are direct or indirect expenses that can be capable in controlling in appropriate manner that leads to generating more revenues which leads to increase higher profits in future financial timing period.
Task 1
1.1 Produce a profile of an organisation
The Company Dragons Den have a different firms that obtaining the financial services for the purpose of expanding business. Thus, from all the organisation that are one firm that are selected that are as described as follows-
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Company Name |
The Hungry holding Ltd are under food industry where they operated their business by providing food products in London's Local community. |
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Structure of owner |
There are two active main directors within the hungry house Company run their business in food industry. The main officer or directors are under this that are described below: The MRONGOVIUS, ALICE LISA: They are the main director of the Hungry holding Ltd who are appointed within the company on the effectual date on the month February 1, 2016. He play a greatest role for director and the another occupation of him is Chief executive director. OBTBERG, NIKLAS: They are also one of the main director that are appointed within the organisation on the effective date on the April, 25 2012(Stachowiak, Clark, Templin and Baker, 2010 ). They play their work as a director and also he is a managing director of this particular company are the Hungry House limited. |
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Organisation history |
The Hungry house limited are mainly found in the 2007 year under the food industry in the London city. Thereafter, they are mainly incorporated on the month April 7th , 2007. They deliver the food products and offer a better quality of services in the particular target segment for the purpose of increasing profits. |
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Business activities |
The most important activities of the company is that they deliver a foods products or services by the modern technology such as social media to the customers. |
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Firm location |
The Hungry house holding are the London based firm an there Location are as described below- Blue Dot consulting limited, Chester House Fulham Green, at the 81/83 Fulham high street, London, SW6 3JA. |
Hungry house holding Strength and weaknesses
Strengthen:
- They offer the nutritional and hygienic food products to the targeted customers of the London market.
- They have a capability and ability to effectively able to recover the starting expenses and cost (Singh and Nakayama, 2015).
- They have strong brand image and goodwill in the minds of customers in the marketplace.
- There are various types of unique food dishes that are able to retain and attract the several number of consumers from the target marketplace.
Weaknesses:
- The major weakness of that particular company that is hungry house limited which has no presence in the wider marketplace.
- The another weakness of this company is that they does not have a various types of promotional and advertisement activities.
- They have not appropriate strategies to maintaining the level of inventory.
- There is a lack of development and training session in the Hungry House limited.
1.2 Carry out an analysis of the business using comparative measures of performance
In the food industry in which there are several small medium-sized enterprises which are currently operating their business in food or services products at local community of a particular country. The Divine Organic Foods Companies is the main competitor of the Hungry house Ltd Holding that was mainly incorporated in the month of October 29th in year 2009. They both are the main company who are mainly operating their business in that particular the food industry and there is a financial performance that are mainly described which are as described as below-
Interpretation: There is a table that are mentioned above in which there is data and figures that shows the performance of both the company that are Hungry House Holding limited and the Divine Organic Food Companies UK limited (Samli and Senkoylu, 2010). The above figures shows the net profit and company sales that are described further in it has been interpreted that there is a downward flow of the profit as well as sales at the starting stage. Thereafter, these both variables are increase continuously over a the particular timing period. It ha s been analysed from the above data and figures in which it has been said that Hungry house limited are capable of producing revenues in the year 2010 that have a 8000GBP. Beside this, there competitor of this cited Company producing the sales revenue generating that are ½ of £3000. Apart from this, it has been analyzed that both of the Company's sales profits are now goes downwards that in the accounting year, 2012.
Thereafter, the Hungry house limited sales as well as company Divine Organic limited are increase consistently in the financial year from 2012 to 2016. Thus, in the accounting year,2013 the sale of Hungry house limited and the competitor Divine Organic limited the sale profit is £9500 and £4000 that are respectively. Furthermore, the profit of the cited Company and its competitor under the food sector that are £2185 and £720 which was in the year, 2013. Thus, the data and figures show that both the organization under the food industry have a capability to attract the customers from the target market that leads to earn higher profits and increase sales of its products or services.
Thereafter, they generating revenues and profits of the both company are improve frequently and that attain at the £12900 and £3870. Therefore, the competitor of the cited Company are capable in producing the more revenue in the accounting year that reaches up to the £9700 and £2037. The hungry have a effective techniques that assist them to attracting the potential customers and able to control production cost as comparison to Divine organic limited(Munoz-Price and Quinn, 2011). It has been also analyzed that if there is a comparison among both companies in which it said that hungry limited Company have an ability to recover the expenses at the initial startups and it has a brand image in the mind of customers in the market than the divine Company. Thus, there are various reason regard to Hungry house holding limited is that they are capable in earning a higher amount of sales profits and generate more revenue at the financial year.
Task 2
2.1 Appropriate action to be taken to overcome from the weakness and the describe the appropriate justification
Each firms are finding out the ways to minimize the different types of weakness that are facing by the company in the business environment. It does not matter that the company is operating in what industries whether they are food industry and any another segment. Thus, to overcome from weakness the organisation finding out the ways to reduce by implementing in different situations. The management of a company adopts the different type of tactics that assist them to increase the business performance in that particular target marketplace. In the present case, the hungry house holiding limited which deliver the food product through social media or online platform and also deliver their services though offline trading. Thus, these are major weakness of this particular company and there are several weakness of this firm as they does not opt the effective marketing and promotional strategies that are highly impacting on their sales in negative manner (Mafamane and Scharek-Tedin 2011). Furthermore, they are not able to handling the large stock at the same time of food products and one more weakness is that have not appropriate training and development session to improves the skills of its staff workers and aware the customers. Please refer to the sample of Qantas Airline
Therefore, for the purpose of minimizing the all weakness that are discussed above regard to the weakness of the hungry house limited company. Thus, to overcome from these weakness the cited Company should adopt the effective advertisement strategies and also promotional strategies for the purpose of enhancing the sales and capture the wider marketplace. Thus, there are various types of advertising tools that are available in the market but the company choose as per their situations. It directly able the Company to effectively promoting their foods products in the target market and also able to capture market by delivering the food items in that particular segment. Therefore, in context to the cited company as is that they should adopt the social media website for the purpose of promoting their existing as well as new products items as nowadays most of the people are keep in touch with the latest technology are the internet. Thus, this type of strategies are most effective that capture the large market share at very low cost of promotion and it gives the better returns for that particular strategies. Thus, it assist the company to effectively overcome with their weaknesses if they use this particular promotion and advertisement strategies that are discussed below.
Along with that, the cited Company can used the various tools that are analysing the pattern and re-order level that able them to sell the food items in that particular market segment. It can effectively managing the inventory stock of food products and maintain the raw material in effective manner. Therefore, the company should adopt the just in time strategy that assist them to manage the supply of food products or services at particular the right timing and manage the stock levels quantity (Liu and Ling 2014). Thus, this technique are widely used by most of the companies and the cited company should adopts for the purpose of managing the food stock items. In context to overcoming from weakness of hungry house Company is that they necessary to hire a highly skilled workers so, they can able to manage each situations. Therefore, the above strategies that are adopted by the Hungry house limited is that to reduce their recent weakness and develop the high skilled worker in effective manner.
2.2 Analayse the various ways in that the existing performance of the Company is maintained and strengthen
Each organisation have a strengths in kits industry in that it assist them to effectively run the business functions in effective manner. It directly leads to enhance sales profit and generating more revenue at the accounting year. The major strength of hungry house holding limited is that as they are able to deliver the hygienic food items and have an ability to cover the initial start up expenditures. Apart from this they can able to build a strong brand image and develop a unique as well as innovative food dishes. The most recent strength of the company is that they can enhance the business performance of the company so, can manage through adopting strategic approach. The company maintain their existing performance by adopting the strategic approach. There are various strategies as well as tactics for the purpose is that to make use of high-quality of nutritional product that are mainly checked through the measurement of quality such as trademarks, ISI and food association etc.
Therefore, the management of the company are able to make usage high-quality of items in the products that consist of betterment and rich nutritional which able them to deliver or serve the good quality of foods product to the consumers. Thus, the type of nutritional products are not affecting on the consumers health of consumers in negative ways that resultant into attracting the consumer in large. Thus, they are able to purchase the food items in effective ways than the competitive industry rivalry companies (Li and Tong 2014). In context to the hungry house holding limited is that they are highly capable in recovering the cost that arise at the time of running business that resultant into enhance the company sales in consist manner. Thus, they should adopt the company resource enterprise planning software programs through which the managers able to transacting the with each financial treatments and also able to earn incomes. They can effectively controlling cost whether they are direct or indirect expenses that can be capable in controlling in appropriate manner that leads to generating more revenues which leads to increase higher profits in future financial timi
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