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Managing Small and Medium Sized Enterprises - Ensoft

University: University of West London

  • Unit No: 11
  • Level: Undergraduate/College
  • Pages: 8
  • Words: 2000
  • Paper Type: Business Plan
  • Course Code:

    HRM4002

  • Country: UK
  • Downloads: 0
Question :

An explanation is drawn for understanding the challenges and complexities faced by SME's.

  • Explanation of the nature of entrepreneurs.
  • Demonstration of procedure of startups
  • understanding the business concept for gaining a competitive edge.
  • Demonstration of existing demand level.
  • Elaboration of growth and business development.
  • Explanation of challenges faced at the time of running a business.
  • Explanation of current growth opportunities within SME's.

Description of support provided by the government.

Answer :
Organization Selected : Ensoft

EXECUTIVESUMMARY

For effective management of small and medium business need to consider many factors which are present in market. This will provide the opportunity to improve their understanding and implement the strategies according to that. Ensoft is small organisation which provides readymade software’s to clients. Through following of the different steps of development strategy contributes in attainment of the sustainability in their operations.

INTRODUCTION

Management of small and medium size business is difficult tasks. There are many challenges are faced regarding availability of funds, human resources, high competition etc. There are many factors are present in business environment which has direct impact upon their business and reduces their capability of improving productivity and profitability. It is the duty upon the management of organisation is to frame different strategies and business plans which direct employees in performance of different tasks. Ensoft is small organisation which builds tools and processes which improves quality, security and helps in management of variation (Wynarczyk and et. al., 2016).

In the present report explain about nature of business, the process which is involved in starting up of business, sources which to attain competitiveness, current level of demand and competitive environment, development of the business in past years. Also, about challenges which are faced while conducting business and governments support to respond such challenges.

TASK

1. Nature of Ensoft

It is UK based organisation which manufactures ready to use software’s for construction applications. It is small in nature around 73 employees are working in organisation to provide their business activities. There are many software’s are prepared by this organisation but some of them which are used by the reputed organisation includes Road-Master and Barbeque software. Ensoft is small organisation in nature which main aim is to run their operations in successive manner to attain sustainability in operations. This organisation is working in software industry which provides ready made software’s for external organisations. There are many years are passed way to provide their functions in more appropriate manner. The process which is mainly used by the organisation to conduct research is known as primary method through most reliable information is attained by organisation.

Aim: The main aim of organisation is to build such tools and processes which contribute their effort in improvement of the quality, security, management of variation and cyber-physical systems. Another objective of Ensoft organisation is to attain sustainable growth in their business operations through determination of factors which affects working and becoming a leading software organisation in UK.

Nature of business

There many terms from it is easy to understand the nature of business, some of them are mentioned below:

  • Limited budget: One of the major perspectives of small business is that it works in less amount of budget. So, many difficulties are faced in conducting their business activities in optimum manner. It restricts Ensoft like use of innovate technologies.
  • Community based: The main focus of Ensoft is to produce software’s which serves the need of their clients.

2. Process need to follow for starting up business

Every entrepreneur is required to go through from different stages to start their own business which is defined below:

Research of market: It is necessary to understand about the impact of external factors, current trends, behaviour of clients, competitors which are already prevail in market. The process which is basically used for the purpose of research is primary method through unbiased information is gathered which is true in nature. There are many tools which are included under primary method which are known as questionnaire, survey, poll etc. This method is used by the researcher of Ensoft to get true information about the factors which are present within the market.

Protection of intellectual property rights: It is important for technological organisation is to secure their inventions and ideas through use of the tools of patent, copyright, trademark etc.

Branding of organisation: Every organisation is need to make decisions regarding branding of their products through which their products are known in between the market and clients (Thun, Drüke and Hoenig, 2011).

Incorporation: Starting of the business activities through selection of any of the mode like partnership, sole proprietorship, and limited company.

Preparation of business plan: Formulation of plan which consists their objectives, vision, mission etc. This will used for direction of employees while giving their performance within the organisation.

Fixation of workplace: Here, need to fix their workplace which is used for the purpose of conducting their business operations and for mailing official documents as permanent mailing address.

Determination of leader: Here, need to identify leader which leads the whole organisation as team.

Taking support of outsiders: This includes discussion with professionals to attain solutions of problems.

Raise of capital: Last step includes funding for starting business operations. Otherwise, not possible to start up their own business (Smit and Watkins, 2012).

3. Business concept and sources of competitive advantage

Business concept: Through analysis of the business concept, easy to understand about their products and services, marketing approaches and their target segment.

From the analysis of the business concept of Ensoft, observed that the main aim of organisation is to develop the software’s to provide security and quality. The target market of this organisation is construction companies. The present marketing approach is that use of online mode to spread awareness in market.

Sources of competitive advantage

The different source which helps Ensoft to attain competitiveness in their operations is defined below:

  • Employees: These are asset of organisation. The skills and knowledge is never copied by outsider. Working efficiency of employees helps the organisation to accomplish their goals.
  • Present organisational culture and structure: It is the duty of management of organisation is build culture of organisation stronger. This will contributes in removal of differences among the employees and contributes in effective coordination and communication within the organisation (Santos, Mendes and Barbosa, 2011).
  • Process and practices: It includes about the application of innovative approaches which helps the organisation in creation of unique features in their products which are more valuable from their competitors. It helps the Ensoft to build better software’s which improves their image.
  • Technologies: One of effective source which helps the organisation to take competitive advantage in market in emerging new software technologies. This will enables Ensoft to effectively survive in market. The different type of technologies which are used includes cloud technology, wireless techniques etc.

4. Current level of demand and competitive environment

Current level of demand

It is observed from the market analysis the demand of the different software’s of Ensoft is high in market. This will be achieved by the organisation because the clients get the readymade software’s which provides more quality, safety and management variation features. It enables them to accomplish their work with more efficiency. Some of the software which is used by the reputed organisation includes Road-Master and Barbeque software.

Competitive environment

It is observed that in technological filed competition is high in UK. Due to the impact of Brexit many initiatives taken by the government which supports small entrepreneurs to flourish their businesses. This will bring high competitiveness in market where many other organisations are working and providing same kind of software’s.

5. Growth and development of the business over past years

Past year performance of Ensoft

2011

2012

2013

2014

2015

2016

EBITDA

600936

781677

1209518

1600823

1723810

Profit after Tax

217849

339646

613280

1025475

1185706

Working Capital

3364439

4241614

4622761

4739258

5758066

Employee Numbers

42

44

58

62

65

Total Liabilities

2256191

2572244

2642656

2983298

3702930

Total Assets

5648346

6185747

6637145

7332151

8598253

Reporting period

12

12

12

12

12

Turnover

10050170

9770009

9112834

10255579

11608761

Net Assets

3392155

3613503

3994489

4348853

4895323

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