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BUS020N675A Small Business Management Level 4 Mont Rose College

935 Downloads I Published: 27 Apr ,2020

Introduction

In today’s innovative world number of companies are emerging with creative ideas for gaining maximum advantageous by satisfying clients needs or demands. However, numerous of small business are identified at marketplace with distinct motive and managing their business operations in more appropriate manner (Ackermann, 2012) . Just eat is small business entity engaged in offering online food services to desired consumers and trying to create positive relations with them in a minimum duration. Therefore, assignment is going to highlight the factors which shows that Just eat is small firm and ability to compete within food sector. Along with this, project is also focussing on various necessary elements of company in order to acquire in depth knowledge about the association. Moreover, report is showing an appropriate portfolio on three major subject area that must be covered while running a firm. At last, it is essential to suggest some suitable corrective path for company to make necessary changes as per situation demand or needs.

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Task

1) Eligibility of Just eat as a small business

Just eat is small firm by having their limited branches in UK in order to generate maximum revenue by satisfying desires of domestic as well as foreign users. In fact, company is totally qualified or eligible for considering as a small business because they are not having maximum outlets across the international boundaries. Along with this nor engaged with any foreign organization which shows that they are limited liabilities and situated in local arenas. Additionally, it has been understood that company is dealing in a local region across the UK but trying to expand their business in various other geographical area with distinctive motive. Small business are facing numerous of problems while dealing in marketplace due to fluctuation in several other internal and external factors (Blackburn, Hart and Wainwright, 2013) . Moreover, competitors are also emerging at market with number of objectives such as; gaining more or more benefits, making positive relations with clients, focus on existing marketing policies, strategies and so on. Therefore, it has been understood that Just eat is must going through several complicated phases which might occurred due to fluctuation in few major elements. It means, by analysing necessary facts or figures it is identified that anything can happen such as; Just eat is suitable as a small business but at the same also not due to fluctuating elements.

2) Background of an organization and its competition within sector

Just Eat is an online food order and delivery service, which acts as a third party between independent food outlets and customers, it's headquarter is situated in the United Kingdom and operates in almost countries (Bridge and O'Neill, 2012) . The purpose to choose this firm is, it's a small business company which offers a platform to allow its customers to search for local take out restaurants to place online orders and select a location for delivery. The firm was established by five Danish entrepreneurs one of them was Jesper Buch who founded Just Eat in Denmark in the year 2000 and services began in the year 2001. In 2005 a technology expert bought out all the business partners to the UK except Jesper Buch but in 2006 Jesper Buch moved to the UK and lunched the services in the UK, along with this it established the headquarters in the UK and also expanded its international ventures in Netherlands in the year 2007, which is followed by the Ireland venture in the year 2008, and after a few years it also expanded its joint venture in India. In the year 2011, the group was able to initiate its seven acquisitions with the profit of almost $48 million from its existing investment. The four partnerships launched new in new countries with the in house operators, namely, eat.ch in Switzerland, ClickEat in Italy, ReastauranteWeb in Brazil, Alloresto in France. In 2012, the company acquired its position in the United Kingdom by getting Urbanbite that brings it into the corporate world, YummyWeb in Canada to cover regions of Vancouver and GrubCanada in the Ontario and British Colombia markets (Bruton, Ahlstrom and Li, 2010) .

In April 2014, it floated on the London stock exchange and raised its share with 80%, it's Brazilian restaurant merged with one of its competitors, iFood that formed IF- JE in which the company has 25%. Throughout the study of company background it is analysed that company can easily deal at marketplace as well as compete with various other competitors in food sector due to their attractive marketing strategies and so on. Beside this, as per data it has been analysed that an organization is growing in a fastest way in every coming year by taking appropriate steps and initiatives. Although, success will take more time but still having full potentiality to survive in a current marketplace due to their outstanding policies (Burns, 2010) . However, number of factors are identified which shows that Just eat can easily cope up with upcoming problems and drawbacks with the use of creative ideas and talent. Some of the major element that shows that company can easily survive in a competitive sector is discussed as follows:-

  • Marketing strategy:- Promotional tools is highly indispensable for company success because with the use of effective plan of capturing attention an organization can easily gain benefits. Along with this, different strategy is useful in competing with high level of competitors within food industry because most of the consumers are addicted towards advanced equipments. Thus, company is involving in online services due to which they can easily beat their competitors in various manner. In fact, manage to establish their image at marketplace by grabbing advanced opportunities that is existing in a marketplace (Chittithaworn and et. al., 2011) . Hence, modern techniques of promoting goods is one of the major element that makes the association different from others as compared with rivalries.
  • Cooperation amongst employees:- Secondly, it is essential to focus on maintaining the environment of an enterprise in order to create a positive relations between employees and employers. As a result productivity of business entity automatically get enhanced in a minimum duration as staff members can automatically get motivated towards their personal and professional objectives. Additionally, it supports an association to get rid with any kind of business problems or issues because togetherness is most useful power which give potential to fight with any type of problems. Hence, Just eat is trying to make effective interaction between supervisors and subordinates for overcoming problems that is created by rivalry parties (Cowling, Liu and Ledger, 2012) .
  • Innovative ideas:- Just eat always believes in introducing something new or different which make the association differ from others in various aspects. Thus, managers of firm is engaging in offering qualitative and totally creative items to their desired consumers. Additionally, sometime they also involved in designing foods as per their client choice or preferences because it aids in making effective connection with distinct members. Although, making personal relations is not an easy task because it requires proper planning and lots of patience level because users consider every aspect before buying any product.
  • Methods of dealing with customers:- Major role or responsibilities of an organization is to serve consumers with outstanding products by dealing them in a suitable manner. For example; old age people and kids always prefer calm or sweet nature instead of rude and arrogant. Thus, it is indispensable for organization to make relations with clients as per consumer needs , age group, background and so on. Make sure that every member is getting treated in a proper manner without discriminating on the basis of various factors (Dennis Jr, 2011) .
  • Food products:- Items which is offered by an enterprise is of high quality and totally healthy that is beneficial for every age group of customers. It means, they are not using any harmful ingredients which may harm the health of society. Their main focus is to take care of users health by giving their 100% while designing food stuffs.
  • Sufficient funds:- Capital is a lifeblood for every organization because with the help of this elements business activities are managed or regulated in appropriate manner. In fact, it has been understood that funds is essential for company success because it helps in accomplishing business operations in suitable way.
  • Skilled and experience employees:- Company is having talented staff members which helps an association in dealing with various problems. Competition is increasing day by day due to changes in consumer needs and trends. Hence, presence of experience staff is indispensable for company success because it aids in handling several situation that might occurred at workplace.

By analysing above factors it has been understood that Just eat can easily compete with current competition market due to their effective strategies and lots of elements that aids an association in enhancing organizational image. Additionally, automatically improve the profit level of business entity (Down, 2010) .

3) Business portfolio on the company from three topics

It is not easy to run a business entity in a food sector due to increase in high level of competition at marketplace as it affects the success of an association in various manner. Although, portfolio of an association is going to highlight the major factors of an enterprise which may influence the profit of business entity in various manner. Along with this, it helps an enterprise in assisting towards corrective path in order to encourage them towards their personal and professional objectives. However, business portfolio consist of major three subject area which helps in understanding each or every aspect of firm in order to make strategy as per current need or requirement. Thus, three of them are described as follows:-

Ownership: It may be defined as ownership of property as private, collective and common by an individual. Property included any objects, land, capital and real state as well as intellectual property etc. in the term of laws, ownership defines those persons who have certain rights and duties and possessions over the property (Fassin, Van Rossem and Buelens, 2011) . It is also known as bundle of rights due number of rights or duties which can be separated by different parties. There are several types of structured ownership such as cooperatives, corporations, partnership, condominium association and trusts etc. Just eat is having an ownership of food department whose main motive is to serve consumers with tasty or delicious products living across the distinct regions. In fact, managers of business entity is trying to gain maximum minds by attracting users with various qualitative food items. Additionally, company is also trying to focus on their positive image at marketplace with the use of various strategies , theory and framework (skills of entrepreneurial development, 2017). Along with this, it has been understood that ownership shows the leaders and managers of an organization as well as distinct technique through which they can enhancing their organizational performance by satisfying clients needs or demand in a defined time frame.

Entrepreneurship is referred to a process running, developing, organising and managing a new business. People who create these business are known as entrepreneurs. They basically establish small businesses with the purpose of making profits. Starting a new business invites numerous risks, so it is crucial for entrepreneurs to identify possible risks and take prior precautions (Hall, Daneke and Lenox, 2010) . It requires great spirit for an entrepreneur to establish a business and is characterized by innovation, risk taking, decision making, etc. Prior starting a start up, entrepreneurs needs to finds out possible areas where they can make and increase their profits and also maximise their market share. However, while establishing a business entrepreneur is liable for every profit and liability because fund is invested by them only. Thus, it has been understood that this position is seen as very responsible as maximum responsibilities are fully depend on entrepreneur. Therefore, it is essential to plan every thing in appropriate manner by considering necessary terms and conditions in most suitable way. Although, success of small business is based on management of main person is entrepreneur.

Marketing is that which do consider various activities, involving promotions, advertisement and public relations. Moreover, success is mainly depend on the firm's owner for marketing their product and services effectively. If company “Just Eat” is having great items and better customer services, even though they do not get high sales as because people don't know about business exist. Basically, marketing is that concept which is considered as important for small business like “Just Eat”. Even though here are some marketing thing which does help in having business enhancement as:

Enhance prestige of entity: Generally, Brand name recognition is that which do help in enhancement of successful marketing. Even the people can make their perception for product and services as of high quality and will be having an higher customer satisfaction in great way (Ligthelm, 2010) . Hence, if marketing is managed in right criteria then the business is considered as successful. Although, communication with various client and customers on regular basis and listen to them which also ensure branding efforts made are effective (Schaper And et.al., 2014).

Face competition: Perfect marketing efforts of small business thus provide opportunity to them for competition with large business firms. Normally, the small entity are having an greater advantage of paying personal attention to each and every customer rather then large company. Even having an good sense of customer service and value are some of the important thing for clients which has lower rates can be paid to firm rather than of large entity.

Increase sales: Hence, if the marketing is being done in right manner, than it increases the chances of clients recognizing power for particular Brand efforts. Although this is that criteria which make different from competitors and also increase future prospect as well. Therefore, customer and client can also become a part of the marketing campaign with writing the better comment for “Just Eat” which help in service and product which recommend to company friends and relatives in right context too (Nga, and Shamuganathan, 2010) . Overall, these things are those which does help in increasing sales of company as the word of mouth promotion technique increases.

Strategic marketing: Strategic marketing is such which do encompasses some activities and those are as:

  • It helps in creating the marketing campaigns as this help in reaching large customers.
  • It does help in bringing innovation with product and services according to the customer needs and wants.
  • It is such which lead to determine the product through research of consumer with the observing various sales and pattern of different similar goods in their market place.

4) Recommendations and implication for business within its sector

By analysing all the above information it has been understood that small business management is facing numerous of problems and complication due to fluctuation in various external and internal factors. Along with this, face high level of competition due to emergence of several number of companies with innovative products and services (Preuss, 2011) . Therefore, it is essential to follow some specific suggestion to overcome problems faced by firm while running a firm is discussed as follows:-

  • Need to appoint skilled or talented employees so that they can easily overcome the complicated problems such as ; handled the high talented employees.
  • Improve the performance of an association by taking major initiatives like using modern technologies at workplace.
  • Usage of modern equipments in order to accomplish business operations in minimum time period.
  • Use modern delivering process by considering each or every aspects such as; consumer need or requirements, current trends, competitor strategy and so on.
  • Conduct motivational programmes or sessions for encouraging staff members towards personal and professional job role.
  • Come with numerous of creative ideas for dealing with high level of competition which is identifying in food industry.

Hence, it has been understood that all the above steps needs to implement at marketplace in order to cope up with major internal and external issues that is encountered by firm while running their organization in different regions. However, it is not easy to implement modern ideas at workplace because few members are not agree with changes as it may influence their comfort level. But at the same time it is indispensable to implement reformation so that company can easily reduce various success barriers (Schaltegger, 2011) .

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Conclusion

From the above report it has been summarized that small business management are going through various complicated situations and problems due to number of reasons such as; fluctuation in several micro factors and emergence of competitive organizations. Along with this, it has been understood that small firms are growing in fastest way for gaining more or more profit. Just eat is a small firm whose main motive is to expand their business across international boundaries for acquiring maximum advantageous by satisfying clients needs or requirements. Throughout the study it is shown that company is going through various changes which is occurring at marketplace but still adopting numerous of policies to cope up with large number of competition. In fact, high level of companies are emerging with numerous motive due to which existence is not an easy task. Thus, overall report shows that small business playing major role in developing the economy of a nation by bringing up with creative ideas for capturing attention of distinct clients.

References

  • Ackermann, S.J. ed., 2012. Are small firms important? Their role and impact. Springer Science & Business Media.
  • Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small business performance: business, strategy and owner-manager characteristics. Journal of small business and enterprise development. 20(1). pp.8-27.
  • Bridge, S. and O'Neill, K., 2012. Understanding enterprise: entrepreneurship and small business. Palgrave Macmillan.
  • Bruton, G.D., Ahlstrom, D. and Li, H.L., 2010. Institutional theory and entrepreneurship: where are we now and where do we need to move in the future?. Entrepreneurship theory and practice. 34(3). pp.421-440.
  • Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave Macmillan.
  • Chittithaworn, C., and et. al., 2011. Factors affecting business success of small & medium enterprises (SMEs) in Thailand. Asian Social Science. 7(5). p.180.
  • Cowling, M., Liu, W. and Ledger, A., 2012. Small business financing in the UK before and during the current financial crisis. International Small Business Journal. 30(7). pp.778-800.
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