Unit 21: Small Business Enterpris Essay

1071 Words Jun 15th, 2015 5 Pages
UNIT 21: SMALL BUSINESS ENTERPRIS
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LO1 Be able to investigate the performance of a selected small business enterprise Business profile: components of the business, objectives of the business, internal and external factors affecting business performance, performance measures, constraints and restrictions on business, responsibilities and liabilities of owner-manager Comparative measures of performance: comparisons with other similar-sized businesses in same geographical area, comparisons with businesses in same or similar industry, comparisons with industry averages; comparisons should cover all areas – financial, production, marketing, sales, human resources, use of
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ts of self and staff development
LO3 Be able to revise business objectives and plans to incorporate proposed changes Business objectives: structure of business objectives, assessment of business objectives in the light of current performance, making changes to business objectives, impact of changes on business plans Business plans: structure of integrated business plans (financial, sales and marketing, production/output, personnel), use of business plans, evaluation of plans against business objectives, incorporating changes to plans, budgeting for changes, preparation of business forecasts Action plans: plans to implement changes, systems to manage, monitor and evaluate changes, performance measures, milestones, setting deadlines
UNIT 21: SMALL BUSINESS ENTERPRISE
LO4 Be able to examine the impact of change management on the operations of the business Impact of change: effects of change on all areas of business – finance, workloads, morale, job roles, physical aspects eg office space, production methods; use of technology, anticipating possible obstacles/problems Management of change: monitoring effects of change, maintaining systems and records to evaluate impact of change, appropriate revision of plans in response to actual results
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UNIT 21: SMALL BUSINESS ENTERPRISE
Learning outcomes and assessment criteria
Learning outcomes
On successful completion of this unit a learner will: LO1 Be able to

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