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Unit Number and Title
HNHM346 Managing and Running a Small Business
Anup Bista Fahim Shahbdeen
Managing a Small Hospitality Business
03 February 2022
20 April 2022
IV Name & Date
F. Khan (31 January 2022)
Guideline for Final Submission
This Module has two assessments: ASSIGNMENT 1 and ASSIGNMENT 2. Ideally, you should complete ASSIGNMENT 1 before WEEK 6 and make sure you RECEIVE FORMATIVE FEEDBACK on your assignment from your lecturer during teaching on WEEK 7. It is also recommended that you complete ASSIGNMENT 2 before WEEK 9 and get FORMATIVE FEEDBACK from the lecturer during teaching WEEK 10. Once you complete ASSIGNMENT 1 and ASSIGNMENT 2, you need to put both assignments into one Microsoft Word file for Final Submission. Remember, there will be only one submission Link. You CAN NOT Submit ASSIGNMENT 1 and ASSIGNMENT 2 separately. As mentioned above, you must put both ASSIGNMENT 1 and ASSIGNMENT 2 into one Microsoft Word file and submit it once. Best of Luck!
The submission is in the form of a Toolkit pack. This should be written in a concise, formal business style using single spacing and font size 12. You are required to make use of headings, paragraphs and subsections as appropriate and all work MUST be supported with research and referenced using the Harvard referencing system. The recommended word limit is 1500 to 2,000 words, although you will not be penalised for exceeding the total word limit.
Unit Learning Outcomes
Discuss how a small business or social enterprise plans and allocates resources to achieve objectives Explain and evaluate the customer relationship management process for a small business or social enterprise, including understanding the benefits and challenges of transnational operation 4. Discuss the implications of regulation and legislation on a small business or social enterprise.
Assignment Brief and Guidance
Scenario: You are working as a business advisor for the small business management service in your local bank and have been asked to create a Toolkit for Managing a Small Hospitality Business that will be made available to customers. What you are required to do: The assignment requires you to work independently to produce a Toolkit. The Toolkit should contain the following information: An introductory statement discussion on the main considerations and assessment of the importance of planning and allocating resources to achieve the business objectives for a small hospitality organization application of relevant tools and techniques in a structured and analytical way to plan and allocate resources in an organisational context critical analysis of the application of appropriate resources to demonstrate links between resource allocation and achievement of business objectives explanation and critical evaluation of different processes of customer relationship management for a small business in relation to achieving business objective explanation of how a small business can develop transnationally with an assessment of the benefits and the drawbacks using a relevant model Recommendations for overcoming challenges of developing transnational operations discussion and critical evaluation of the key legislation and regulations that affect small businesses or social enterprise organisations, taking future developments and changes into account including statement
The submission is in the form of a report. This should be written in a concise, formal business style using single spacing and font size 12. You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system. The recommended word limit is 1500 to 2,000 words, although you will not be penalised for exceeding the total word limit.
ScenarioJohn & Jenny E-commerce Service Experienced e-commerce developers John & Jenny have decided to open an IT business specialising in e-commerce business. It is a partnership, with each of them investing £5,000 into the business. Their service is developing e-commerce sites for new and existing businesses. Revenues:John & Jenny expect 2 projects (e-commerce sites) per month for the first 2 months of trading; each project will generate £5,000 in sales. Customers will be expected to pay 25% of the price as a deposit with the balance on completion. Each project is expected to last one month.
The main costs associated with the start-up are: Office rent £1000 per month Office furniture £500 (1st month) Marketing – £500 per month Legal and accounting costs – £200 per month Project materials (Domain, hosting, & software) – £500 per project. It is assumed that suppliers will allow John & Jenny 30 days to pay for these costs sub-contracted labour (other E-commerce engineers) – £2,000 per month. These will be paid in the month incurred. John & Jenny will pay themselves a salary of £1,000 each per month whilst the business is being established. Other sundry costs of £500 per month have been assumed What you are required to do: You need to address the following 3 activities: By applying appropriate quantitative and analytical techniques, produce a break-even analysis and itemised cash flow forecast for the first two months of trading for John & Jenny E-commerce Service showing fixed and variable costs set against the income. Explain how breakeven analysis could be applied to an organisational situation Interpret key financial statements such as the cash flow forecast you have produced and critically evaluate how they can contribute to the successful management of John & Jenny E-commerce Service.
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