The SBEs or the small business enterprises constitute a vital part of the economic progress and development of the economy. As a matter of fact, the small business enterprises worldwide have achieved an extraordinary feat of being one of the most potent contributors to the economy in terms of income generation, training and managerial practices, stimulating competition, in terms of savings and also for the incorporation of state of the art technology and innovative means to aid the business processes and activities paving the way for a prosperous economic development path ahead (Iqbal and Urata, 2002). Apart from such functions the conventional aspects pertaining to the reducing of unemployment rates in the nation, providing, boosting the growth rate of the economy, improving the per capita income levels and the amount of disposable income in the hands of the people, and in reducing the inequalities in income distribution across the economy.
The business ideas that lead to the start up of a small business enterprise are the most vital factors on which the success and prospects of the venture depend. As such, one ought to be very calculative and well- informed while making key decisions about the start up small business enterprises (Meyanathan, 2004).
The Healthy and Tasty food industries was started with an initial investment of 50, 000 Pounds and with the passage of time has emerged to have become one of the most successful small business enterprises of the UK and has won several accolades in the sector of mayo foods and salads catering to the needs of commercial food makers and fast food chains as well as catering to the needs of the households. As a company dealing in mayonnaise and salad items, the company dedicates itself to the quality health and safety concerns and seeks to provide mayo and salad products to the domestic as well as commercial customers at reasonable rates and in all the exciting varieties and flavours that are available. In the course of the past five years of the existence of the Healthy and Tasty food industries, the company has gone through some of the most crucial phases of development and has faced major issues with changes and shifts in the trends of the market dynamics and customer behaviour (Ananthan, et al. 2010). However, the aspects of quality and commitment to health and safety has been one of the most marked aspects of the Healthy and Tasty food industries through the time of five years and it has grown even stronger in the recent times owing to the increased awareness about health and safety factors and the quality of the mayo and salad items that are used for household purposes as well as commercial purposes in the fast food outlets.
As such, having spent a considerable amount of time in the present market and having achieved some exemplary success and having tackled intense issues the strengths and weaknesses of the Healthy and Tasty food industries can be identified as under:
The popularity of the Healthy and Tasty food industries has increased greatly since the time of its inception and owing to the high quality and price affordability factors it has been able to develop a strong base of loyal customers
The Healthy and Tasty food industries is fortunate of being awarded a place in the top 100 of the best emerging small business enterprises of UK for the year 2010 and this has influenced its brand name and brand reputation considerably (Ansoff, 2009).
The Healthy and Tasty food industries has a wide and well connected network of business to business as well as business to customer clients and enjoys the upper hand over the rivals by virtue of its commitment to quality, health and safety.
The management of the Healthy and Tasty food industries also manages a potent supply chain and manages to get raw materials of the best quality from the different suppliers.
However, notwithstanding the strengths and core competencies of the Healthy and Tasty food industries, there do remain some areas of lacunae or weaknesses which the Healthy and Tasty food industries suffers from and some of the most prominent of those can be identified as under:
The weakness of the Healthy and Tasty food industries can be related to the fact that though considerably successful in the past five years the Healthy and Tasty food industries has not been able to expand its market into greater locations or to engage new customers to an extent as good as its rivals have done.
Moreover, the Healthy and Tasty food industry has also not performed impressively in terms of diversifying into new product lines to woo more customers towards the brand.
The lack of proper loyalty programs for the loyal customers is also cited as another of the weaknesses of the Healthy and Tasty food industries in terms retaining the loyal customer base and preventing them to be wooed away by other competitors offering extra facilities and privileges for the loyal customers (Cady and Buzzell, 2006).
The objectives of the Healthy and Tasty food industries can be identified as under:
1. To be the leader in the mayo and salad catering sector for both, domestic as well as business to business clients
2. To expand the market base to other prosperous areas of South Londonand other adjoining areas where the fast food chains are rampant
3. To diversify into products and services that help stimulate sustained demand for the products of the brand and attract the attention of the customers
4. To invest in people and technology to be able to cater in a better manner to the varied needs of the customers
5. To work in collaboration with famous food and restaurant chains in UK and prosper along the path of success in a sustained manner.
6. To be a good corporate citizen and promote health, safety and well-being of the people and larger community.
Altogether, the performance of the Healthy and Tasty food industries has been impressive compared to its rivals like the Berjaya Food Berhad there do remain some areas where the Healthy and Tasty food industries ought to make improvements and advancements to enjoy the competitive edge over the well-positioned rivals and other brands dealing in alternatives and substitutes (Cravens, 2002).
If the performance of the Healthy and Tasty food industries is to be judged vis-a-vis the envisaged objectives, as have been mentioned in the preceding section, the performance of the Healthy and Tasty food industries needs detailed discussion and analysis to be able to draw inferences on this matter.
The performance of the Healthy and Tasty food industries, so far being a popular brand among the domestic as well as business clients is concerned has been satisfactory in the sense that the customers have been loyal to the brand and in spite of the lack of special and well defined loyalty programs for the loyal customers, they have stuck to the brand and its products in a sustained manner and have helped the Healthy and Tasty food industries develop a brand identity and an unmistakable brand name recognition of its own (Dess and Miller, 2003). This can be attributed to the strengths of the brand which lies in its constant and ever improving commitment and dedication to high quality of mayo and other salad products and its concern for the health and safety of the consumers manifest in the quality, packaging, storing, use of containers and treatment of the products at its facility and also while transporting the products to the clients over long distances.
The other strengths of the Healthy and Tasty food industries in terms of ethics and transparency and being a good corporate citizen has been very impressive and is regarded as one of the most prominent factors that attribute it the special status and perception it enjoys in the hearts and minds of its consumers and the community, at large (Jeffs, 2008). Moreover, a flawless track record in this context and being featured in the list of the top 100 emerging small business enterprises of UK has accentuated its brand image and perception to attain new heights.
However, the aspects pertaining to the diversification of the products and expanding the market to new destinations have been the areas where the management of the Healthy and Tasty food industries has not been able to perform to the desired levels.
The other areas where the performance of the Healthy and Tasty food industries has been found to be negative or below the mark have been the areas of providing the expected levels of customer service to the customers in terms of building rapport, personal networking and advertising and promotional aspects leading to results below the intended mark. This can be owed to, among other factors, the lack of proper sync of the various departments of the organization and the lack of efficient modern system of message and information sharing and management leading to gaps in communication and knowledge management (Keith and Gubellini, 2008).
Moreover, the choice of decision as to which theory is to be adopted in practice to retain the competitive edge in the market in the wake of intense competition has also been another cause of worry for the managers of the Healthy and Tasty food industries. The understanding of this matter through the cost leadership theory, if low cost strategy is to be the key to strategic advantage or high quality of products, has been a major issue for Healthy and Tasty food industries.
The use of the tools like the key performance indicators, internal audits, benchmarking the processes and activities and customer satisfaction surveys in the preceding section have brought to the fore the strengths and weaknesses of the Healthy and Tasty food industries and that being already done, it is necessary that meaningful and feasible recommendations and suggestions are provided to the managers of the Healthy and Tasty food industries to address the areas of weakness and meet the flaws effectively and efficiently (Kollat, et al. 2002).
Firstly, to make the internal communication and information sharing system better, the incorporation of the latest technology would be vital so as to provide the base for the betterment of the other allied activities and process all of which depend on the effectiveness of information sharing. The establishment of a cloud based information sharing system can enable the personnel of the production and marketing team coordinate and share information working in real time and this way they can make and implement policies and strategies accordingly with the best possible appeal and synchronization with the product and hence, transcending into better attraction and appeal factors of the same (Mooradian, et al. 2012). Sharing of information and knowledge in the organization can lead to better results for all the departments of the Healthy and Tasty food industries and lead to better functioning of the organizational machinery and transcending into better business performance.
Better training and grooming of the employees through identification and incorporation of codes of best practices and better managerial practices can help a great deal in overcoming the weaknesses of the Healthy and Tasty food industries in the short as well as in the long run. Moreover, diversifying into new products and expanding the market base to new destinations coming into collaboration with famous and popular food and restaurant chains can help the Healthy and Tasty food industries have sustained demand for their products and also help a great deal in popularizing the brand and letting aware more people about the products it deals in (Mooradian, et al. 2012). Diversifying in to new products and new varieties of the existing product lines can help develop the attraction of the customers towards the products and can also help attract new customers towards the brand. The adherence to low cost leadership can be the most suitable strategic choice for the management of the Healthy and Tasty food industries in the present as well as in the future in the days to come when the competition is sought to attain new heights and intensities and the price affordability criterion, obviously not compromising with the quality or health and safety factors, would be the key to turn the tide of customer purchase decision making towards the brand and its products. In line with the concept of stakeholder analysis as well as the stakeholder theory, the engagement of the stakeholders in the decision making process with absolute emphasis on marketing research and intelligence gathering on the roles and activities of the various stakeholders would be at the core of the future strategies of the Healthy and Tasty food industries in order to address the flaws that currently plague the organization’s prospects and stand as impediments on its way to success and fame (Reddy, et al. 2010).
The business plan for maintaining and strengthening the performance of the Healthy and Tasty food industries can be related to the factors of sustainability of business, being a good corporate citizen, have the upper hand over the rivals through high product quality, superior customer services and utmost emphasis on health and safety factors while still offering the products at affordable prices. The business plan for the Healthy and Tasty food industries would put the customers at the heart of all the activities and endeavours aimed at strengthening the competitive position of the brand and to be the most popular mayonnaise and salad caterer for the wide clientele base (Sadler, 2003).
So far exploring the new opportunities in the new markets are concerned the markets of the adjoining areas of South London which are the hotspots of fast food chains and quick service restaurants would be on the radar of the Healthy and Tasty food industries seeking to come into mutually beneficial partnerships and collaborations with such entities to be able to expand the market base of the brand over to areas outside the main city and also to make more people aware of the brand and the variety of products its offers to its customers (Sen, 2008). Targeting the college goers as well as the residents of the adjoining areas apart from the business entities mentioned above would on the first priority list of the Healthy and Tasty food industries to advertise and market its products. This would lead to the expansion of the physical reach of the brand and would also enable the managers to establish rapport and forge long term relationships with such clients.
The financial feasibility and the other aspects related to the feasibility report seem to be suitable for the Healthy and Tasty food industries to tread along the path of the opined business plan for improvement of its strategic status and to strengthen its performance and organizational output levels in a great way in the upcoming days.
The concept of low cost leadership while maintaining the quality of the products would be the key appeal of the brand and the core competency that would enable it to develop, maintain and further strengthen the upper hand over the rivals and establish a positive and impressive brand image in the hearts and minds of the customers and the audience, at large.
Commitment to business ethics, corporate social responsibility and environmental concern would be at the core o the business plan for the Healthy and Tasty food industries that would see it reach greater heights of success in the upcoming years (Meyanathan, 2004). Use of modern state of the art technology to be able to serve the customers in a more convenient and comfortable manner would also be another important facet of the business plan and the Healthy and Tasty food industries would invest in people and modern technology to be the leader in the mayo and salad catering sector of UK in the years to come.
The need for effective and efficient change management is of paramount importance for the Healthy and Tasty food industries to thrive and prosper in a sustained manner. In response to the changes and shifts in trends the changes and advancements need to be incorporated within the organizational and business management contexts of the Healthy and Tasty food industries to be able to work smoothly and efficiently in the wake of the changed circumstances with the changes in market environment, roles and activities of the competitors, the economic conditions and the ever changing and evolving customer behavioural trends and dynamics (Meyanathan, 2004).
For effective change management, to bring about necessary changes in the manner of working of the organization as well as in the areas of communication system, the power relationships and the hierarchical dynamics, effective change management strategies followed on a step by step manner would be necessary for the business. Decentralization of power, establishment of two way communication system, laissez faire system of management and leadership style and a more open and smooth information and message sharing would be the prominent changes and advancements that would be required to be brought about into the organizational settings of Healthy and Tasty food industries (Iqbal and Urata, 2002). In line with the theory of change management, educating and making aware the managers, supervisors and the employees about the need and the benefits of change, rewarding the managers for short term wins and consolidating on the wins for greater results would be the approach adopted for effective change management for the Healthy and Tasty food industries. Guiding the employees and managers, selecting team leaders from amongst the employees and junior managers to be leaders for change and rewarding the ones who fall in line would be at the core of the strategies (Mooradian, et al. 2012). Moreover, monitoring the modus operandi or the manner of working of the various departments and echelons of the organization towards the designated path of change management and then building on the achievements to establish a culture of the changed patterns and practices would form the backbone of the change management strategies for the Healthy and Tasty food industries.
Ananthan, B., Appannaiah, H. and Reddy, P. (2010). Business management. Mumbai [India]: Himalaya Pub. House.
Ansoff, H. (2009). Strategic management. New York: Wiley.
Cady, J. and Buzzell, R. (2006). Strategic marketing. Boston: Little, Brown.
Cravens, D. (2002). Strategic marketing. Homewood, Ill.: R.D. Irwin.
Dess, G. and Miller, A. (2003). Strategic management. New York: McGraw-Hill.
Iqbal, F. and Urata, S. (2002). Small Firm Dynamism in East Asia. Boston, MA: Springer US.
Jeffs, C. (2008). Strategic management. Los Angeles: SAGE.
Keith, L. and Gubellini, C. (2008). Business management. New York: McGraw-Hill.
Kollat, D., Blackwell, R. and Robeson, J. (2002). Strategic marketing. New York: Holt, Rinehart and Winston.
Meyanathan, S. (2004). Industrial structures and the development of small and medium enterprise linkages. Washington, D.C.: World Bank.
Mooradian, T., Matzler, K. and Ring, L. (2012). Strategic marketing. Boston, MA: Pearson Prentice Hall.
Reddy, P., Appannaiah, H. and Sathyaprasad, B. (2010). Business management. Mumbai [India]: Himalaya Pub. House.
Sadler, P. (2003). Strategic management. Sterling, VA: Kogan Page.
Sen, M. (2008). Business management. Jaipur, India: Oxford Book Co.
MyAssignmenthelp.com is the perfect solution to render quality solution for all sort of academic issues. We have hired professionals from different fields of study to provide assistance with different subjects. We successfully have provided different types of assignment solutions on 100+ subjects. We have hired industry experts to deliver nursing assignment, hr assignment and finance assignment help. To offer quality content with IT assignments, we have hired IT professionals to render programming language assignment help and IT assignment help for other types of IT assignments as well.
You are required to write a researched argument essay that convinces persuades the reader of your position / stance. This is an academic, researched and referenced do...Read More
Executive Summary The purpose of this report is to elaborate the factors which are considered by individuals before selecting an occupation. Choosing an occupati...Read More
Introduction With the increase enhancement in the field of technology, it has been considered essential by the businesses to implement such technology in their b...Read More
Executive Summary In a merger & acquisition, role of an HR has emerged as a very critical function. At each stage of merger and acquisition process, HR plays a s...Read More
Introduction In this competitive business environment where every business organization is trying to attract the customers of each other, it becomes essential for ...Read More