Small Business Enterprises
Acknowledgement
I would like to thank my lecture ms. Gunathma gunawardana and Mrs. Raisa Zaharan, who helped me in doing the assignment.
Executive Summary
This assignment deals with the concept and plan as how to start a Small Business Enterprise. In this business report, I have described the product ‘Digital Tachograph’ I would introduce in my small business enterprise. I have given the details of the potential for this product, it benefits to the transport industry as well to a country as a whole.
We will be introducing ‘smart card’ to drivers which is inserted in the ‘Digital tachograph’ once the drivers start driving the vehicle. It will start recording the starting time, distance, speed, and break-time and finish time. We have analyzed the SWOT and PESTEL factors relating to introduce this product. We want to use a very simple target oriented marketing strategy to avoid competitors. We have set KPI’s to analyze and review the performances of the business in terms trading, profit & loss account, Balance sheet and financial ratios. We have detailed the actions required to overcome the weaknesses identified. Our objective in the first year is to make aware of our product to target corporate customers. In second year to reach our target corporate customers. In the third year to reach personal vehicle owners of commercial purpose.
We have forecast problems and analyzed the solutions to overcome problems that might occur in the five years of establishing the business. In the fourth and fifth year, our objectives are to enter the Indian market and market our products successfully there.
Table of Content Page No
List of Tables 04
Task 01 – (P1) Small Business Enterprises 05
P1.1- Business opportunity, background, and business profile 06
P1.2- Key Performance Indicators 10
P1.3- SWOT and PESTEL Analysis 12
Task 02 – (P2) (P2.1) – Overcome weaknesses 14
I would like to thank my lecture ms. Gunathma gunawardana and Mrs. Raisa Zaharan, who helped me in doing the assignment.
Executive Summary
This assignment deals with the concept and plan as how to start a Small Business Enterprise. In this business report, I have described the product ‘Digital Tachograph’ I would introduce in my small business enterprise. I have given the details of the potential for this product, it benefits to the transport industry as well to a country as a whole.
We will be introducing ‘smart card’ to drivers which is inserted in the ‘Digital tachograph’ once the drivers start driving the vehicle. It will start recording the starting time, distance, speed, and break-time and finish time. We have analyzed the SWOT and PESTEL factors relating to introduce this product. We want to use a very simple target oriented marketing strategy to avoid competitors. We have set KPI’s to analyze and review the performances of the business in terms trading, profit & loss account, Balance sheet and financial ratios. We have detailed the actions required to overcome the weaknesses identified. Our objective in the first year is to make aware of our product to target corporate customers. In second year to reach our target corporate customers. In the third year to reach personal vehicle owners of commercial purpose.
We have forecast problems and analyzed the solutions to overcome problems that might occur in the five years of establishing the business. In the fourth and fifth year, our objectives are to enter the Indian market and market our products successfully there.
Table of Content Page No
List of Tables 04
Task 01 – (P1) Small Business Enterprises 05
P1.1- Business opportunity, background, and business profile 06
P1.2- Key Performance Indicators 10
P1.3- SWOT and PESTEL Analysis 12
Task 02 – (P2) (P2.1) – Overcome weaknesses 14
References: Road terror: Police say they want your support. 2012. Road terror: Police say they want your support. [ONLINE] Available at:http://www.sundaytimes.lk/110501/News/nws_19.html. [Accessed 16 November 2012]. Traffic Statistics - Vehicles Involved in Traffic Accidents. 2012. Traffic Statistics - Vehicles Involved in Traffic Accidents. [ONLINE] Available at:http://www.police.lk/index.php/traffic-statistics/114. [Accessed 16 November 2012] Digital tachograph - Wikipedia, the free encyclopedia. 2012. Digital tachograph - Wikipedia, the free encyclopedia. [ONLINE] Available at:http://en.wikipedia.org/wiki/Digital_tachograph. [Accessed 16 November 2012]