GOOD Example Report - Entreprise in society

7/25/2019 GOOD Example Report - Entreprise in society

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To be completed by the student(s). Students must complete IN BIROthe relevant sections of this sheet andattach it to the front of their assignment.

Module Code and Title: BS5302Enterprise in Society

Module Leader: Rosemary Athayde

Title of Work: Report on 247drinks Ltd

Originality of work and individual contributions

Assignments are assumed to be the work of the student(s) named on this cover sheet. Students who do notidentify uotations or who inc!ude e"tensi#e copyin$ or paraphrasin$ of sources without properacknow!ed$ement% are !ia&!e to accusations of p!a$iarism 'a form of academic misconduct(% which is #iewede"treme!y serious!y under )ni#ersity Re$u!ations (please refer to your Student Handbook for details). Incompleting this form students are deemed to be certifying that all the material in the assignment which is nottheir own work has been properly identified and acknowledged.

rou!work contributions

It is assumed that each group member has contributed eually to the assignment. If this is not the case! a fulle"planation must be included with your work! incorporating appropriate percentage contributions per groupmember.

To be co"!leted by t#e Marker

Marker$s co""ents

%lease see below

%ercentage "ark for assign"ent&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&'

#ark capped at $%& late submission by second deadline' (i.e. within grace period! normally days *S

#ark of +ero for late submission after both deadlines' (i.e. without mitigation,signed e"tensions form) *S

-neven contribution for group members *S

#arkers signature/00000000000 000000000000000000000000000000000000000001ate/


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Enterprise in Society BS5302

Report On247drinks Ltd

Word Count 3485

(Ec!udin"# $it!e %&"e#

Eecuti'e Su&ry# )ppendices&nd Re*erences+


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Contents

I. Executive Summary:..................................................................................................1

II. Introduction:.............................................................................................................. 2

II.I Background of 247drinks:........................................................................................2

III. Analysis:.................................................................................................................

III.I: !et"orking:............................................................................................................

III.II: #inancing:.............................................................................................................. $

III.III: Innovation:...........................................................................................................7

III.I%: &arketing:............................................................................................................'

III.%: #uture (lans and External In)uences:.................................................................11

External in)uences.........................................................................................................11

Economy...................................................................................................................... 11

*limate........................................................................................................................11

+arget market,s actions...............................................................................................12

*om-etition................................................................................................................ 12

I%. *onclusion:...........................................................................................................1

%. eferences...............................................................................................................14

%I. A--endices:..........................................................................................................17

a. /rou- 0og:............................................................................................................17

. Intervie" guide uestions and t3eir sources:....................................................2

c. 5raft Intervie" /uide:..........................................................................................2$

d. #inal Intervie" /uide:...........................................................................................27


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Marking Criteria ' Ma( Marker$s Co""ents

)e!t# and breadt# of knowledgedemonstrated in the analysis andevaluation of findings in the reportwith respect to the tasks set

) identification of small businessmanagement in practice

3) small business issues that the

owner manager had encountered

4) the students perception of thedifference between small and largecompany management practice 5

Total

36

36

34

7

47

47

4%

2%%

ou have very successfully addressedthe reuirements of the task. The

report demonstrates a soundunderstanding of the main issues andthe mark is a reflection of the amountof effort e"pended.

8ood understanding of the essentialsmall firm practices with e"amples andrelevant references.

9elevant issues well analysed andbacked up by nice uotations! and

good and e"tensive references.

8ood identification and e"amples ofthe main differences.


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,- Eecuti'e Su&ry.

+3is re-ort "ill discuss t3e key similarities and constraints faced y Small

and &edium Enter-rises 6S&Es and 3o" t3ey are managed as o--osed to

large 8rms.247drinks is a small alco3ol delivery service usiness ased in

Sout3 0ondon.

An intervie" "it3 t3e o"ner manager of 247drinks "as conducted in order

to gain insig3t of small usiness management realities. +3e intervie"

focused on t3e follo"ing 8ve essential usiness areas: net"orking9

marketing9 8nance9 innovation and External In)uences#uture (lans.

+3e information gat3ered "as analysed and t3e 8ndings concluded t3at:

!et"orking "as and "ill continue to e an essential element to t3eusinesses success.

#inancing t3e usiness "as attriuted due to t3e use of t3enet"orks t3e usiness 3ad estalis3ed.

Innovation of t3e usiness conce-t and not t3e actual goods eingretailed "as and is reuired for gro"t3.

+3e successful use of marketing is t3e usinesses key tosustainaility

+3e future of 247drinks is reliant on ot3 macro and micro

environmental factors.

As s3o"n in t3e conclusion9 t3is re-ort s3o"s t3at S&Es could e lackingt3e guidance and su--ort t3at could 3el- t3em in ac3ieving andcontriuting consideraly more due to t3e de8ciency in some keyresources in contrast to large organisations.

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,,- ,ntroduction.

+3e aim of t3is re-ort is to analyse9 evaluate and exem-lify t3e

di


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,,,- )n&!ysis.

,,,-,. /etorkin".

!et"orking refers to t3e action y "3ic3 an o"nerCmanager develo-s and

maintains contacts for trading and usiness develo-ment -ur-oses, *3ell

and Baines 62 -.1'D.

!et"orking is a vital -art of small usiness management t3at 3el-s to aid

success ecause it 3el-s in=

Seeking ideas for usiness startCu-9

S-eeding u- -roducts to markets, 65eakins. 5 and #reel. &. 6212

-g. 24

Advise and emotional su--ort

>taining access to external kno"ledge, 65eakins. 5 and #reel.

6212 -g. 24

+3e o"ner manager of 247 drinks states t3at net"orking 3as -layed a ig

role in t3e success of 3is usiness. @e 3ad t3e con8dence in eing ale tocreate net"orks immediately due to eing "ellC kno"n in t3e area. @e "as

initially advised y 3is -ersonal net"orks "3ic3 included friends9

acuaintances and family 5uini9 ( and Aldric39 @9 61''1 "3en starting

3is usiness: 247drinks. @e rememers most of t3em eing reluctant

aout 3is idea and douted 3o" successful t3e usiness could e.

@o"ever9 eing relentless is a c3aracter most successful entre-reneurs

reuire= t3erefore 3e "ent a3ead "it3 t3e usiness.

+3ere,s a signi8cant di


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*om-ared to "eak ties9 strong ties consist of freuent interaction,.

/ranovetter 61'7-age 427 @o"ever9 strong ties are -erceived as eing

less ene8cial t3an "eak ties ecause t3ey are likely to -rovide redundant

information since t3ey can e antici-ated to move in similar9 if not t3e

same9 social circles6 Burt9 1''2. /ranovetter 61'7 and Burt 61''2suggest t3at net"orks s3ould consist of ot3 strong and "eak ties

ecause9 t3e nature of t3ese ties in)uence t3e o-eration and structure of

net"orks. +3e o"ner manager t3erefore su--orts and aims to uild and

maintain -ositive relations3i- "it3 ot3 ties.

5enise E. #letc3er 622 -g 12 suggests t3at in small 8rms9 informal

met3ods "ere used to induct9 train and retain em-loyees., +3is is true to

247drinks as informal intervie"s "ere used for t3e recruitment -rocess. It

is ex-ected t3at as 8rms gro"9 t3e skills and ailities reuired to -erform

various functions and activities "ould no longer e availale from t3efamiliar and informal recruitment sources -referred y t3e o"nerC

manager. 6Journal of Small Business Management 2005 43(1), pp. 164).

@ence9 large 8rms like AS5A su-ermarket use formal met3ods of

recruiting ecause t3ey 3ave s-ecialised de-artments "3o deal "it3 t3e

recruitment and training of t3eir "orkforce9 "3ereas9 t3e o-erations

managers in small usinesses9 like 247drinks are likely to carry out t3e

recruitment -rocess t3emselves due to a lack of resources.

*ustomers are an im-ortant element for 247drinks. +3e service t3at

customers receive from 247drinks could encourage customers i.e. delivery

time9 -rices9 friendliness of em-loyees and uality of drinks.+3e o"ner

manager encourages 3is em-loyees to e very friendly to customers and

also saves customers numers so t3at "3en regular customers call9 t3ey

are kno"n y name "3ic3 also encourages a stronger ra--ort et"een

t3e t"o. 0oyal customers recommend and roaden t3e usiness,s

-o-ularity t3roug3 "ord of mout3. Additionally t3roug3 "ellCmaintained

relations3i-s "it3 customers,9 247drinks can gain insig3t of c3anges9

trends and o--ortunities in t3e market.

0arge com-anies are unlikely to rely exclusively on -romotion t3roug3

"ord of mout3 to customers. Instead9 t3ey use large and more

traditional,9 ex-ensive tec3niues of communicating to t3eir customers

like advertising on +%9 illoards and social media.

247drinks also uses t3e ever gro"ing met3od of social net"orking to

communicate "it3 its customers aout t3e usiness,s dynamics9 activities

and innovations. +3is ex-ands t3e usiness,s market ase and

accessiility. F of consumers "ould e more inclined to uy more often

in t3e future ecause of a randGs -resence on social media 6Hig3t9 21.

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http://onlinelibrary.wiley.com/doi/10.1111/j.1467-6486.2005.00540.x/full#b40http://onlinelibrary.wiley.com/doi/10.1111/j.1467-6486.2005.00540.x/full#b40


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It is agreealet3at t3roug3 en t3e ot3er 3and larger 8rms are ale to raise ca-ital a lot easier

and uicker t3roug3 t3e use of retained earnings9 sale of s3ares and from

anks J as t3ese larger 8rms o


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intrusive uestions. 5uring t3e Ksee %orn-6e%ture 3 BS5302) and start

u- -3ases of 247drinks9 t3e o"ner manager "as increasingly de-endent

on close family to 3el- out "it3 funding. +3is is a familiar trait "it3 most

S&Es "3o rely on internal sources of 8nance t3roug3 #riends9 #amily9 #ools

or t3e #ounder t3emselves 6e 4 s e%ture 3 BS5302) to fund t3einitial startCu- or for additional sums of ca-ital in order to furt3er gro" t3e

usiness.

H3en seeking to otain t3is initial startCu- ca-ital t3e o"ner manager 3ad

to utiliLe 3is Strong ie-(e%ture 2 BS5302)net"orks te initial %apital

"as not enoug, an 7 a to rel# on famil# for $nan%ial support-9 t3is is

due to t3e ease and s-eed of access and availaility, t3is -rovides9

3o"ever convincing t3ese 3 s-to invest in a ne"ly formed S&E may

cause t3e o"ner manager 3aving to relinuis3 -art of t3e usiness to t3e

investor= as stated y (Small Business, 2013) *uit# gies #ou %as, &ut#ou ae to sare te su%%ess- t3is is furt3er illustrated y t3e o"ner

managers rot3er still 3aving a small s3are in t3e usiness. Alt3oug3

government funding may 3ave een availale during startCu- t3roug3

sc3emes suc3 as Start8up oans- ande Business Ban/-t3e o"ner

manager did not take advantage of t3is o--ortunity9 t3is can e attriuted

to t3e intense and time consuming "ork load 3e undertook to get

247drinks running successfully.

Hit3 t3is ca-ital t3e o"ner manager "as ale to steadily gro" 3is

usiness yet "as unale to see a -ro8tale return stating t3at it too/ t"o

#ears to see a return on inestment-t3is could e ecause te e%onomi%

%limate a a signi$%ant %ange in eman for te prou%t-. Since t3e

usiness "as o-erating as a retailer rat3er t3an a service -rovider it "as

3arder to sell "it3 a large -ro8t margin 3o"ever larger 8rms and

distriutors 3ave t3e distinct advantage of a--lying Economies of scale=

(%onomies online, 2013) statesKlarge $rms are often more e9%ient tan

small ones &e%ause te# %an gain from e%onomies of s%ale-. #rom t3is t3e

usiness also su


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means of raising 8nance for S&Es 3ave evolved "it3 t3e use of Business

angels-and t3roug3 t3e increasingly -o-ular use of cro"d funding, as

stated y (:;emo%rati% $nan%e,

allo"ing &usinesses an pro?e%ts of all forms an si@es a%%ess to mone#

"ile passing traitional &an/ing institutions-. #urt3ermore t3eusiness could continue to raise 8nance internally t3roug3 t3e use of

retained -ro8ts "3ic3 3ave su--orted t3e sustained gro"t3 of t3e

usiness so far= Aro$ts elp to re8inest more into te &usiness in orer

for it to /eep gro"ing.-

,,,-,,,. ,nno'&tion.

Innovation is controversiallyde8ned as K"3en an enter-rise -roduces a

good or service or uses a met3od or in-ut t3at is ne" to it9 it makes a

tec3nical c3ange. +3e 8rst com-any to make a given tec3nical c3ange is

an innovator. Its action is innovation.M 6Sc3mookler9 1'DD Sim-ly -ut9

innovation is essentially t3e -rocess of increasing demand y Kmaking

ne" t3ings 3a--enM 6/urling9 21.

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+3ere is a vast ga- et"een t3e "ay innovation is researc3ed and

im-lemented et"een small and large 8rms. Small 8rms are at a

disadvantage due to eing constrained y t3eir lack of resources9

com-arative to large 8rms "3o 3ave extensive resources readily availale

and conseuently can a


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and ex-ertise on suc3 innovative sc3emes and as suc3 are more likely to

en3ance t3eir services9 due to t3e increased )exiility in t3eir -rocesses

and t3e -ositive nature of t3e relative siLe of t3e enter-rise= unlike larger

8rms9 "3o often 3ave to alance t3e risk et"een t3ese innovative

sc3emes and t3eir existing -roects9 t3us reducing t3e likeli3ood ofsuccess due to an inaility to im-lement incremental innovation suc3 as

t3at used y 247drinks ecause of t3eir 3ierarc3ical9 3ig3ly ureaucratic

structure.

#inally9 t3e "ay 247drinks revie"s t3e usiness every t"o mont3s to look

for "ays to innovate gives t3em an edge ecause t3ey are ale to analyse

"3at is 3a--ening in t3eir nic3e market9 and t3e "ays in "3ic3 t3ey could

im-rove t3eir usiness o-eration to kee- u- "it3 and go a3ead of t3eir

com-etition.

,,,-,. &rketin".

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&arketing is referred to as t3e management -rocess t3roug3 "3ic3

-roducts move from t3e initial conce-t to t3e 8nal -rocess of -roduction9

or sim-ly -ut9 t3e act of making markets 6te %olle%tion of %onsumers

a"are of intene prou%ts %onsumer %onsumption). In most

organisations9 it includes t3e coordination of t3e four elements ofmarketing collectively kno"n as t3e marketing mix= -roduct9 -rice9 -lace

and -romotional strategy (;eefe 2004, p. 1). @o"ever9 t3is ty-e of

marketing mix is mostly for large 8rms "3ic3 rely mostly on careful

-lanning -rocesses "3ic3 3ave een in-ut y a committed team of

market researc3 analysts to guide t3e selection of a target market and

-roduct. S&Es like 247drinks on t3e ot3er 3and rely more on intuition9

informality9 identi8cation and interactive marketing met3ods. 6


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t3roug3 t3eir #aceook -age under t3e same name ("itter 2013E

a%e&oo/ 2013)"3ere a constant stream of -romotions and o


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,,,-. 1uture %!&ns &nd Etern&! ,nuences.

+3e enter-rise "is3es to ex-and t3eir current delivery ex-anse of Sout3

0ondon to cover all of 0ondon. +3is "ill e de-endent on t3e inection of

furt3er 8nance9 alongside an increased numer of em-loyees to cover all

oroug3s9 "3ilst aiming to ac3ieve t3eir -romise of a minute delivery

time. @o"ever9 t3is desire to dominate t3e nic3e market may -rove

-ro3iitively costly due to t3e ex-ansion of t3eir geogra-3ic market

6ot3"ell9 1'' and t3e associated costs9 alongside t3e continuingdiculties in accessing external 8nance s sources of 8nance9 as -reviously

ex-erienced.

Etern&! inuences-

Econoy-

5uring an economic recession9 small usinesses are often 3it t3e 3ardest

6Small Business C *3ron.com9 21. Because -eo-le are likely to cut costs

to ale to uy food and necessities during economic decline9 andee-

ames39 6211 states t3at t3e recession sa" fe"er -eo-le drinking in

Britain,. +3is s3o"s t3at ad economy 3as a negative e


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$&r"et &rkets &ctions-

+ale 1 indicates t3at t3e age grou- of adults "3o drank t"ice over t3eestimated drinking limit is aged et"een 1DC24 6!e"s.c.co.uk921=

"3o are likely to e students. 247drinks also ackno"ledges students as

t3eir main target market as students account for D$F of t3e usiness,

sales. 5uring student 3olidays 3o"ever9 t3e usiness, sales decline

signi8cantly. +3is gives large usinesses like AS5A an advantage ecause

t3ey 3ave "ider target markets.

$&6!e

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Copetition

A nation,s -ros-erity de-ends on its com-etitiveness 6unkno"n9 21

*om-etition is an inevitale external factor t3at a


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- Re*erences

5eakins9 5. and #reel9 &. 62129 Enter-reneurs3i- and Small #irms9 Dt3

Edition9 &c/ra" @ill9 Berks3ire.

5enise E. #letc3er922 (age 12 9Pnderstanding t3e small familyusinessEconomiesonline.co.uk. 21. Economies of scale Q>nlineR

3tt-:economicsonline.co.ukBusinesseconomicsEconomiesofscale.3t

mlQAccessed !ov 21R

a%e&oo/. 2013. 24 rin/s. KonlineL =aila&le atC

ttpsC""".fa%e&oo/.%om24rin/sK=%%esseC 2 No 2013L.

a%e&oo/. 2013. ungr#ouse.%o.u/. KonlineL =aila&le atC

ttpsC""".fa%e&oo/.%omungr#ouse K=%%esseC 2 No 2013L.

#ores.co.uk. 21. #ive reasons out of 1 usinesses fail. Q>nlineR

3tt-:""".fores.comsiteseric"agner21'128veCreasonsCCoutCofC

1CusinessesCfailQAccessed !ov 21R

/allou9 #. and Heinstein9 >. 61''7 Innovation in services,9 esearc3

(olicy9 vol. 2D9 --. $7C$D.

ilmore, =.,


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/ranovetter 61'7 and Burt 61''2a9 1''2TTNournal of &anagementStudies%olume 429 Issue D9 Article 8rst -ulis3ed online: 12 AP/ 2$/ranovetter 61'7Journal of Management Stuies 42:D Se-temer 2$22C2...-age 427/urling9 *. 621 Q(o"er-oint (resentationR. BS$2: Enter-rise in

Society. Availale at: 3tt-:studys-ace.kingston.ac.uk6Accessed: 1$!ovemer 21

/urling9 *. 621 Q(o"er-oint (resentationR. BS$2: Enter-rise in

Society 0ecture 2. Availale at: 3tt-:studys-ace.kingston.ac.uk

6Accessed: 1$ !ovemer 21

/urling9 *. 621 Q(o"er-oint (resentationR. BS$2: Enter-rise in

Society 0ecture . Availale at: 3tt-:studys-ace.kingston.ac.uk

6Accessed: 1$ !ovemer 21

Nones9 >. and +illey9 #. 2. Mar/eting,- Mar/eting

Ne"s, 3O (15), 181O.

iu, !ong (15), Mar/et Hrientation an irm Si@eC =n mpiri%al

+amination in :; irms,- uropean Journal of Mar/eting, 2 (1), 581.

ot3"ell9 . 61'9 Innovation and 8rm siLe: a case for dynamic

com-lementarity= or is small really eautifulU,9 Nournal of /eneral

&anagement9 vol. 9 no. 9 --. $C2$.

ot3"ell9 . 61'' Small 8rms9 innovation and industrial c3ange,9 Small

Business Economics9 vol. 19 no. 19 --. $1CD4.

ot3"ell9 . and Vegveld9 H. 61'2 Industrial Innovation and (ulic (olicy9

#rancis (inter9 0ondon.

Sc3mookler9 N. 61'DD Invention and Economic /ro"t39 @arvard Pniversity

(ress9 *amridge9 &A.

Smallusiness.com. 21. +3e im-ortance of usiness 8nance. Q>nlineR

3tt-:smallusiness.c3ron.comim-ortanceCusinessC8nanceC41'.3tml

QAccessed !ov 21R

Startu-loans.co.uk.219 Start u- loans. Q>nlineR Availale at:

""".startu-loans.co.uk QAccessed: !ov 21R

Stinc3come9 A.0. 61'D$: Social Structure and >rganiLations9 In: &arc39

N./. 6ed9 @andook of >rganiLations. *3icago: and &c!ally O *om-any9

142C1'.

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Sue Birley9 5aniel #. &uLyka 62. Mastering ntrepreneursip. @arlo" :

(earson Education9 2. 41.

Su--ort.uick8le.co.uk. 21. 0imited com-any vs Sole traderC H3at,s t3e

est legal status for your usinessU Q>nlineR

3tt-:su--ort.uick8le.co.uklimtedcom-anyvssoletrader.3tm

QAccessed !ov 21R

+ale 1: >ce of !ational Statistics9 2D

+E5 621 Steven No3nson: H3ere good ideas come from. Availale at:

3tt-:""".ted.comtalkssteveno3nson"3eregoodideascomefrom.3

tml6Accessed: 27t3!ovemer 21

+3ecareercafe.co.uk. 21. Startu- usiness failure rates y industry

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=aila&le atC ttpsCt"itter.%om24rin/sK=%%esseC 2 No 2013L.

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=aila&le atC ttpsCt"itter.%omungr#ouseK=%%esseC 2 No 2013L.

Pkcfa.org.uk. 21. @ome: P? *ro"dfunding. Q>nlineR

3tt-:""".ukcfa.org.ukQAccessed !ov 21RFerees, J.!.M. rans an Matte" .. Meulen&erg (2004), Mar/et

Hrientation, 7nnoatieness, Arou%t 7nnoation, an Aerforman%e in Small

irms,- Journal of Small Business Management, 42 (2), 1348154.

Hig3t9 E. 21. Small &usiness tipsC o" to use so%ial meia to &oost&usiness. QonlineR Availale at: 3tt-:""".t3eguardian.comsmallCusinessCnet"ork21aug2'socialCmediaCoostCusinessCti-sQAccessed: 24t3 !ov 21R.

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http://support.quickfile.co.uk/limted_company_vs_sole_trader.htmhttp://www.ted.com/talks/steven_johnson_where_good_ideas_come_from.htmlhttp://www.ted.com/talks/steven_johnson_where_good_ideas_come_from.htmlhttp://thecareercafe.co.uk/blog/?p=10781http://twitter.com/http://247drinks.co.uk/https://twitter.com/247drinkshttp://twitter.com/http://hungryhouse.co.uk/https://twitter.com/hungryhousehttp://www.ukcfa.org.uk/http://support.quickfile.co.uk/limted_company_vs_sole_trader.htmhttp://www.ted.com/talks/steven_johnson_where_good_ideas_come_from.htmlhttp://www.ted.com/talks/steven_johnson_where_good_ideas_come_from.htmlhttp://thecareercafe.co.uk/blog/?p=10781http://twitter.com/http://247drinks.co.uk/https://twitter.com/247drinkshttp://twitter.com/http://hungryhouse.co.uk/https://twitter.com/hungryhousehttp://www.ukcfa.org.uk/


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,- )ppendices.

&- roup Lo".

0499203:

- e6ers %resent.

1.1. 5ex @ill

1.2. Sandra Am-iire

1.. Names ?asiryeCSealu

2- Su&ry o* eetin".

2.1. &emers of t3e team introduced eac3 ot3er and contact

details "ere exc3anged to kee- communication "it3in t3e grou-

constant. A forum "as set u- on a messaging a-- on our moile

-3ones to kee- u- to date "it3 eac3 ot3er. >nly t3ree memers

made our grou- as "e "ere slig3tly late in c3oosing a grou-

2.2. +3e draft intervie" guide "as revie"ed y osemary At3ayde9

our module leader9 3aving made a note of t3e necessary c3anges

t3at "e needed to im-lement. e

899203.

- e6ers %resent.1.1. 5ex @ill1.2. Sandra Am-iire

1.. Names ?asiryeCSealu2- Su&ry o* eetin".

1 ; ( a g e


24/38

2.1. +3e main task "as set out to e to 8nd a usiness "it3 "3ic3

to set u- an intervie" "it3 in t3e ?ingston area. A vote "ould e

set u- to -ick from t3e ones eac3 individual came "it3.2.2. !ext intervie" date set u- to e.

2099203.

- e6ers %resent.1.1. Sandra Am-iire1.2. 5ex @ill1.. Names ?asiryeCSealu

2- Su&ry o* eetin".2.1. 247drinks "as c3osen as it marked all areas of our small

usiness selection criteria "e "ere looking for to identify a

successful S&E in t3e local area.

2.2. 5i


25/38

2;99203:

- e6ers %resent.

!one as %irtual meeting took -lace. A ne" memer to our grou-

"as added. Sandra re-lied to an email sent out y a3ul "3o "aslooking to oin a grou- follo"ing some mitigating circumstances out

of academic "ork. All memers of t3e grou- "ere noti8ed and "e all

agreed it "ould e ene8cial ot3 to us and to a3ul to oin t3e

grou-.

2


26/38

1.. Sandra Am-iire1.4. a3ul !anda

2- Su&ry o* eetin".2.1. +3e 8nis3ing touc3es to t3e re-ort "ere com-leted ready for

3anding in via Studys-ace. All -arts "ere a--roved y all memers

and u-on reac3ing satisfactory standards9 t3e re-orts "as 8nalised

and 3anded.2.2. #rom t3is ex-erience9 "e all ecame friends and 3o-ed to

"ork toget3er in future assignments given t3e c3ance.

6- ,nter'ie "uide =uestions &nd t>eir sources.

,ntroductory =uestions Sources

H3en did t3e usiness start

tradingU

/eneral uestions aout t3e usiness

H3at ty-e of usiness are youU

E.g. Sole +rader9 (artners3i-9

(0* etc.

@o" many em-loyees are

t3ereU

Are t3ere any executive or nonC

executive directorsU

H3at "as t3e motivation e3ind

starting your usinessU

H3at -rolems did you face

"3en you started t3e usinessU

H3o are your customersU

H3o are your su--liersU

21 ; ( a g e


27/38

/etorkin" =uestions- Sources.

Here you ale to use contacts

from your -revious ex-erienceU

0ecture 2 net"orking, slides

@ave family and friends 3el-ed

"it3 t3e usinessUCIf so9 in "3at "aysU 5id you 8nd

t3is 3el-fulU

0ecture 2 net"orking, slides

H3en you started t3e usiness9

3o" did you 3ire your em-loyeesU

5enise E. #letc3er922 (age 12

@o" 3ave your contacts 3el-ed to

develo- t3e usinessUC@ave you managed to maintain

t3ese relations3i-sUCH3ic3 contacts 3ave een t3e

most 3el-fulU

C@ave your contactsc3angedgro"n since you eganU

5uini9 ( and Aldric39 @9 61''1

@o" easy 3ave you found

net"orking "it3 -otential

customersU

5eakins. 5 and #reel. 6212 -g. 24

22 ; ( a g e


28/38

Are you a memer of any

usiness organisationsU E.g.

*3amer of *ommerce.C5o you meet informally "it3

ot3er usiness o"ners9 su--liers9customersU If so9 t3en is t3is

usefulU

/eneral usiness uestion.

&rketin" ?uestions- Sources-

@o" did you attract your

customersU

/ilmore and *arson et al 621 9--.DC11

H3at kind of feedack 3ave you

3adU

Stokes &odel of S&E &arketing

If you "ere to start t3e usiness

again9 "ould you -romote it

di


29/38

24 ; ( a g e


30/38

1in&nce =uestions Sources

!ever uy "3at can e oug3t

secondC3and9 never uy "3at can

e rented9 never rent "3at can e

orro"ed9 never orro" "3at cane egged and never eg "3at can

e salvaged,9C5o you elieve t3is statement is

true for entre-reneurs9 "3yU

0ecture 2 slides

Has t3e initial ca-ital sucientU /eneral usiness uestion

5id your family and friends 3el-

8nanciallyU

e%ture 3 slies. BS5302

H3at ot3er sources of 8nance did

you use to fund t3e startCu-U

5eakins9 5. O #reel9 &.6212

--. 4C11

@o" long did it take efore you sa"

a return on your investmentU

/eneral usiness uestion

@as t3e usiness needed any

furt3er investment since launc3U

/eneral usiness uestion.

@as t3e economic climate a


31/38

,nno'&tion =uestions. Sources.

*an you give an exam-le of

innovation 6making ne" t3ings

3a--en to increase demand

t3at you 3ave im-lementedU


@o" often do you revie" t3e

usiness o-eration and market

to look for "ays to innovateU

5oes t3is give you an edgeU


5o you feel t3e usiness 3as

gro"n since you egano-eratingUCIf so9 3o" 3ave you ada-ted to

co-e "it3 t3e gro"t3U


5o you feel sucient

assistance 3as een -rovided

y government agencies "3en

looking to introduce innovative

sc3emesUC Are you a"are of any loans or

grants t3at could assist "it3

t3ese ideasU


H3at do you consider to e t3e

main source of innovation in

your usinessU

/eneral Business Xuestions

@as feedack fromcustomerssu--liers 3el-edU

/eneral Business Xuestions

5o you -lan to introduce ne"

services and venture into ne"

marketsU


2D ; ( a g e


32/38

27 ; ( a g e


33/38

1uture p!&ns9Etern&!

inuences.

Sources.

H3ere do you see t3e

usiness in a yearU

H3at do you t3ink is t3e

most im-ortant external

factor t3at a


34/38

H3en did t3e usiness start tradingU

H3at ty-e of usiness are youU E.g. Sole +rader9 (artners3i-9 (0*

etc.

@o" many em-loyees are t3ereU

Are t3ere any executive or nonCexecutive directorsU H3at "as t3e motivation e3ind starting your usinessU

H3at -rolems did you face "3en you started t3e usinessU



!et"orking Xuestions

Here you ale to use contacts from your -revious involvementsU @ave family and friends 3el-ed "it3 t3e usinessU

H3en you started t3e usiness9 3o" did you 3ire your em-loyeesU @o" 3ave your net"orks 3el-ed to develo- t3e usinessU

C @ave you managed to maintain t3ese relations3i-sU

@o" easy 3ave you found net"orking "it3 -otential customersU

Are you a memer of any usiness organisationsU E.g. *3amer of

*ommerce.

&arketing Xuestions

If you "ere to start t3e usiness again9 "ould you -romote it

di


35/38

@ave you ex-erienced any cas3 )o" -rolemsU

Innovation

*an you give an exam-le of innovation 6making ne" t3ings 3a--en

to increase demand t3at you 3ave im-lementedU @o" often do you revie" t3e usiness o-eration and market to look

for "ays to innovateU 5oes t3is give you an edgeU

5o you feel t3e usiness 3as gro"n since you egan o-eratingUC If so9 3o" 3ave you ada-ted to co-e "it3 t3e gro"t3U

5o you feel sucient assistance 3as een -rovided y government

agencies "3en looking to introduce innovative sc3emesUC Are you a"are of any loans or grants t3at could assist "it3 t3ese

ideasU

H3at do you consider to e t3e main source of innovation in your

usinessU

@as feedack from customerssu--liers 3el-edU

5o you -lan to introduce ne" services and venture into ne"

marketsU

External In)uences#uture (lans

H3ere do you see t3e usiness in a yearU

H3at do you t3ink is t3e most im-ortant external factor t3at a


36/38

d- 1in&! ,nter'ie uide.

@ello9 "e are 4 Business Students from ?ingston Pniversity looking to

increase our kno"ledge of Small to &edium Enter-rises9 and as suc39 "is3

to ask you some uestions aout your enter-rise. He look for"ard to

3earing aout t3e ex-eriences you 3ave 3ad from t3e starting of yourusiness to t3e current dayCtoCday running of it. +3ank you.

Introductory Xuestions

H3en did t3e usiness start tradingU

H3at ty-e of usiness are youU E.g. Sole +rader9 (artners3i-9 (0*

etc.

@o" many em-loyees are t3ereU

Are t3ere any executive or nonCexecutive directorsU

H3at "as t3e motivation e3ind starting your usinessU

Here t3ere any -articular c3allenges "3en you started your

usinessU



!et"orking Xuestions

Here you ale to use contacts from your -revious ex-erienceU

@ave family and friends 3el-ed "it3 t3e usinessUC If so9 in "3at "aysU 5id you 8nd t3is 3el-fulU

H3en you started t3e usiness9 3o" did you 3ire your em-loyeesU

@o" 3ave your contacts 3el-ed to develo- t3e usinessUC @ave you managed to maintain t3ese relations3i-sUC H3ic3 contacts 3ave een t3e most 3el-fulUC @ave your contacts c3angedgro"n since you eganU

@o" easy 3ave you found net"orking "it3 -otential customersU

Are you a memer of any usiness organisationsU E.g. *3amer of

*ommerce.C 5o you meet informally "it3 ot3er usiness o"ners9 su--liers9

customersU If so9 t3en is t3is usefulU

&arketing Xuestions

@o" did you attract your customersU

If you "ere to start t3e usiness again9 "ould you -romote it

di


37/38

@o" do you use social media to -romote your serviceU

#inance Xuestions

!ever uy "3at can e oug3t secondC3and9 never uy "3at can

e rented9 never rent "3at can e orro"ed9 never orro" "3at cane egged and never eg "3at can e salvaged,9C 5o you elieve t3is statement is true for entre-reneurs9 "3yU

Has t3e initial ca-ital sucientU

5id your family and friends 3el- 8nanciallyU

H3at ot3er sources of 8nance did you use to fund t3e startCu-U

@o" long did it take efore you sa" a return on your investmentU

@as t3e usiness needed any furt3er investment since launc3U

@as t3e economic climate a


38/38

+3ank you for your taking t3e time to talk to us. /ood luck in t3e future9

"e 3o-e you ful8l your oectives.

Documents

GOOD Example Report - Entreprise in society