My bold padlet by Aurelia Vulpe https://padlet.com/vulpe_aurelia/awn22rf3zgia5ncc Made with a taste for adventure en-us 2022-04-01 08:19:50 UTC 2025-11-09 00:44:35 UTC hello@padlet.com Small Business Managment vulpe_aurelia https://padlet.com/vulpe_aurelia/awn22rf3zgia5ncc/wish/2125069772 LON180810098]]> 2022-04-01 08:30:07 UTC https://padlet.com/vulpe_aurelia/awn22rf3zgia5ncc/wish/2125069772 1. introduction vulpe_aurelia https://padlet.com/vulpe_aurelia/awn22rf3zgia5ncc/wish/2125070987
Small business management operates a business organisation with a small area and capital. Small business management is concerned with managing employees, finances, roadmap, daily tasks, suppliers, and other business functions. In this report, we will discuss the IRMAK BBQ DUNSTABLE LIMITED. The owner of a small business organisation needs to face different challenges and problems to run business operations (Abudi and Toropov, 2011). The owner must be an active and hardworking person and must maintain all the business principles. The owner of the small business organisation also needs to know about financial management and human resource management to compete in the marketplace. Small business organisations must also play several laws and regulations to run business functions.
The name of the small business organisation is IRMAK BBQ DUNSTABLE LIMITED. The company was incorporated in 2018 in Dunstable, UK. The company provides different fast food products such as Kebabs, Platters, Wraps, meat and chips, burgers, cold and hot starters, side orders, pizza, sauces, desserts, drinks, etc. The company is a private limited company, and the industry is take-away food shops, mobile food stands, and fast-food restaurants. The company also provides online services for customers. The critical person of the company is Orhan Gurbuz. The company contains four employees in this location, and the company generates $283,078. It is the most popular restaurant in the local area. 

 


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Bovée and Thill (2013) stated that a small business organisation is established through limited resources and liabilities. There is no specific definition of small business size, but we can measure the business organisation by considering workplace regulations, economic regulations, support programs, and environmental regulations. A small business with up to 500 employees and a yearly pass is under $7.5 million is considered a small business. 

IRMAK BBQ DUNSTABLE LIMITED company contains four employees, and the annual revenue is $283,078, so the company is under small business organisation. Minor business laws in the UK regulates the company. The company has one location in the UK and provides different kinds of fast-food items for customers, so it is clearly said that it is a small business organisation (Tyson and Schell, 2013). The characteristics of success of the company that I found are demonstrated below: 

Taking risk: IRMAK company started its journey in 2018, and the company is thriving now. The company initiated the idea to open a fast-food restaurant company from where people could get their best services. The company willingly takes the high risk of opening an online platform to provide services (Lind, 2013). 

Confident, enthusiastic, and passionate: To succeed in small business operations, the owner of the small business organisation must be secure and active in the workplace. The company sets goals and objectives passionately to run business operations (Landström and Harirchi, 2019). 

Focused on achieving goals: The most important thing to focus on is to succeed in a business organisation. So, the IRMAK company set some short-term, long-term, and medium-term goals and stuck to the plans (Maeda, 2011). 

Invest in technology: This company invests more in advanced technology to increase productivity in the market. The company offers customers online business services that help to adapt to modern business trends (Abudi and Toropov, 2011). 


]]> 2022-04-01 08:33:44 UTC https://padlet.com/vulpe_aurelia/awn22rf3zgia5ncc/wish/2125073935 3. Gaps and growth potentil analysis vulpe_aurelia https://padlet.com/vulpe_aurelia/awn22rf3zgia5ncc/wish/2125097338
Lind (2013) mentioned that marketing analysis is an essential and most important thing by which a small business organisation is formed. Gap analysis is concerned with different contexts to consider about the marketing channels. The gap in a market means where a business organisation doesn't serve. Every business organisation wants to increase growth opportunities by entering the market. The gap and growth potential analysis of IRMAK BBQ DUNSTABLE LIMITED company is demonstrated below: 

Financial planning
IRMAK BBQ DUNSTABLE LIMITED makes a financial plan considering short, and long-term goals and objectives, and the company follows different kinds of strategies to achieve the goals and objectives (Bovée and Thill, 2013). The steps of financial planning, including gaps and growth of the company. 

Cash flow: IRMAK BBQ needs to meet the current obligation to ensure potential growth, so the company needs to keep cash flow available. As the company produces foods every day, the company needs raw materials every day. So, the company builds reserve for investment and emergencies (Steingold, 2011).

Marketing a small business
According to Landström and Harirchi (2019), to operate a business operation in marketplace successfully, a business organisation must follow an effective marketing strategy. IRMAR BBQ is a fast-food restaurant company and the company has a website to provide products and services to customers. So, the company needs to take time to make a marketing plan because it is the central part of a business organisation. The marketing process of the IRMAK BBQ company is demonstrated below: 

Social media marketing: The business world has been significantly changed by globalisation and advanced technology. Social media is the most popular platform in this current age, and most people spend most of their time on social media platforms (Meyer, 2017). So, the company considers the social media marketing process to attract more customers from the marketplace. As the company initially provides online services for customers, social media marketing is a powerful platform for operating business functions. Most successful companies want to make a strong community of fans and leverage social listening through the social media platform. Through the social media platform, the company can engage with customers regularly (Abudi and Toropov, 2011). 

Content marketing: The business world is very competitive because the impact of globalization and advanced technology have changed the trends and aspects of business operations. Antic marketing medium is less effective now, so the company follows content marketing. Content marketing is a very effective centre process of small business marketing. It provides the company with compounding results. Through content marketing, the company can educate the audience first and deliver customers' values through the content (Bovée and Thill, 2013). 

Search Engine Optimisation (SEO): In this modern time, SEO is the most effective tool for the marketing process. It is the process of optimisation of the website so that the audience and customers can find the site initially with their first attempt. Through this marketing process, IRMAK BBQ can ensure higher rank in the online marketplace, ensuring grabbing more customers from the market (Lind, 2013). 

Operations management
Abudi and Toropov (2011), reported that operation management is the process of maximising the efficiency of a business organisation considering the business field. Operation management contains overseeing, planning, processing, organising, and earning profits. IRMAK BBQ company is a small business organisation, so the company follows operation management very carefully. Through this process, the company balances revenue, and costs to achieve the highest possible operation profit. The food industry is very competitive and challenging in this current world (Miller and Jones, 2013). In a restaurant company, various operations are considered, such as foodstuff, preparation, costs of food, beverage, labour, purchasing, etc. The responsibilities that the company follows from the operation management is demonstrated below: 

Product design and quality: Customers always prefer unique products and new flavours in food items. Product design means creating exceptional flavoured food for customers that will be sold to the customers' end. The owner of the IRMAK BBQ company wants to meet the customer's needs and wants, so the company considers the customer's feedback and makes the items (Maeda, 2011). 

 Leadership and teams
Leadership keeps the team and managers focused on achieving the goals and objectives. The leaders of a business organisation motivate employees to achieve their goals and objectives. IRMAK BBQ has four employees as it is a small business organization. Orhan Gurbuz is the company leader and has led the company successfully in this current time (Nickels, McHugh, and McHugh, 2013). The restaurant business sector is very competitive globally, but the company operates business operations successfully with limited employees. The leadership and team management that the company follows are demonstrated below: 

Foster open and honest communication: IRMAK BBQ started its business functions in 2018, and the business organisation is very much successful now. The company creates an open and honest environment considering all aspects of effective communication. So, the company maintains regular contact with employees and customers (Bovée and Thill, 2013). And the company collects feedback and asks questions to get a review, and thus, the company removes the obstacles from the ways. 

Creating collaborative goals: IRMAK BBQ strictly follows the rules and regulations to achieve its goals and objectives. The company makes collective goals with the employees, considers team needs, and aligns with the detailed KPIs. When the company shares its goals and aims with employees, they feel essential to the company (Reid, 2011). Thus, the employee's performance increases, and the company quickly achieves its goals and objectives. 

Allow members to solve problems: IRMAK BBQ allows employees to solve any problems of the company that helps employees brainstorm and make proper suggestions. Thus, the company makes appropriate solutions and empowers the employees to think creatively. Therefore, the company's employees can develop confidence and forecast a sense of ownership (Maeda, 2011). 

Provide adequate resources and training: The owner of the IRMAK BBQ company provides different kinds of training programs for the employees to keep up to date with current trends and advanced technologies to identify opportunities (Landström and Harirchi, 2019). 

Keep accountable: Orhan Gurbuz operates the IRMAK BBQ company. He has created such a business environment where all employees are responsible for their responsibilities, including him. Thus, the company addresses the issues of teamwork and collaboration to achieve its goals and targets (Lind, 2013). 

Keeping an eye on the business: IRMAK BBQ is a small business organisation, so the owner of the company can monitor the activities of each employee very carefully. The company regularly checks the day-to-day activities and shows how each employee contributes to achieving the goals and objectives (Abudi and Toropov, 2011). 



 


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IRMAK BBQ company is operated its business functions through a single store. The company collects raw materials from the marketplace and processes the raw material to make restaurant food items. The company started its journey in 2018 and is very much successful now. Though the company is successful has some gaps in the marketplace (Mamaeva, 2019). To sustain itself in the competitive market, the company needs to remove the cracks and ensure growth. 

At first, the company needs to do effective financial planning to keep balance liquidity in the company. If the liabilities are increased, the company can't operate business functions properly because it is a small business organisation. The company also needs to depend on its capital to invest. Again if the company keeps excessive liquidity in the organisation, the company can't earn a profit, so the company needs to invest money to stay balanced (Lind, 2013). The company makes a huge profit, so the company needs to invest more money to expand the service area. 

Secondly, the company follows a very effective marketing plan, but the company needs to consider more digital tools to promote business functions. The company can use email marketing for making formal communication with customers. The age is very competitive, so the company also needs to be up to date with current market trends (Landström and Harirchi, 2019). The marketing process is primarily dependent on advanced technology, so the company needs to ensure a high use of advanced technology. The company also can use Instagram marketing. The company only considers Facebook and Twitter, so Instagram is another essential social media platform where many people are connected. 

Thirdly, the company needs to deliver products and services quickly and appropriately. As the company has offline and online services, the company needs to recruit more employees to deliver products. Thus, the company can increase its performance in the marketplace and increase its growth. The supply chain of the IRMAK BBQ company also needs to update to provide products and services efficiently (Bovée and Thill, 2013). 

At last, the company needs to engage with an effective leadership style. The company owner tries to be up to date with current trends, but he needs to collaborate with employees more. The company needs to conduct effective market research; that is the most significant gap, so the company needs to focus on the proper market research (Abudi and Toropov, 2011). 



5. Conclusion 

Small business management is managing a small business successfully, such as planning, marketing, advertising, investing, decision making, distributing. The main objective of managing a small business is to achieve its goals and objectives. The business world has been significantly influenced by globalisation and advanced technology, so operating small business organizations is very tough in this current world. The report is all about the small business management considering the IRMAK BBQ DUNSTABLE LIMITED. The company is a food and restaurant company. The restaurant business sector is very competitive at this current time. The business organisation is situated in the UK, and there are many restaurants in the UK. So, the company faces lots of competition. By reading this report, people can understand the company overview of IRMAK BBQ, minor business criteria, identifying the characteristics of small business successful, financing planning of the company, marketing process, operation management, leadership and teams, and recommendations for IRMAK BBQ company. 


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Our group contains of four members: Aurelia, Ausra, Claudia and Daniela. As per peer review meeting, it was challenging at the times. There was divided opinions between 2 businesses which we felt was a potential viner. Therefore, as a group, we have done additional research to understand its financial position better. That led us to the conclusion in choosing one of the company -Turkish restaurant IRMAK BBQ (Aurelia’s selected business).  

The reason we selected IRMAK BBQ is the business generates excellent profits from the marketplace with just four employees since 2018. As the restaurant business sector is very competitive, organisation still manages to make generous profits and increase its growth rapidly. This is because of a good and creative management. All this information helped us to dispel our disagreements and we are happy with our final choice of business.

As the company provides services in one place in the UK market, we will offer them to expand the area and we will finance 70% of liquid assets for developing the business organisation with the condition that we will withdraw 30% of profits from the business, after the expenditures have been made, for a period of five years. Additionally, we would offer them the ideas, solutions, and connections necessary for the business organisation to expand the area of work, due to the fact that it has an outstanding possibility to make a considerable profit. The expenditures of the first new established restaurant will be financed 50% by us, with the condition of having 15% of the profits in the first three years.



References

Abudi, G. and Toropov, B., 2011. The complete idiot's guide to best practices for small business. Indianapolis, IN: Alpha Books.

Bovée, C. and Thill, J., 2013. Business in action. Upper Saddle River, N.J.: Pearson.

Landström, H. and Harirchi, G., 2019. “That’s Interesting!” in Entrepreneurship Research. Journal of Small Business Management, 57(sup2), pp.507-529.

Lind, P., 2013. Small Business Management in Cross-Cultural Environments. Hoboken: Taylor and Francis.

Maeda, M., 2011. The encyclopedia of small business forms and agreements. Ocala, Fla.: Atlantic Pub. Group.

Mallett, O., 2019. Book review: Managing people in small and medium enterprises in turbulent contexts. International Small Business Journal: Researching Entrepreneurship, 38(2), pp.135-136.

Mamaeva, M., 2019. IMPROVING THE MECHANISM FOR MANAGING THE FINANCIAL SUSTAINABILITY OF A SMALL BUSINESS ORGANIZATION. Business Strategies, (3), pp.32-36.

Meyer, C., 2017. Book review: Small business in a global economy: Creating and managing successful organizations. International Small Business Journal: Researching Entrepreneurship, 35(1), pp.138-139.

Miller, J. and Jones, R., 2013. Managing Risks in Business. Burlington: Elsevier Science.

Nickels, W., McHugh, J. and McHugh, S., 2013. Understanding business. New York: McGraw-Hill/Irwin.

Reid, J., 2011. Small business survival guide. Boston, MA: Course Technology, Cengage Learning.

Schaper, M. and Schaper, M., 2014. Entrepreneurship and small business. Milton, Qld.: John Wiley and Sons Australia.

Steingold, F., 2011. Legal guide for starting & running a small business. Berkeley, Calif.: Nolo.

Tyson, E. and Schell, J., 2013. Small business for dummies. Hoboken, N.J.: John Wiley & Sons.




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