Entrepreneurship and Small Business Management

Question: Discuss about the Entrepreneurship and Small Business Management. Answer: Introduction NZ Supply Ltd is a New Zealand based company which started its journey as a small company but due to their dedication towards their customers, they earned much profit every year and with the profit they started their own venture in 2004. Shortly after doing so, they earned a profit of $2 million from the sale of $10 million appliances which was a great leap for the company. Initially the company worked only in the Northern part of the island but later they expanded their market to the Southern Island too (Chung, 2014). The company lacks in proper information system and promotional strategies. The report discusses about how the business works and what they should do so that they can do much better. Also, the SWOT analysis is performed in order to help them find their strengths and weaknesses. NZ Supply Ltd is one of the biggest distributors of Appliance parts across the country. It was originally started by Tom Mitchell and his wife Sarah who owned a shop in Central Auckland. The company that they started grew gradually and in 2004 using capital for venture earned a good profit every year. From the sale of $10 million, NZ Supply turned $2 million in profit with over 80 retailers in North Island and 20 retailers in South Island. For the central distribution part, they purchased a warehouse in Penrose. Majority of the company operates from in the Northern part of the Island so they decided to expand their business in the Southern part for which they set up their company to Christchurch in South Island (Peteraf, Gamble Thompson Jr, 2014). Initially the South Island is a small distribution center who was responsible for the distribution of products to the retailers. In the year 2011, the company opened a regional office in a small warehouse that they purchased in Christchurc h which was mainly used for central distribution and retailing where they received products in bulk amount (Trinkunas, Rusinaite Vasilecas, 2015). The main objective was to provide delivery services to all the customers three times more. Packaged products were dispatched from Auckland and Christchurch after they received any confirmation phone calls or email from the retailers. The company had a total of six cars and four vans on the road for six days a week for the Northern part of the Island and two cars and a large van for local deliveries around Christchurch (Sawang, Parker Hine, 2016). Description of NZ Supply Ltd NZ Supply Ltd is a New Zealand based company which is a renowned organization and is the biggest supplier of appliances. The market of NZ Supply Ltd has gradually grown and is recognized worldwide. Initially the company started its company as a small organization after which they used the capital that they earned from the profit each year and opened a chain of their own (Schaper et al., 2014). At the very beginning, the company was recognized in the northern part only but later due to their popularity they went on expanding their market in the Southern part also (Ates et al., 2013). For the transportation purpose, they had a total of six cars and four vans that worked continuously for six days in the Northern part and for the Southern Part, two large cars and a large van were used. The company was organized by a General Manager, Office Manager, Marketing Manager, North Island Distribution Manager, HR Manager and Christchurch Manager and IS Support Technician. Casual laborers were bou ght in the company when there is huge demand for the appliances (Kasemsap, 2015). The only problem that the company faced was the lack of proper information system. The company till date uses the outdated system just for some calculation part and storing data. Strategy Evaluation and Future Prospect of NZ Supply Ltd The company is a well renowned organization in New Zealand and in order to expand its market to greater extent; it needs to work out in some areas where they had greater chance of improving. The very first thing that they need to improve is to advertise their company so that it gets recognized by many MNCs and they get promoted (Jeston Nelis, 2014). The second thing that they need to look after is to improve their information system where they can monitor everything also they can store all their crucial information and store their backup (Al-Mamary et al., 2014). The system that they are using currently is mostly outdated and need to be replaced. The third thing that they can do is that they need to manufacture something more innovative so that they are recognized within their own country (Chung, 2014). In this way they will be one step ahead of their competition and people will look up to them. Improving on these sections can greatly help the company to grow in future. With the advertisement in the social media is perfect as everything is digitalized and news over social media spread like fire. With the promotional techniques they will get recognized more by some MNCs which will help them to grow even more and make a name for themselves (Baltzan Phillips, 2016). With the installation of new and improved information system they can easily evaluate the market and get to know more about the market and also about their own company. With the help of information system, they can also perform all their work more effectively and there will be no need to enter any data manually. Better decision making is also possible with the help of new and improved information system (Al-Mamary et al., 2014). Also producing something out of the blue will definitely help them to gain reorganization in the global market and help them to make tie ups with many new companies. The company was started by John Mitchell and his wife and gradually it went to become one of the biggest suppliers of appliances and also got reorganization in its own country. The company earned profit every year from which they started their own venture in the year 2004 and expanded their market when they bought a warehouse in Penrose, Auckland. Initially Penrose was the main distribution center and later the company saw that they need to expand their market to the southern part also so they bought a warehouse in Christchurch where all the major retail operations were done. The main objective of the company was to connect with as many people as they can so that they get that much reorganization that they can expand globally. But due to the lack of proper information system and promotional strategies, they were still lacking. Conclusion NZ Supply Ltd did whatever they could in order to grab the market but still there were some shortcomings that were never fully met. In order to be the best, they need to rectify all those shortcomings by installing proper information system and get rid of those outdated system. With the help of proper information system, better decisions can be made which will help the company to grow more and more. Also the promotional; strategies should be applied properly and they should make sure that it reach out to maximum of people. References Al-Mamary, Y. H., Shamsuddin, A., Abdul Hamid, N. A. (2014). The role of different types of information systems in business organizations: a review.International Journal of Research (IJR),1(7). Ates, A., Garengo, P., Cocca, P., Bititci, U. (2013). 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