SMALL BUSINESS ENTERPRISE

Managing Small Business Enterprise

Managing Small Business Enterprise

Methodology for Measuring Performance

There are two research methods for performance management of a business or an organization. The qualitative method of research offers the subjective and observatory judgments to measure the performance while the quantitative method of the research helps the researchers understand the issues in the form of figures and numbers. Both of the methods have their respective advantages and benefits. The research is conducted for measuring the performance of the business and it is important for the organization to measure its performance in order to acknowledge its performance within the business environment.

The method used to measure performance for this business is the qualitative method of the research. Qualitative method of the research is divided into five techniques which include ethnography, projective techniques, observation, interviews and focus group discussions (Myers, 1997, pp. 241-242). The main purpose for selecting the qualitative approach for this research is to analyze the hurdles and problems which are diminishing the revenue of the business. In this way this research will help identify the inner feelings of the people and their beliefs about the business.

Observation Technique for Qualitative Research

For current research we are using the observation technique for this qualitative research of the business. In this technique the researchers are not expected to talk to the workforce and the employees while conducting the research. The researches observe the workers and employees during this research method and do not interfere during the work hours of the employees which may distract them from their work. For conducting the business research we observe the behavior of the employees and trainees with the clients and locate the number of clients and customers which are choosing our beauty salon (Mays, 2000, pp. 50).

This technique requires more energy and time and it is suitable technique for measuring the performance of this business. This research technique and methods involve the use of non numeric terms and is expressed in the images and using the language. With this technique we observe the nature, attitude and behavior of the personnel within the employed workforce in order to identify the issue. While observing the employees it will ensure the quality of service the employees are delivering to the customers. The communication of the employees and welcoming the clients in the salon for delivering the service.Seeing them off after delivering the service and ensuring the satisfaction of the customer.

Market Share Analysis

This method is used to compare the performance of the business with the competitor's performance and sales. The market analysis method identifies and forecasts the market growth, the competitors and the projected sales for the business. The purpose of using the market share analysis to determine the market share that will be targeted by the business. In this way the business will determine the value of market share for examined type of business. In order to analyze the market share the researcher examines several factors within the business ...