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Planning for Growth Assignment Solved

   

Added on  2020-10-05

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Planning for Growth

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analysis of key consideration for evaluating growth opportunities.................................1P2 Opportunities for growth using Ansoff's growth vector matrix........................................3TASK 2............................................................................................................................................4P3 Potential sources of funding with their advantages and disadvantages............................4TASK 3............................................................................................................................................6P4 Development of business plan for company's growth.......................................................6TASK 4............................................................................................................................................8P5 Succession and Exit plan for business along with its advantages and disadvantages.......8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONPlanning is the process of developing goals and strategies of the company. It helps todetermine those element that can affect the operational activities of the organisation. It is done bythe managers of the organisation to deal future consequences and risk that might occur (Barbourand Deakin, 2012). It is a problem solving tool that help the managers to resolve problems withavailable resources. Planning refers to the identification of business opportunities to achieveorganisational goals. Wiolia Media Services Ltd is a service providing company which is mainlybased in UK. Company enters to a contract which is “Architectural, Structural Engineering,Services Engineering and Cost Consultancy Services” to raise funds. This project report consistsvarious topics such as Porter's generic strategy, PESTLE analysis, Ansoff matrix, sources offunding, business plan with financial information and option for succession and exit.TASK 1P1 Analysis of key consideration for evaluating growth opportunitiesPlanning is a process of determining future goals of the organisation and formulatestrategies to attain those goals. It helps to fill the gap of current position and desired position of acompany. Without planning a company cannot execute its operations. Wiolia Media Services Ltdis a service providing company which is currently running its business in UK and willing toexpand its business in Scotland UK with upgraded services. The two key considerations toevaluate growth opportunities are explained below:Porter's generic strategy: It was developed by Michael Porter. It can be described as thestrategy which is implemented by the companies to follow the competitive advantage (Chapin,2012). This strategy is very helpful for the enterprise because it can improve the productivity andincrease profits for the company by maintaining cost according to targeted consumer. WioliaMedia Services Ltd must give emphasise of innovating in services, so feature of differentiationcan be achieved. There are four strategies that can be used by Wiolia Media Services Ltd.Cost leadership: This strategy is used by various companies to acquire more and morecustomers by setting low prices for the products or services. Wiolia Media Services Ltdcan use this strategy to attract customers of US by providing them services on lowerprices as compare to competitors (An introduction to Porter’s Generic Strategies, 2015).1

Differentiation: In this strategy a company desire to be unique in the industry alongsome conceptions that are widely adopted by customers or buyers. Wiolia Media ServicesLtd can use this strategy while providing such services that are unique and new to theScotland UK market.Cost focus: This strategy is based on the concept of focusing on the cost whileintroducing the product or service in the market. The company can set lowest possibleprice for the services that attracts the customers and generate profits. Wiolia MediaServices Ltd should introduce its services with lower price in Scotland UK market so thatcustomer get attracted to services (Christofakis and Papadaskalopoulos, 2011).Differentiation focus: This strategy is concerned with the concept of launching theproducts or services in niche market that are unique. To acquire Scotland UK marketWiolia Media Services Ltd should introduce services that are unique as compare to other.PESTLE Analysis: It is used by the companies to analyse the external and internal environmentand factors that can affect the sales and profits of the company. Wiolia Media Services Ltd canconduct a PESTLE analysis to to analyse the environment of the market where it is willing tointroduce its services.Political: These factors can be used to find out that which government policy and lawwill affect the business. There are various political factors that can affect the business ofWiolia Media Services Ltd in Scotland UK, those factors are trading policies, intercountry relations, internal political issues.Economical: These factors directly affect the economy of a country that can affect theprofitability of the running business within the country. There are various economicalfactors such as taxation, economic changes etc. that can affect the business on WioliaMedia Services Ltd in Scotland UK, as it has h strong growth rate as compare to UK , soit is a good opportunity of the company to grow its business in Scotland UK (Grover,Bokalo and Greenway, 2014).Social: These factors are based on customer's taste and preferences. It directly affect thedemand of customers. Wiolia Media Services Ltd should conduct proper research of themarket before introducing the services in Scotland UK market. It includes work ethic,cultural barriers, trends etc.2

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