Planning for Growth : Creams & Buns
Added on 2021-02-21
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Planning for Growth
Table of Contents
INTRODUCTIONPlanning for growth is the vital concept which is helpful to ensures business growth andlong term sustainability for firm to operate in most suitable or productive environment. Growthof the firm will be takes review after analysing current strategies or action plan to ensures that firm would accomplish its defined goals or objectives (MacLeod, 2013). In current era, planning isthe ongoing task to plan's for development of strategies or suitable outlook to rise businesspredictabilities. This report will be carry on Creams & Buns, which is the leading cafes plusbakery to offer's out delicious eateries to their customer's. In other way, report puts light onanalyse key consideration for evaluating growth opportunities and its justification, discussing anopportunities for growth applying supportive model, checking potential sources for fundingalong with drawbacks and benefits. Report will also designing business plan covering financialinformation & strategic objectives. Lastly, report will also discuss on exit or succession option. MAIN BODYP1 Key considerations for evaluating growth opportunities and justify these considerationsGrowth is vital for every firm to operates in different situation and condition of businessenvironment. In business era, growth such as business expansion, rise in profitability, expandingbusiness on global platform etc. are expected to engages (Lewis, 2013). Also, business growth isa stage where firm start from diminishing point and reaches out to expansion or businessdevelopment. During this, firm uses its resources such as human resources, material, fund,technology etc., which help to provides situation to firm's operation in the expected platform.Creams & Buns is necessary to check & evaluates elements of competitive advantage such ascore competencies, resources, capabilities etc. to know how long selling & business suitabilitywill go. Discussion is as given under: Competitive advantage: This is a favourable position for firm which help to reach atmore profitable stage than its competitor. Effective utilisation of a resources will be vital part togather competitive position in the bakery market. Creams & buns is vital to be considers factor'ssuch as:Resources: In creams & buns, resources such as manpower, funds, time, resources etc., isnecessary to produces bakery product's such as coffee, buns, cookies etc., in order to get strongposition into the business environment.
Capabilities: Creams & buns has right people who have skills or ability who is capable isbeing to rise growth & capabilities of this new venture. Core-competencies: This is the mixture of multiple resources such as skill, technology,worker, material etc., which can be termed as core-competency for growth suitability of Creams& buns. With these resources, demand of consumer is expected to be rise (Levy, J. M., 2016) Along with this, assessment of the forces such as political, economic, technological etc.,should be taken into consideration using pest model to do external assessment for the creams &buns. An above analysis of an entire Pest is as given below: PESTPolitical: Changes in political state of United Kingdom may lead to shifts in buyingpower of consumers or tax policies, thereby affecting the operations of creams & buns.Economical: Recession can act as one of the most crucial economical factors that canhave a massive influence upon the operations of creams & buns and to deal with this, companymay have to reduce the pricing of its offerings (Schetke, Haase and Kötter, 2012).Social: Social media is one of the most liked trends across the globe making use of whichcreams & buns can significantly reach to maximum number of people to effectively promote itsproducts or services among clients (Pred, 2017). Technological: Creams & buns can make use of latest techniques and processes to gain anedge over rivals and also captivate the attention of customers, thereby enhancing its sales. Porter generic strategies:This strategy is useful to identifying right direction or path for cream & buns. Porter havethree different strategies such as cost, differentiation, focus (cost or differentiation) places vitalrole to creates demand or necessities for this leading cafe's. The discussion is as given under: Cost leadership: In this strategy, firm is sets out to become low cost producer in its ownindustry. The sources of cost advantage is varied & also depends on the structure of an industry.This will assist creams & buns to rise their economies of scale, increasing use of an advancedtechnology and also led an easy access to the raw materials to protect rise in cost. Differentiation: In this strategy, firm is seeks to be look unique in its respective industryfocusing on dimension such as colour, size, taste, features or characteristics etc. In present time,
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