Planning for Growth: Evaluating Opportunities, Funding Sources, and Business Plan Development

PLANNING FOR
GROWTH

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
Key consideration for evaluating growth opportunities in relation to organization....................3
Evaluation of growth opportunities by making use of Ansoff Growth Matrix............................5
Task 2...............................................................................................................................................5
Assessment of various sources of funding that can be used by business.....................................5
Task 3...............................................................................................................................................7
Development of business plan.....................................................................................................7
Task 4.............................................................................................................................................11
Assessment of exit and succession strategies along with its benefits and drawbacks...............11
CONCLUSION..............................................................................................................................13
REFERENCES................................................................................................................................1

INTRODUCTION
Planning for growth is strategies or key action that are planned by business to undertake
in order to expand business operation so that end goals can be achieved in the best possible
manner. Manager of company need to devote high time, efforts and energy to design appropriate
course of action that firm can take to enjoy maximum profitability and market share. Don’t-
Look-Further is catering services provider business that provide food, wines from high quality
suppliers. This report has highlighted crucial point related to key consideration that manager has
to think while planning and evaluating available growth opportunities. Moreover, it has also
contained detailed related to potential sources of funding that are available of small and medium
business to meet various expenses. At last, it has included business plan and various existing
strategies that could be used by business to cease its operation in external environment.
MAIN BODY
TASK 1
Key consideration for evaluating growth opportunities in relation to organization
There are numerous things which needs to be considered by manager of Don’t-Look-
Further Catering Services while evaluating and analysing several growth opportunities that are
available in external environment. The areas that needs to be considered by manager while
planning for its growth and development can be illustrated as follows:
Competitive advantages: In order to understand the way Don’t-Look-Further Catering Services
can retained its competitive advantages in external environment can be explained through use of
VRIO model such as;
Resources Value Rare Imitable Organize
Human
resources
Yes No Yes Yes
Technology Yes No Yes Yes
Products and
services
Yes No Yes Yes
Brand image Yes Yes No Yes

Valuable: It can be stated that Don’t-Look-Further Catering Services have valuable human
resources that are ready to give their best so that company can earn maximum market share and
profitability. Better quality of food and services maintained by company has helped in satisfying
needs of customers in the best possible manner, Brand image is also valuable as it contributes in
retaining and attracting new customers within organization (Friedmann, 2017).
Rare: From the above table it can be represented that human resources, technology and products
and services are not rare of company as it are also presented by several other organization.
Furthermore, it can be stated that brand image is rare as company delivered differentiate products
and services to various customers.
Imitable: Brand image is only element which cannot be copied while all other that is human
resource, technology and products and services can be easily imitable by several organizations to
enhance their profitability.
Organized: Effective arrangement and organization of various resources such as human,
technology, brand image and products and services of company has helped in retaining
competitive advantages.
New products and services: Don’t-Look-Further Catering Services manager by focusing on
development of products and services such as by adding organic products in food range can fulfil
needs of customers. Thus, manager of company by focusing on innovating its products or
making improvement is able to build strong brand image (Liu and et.al., 2020).
Identification and mitigation of risk: There are various risk associated with business which
needs to be mitigated so that company can grow and sustain for many years. Such as:
Financial risk: For effective operation of Don’t-Look-Further Catering Services, there are
various financial resources that company will require. So, high financial risk can be mitigated by
manager through effectively evaluating the outcome it can gain from particular investment.
Competition risk: Another risk associated with business is competition risk as there are various
competitors in external environment that have more qualitative products and services. So, Don’t-
Look-Further Catering Services, in order to mitigate competitive risk needs to focused on
differentiating its products and services to make customers happy and satisfied.
Collaboration: Moreover, it can be stated that manager while planning for growth needs to
considered collaboration or joint venture in order to enter into international market. Don’t-Look-