Planning for Growth : Assignment
16 Pages4230 Words53 Views
Added on 2020-10-05
Planning for Growth : Assignment
Added on 2020-10-05
ShareRelated Documents
Planning forGrowth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Key considerations for the evaluation of business growth...............................................1P2. Ansoff model or matrix for business growth...................................................................5TASK 2............................................................................................................................................7P3. Analysis of sources of funding and their advantages and disadvantages.........................7TASK 3............................................................................................................................................9P4. Creating a business plan for growth.................................................................................9TASK 4..........................................................................................................................................11P5. Analyse the exit and succession options for a small business and their advantages anddisadvantages........................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONIt is an essential element for every organisation. Planing for growth helps in determininga successful process and planning that are vital for making decisions for an effective use. Thisassist them in preparing a vision for future objective (Albert, 2017). By applying effectualstrategies to define its goals and achieve them on targets. Generally, a business enterprise focuseson their future planning which is a most eminent part for increasing their growth into existingmarket. This report is based on case scenario where, NGA Construction Company who invites forrestructuring community hall (Ludlow Assembly Rooms). The concerned company is bidding toattain a tender whose minimum price of £25k. This project analysis, the growth opportunities ofa business with the help of porter's generic and pestle. Also, bring highlights on sources offunding while arranging funds for investment purpose. It bring an outline on exit or successionoption for SME's firm. At last, developing a business plan to achieve their targets on time.TASK 1P1. Key considerations for the evaluation of business growthPlanning for growth is a fundamental part for any business organization. This bring highcost productivity and stability in a respective business firm as they plan a realistic vision for theirfuture to achieve their objectives. This portion helps in analysing organisation by assessing itsresources and possession (Beatley, 2014). This includes porter's generic model for competitiveadvantages and PESTLE analysis for measuring the external factors of chosen businessorganisation. These are described as below:Porter's Generic Strategy ModelThis strategy is used for competitive advantages that are applied to products and servicesin all industries and organization of all size. It is generally created for sustaining superiorperformance of a NGA company. This is based on generic strategies which are mentioned below:Cost Leadership: The Porter's Generic strategies are used for gaining competitiveadvantage. This type of strategy is generally focused on their cost by increasing profits throughreducing cost while charging average price. Also, NGA Construction Ltd can lower their cost toincrease the market share into a business market. This can include effective labour cost to cope1
up with requirements By using this approach, it will increase profit and enhance the sale of sharemarket. This helps a respective company to sustain for longer period.(Source 1: Porter's Model of Generic Strategies for Competitive Advantage, 2018)Differentiation Strategy: Under this approach, it include making different products andservices to attract customers or clients for more competitions (Colantoni and et. al., 2016). Bymaking differentiation in products and services it will result in an effective sales and marketingthat assist to attract more and more customers to buy them. It is done to achieve charging apremium cost from other competitors. By adapting unique techniques from existing firms NGAConstruction Ltd can compete with others. Focus Strategy: This kind of strategy is used to focus on niche markets that helps in tounderstand the dynamic environment and the needs, demand and wants of their clients forspecific market segment and able to focus on that particular segment to attract customers andable to define their product into existing market (DeMartino and et. al., 2015). NGA2Illustration 1: Porter's Model of Generic Strategies for Competitive Advantage
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
(doc)Planning for Growth - Assignmentlg...
|16
|4471
|417
Planning for Growthlg...
|15
|4157
|188
Planning for Growthlg...
|15
|5225
|57
Planning for Growthlg...
|15
|4686
|91
Planning for Growth Assignment : Williams Performance Tenderslg...
|17
|5207
|172
Planning for Growth Assignment - NM construction companylg...
|15
|5123
|445