Assignment - Planning for Growth Opportunities
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Added on 2020-11-12
Assignment - Planning for Growth Opportunities
Added on 2020-11-12
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Analysis of key consideration for evaluating growth opportunities for company......................1Sources of funds and their impact on business...........................................................................6Business plan.............................................................................................................................10Exiting options..........................................................................................................................13CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17
INTRODUCTIONToday, in the competitive market, each company need to prepare a plan for its futuregrowth. A plan for growth contains each area where a business can gain the opportunities forgrowth. It also contains the strategies and tactics with the help of which a business can achieveits organisational goals easily. Williams Performance Tenders is a small medium enterprise(SME) which was founded in 1995. The company has 36 employees and works for tendering jetsand produces boats and supply them in all over the world. The study includes an evaluation of agrowth plan by using various analytical frameworks and gaining growth in the competitivemarket. It also describes various sources from where company can grab funds along with therecommendation as to recommend the best source of fund to be used by business. Further, thestudy also shows a business plan for the purpose of providing considerable growth to theorganisation and a critical evaluation of the various options that can be adopted by company forits success and a justification for the purpose of helping company in deciding the appropriateaction for its future growth is discussed in the report. 1
MAIN BODY2
ReportTo,Head of Strategic Planning Departmentfrom, Junior Managersubject: Report showing planning for growth Analysis of key consideration for evaluating growth opportunities for companyCompetitive advantagesThe term competitive advantage can be defined as the ability of the company to earnmore profit from the market as compare to its competitors. Williams Performance Tenders havecapability of having a strong research team within the business. further, it also have a strongmarketing team which help it in effectively compete with its competitors. It need to gain thecompetitive advantage for the purpose of attaining sustainable growth in the future (Kumar andPansari, 2016). In this regard, it has to develop various strategy which could help it in growingsmoothly in the market. Development of strong strategy for the business can be analyzed withthe help of Porter's generic strategy model as under:Porter's generic strategy modelFor the purpose of planning for the growth of business, porter's generic strategy modelcan be applied by the company as it provides numerous strategies through which company cangrab numerous competitive advantages. These competitive advantages can helps the WilliamsPerformance Tenders in achieving its overall organisational goals in more effective way.This model provides following 4 strategies which could help the business in gaining thecompetitive advantages:Cost leadership: Strategy of cost leadership says that company should developstrategies for becoming the lowest cost producer (Wang, 2015). Producing low costdirectly influences the profitability of the company. William Performance Tender shoulddevelop strategy to control the wastage of cost of each stage of manufacturing processand having the best control over it. It need to avoid the wastage of raw materials andother resources used in the manufacturing process. It can develop the following strategy:▪Development of high level of productivity within organisation.▪Utilization of the highest capacity of all resources.▪Use the latest technology in the production process.A better cost control strategy development in the company would lead in developing cost3
leadership within the organisation.Differentiation leadership: This strategy makes the company in developing plans forthe business as to develop some uniqueness in the business. William PerformanceTender should innovate some products to develop some uniqueness in them or shoulddevelop some unique boats and jet as per the customer's preference. It would result inattracting the buyers towards its boats and jets having unique quality which would leadin generation of leadership quality of business within the competitive market. In this regard, adoption of this strategy will enhance the strength of business in thecompetitive market. It will help the company in having a considerable growth in market.Differentiation focus: Adoption of this strategy can help the William PerformanceTender in adding more values in the products of the company for its buyers. As per thisstrategy, organisation should segment its customers and develop new boats and jets thatare completely different from its competitor's product. It would definitely result intargeting large number of group of buyers. Before adoption of this strategy, it need to ensure the relevance, wants and demands ofthe customers and also analyse that no other competitor is meeting those needs (Panwar, 2016).This strategy can also generate the capability of company to charge extra price for the productsand reducing its customer's bargain power as well.Cost focus: In this strategy company sells lower cost products to a segment ofcustomers after achieving cost leadership. Further, similar products are also supplied tothe other segment of customers at higher price who are able to higher price for theproduct. This strategy helps in meeting the competition of market along with increasingprofitability.4
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