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Assignment Planning for Growth

   

Added on  2020-10-05

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Planning for Growth

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Analyse key considerations for evaluating growth opportunities and justify.......................1P2. Evaluate the opportunities for growth by Ansoff’s growth vector matrix............................4TASK 2............................................................................................................................................6P3. Potential sources of funding available to businesses and discuss benefits and drawbacks..6TASK 3............................................................................................................................................8P4. Business plan for growth that includes financial information and strategic objectives........8TASK 4............................................................................................................................................9P5. Assess exit or succession options for a small business with benefits and drawbacks..........9CONCLUSION..............................................................................................................................11REFERENCES .............................................................................................................................12

INTRODUCTIONA business needs to plan for the growth that can generate higher revenue and profit. Anorganisation needs an effective strategic planning to reach out towards objectives and goals. Inorder to achieve success a firm needs to concentrate on the opportunities where it can expand thebusiness. An effective planning is important for growth of a company because they want tosustain in the market for a long time. 'Crux Software Solutions' is a medium size company andseeking for the growth opportunities with an effective planning to expand its business. Thecompany is coming under a bid contract with the The University of Nottingham for BuildingInformation System project. Thus, the report is based on the key consideration which arerequired to growth like Ansoff's growth matrix, funding sources, business plan, exit orsuccession options for a business (Allmendinger and Haughton, 2012). TASK 1P1. Analyse key considerations for evaluating growth opportunities and justify.Every business need to find out the opportunities to sustain in the market and gain thecompetitive advantages. An organizational growth depends upon the possibilities in the existingand new emerging marketplace where it can explore the business. 'Crux Software Solutions' isoffering a software package solution to the other organizations so that they can manage theirwork in an efficient way. It can consider various growth opportunities in the market by focusingon following aspects - Resources: This is the major asset for an organization because it supports to run entireactivities in a smooth way. These resources are essential to carry out the functions of a certaintask. Among all of the assets capital investment is crucial for 'Crux Software Solutions' toconduct all the function in a flow (Berger and Berger, 2011). Human resource also plays a vitalrole for the company because they put their efforts to accomplish the task in an effective andefficient manner. For an example, 'Crux Software Solutions' requires funds to develop its newproject and it also needs human resources such as the technicians, programmers, operationmanager who can assist in developing the project. They are required to handle the machines,codes and reducing errors and solve the problems which can occur at any time of the project.'Crux Software Solutions' should also analyse the machinery and software which are the core1

part of their assignment. Finance is required to spend on the expenses such as pay for staff andmaintain the other operations. Core competences – It can be define as the differentiation of the products and servicesthat are provided by the ‘Crux Software Solutions'. This will enhance the firm's visibility in thetarget market and assist to gain the competitive advantage.Besides these elements there is a model which assists in recognising the opportunities inthe marketplace. One of these model is known as porter generic strategies and the other is usedanalyse the external business environmental (Blackburn, Hart and Wainwright, 2013). It consistsof such factors which are not the part of 'Crux Software Solutions' but made an immense impacton the business. Porter Generic StrategiesThis model is used to describe a strategic method for a company that states a strategy thatshould be pursued by 'Crux Software Solutions' to gain the competitive advantage in the targetmarketplace. It has three generic strategies namely, cost leadership, differentiation and focus andall of these are further divided in two segments that is broad and narrow (Denton, Forsyth andMacLennan, 2017). These sections define the suitable environment for the strategies. Thesestrategies are described as below - Illustration 1: Porter's Model of Generic Strategies2

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