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Evaluating Planning for Growth Opportunities - Assignment

Added on - 23 Nov 2020

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PLANNING FOR GROWTH
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1 Key consideration for evaluating growth opportunities.........................................................1P2 Ansoff's growth matrix for evaluating growth opportunities.................................................2LO 2.................................................................................................................................................3P3 Potential sources of funding...................................................................................................3LO 3.................................................................................................................................................6P4 Design business plan..............................................................................................................6LO 4.................................................................................................................................................9P5 Succession option available for small business......................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONMarket expansion is the main objective of small business. This enlargement gives themopportunities to enhance their revenues and sustain in the market for longer duration. Each firmtries to build tactical plan so that they can enter into new market (Gielnik, Zacher and Schmitt,2017). Present study is based on Southern Business Technologies Ltd. It is a small sized firm thatoperates in communication industry; Company provides telecommunication services to itsconsumers. It has employed 72 employees who work for accomplishing objectives of entity.Current assignment will discuss key consideration for evaluating growth opportunitieswith reference to Southern Business Technologies Ltd. Furthermore, it will apply Ansoff'sGrowth Matrix Model by acknowledging chosen firm. Report will assess potential sources offunding available to business. In addition, it will design business plan that will include financialinformation for scaling up a business.LO 1P1 Key consideration for evaluating growth opportunitiesThere are many small businesses which have huge potential to grow well. These smallfirms always try to retain in market for longer duration. Thus, they utilize their resources well tosatisfy consumers. There are various factors that need to be considered while evaluating growthopportunities of a company (Ward, 2016). These elements help a business in identifying growthoptions for enterprise. The main aim of Southern Business Technologies Ltd is to enter into newmarket and enhance profitability of entity. Key considerations for evaluating growthopportunities of Southern Business Technologies Ltd are described as below:Resource UtilizationSouthern Business Technologies Ltd is a small sized firm that has limited financial,technical and human resources. However, company is utilizing its resources well. This helps thefirm in managing its operations well. Employees are key assets of business; entity provides themrewards in order to motivate them. That is why skilled workers are working in an organizationsince longer duration. Staff turnover rate in Southern Business Technologies Ltd is less.Furthermore, it monitors it’s all transactions time to time that aid in identifying unnecessaryexpenditure (Love and Roper, 2015). By this way, an enterprise makes decision of reducing cost.This factor can help Southern Business Technologies Ltd in growing well and expanding itsbusiness into new country significantly.1
Capabilities and Core CompetencesSouthern Business Technologies Ltd has a strong reputation in market This brand imagecan help it in attracting new buyers and gaining their attention. Entity has capability to conducteffective market research and identifying needs of consumers. This supported an organization inproviding satisfactory telecommunication services to consumers (Hanson and Lasley, 2016).These capabilities will help entity in entering into new market and providing satisfactoryproducts to consumers.Portfolio StrategiesPortfolio strategies of Southern Business Technologies Ltd are quite effective. Dogs areproducts which have low market share with low growth. Question marks are such services ofbusiness that grows rapidly but generate less cash to business. Stars are such products whichhave strong market share and generate huge cash in a firm. Cash cows are another type ofproducts that has low growth and high market share (Mathias, Williams and Smith, 2015).Southern Business Technologies Ltd gives more time to star products because this helps entity ingaining more returns and generates high profit in business.Figure1BCG matrix(Source: BCG Growth-share matrix,2018)2
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