Planning for Growth: Factors, Opportunities, and Strategies for Marshfield Bakery

Planning for Growth

Table of Content
INTRODUCTION...........................................................................................................................1
P1. Examine main factors for measuring growth opportunities in context to company..............1
P2 Evaluate opportunities for growth using Ansoff matrix.........................................................6
P3 Sources of finance that are available for business including pros and cons of each. ............8
M2 Evaluation and justification adopting appropriate funding for business...............................9
PART 2............................................................................................................................................9
P4 A Business plan for the growth of firm that involves strategic objectives and the financial
information...................................................................................................................................9
M3 Develop detailed plan for securing investment and growth, setting strategic objectives and
strategies by using frameworks.................................................................................................11
P5 Provide the succession or exit options to the small business together with its advantages
and disadvantages......................................................................................................................11
M4 Evaluation of succession or exit plan for business and contrast the options and make
recommendations.......................................................................................................................13
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Planning for growth refers to the strategic activity of the business that allows the business
owners to plan and track growth so that revenue can be earned. It is done by the business
enterprise with the purpose to determine and measure internal and external opportunities for
growth (Stephen, 2018). Through this, various sources of finding which helps business to invest
so that it is beneficial for the organisation in future. The particular report is based on small to
medium-sized enterprise that is named as Marshfield bakery. Small or medium sized business
enterprise have turnover less than £25 million with less than 250 employees. Marshfield bakery
is one of the small medium enterprise based in UK, that are engaged in producing home-made
dish, meal, cookie and seasonal products. The respective bakery have 45 employees and have the
annual turnover of £2 million. With respect to grow in the market, they need proper strategies
and plans. This report includes opportunities for growth to the company as well the various
sources from where the finance can be raised. In addition to it, a business plan and ways through
which they can exit from the market are discussed below.
MAIN BODY
P1. Examine main factors for measuring growth opportunities in context to company.
To measure the growth opportunities, competitive advantage, option for growth and path
development , there are various factor which should be taken in to the consideration. There are various
models and theory to explain those factors which are discussed below:
PESTEL Analysis
This framework helps the organisation to make the strategy by evaluating and identifying the
factors from the macro environment. This helps the organisation to know more about external fac6tors and
gain competitive advantage. The PESTEL analysis of Marshfield bakery are as follow:
 Political – This factor includes government policies, foreign trade policies, tax policy etc. These
factor are basically managed by the government. If the tax rate increases then simultaneously the
price of the bakery products will get increased which can result in loosing the customer base.
 Economical – Inflation rate, interest rate, growth of job and unemployment are included in this
factor. These factor is related to economic condition of the country. There was high inflation rate
after the COVID-19 pandemic which resulted in declining of purchasing power of consumer. This
affected the sale of the Marshfield bakery continuously.
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 Social – These factor include customers attitude, opinions as well as buying patterns.
The customers nowadays wants innovative and dynamic products (Slavova, 2020). In
context to Marshfield bakery, the customers are demanding more healthy products and
they want bakery products which are healthy and good for them. For example sugar can
be substituted with jaggery, cookies and cakes that are made up wheat rather than the
flour can be made by the company.
 Technological – This factor includes the new ways of producing, distributing goods and
services etc. By the use of technology, respective company has planned a hi tech structure
that gives more focus on the customers. Organisation can also enhance customers base by
providing free Wi-Fi facility.
 Environmental – Pollution targets, carbon foot prints etc are involved in these factor.
These aspects of framework are related with the environment. Marshfield bakery uses
three R's which are reduce, recycle, reuse. Through this, they do not make those products
which affect the environment.
 Legal – These factor includes health and safety, equal opportunities, consumer laws and
rights etc. These factor deals in rules and regulation that are imposed by the legislative
bodies (van, Ramos and Sousa, 2021). So, Marshfield bakery follows all the rules and
policies that are imposed by the legislative bodies in order to conduct the business in an
appropriate manner.
PESTEL framework : Strength and Opportunities for Marshfield Bakery -
STRENGTH
 Through PESTEL analysis framework Marshfield bakery help to understand the external
factor through which risk and opportunities can be identified.
 This framework also helps respective organisation to develop and implement the
strategies so that they can achieve the targeted goals.
OPPORTUNITIES
 By adopting latest and updated version of marketing means and method such as social
media, Marshfield bakery can increase their customer base.
 As customers are shifting towards healthy products. If the respective company produce
healthy as well as eco-friendly products then it will create opportunities for them to gain
more profits.
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