Planning for Growth: A Strategic Plan for Marshfield Bakery

This article discusses a strategic plan for Marshfield Bakery's growth, including opportunities for growth, potential sources of funding, and a business plan for financial information. The bakery will focus on product development to expand its sale and innovate new technologies to enhance its productivity. Bank loans will be the appropriate source of funding for the bakery.

Planning for growth

Table of Content.
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
P1 Key considerations for evaluating growth opportunities in the organization ........................1
P2 Evaluate opportunities for its growth by application of Ansoff’s growth vector matrix........2
M1 Discuss option for the growth using framework to bring understanding of the competitive
advantages in organization...........................................................................................................3
D1 Evaluation of pathways for the growth in account of risk and how they mitigate...............4
P3 describe various form of funding rootage addressable in the business and analyse its
associated profit or drawbacks. ..................................................................................................4
M2 Evaluate potential sources of funding and justification for the adoption of the appropriate
source of fund..............................................................................................................................5
D2 Critically supply the various source of funding available while giving the appropriate
justification for the adopted form. .............................................................................................5
P4 Plan the growth plan for the Marshfield bakery for growth which includes various
strategical or the financial panning for the organisation. ..........................................................6
M3 Acquire the accurate business plan for the organisation by applying the various strategies
or framework to carry out the growth..........................................................................................7
D3 Provide in-depth business plan to breakthrough business objective in the approachable
manner. .......................................................................................................................................7
P5 Explicate succession or exit plan for the small business enterprise while provided their
associated drawbacks or benefits. ...............................................................................................8
M4 Evaluate the succession or exit plan for the small business firm to make the valid
recommendation for the growth and development......................................................................9
D4 Formulate the critical assessment for the exit or succession action for small business
organization and provide accurate action that are taken while provide the recommended
execution for it. ...........................................................................................................................9
CONCLUSION ..................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Growth planning is the strategic plan which gives a effective pathway to the business to
move towards the direct direction and increases the growth potential of the business. It can
identify the various opportunities which can provides more benefit to the organization and helps
in expanding the business for future. Panning strategy helps in setting the goals and achieving the
targeted goals. Effective growth strategic plan helps in identifying new opportunities for growing
business at internation level and providing the best service to increasing more customers. Strong
growth plan helps in setting the goals which can leads to increase the productivity of the
business. Marshfield bakery which is the bakery industry situated in United Kingdom develops a
strategic plan which can helps in enhancing their business productivity. This bakery delivery the
best quality food to the customers according to their needs. This projects covers opportunities for
growth by applying the Ansoff's growth vector method, potential sources of funding and
business plan for financial information. Lastly it also covers the exit and succession plan for
small business (Achinas and et. al., 2019).
MAIN BODY
P1 Key considerations for evaluating growth opportunities in the organization
There are various consideration which can helps in analysing the opportunities for growth
and various pathways for development of strategic plan and provides a bigger opportunities to
participate in competitive. Marshfield bakery uses the PESTLE analysis and porter's five force
of models which includes:-
PESTLE analysis:-It can analysis the external factors of the business environment that influences
the organization. This is most popular tools for the business organization which provides the best
strategic plan to the organization. There are various factors which includes in PESTLE
analysis :-
Political factor:- This factor describes the government rules and guidelines to run the
business because the guidelines includes the implement the special ethical code for the food
supplier industry. Marshfield bakery follow the guidelines for government and delivery the best
quality food product among the customers (Zanjani and et. al., 2020).
Economic factors:- This factor describes the financial state of the organization and also
represent the economy factors which can negativity affect the business environment. Marshfield
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bakery affected the organization due to the coronavirus pandemic workforce decrease which
affect the economy state of the organisation. During COVID-19 due to lock down all business
get permanently closed which can affect the business environment. After the out of coronavirus
bakery get recover and hire the employees by providing them various opportunities and also
deliver the product thorough online platform (Andrews and et, al., 2022).
Social factors:- This factor depends on the consideration of different culture and
behaviour of the customers because it is more difficult for the organization to analysis the taste
and needs of the customer. In COVID-19 situation customers demand for the healthier food
because and organization should have to provide the healthier food. Marshfield bakery deliver
the best quality food to the customers to enhance their productivity.
Technological factor:- This factors describes about the innovating technology which is
adopted by the organization.Marshfield bakery adopted various technology for incresing their
productivity which gives more profit to the organization. Innovating technology is the best
strategic method which deliver the effective development plan and deliver the best quality
services to the customers. It can also analysis the technology that may affect the operation
process of the organization (Ansoff, 2018).
Legal factor:- It is the external factor of organization which can describes the law which
affect the production of an organization. Marshfield bakery implement the laws and policies for
the consumers as well as employees. This actor analysis that there is any disruption in policies
which affect the consumer satisfaction which includes alteration in price of product which can
negatively affect the business organization.
Environment factor:- This factor identify the physical factor of the environment which
include the climatic condition, packaging and delivering the product. Marshfield bakery analysis
and focus on developing the eco-friendly environment by using the quality product for satisfying
the customers. The employees of Marshfield bakery focuses on these factor which can impose
the organization image among the customers and also paying attention to deliver the food
product according to the need of customers.
P2 Evaluate opportunities for its growth by application of Ansoff’s growth vector matrix
Ansoff matrix is the tool for the strategic planning and development which helps in
analysis the business environment. It can also helps in identifying the growth potential of the
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business. This strategic tool has four methods which is adopted by the Marshfield bakery which
can help in improving the sale and increasing the customers. The four methods are as follows:-
Marketing penetration:- This strategic methods has main aim to expanding the growth
potential of the business environment. Marshfield bakery adopted this strategy to expand their
sale by improving the food quality and also innovating the food with different taste which can
increases the sale and productivity of the business environment.
Product development :- This strategy focuses on innovating the advance technology in the
organization and maintain a good image among the customers. This the risky strategy because
new product requires all initial a process to achieve the targeted goals. Marshfield bakery uses
this strategy by innovating the new product and services which can enhance the productivity of
an organization (Ashraf and Fernandez, 2022).
Market development:- In this strategy organization focus on existing product in new market
product by increasing the more customers. It has main aim to expanding the brand image at new
market place and developing the trust among the customers.Marshfield bakery develops a
strategic plan for expanding the brand value in new location which can contributes to achieving
the targeted goals and enhance the productivity of the business environment.
Diversification:- This the risky strategy because it has main focus on expanding the sale at new
marketing by offering the various services to the consumers. It requires high investment for
expanding the business which can helps in increasing the customers which can provides more
profit to the organization. Marshfield bakery innovate the new product and analyse the product
demand and deliver the product according to consumer needs and wants.
M1 Discuss option for the growth using framework to bring understanding of the competitive
advantages in organization
The most effective strategic tool is product development because it is considered as less
risky because it focuses on expanding the sale and innovating various new technologies which
can affect the business environment. Marshfield bakery adopted this style and maintain the sale
expanding at new market which can help in enhancing the growth potential of the business
environment. Employees of Marshfield bakery provides various opportunities which can share
the brand value among the people. SME business can improves the quality of product and
services (Coccoli and et, al., 2018).
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D1 Evaluation of pathways for the growth in account of risk and how they mitigate.
These strategies plan provides both positive and negative impact on the organization.
Market development helps in growing the business and satisfying customers by delivering best
quality services among the customers. Market development is more beneficial for the bushiness
because it has less investment and more chance to grow and expand the sell by delivering the
best quality product. This provides the best strategic plan by which organization get less .
P3 describe various form of funding rootage addressable in the business and analyse its
associated profit or drawbacks.
Different sources available for the UK SME's are :
Bank Loans – It is the lend amount offer by the bank to the individual in return of
providing bank any suitable assets as a security to them. These loans are provided to the small
business owners in the limited magnitude of the interest.
Advantage
 It allow the individual to grow their business in the wider expect.
 Favourable interest rate are provided without offering boundless interference from them.
 Additional services are provided to their potential customers.
Disadvantage
 Application process is more
 Full loan amount is not provided by bank to individual.
Venture capital – It is the form of funding provided by the investors to start-up companies to
progress their long term growth in the market. Here, investors aim is to surplus the revenue by
investing in initiate enterprise unit.
Advantage
 Large amount of capital can be raise.
 Varied networking opportunity is available (Covei, 2019).
Disadvantage
 Ownership interest of the founder is ablated due to less cognition power.
 Huge altered adaptation in growth embark on the pressure in the workforce of the
organization.
Saving and Soul supports from relatives – It is the most reliable form of renting out the
revenue while having trust that whole amount is provided.
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Advantage
 Borrowed money can be taken for the long instance as to improve the financial condition.
 Mo EMI or penality need to be given if the payments is delayed.
Disadvantage
 It leads to development of the social awkwardness.
 It might be the reason of conflicts or damage relationship within them.
 Proper paper work is not provided as it is informal form of taking loan.
It has been seem after analysing the above mentioned forms fo funding that, Marshfield
Bakers must carry through with the bank loans. As the owners will have the overall right in the
business and their is no chance of conflicts in making a decision. This bank loan will also benefit
the overall in depth pal of action to expand the business entities (Ezzati, 2019).
M2 Evaluate potential sources of funding and justification for the adoption of the appropriate
source of fund.
Potential source of funding that might e used by the small business owners are various
according to the demand of the enterprises. Some of them includes the retained earning, depth
capital and the equity capital. Retained earning is the magnitude of the profit earn by the
enterprise which can be used further to expand out the business. Depth capital is the revenue
generated after taking loans from any form of the source including the friends, banks or the
investors. Equity capital is the magnitude of the wage paid the individual by buying the
organisation stocks. Marshfield organisation must incorporate the bank loans to expand their
business or as the funding source as it is the most reliable source to take the loans.
D2 Critically supply the various source of funding available while giving the appropriate
justification for the adopted form.
From the above mooted report it has been seen that Marshfield bakers might
accomplished different forms of funding depending upon the need or demand for which
investment is required. It includes different forms of savings, revenue collection while taking
loans or selling out the stocks and borrowing it without interest from the friends or the relatives.
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P4 Plan the growth plan for the Marshfield bakery for growth which includes various strategical
or the financial panning for the organisation.
Business plan is the data which includes various growth outline required by the company
to surplus the revenue generated by the organisation. Business plan of the Marshfield bakers are
given below:
Exectuive sumary : It is the private bakery founded by the White Paul which is situate i
UK. It provides the provides the bakers items including the cakes, do-nuts, pastries. It also
includes the crop production services and many more (Gudadappanavar and Mahapatra, 2022).
Background : It is the family owned business established in 1984 which is expanded its
business due to accelerated popularity of the product or the services they provides.
Mission : It is to provide the family oriented surrounding to the customers while
providing them nutritious bakery products.
Vission : The innovation or the advancements are not only done to attract the customers
but to provide its potential customers the improved quality product with more modified taste.
Objective : It is take the bakery to achieve the highest growth while serving the best
quality product and services (Morison, 2020).
Services : It provides handmade cakes according to the demand of the customers through
the UK. It also provides various snacking items including candies, bar, bun rolls and many more.
Complication : Associated complexities for the bakery is they need to follow the
Provided polices by the UK authority to ensure that proper hygiene measures are taken to
regulate the healthy practices. The labels provided in the product must be authentic and must
include the right information. They are need to dispose out the waste or expired products directly
as it can harm the health condition of the employers working and the customers of the bakery.
Strategic purpose of growth : Growth strategies are essential for the company to
regulate the growth of the business. The aim behind these business plan is to alter the profit
margin of the bakery as to attract more and more customers. Different strategies through which
the bakery can pull in more growth of the business enterprise are by maintaining the hygienic
condition in the bakery as to regulate the quality of products to the customers. It includes the
hiring of the skilled employs to provide the better taste products. Before expanding the enterprise
into the new place the proper analysis of population beliefs are need to be done as to satisfy the
new customers taste (Guo and et. al., 2020).
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Marketing Mix : It is the set of actions or the advancement that are taken by the
enterprises to promote or upbraid their products in the market. Marketing mix consist of various
components which has the affirmative impact on the organisation growth. This framework is
made after having a lot of research or analysis to complete the needs and demands of the
potential market. It consist of 4P's which includes:
 Product – It is the product which attracts the customer towards the bakery when their
demands or needs are fully satisfied. Mansfield bakery provide different bakery items
which can be customised according to the needs. It includes different breads or baked
goods including mud-pie and many more.
 Price – Price is the form which converts the customer into the potential customers when
pricing strategy form in bakery is accurate and affordable for the targeted market.
Various loaf cafes form or the biscuits provided to the customer are in reliable form.
 Promotion - It is the plan of action used by the enterprise to accelerate their selling and
pull more customers. It the action which helps the bakery to grow more and more.
Marshfield bakery promote their product though social marketing publicity.
 Place - It is the location where bakery is present. Marshfield bakery is providing its
customers the quality product since 25 years. It provides handmade parcel including
bakery items and various bars (Hill, 2019).
M3 Acquire the accurate business plan for the organisation by applying the various strategies or
framework to carry out the growth.
To expand their organisation operation in the favourable manner in different part, the
planning of the foundation is done by keeping objective and mission in mind. Basic alteration are
done in the actions or the services provided according to the demand of potential customers in
neighbourhood. It must include various growth or profit potential of the organisation that are
need to be done to achieve the market share . As it is the tool through which associated
challenges and theft of enterprise is evaluated (Mazzarol and Reboud, 2020).
D3 Provide in-depth business plan to breakthrough business objective in the approachable
manner.
To take on the suitable growth of the business, it is salutary for the business to form the
suitable and effective plan of action. This planing instance will aid the business owner t
acknowledge strategy for the organisation growth. Additionally, while designing the growth
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strategies various associated complication or the risk are also analysed to safeguards them from
upcoming perturbation. While making the business plan, the Marshfield bakers have
incorporated various component in the account to regulate the growth of enterprise.
P5 Explicate succession or exit plan for the small business enterprise while provided their
associated drawbacks or benefits.
Chiefly the succession or exit plans are designed or plan by the organisation when either
the owner lacks financial magnitude for more utilization, companies has attained with the huge
loss or the owners is getting retired. While carrying out certain concerned are to be taken which
includes the proper business plan of organization while analysing the expected forthcoming for
the business expansion.
Various strategies that the small enterprise owner or the administrative staff should
incorporate while providing the succession or the exit plan.
Succession plan : It is the strategical planning used by the owner to carry through their
position to other leading or capable employer. It is done by identifying the accurate fit for the
position while analysing different employs potential. It includes :
Franchising - It is the expansion plan used by the organisation to generate the more
revenue from the assets or regard the bakery as earn in market. Its major advantage is its
supports the organisation in expansion without utilizing their own assets or the magnitude. The
profit earn will be provided to the owners. Its perverse impact is it includes high investment to
acquire the franchise the bakery by the investors and obligation of policy (Li, Xu and Li,2020).
Carrying out position – These scheme is used to bring down the position to the
employer. They are done to identify the suitable one by taking the feedbacks of the employ,
analyse their technical assessment for role and their cognitive or behavioural strength. It benefit
is this action promotes the productivity of the organisation as they are potential employ who
knows how to endeavour in effective manner (Hughes, 2018).
Exit plan : These are the strategies used by the founder to carry out the business
ownership or the assets to other hand when they are not capable to run it in effective manner. It
involves :
Closure of organisation – It is the way through which individual sell out their business
plan to other party to generate the revenue instantly. Through it the individual can pay of the loss
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or ending payment to the stakeholders. Only benefit is the debts of organisation are able to be
vanished. Their is loss of business and the workforce.
Sell out the business to known – Here the enterprise is trade out to either the known
member or the relative. Here the assistance of the firm can be provided by the previous owner
time to time for proper functioning of the organisation. The risk and complication are analysed
before hand to make its reflection supportive measure. Owner is still connected with the mission
they were willing to accomplish. If any legal trouble forth-comes, then there is chance of conflict
in the relationships.
Sell down to open marketplace – Here, the enterprise is sold out to potential investors.
The seller will be benefited as they will generate the assets. It is time instance action to find the
accurate investor who can interpret the strategies, polices and objective in effective manner .
However the buyer don't have to invest to make new policies or framework to run the business,
just the alteration are required (Kumar, Shankar and Aljohani, 2020).
Sell to third business party – Significantly the business is handover to other business
owner where they modify strategies according to innovation or new technology to advance the
growth of the organisation.
M4 Evaluate the succession or exit plan for the small business firm to make the valid
recommendation for the growth and development.
Mansfield bakery must implement the succession action for their business planning to
generate the market share while satisfying the potential customers. This action is used by them to
expand the business growth in different regions where expansion plans are formed. They can
accommodate the franchise action to expand their business in the accurate manner while
accelerating their turnover.
D4 Formulate the critical assessment for the exit or succession action for small business
organization and provide accurate action that are taken while provide the recommended
execution for it.
To cover out the losses that might the bakery has faced, the franchise action can be taken
by them to overcome it. These planing will increase the sales of the products in global platform
(Lahtinen, Dietrich and Rundle-Thiele, 2020).
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CONCLUSION
From the above report, the role of planning is outburst for the organisation planning.
These planning action improve the employs engagement as better strategical plans are put on
which improves the firms performance and the productivity. These plans are made to reduce out
the associate risk or the competition that bakery might face. This report symbolization of
Marshfield bakery which his situated in the UK. Different strategies plans including the ans-off
matrix, BCG matrix, Marketing mix or pestle analysis is used to measure the growth matrix of
the organisation. It further includes the identification of various support source available and
each importance is mooted here. Additionally, the business plan of growth is provided here with
the succession or exit plan.
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