Opportunities for Planning for Growth Assignment
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Added on 2020-11-23
Opportunities for Planning for Growth Assignment
Added on 2020-11-23
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Key considerations for evaluating growth opportunities and justify these considerationswithin an organisational context.................................................................................................1P2. Opportunities for growth applying Ansoff’s growth vector matrix......................................5TASK 2............................................................................................................................................7P3. The potential sources of funding available to businesses and its benefits and drawbacks...7TASK 3............................................................................................................................................9P4. Develop a business plan for growth......................................................................................9TASK 4..........................................................................................................................................11P5. Assess exit or succession option for a small business also their advantage anddisadvantage..............................................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONPlanning for growth is also considered as a activity of strategic business which beginswith finding current capability of firm as well as enables to ascertain trading operations whichare essential for progression in state to modify which incurs into marketing environment(Angotti, 2018). For this report the chosen company is Norsk European Wholesale Limitedwhich deals in facilitating import and export services, supply chain, shipping, technical andspecialist services and so on. Its headquarters is in Berskshire, England, UK. The purpose of thisreport is to analysis the key considerations for evaluating the growth opportunities andapplication of Ansoff's Growth matrix. Funding sources with its benefits and drawbacks as wellas formulation of a business plan. Apart from this exit and succession plan for the small businesswith their advantage and disadvantage are also mentioned in this report.TASK 1P1. Key considerations for evaluating growth opportunities and justify these considerationswithin an organisational context Norsk European Wholesale Limited is a SME's company within United Kingdom whichoffers express delivery, warehousing and storage, technical and specialist services. As atransportation and logistics industry has opportunities scope for growth as well as expansion intomarket. For the growth of the business, this is essential for Norsk European Wholesale Limitedto examine the internal as well as external factors. Herein, it will assists in grabbing attention ofthe more consumers towards firm that will enhance level of sales and profitability. Throughmaking strategic plans, Norsk European Wholesale Limited can accomplish their goals. Advancetechnology aids company to perform navigation and transportations can become easy etc. So,few growth opportunities for respective company to implement advance technology arementioned below:Competitive analysis:Herein, manager of Norsk European Wholesale Limited can build an effective plan forimplementing advance technology with business to do whole activities. All department ofparticular firm can obtain advantage of adapting advance technologies (Dierwechter, 2017). Inthis context, company can acquire opportunity for maximising its delivering, technical services.This will aids in grabbing the attention of consumers towards its firm. It also obtain opportunity1
to utilise current techniques of marketing. This will helpful for Norsk European WholesaleLimited to do its business activities in effective way in comparison to their competitors. This willassists in accomplishing competitive advantage into market. Porter generic strategy:It is considered as a essential for business that is advantageous for attaining success forlonger periods. Herein, company positioned themselves through utilising it strengths. This can betheir trained workers, marketing campaign etc. Michael Porters show the strength of thecompany that lies upon cost advantage as well as positioning (Faludi, 2013). This model isexecuted by Norsk European Wholesale Limited for acquiring opportunity of advancetechnology in their transportation system. It included four strategies that are mentioned below:2Illustration 1: Porter's Generic Model(Source: Porter's Generic Model. 2016)
Cost Leadership: Herein, cost benefits sources are lie upon the business framework. Itincluded advance technology, economies of scale and so on. With the help of this NorskEuropean Wholesale Limited can find out low cost technology producer as well as utilisewhole cost benefits sources. In case for can sustain and attain whole cost leadership thenrespective firm can be an average performer into industry.Differentiation: Herein, firm looks to facilitates various services in its industry. Also,certain aspects are broadly valued through clients. Within Norsk European WholesaleLimited, manager obtain opportunity of implementing advance technology in new way.This facilitates innovative services to its consumers as per its requirements inmarketplace.Cost focus: This focus on choosing narrow scope of competition into business. Theyselect segment in its industry as well as adapt this strategy to facilitate its clients. NorskEuropean Wholesale Limited focus upon their cost advantage factors while acquiringadvance technology opportunities in its business operations.Differentiation focus: It is usually focus on narrow competitive scope choices into firm(Friend, Power and Yewlett, 2013). Norsk European Wholesale Limited can concentrateon facilitating various services to its consumers by applying the advance technology intheir working or operations. They can target segment to its client’s requirements thatassists them to attract more number of consumer towards its firm.Thus, Norsk European Wholesale Limited can adopt or execute differentiation focus as itwill facilitate fastest services top its users according to the modifying trends as well as itsrequirements. It aids in obtaining competitive advantage over competitor’s firms as clients preferto avail fast services. If users are satisfied from the firm, then its manager can rise the servicesprices. Because of advancement, customers will eager to avail services due to which companyrevenue as well as profit will enhance. Also, it will assist in targeting segments towardscustomers’ requirements. Therefore, organization can perform its technical, delivery systemconsequently. Resources: This is considered as a sources or supply from that a benefits can beproduced. So, Norsk European Wholesale Limited have some resources such as financial,human and so on. 3
Capabilities: This is considered as a something an individuals or a thing is capable toperform. Therefore, Norsk European Wholesale Limited capabilities is technology utilisation. Itcan use various types of technology in order to provided standard as well as fastest services totheir customers so that they can satisfy their clients. Core competencies: This is the strategic advantage which provides business an effectivecompetitive advantage. The core competency of respective firm is excellent leadership andorganisation so that they can lead as well as guide their staff, workers, subordinates appropriatelyin order to accomplish their objectives. External analysis:Herein, the firm examine the factors that are political, economic, social and technology.There are important factors for increasing the process of decision making. This is facts thatworld's demand are changing regularly (Gallent and Ciaffi, 2014). Therefore, Norsk EuropeanWholesale Limited is also modifying its manner of completing their operation in new ways. Forit, organisational manager has to examine PEST to get knowledge regarding the chances takeplace in marketplace. All factors are explained below:4
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