Opportunities For Planning For Growth
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Added on 2020-10-23
Opportunities For Planning For Growth
Added on 2020-10-23
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Planning For Growth
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1P1 Key considerations for the evaluation of growth opportunities and justification.............1P2 Opportunities for growth applying Ansoff's growth vector matrix. .................................5M1...........................................................................................................................................6D1...........................................................................................................................................6TASK 2............................................................................................................................................7P3 Potential sources of funding available to businesses along with their benefits anddrawbacks...............................................................................................................................7M2.........................................................................................................................................10D2.........................................................................................................................................10TASK 3..........................................................................................................................................10P4 Business plan for growth that involves financial information and strategic objectives forscaling up a business............................................................................................................10M3.........................................................................................................................................14D3.........................................................................................................................................14TASK 4..........................................................................................................................................14P5 Exist or Succession options for a small business along with benefits and drawbacks...14M4.........................................................................................................................................16CONCLUSION..............................................................................................................................16
INTRODUCTIONBusiness and growth planning is analysed as activity which relates to analysis of variousopportunities through which an organisation can expand its operations. It is also considered asstrategic business activity that enables owners to create plan and track the organisation’s growthin their revenues (Eddleston and et.al., 2013). Growth planning is also accomplished to provideopportunities to allocate resources towards a centred effort for application of changes withinindustry. Every successful business continuously reviews its business plan in order to ensuremeeting of its requirements. Various strategies and tactics adopted by employers in their growthplan emphasize on the key business drivers for revenue generation. This report is based on the evaluation of RL Maynard (National crest) which providesproperty construction services to their customers. Various important considerations for analysisof growth opportunities have been discussed . Further, Ansoff's Growth Matrix is also used forapplication of growth opportunities. In addition to this, different sources of finance and fundingare determined along with justification for selection of the best alternatives. A business plan hasbeen made for determining opportunities of business expansion for RL Maynard. At last, exit andsuccession options for business are also evaluated along with their benefits and drawbacks. P1 Key considerations for the evaluation of growth opportunities and justificationFor development of effective and successful plans to attain growth, organisation needs toanalyse and identify essential business opportunities which are available to attain growth. Thereare various essential considerations utilized by small medium enterprise to achieve competenciesto initiate healthy growth in the best possible manner (Valler, Phelps and Wood, 2012). In this context, RL Maynard also applied innovation in their design and also newtechniques for providing the best construction services to their customers. Company is engagedin the development of commercial buildings and houses for their clients. Analysis of growthopportunities will be helpful for enterprise to generate high profits and increasing its marketshare. Some key considerations are mentioned below:Competitive AdvantageCompetitive advantage is considered as superiority of organisation when it deliversproducts with same values as its competitors but either at low price or take high prices forproviding extra values through differentiation. It usually results for matching core competencies
and opportunities. For development of growth plans, it is essential for employers of RLMaynard (National crest) to create a competitive advantage in market by providing similarservices to clients at low prices (Keough, 2015). Employers also needs to analyse corecompetencies of their business such as Innovative designs, Quality construction, capability toprovide qualified customer services, strong brand equity, new technology equipments andpotential human resources. These core competencies enable RL Maynard to attain growth inbusiness and increase their brand equity in market. 2
Environment Analysis While formulating growth plans, it is essential for an organisation to analyse externalenvironment factors which influence the decisions and growth of any business. In this context,PESTLE Analysis Model is used for analysis of growth opportunities for RL Maynard in anexternal environment. Political: The political factors that influence are regarding permits and documentationwhich have to be obtained by organisation during different stages of construction.Moreover, political influence will involve the degree to which government has itsinfluence on construction industry (Haughton, 2012). Continuous changes in duties andtax rates will provide negative impact revenue generating structure of RL Maynard.However, manager needs to measure the influence of these factors on business fordeveloping appropriate plans. Economical: These factors involve economic functions and its impact on operations oforganisation. In this context, increase in inflation rate of UK economy has affected RLMaynard by increasing their prices of construction services Rise in inflation tends toraise their cost of property construction. Social: These factors scrutinize the entire event that affects market and communitysocially. It involves influence of dynamic of population, global warming, culturalexpectations, norms and career attitude. Changes in customer requirement also affectsthe business decision and planning of RL Maynard. Manager of organization needs toconsider influence of these factors on business to make decisions in the planning process.Technological: These are related with innovation and changes in technology which hasresulted in alterations in company's operations and the market either favourably orunfavourably. In this context, improvement and application of new technologyequipments and Machinery has provided support to organisation in making innovativedesigns for their clients. Legal: This factor influences all legal aspects such as quotas, resources, exports, importsand employment etc. In present scenario, changes in employment laws have providedmajor influence on construction companies in UK by increasing their labour cost. Data3
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