Planning For Growth INTRODUCTION

Planning For Growth

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Analyse key considerations for evaluating growth opportunities.....................................1
P2 Apply Ansoff's matrix to evaluate opportunities for growth............................................4
TASK 2............................................................................................................................................6
P3 Assess potential sources of funding available to businesses.............................................6
TASK 3............................................................................................................................................7
P4 Design a business plan for growth...................................................................................7
TASK 4..........................................................................................................................................10
P5 Assess exit or succession options for small businesses..................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Planning for growth is a strategic process which aid business people to formulate plan
and monitor growth of an organisation. This activity enables business to delegate resources in
respect to adaptation in their sector. New and innovative technologies are implemented in system
which make firm distinct from rival brands (Arku, Yeboah and Nyantakyi-Frimpong, 2016).
Present report is based on 360 Home Decor which is interior designing firm. Company has made
bid of £1,50,000 in government contract that is “Home group- Interior design services Scalby
Road”. Key considerations that is porter's generic, PEST and Ansoff's matrix are stated in this
assignment. Besides this, potential sources of funding and business plan for growth is explained.
Succession and exit options for small business are also mentioned in the report.
TASK 1
P1 Analyse key considerations for evaluating growth opportunities
Small and medium enterprises posses capability to enhance their sales and profit.
Executive assess market which help them to gain information about growth chances for
enlarging business and market reach. Porter's generic strategies and PEST analysis are tactics
which are used by business person of 360 Home Decor to examine growth opportunities. Thus,
this benefit them to create competitive edge by analysing external factors.
Competitive advantage: This is strategy which is used by firms to become different from
rival brands. For this, porter's generic model is used business person of 360 Home Decor for
adopting appropriate strategy. This helps them to make system and business operations superior
than competitors. It also assist them to provide creative and unique products to grab attention of
people easily (Andersson and Moroni, 2014).
Porter's generic competitive strategies: This model was developed by Michael Porter
which define various tactics that organisation can adopt for creating competitive advantage. It is
not possible that firm will remain market leader forever. Top personnel frame clear objectives,
strategies and business activities for building sustainable competitive advantage. Thus, these are
various tactics which are described below (An introduction to Porter’s Generic Strategies,
2015):
1