Analysis of Growth and Planning Studies

The provided document is an extensive compilation of research papers and articles on growth and planning studies. It includes a meta-analysis on the business planning-performance relationship in small firms, as well as studies on regional development strategies, periodontal research, and entrepreneurship theory. The papers cover topics such as smart growth, product service agglomeration, and economic development, among others.

PLANNING FOR GROWTH

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key consideration for evaluating growth opportunities and justification of considerations. 1
P2 The opportunities for growth applying Ansoff's growth vector matrix.................................4
TASK 2............................................................................................................................................6
P3 Potential sources of funding available to business and elaborate the business and benefits
drawbacks....................................................................................................................................6
TASK 3 ...........................................................................................................................................8
P4 Frame a business plan for growth which contains financial information and strategic
objective .....................................................................................................................................8
TASK 4............................................................................................................................................9
P5 Exit or succession options for a small business explaining the benefits and drawbacks.......9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Planningis a process of creating vision, goals, objective and activities related to growth
and development of association and organisation. This is mainly associated with analysing the
future possibilities and opportunities of growth and development of business (Barbour and
Deakin, 2012. Type of activities and the functions are aligned with creating vision and values for
better execution and development of organisation. Planning provides a basic structure to attain
appropriate balance of business. Designing process mainly identifies the aim and objective to be
attained and formulation of strategies, arrangements of resources and implementation of sources
within organisation.
This report is prepared to analyse the provision for growth with in organisational context.
Murrill Construction is the chosen organisation to elaborate the concept of planning and growth
which deals in construction contracts and provides real estates solutions. Considerations
regarding planning and growth opportunities, Ansoff's growth vector matrix are illustrated with
business examples. Potential sources of funding available to business and benefits and
drawbacks are explained.
TASK 1
P1 Key consideration for evaluating growth opportunities and justification of considerations
Business growth and development is one of the priority of organisation to extend the
operations and management. Planning plays vital role in terms of making plans and the strategies
for sustainable development and succession of business. Murrill Construction is one of the
construction organisation which provides construction services and solutions to builders and the
contractors. This is mainly associated with operations and management of wholesale export
express and import services related to goods and services. Organisation is engaging the services
of providing solutions regarding construction, incorporations of assets and lands, selling and
purchasing of lands and buildings.
Competitive Advantages
Getting competitive advantages is one of the main motive of planning and strategy
mapping. Murrill Construction mainly associated with providing the construction services to
large corporates and builders. HESL is one of the tuff competitors of organisations which are
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dealing with risk and management related to construction contractors (Brinckmann, Grichnik and
Kapsa, 2010). There are type of strategies and plans made subject to analyse the cost of
operations and management related to construction contracts. There are some market changes
and trend variation happening in general business context which affect the operations and
management of business.
Porter's Generic Strategy Model:
It is one of the effective model which help business organization to evaluate the overall
profitability level of the company at market place. Along with this, it also help in attaining the
competitive advantage from its rivals. In context of Murrill Construction, they also use this type
of model to analysis their overall performance level at market place. As it includes four generic
strategies are as follows:
Cost Leadership: Under this strategy, company become the low cost producer in market
place. Thus, it is important for Murrill Construction to keep their products cost low in order to
attain higher market share. Mainly, cost advantage sources are highly based on the company
structure. In addition of this, it is also important for company to attain economics of scale, secure
raw material at competitive prices which help in improving overall performance of the company.
Differentiation: By using this strategy, company can easily serve unique and quality
products to their customers to attain satisfaction level of the customers. Mainly this type of
strategy is relate with development of products and services which offer specific and unique
attributes. In this company also charge premium price for their unique products. Along with this,
it is also important for Murrill Construction to be flexible so that they easily adapt changes
effectively.
Cost focus: This type of strategy refer to the narrow segment to attain either a cost
advantage and differentiation. With the use of this strategy, Murrill Construction can easily
attain customers loyalty towards the company and its products as well. As it also help in
attaining competitive advantage from its rivals.
Apart from this, Murrill Construction use cost leadership strategy for enhancing their
customers base and profitability by serving quality products and services at low cost. This will
contribute in inviting large number of customers towards its services.
PESTEL analysis
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Political: this analysis mainly helps to understand the structure of business at next level
in terms of political aspects. UK and European Union countries adhere equal rules and
legislations which are framed in UK. Murrill Construction may face the challenges regarding
making agreements and constructions for maintaining the effective structure of business.
Economical: this is mainly intended to economic health of organisation and commercial
and residential property (Chapin, 2012). The UK of government us mainly used as taxation
subject to manage and encourage the structure of business. Climate change, Aggregate and
landfill taxes, variations in price policies of properties and plans are also defined in this context.
Economical factors as infrastructure growth rate, succession of real state business, inflation rate,
foreign exchange rate are some economical factors which may impact the formulation and
structure of Murrill Construction organisation.
Social: this factor mainly helps to analyse the social factors which bound the
circumstances. There are changes in terms of living index and crime, ageing population, interest
of people towards investing in properties and lands are analysed in this context. Murrill
Construction may be face the challenges regarding social trends, mind sets of public in terms of
analysing the customer choice and interest.
Technological: UK is one of the fast growing nation in terms of advancement and
technology for better understanding and managing the operations of organisation. New
construction technologies affect the working practices in the building industry constructing more
components systems subject to elements rather than the building site. Change in the industry’s
operations and the market either favourably or unfavourably. As technology many a times
becomes obsolete within a few months after being launched, it is crucial to consider it. This is
also related to the amount of technological awareness that the company possesses.
Environmental: Increasing consumption level of high carbon dioxide emission products
and tools are affecting the natural environment. Managers of Murrill Construction need to
prepare the CSR policies and strategies by considering the above major two issues which may
helps to interconnect the roles and liabilities related to Kyoto agreement in production of Carbon
Dioxide form the burning of fossil fuels and waste on land fill.
Legal: Rules and legislations are defined in terms of operating and managing the
construction organisations which mainly associated with building market plans and structure in
legal terms (Christofakis and Papadaskalopoulos, 2011). There are highly associated fragmented
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and performance of the organisation evaluated as well organised manner. Organisers of Murrill
Construction should analyse the legal terms which are related to construction contracts as The
Competition Act of 1998 (Act No. 89 of 1998), The Preferential Procurement Policy Framework
Act of 2000 (Act No. 5 of 2000), The Promotion of Access to Information Act of 2000, (Act No.
2 of 2000).
Justification of Approaches
As per above analysis there of PESTEL and Porter's five forces model effectiveness may
be evaluated as follows;
Vertical integration: In this kind of joining, there is control of directors of Murrill
Construction on performing business activities successfully. In this there is control on tasks from
creation to dispersion of printers. In this kind of joining, there is control of directors of Murrill
Construction on performing business activities successfully. In this there is control on tasks from
creation to dispersion of printers.
Horizontal integration: Through level combination economies of scale stick
accomplished. This is powerful to expand business . Branch of Murrill Construction will be
insightful in single specific territories.P2 The opportunities for growth applying Ansoff's growth
vector matrix
P2 The opportunities for growth applying Ansoff's growth vector matrix
In this present scenario, every business organisation wants to grow and diversify at
marketplace and for the same they are tend to acquire new effective strategies and policies thus
to gain high competitive edge (Eddleston and et. al., 2013). Murrill Construction works
according to the changes at marketplace and for this it uses effective marketing strategies for
accomplishing its goals and objectives in the best possible. In order to expand business at global
level there is need of appropriate planning and guidance for completion of working activities.
Planning is important task for top management which supports to recognise what is going to be
done, how to do it and what are the resources required for this. Along with this, there are certain
possibilities through which business organisations can grab better future opportunities; it
supports management to grab better future opportunities from target market. In this manner,
Ansoff matrix is one of the technique which supports managers to know scope of expansion and
make changes as per business policies. The matrix was founded in 1957 by H. Ignor Ansoff
which relies upon how to expand market grid.
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ANSOFF'S GROWTH VECTOR MATRIX
Its a technique of measuring risks and uncertainties which are available in different
market. Under ansoff matrix, if an organisation wants to grow for long term then it needs to
increase its market areas and acquire certain other strategies thus increase the market area. There
are four strategies involved in ansoff matrix, such as – market penetration, market development,
product development and diversification; it depends upon managers which tactics is used.
Therefore, Murrill Construction can acquire this matrix to identify potential risk and suggest
which plan is appropriated for business organisation.
UNDERSTAND THE TOOL:
Ansoff matrix was published in an article of “strategies for diversification”. In this
leaders and marketers gives advice towards how to generate profitability in risky markets. Ansoff
is also known as product/market expansion grid (Grover, Bokalo and Greenway, 2014). The
idea, behind this is that management can go into a new quadrant (horizontal or vertical) for
increasing market areas. There are four quardants of this matrix which are defined as under: -
Market development – In this firms are tend towards acquiring new and innovative
techniques to increase market areas. For this purpose, it is focused on producing effective and
value added products which are able to satisfy customers' needs and wants. The strategy of
product development encompasses with determining new markets in which firm can expand its
business with its existing products and services. It is quite difficult when target audiences are
new for the company, it can affect sales and profitability of company. By developing string
infrastructure and levels will lead organisation.
Market penetration – In this market expansion strategy, organisations deal with similar
products in existing markets by using efficient marketing and promotional strategy. The main
objective of this strategy is to penetrate in current market by improving quality of products so as
more and more customers can know about it. Its a best technique to evolve business and achieve
desired outcomes. This strategy will help to interrelate the issues and problems which occurs due
to change in demand.
Product development – This block deals with using techniques in which quality and
features of a specific product get re-innovate which supports organisation to remain successful
under competent market. Along with this, in order to develop or improve products firms can
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acquire different tools and techniques which are vital for satisfying customers' needs in the best
possible manner and attain organisational objectives (Yousefi, Shafaghat and Shakeri, 2014).
Diversification – In this strategy, companies are trying to enter into new market by
having new products. Diversification strategy is too risky because managers do not have any idea
about new market and its customers' preferences. There is a need of diversifying market cause of
getting high competitive edge.
Identification and mitigation of risk
There are certain gateways by which corporate associations can work as market trends. In
construction companies it is quite risky to determine and invest in changing techniques. Another
risk factor is bridging generation differentiations in order to accomplish coordinated productive
efforts (Sreedhar and et. al., 2018). In order to mitigate risks, contractors like Murrill
Construction needs to plan several new strategies and policies thus to put their plan into action.
There are no pre-defined road maps which guarantees of success in order to expand a company's
footprint and deliver additional services. Therefore, success can be only attained by proper
planning, insight and ongoing monitoring to make sure today’s opportunity translates into
tomorrow’s reward.
Collaboration
Modes Benefits Drawbacks
Mergers There are some advantages
also associated with brand
name of organisation.
It is evaluated that there are
possible aspects are analysed
in terms of distributing assets
and liabilities.
Acquisitions This is one of the option of
expanding the business by
acquiring the similar business.
There are possible aspects also
identified in terms of affecting
the business operations.
Joint ventures In this context there are some
deals and sales agreements
analysed in terms of managing
operations at large scale.
There is a lack of control and
authority in this type of
collaboration and bifurcating
the liabilities and assets.
Strategic alliances This mainly associated with Perspective and mind-set
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working in partnership subject
to partnership but individual
existence of partners.
derives from person to person
which may increase conflicts.
It is suggested that organisation should choose merger option because Murrill
Construction is small scale construction which had no enough source of funds to build up the
structure by its own in this case it is the best option for organisation to merge with the similar
entity which will help to enhance the capital structure and infrastructure of business.
TASK 2
P3 Potential sources of funding available to business and elaborate the business and benefits
drawbacks
Capital is considered as one of the crucial aspects for the department in respect to
organise various resources that are required for the purpose of attaining maximum return in near
future time. The primary source can consist of various alternative sources that is having crucial
impacts on overall project costs, cash flows and debts obligations to make claims about income
and other assets of an organisation (Ball and et. al., 2014). It is effective part of business which is
usually includes two extra incomes to a business that need for doing their business for short span
of time. It is mainly helpful for maximum period of one accounting year. The cited company
required funds for operating the activity of an enterprises in reliable manner for longer period of
time. UK government need to make effective policies as well as reliable appreciated to make
provision of capital to medium and small level of business those are done due their business that
are operating for getting reliable manner. It is essential for every entrepreneur to consider
valuable sources of capital that will assist in operating entire activities and operation of
enterprise in reliable manner. There are various kind of profitable sources of finance mentioned
underneath:
Bank loan: It is considered as one of the crucial form of fund that are available for an
organisation. A bank loan provide medium or long term capital finance which will be helpful for
the department to operate their internal aspects in best manner. The manager of bank set limited
duration for repayment of loan with 3,5,5 and 10 year of scale. They can get loan at very low rate
as well as in more easy manner.
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 Advantage: It is considered as one of the legal as well as set in which organisation used
to make payment of fixed interest rate to evaluate financial institution or banks.
 Disadvantage: In case the borrowers select unsecure loan, they need to hit with overall
higher interest rates. All the loan borrows can be paid as per the periodic payment to
their banks.
Crowdfunding: This happens to be effective practice of funding any of an individual project
or venture which will be taken into account for raising capital for wide scale business. It is
mainly considering as one of the effective use of small amount of capital from various
department (Yahui and Lijuan, 2015). It consists of soliciting relatives that modest contributing
from a large group of an individual. In some cases, finance can be raised from various concern.
Advantage: It can consider as one of the effective and simple ways of raising finance with
no any additional fees. Pitching any kind of project or business through using online mode can
be considered as valuable for effective marketing.
Disadvantage: In case of any project which can fail will affect the goodwill of the business
and most of the people that can have pledged in amount to them are need to bear all the
implications.
Peer to peer lending: As per this method of debt financing particular individual to lend as
well as borrow capital without considering any other official organization of finance as a
midway. This will also reduce the procedure of middlemen but it includes risk, efforts and time
etc.
Advantage: This seems to be more beneficial for that can retain for wider returns than other
traditional financial enterprises.
Disadvantage: Investors remains less confident subject to security of repayment of their
lending and investments. Moreover, lag in time also affect the pricing strategies and plans are
observed with traditional sources.
As per above give sources of funds it is suggested that Murrill Construction peer to peer
lending will be the beneficial options for fulfilling the capital needs and maintain strong capital
structure of business. At small scale peer to peer lending helps to enhance the connectivity with
in local market and improve the goodwill too.
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TASK 3
P4 Frame a business plan for growth which contains financial information and strategic objective
Marketable strategy is the procedure which is use by supervisor of Murrill Construction
to comprehend what should be possible to accomplish targets and how it can be performed.
There are conceivable outcomes that there is confounding identified with exercises of business,
at that point marketable strategy is compelling for development (Gamal,Abdel Ghaffar and
Alghezwy, 2016). This is powerful instrument for extension of Murrill Construction.
Strategy for success arranged by directors of Murrill Construction is examined as under-
Company Description
Murrill Construction is a small scale business which manages giving best printing
arrangements. This is compelling for development of computerized realistic area. This affiliation
was built up in 19685. It makes most recent innovative printers. They have association with
Kala, Epson, Caldera.
Mission: Mission of Murrill Construction is to give best fulfilment to clients. They
accompany advancement and motivation which goes for expanding benefits.
Strategic objectives: This can be accomplished with the aides of Savvy destinations.
This implies above talked about target is particular, quantifiable, achievable, practical and time
bound. The fundamental target of Murrill Construction is attempting to perform business goals,
so they plan to expand their benefits from 20% to half in next two years. This inspires
opportunity to function according to necessity of society and targets can be accomplished on
time.
Products and services
They are furnishing administrations related with printing. They have assortment of
printers which are of most recent innovation.
Internal analysis
Interior examination of assets is vital in light of the fact that it thinks about frail and in
addition solid purposes of Murrill Construction. There are conceivable outcomes this happens
due to not working as indicated by showcase. There is much rivalry in advanced types of gear s
this influence business objectives and goals (Lyee and Cowling, 2015).
Strengths Opportunities
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 They have cooperation with different
well-known brands this help’s to keep
up faithfulness of clients.
 As extent of advanced promoting is
compelling, at that point this is viable
for development of business. They
utilize innovation which gives edge
over contenders
 This affiliation bargains in limited
market of Britain, so they should extend
their business activities.
 They should grow their business in other
division too.
Target market
There are numerous progressions which are successive to advertise. At little level target
clients are PC shops, digital bistros, family purposes, and so on. Target market of Murrill
Construction are schools, school, commercial organization, diversion sources, and so on they are
sources which utilize printers habitually.
Niche marketing is mainly defined as communicating with marketing functions and segments.
this is the market where no competitor exist in the targeted market. Henceforth the company
decided to emerge in these market. This mainly associated with exploring the product scope in
specific market. As the Murrill Construction has a targeted market of medium income group
customers which keep the capacity to buy properties and lands.
Financial information
There is necessity of examination before choosing source. financial needs which
performs business goals in powerful and effective way. This gives learning about contender's
arrangements as well. There are different sources to raise reserves, so it is critical to choose part
which is most appropriate for business purposes. Supervisors of Murrill Construction utilize
bank advances, per individuals, swarm subsidizing, and so on which are critical for development
of business. Monetary status of organization must be solid, so this gets stores from various
sources. While choosing stores from outer sources there is utilization of strategies which are
skilled to targets and it must b e utilized ideally.
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TASK 4
P5 Exit or succession options for a small business explaining the benefits and drawbacks
Extension of business does not implies there will positive outcomes as it were. There are
potential outcomes of negative outcomes as well. This negative outcomes may prompt
conclusion of business. There are numerous progressions which are occurring in business
condition administrators of Murrill Construction must think of it as and design business activities
in viable way. There is us e of methods through which organization can work and inspire change
to enhance picture. There must be utilization of methods through which development of business
is conceivable. There are a few targets which is settled by administrators of Murrill Construction
so it is successful for making systems according to necessity. Target must be settled with
particular day and age and results must be judged appropriately (Reddy, Ambati and Koduganti,
2015). Allocation of resources and the management helps to compelling the task in more
effective manners. On the off chance that organization faces money related misfortunes then this
influences business activities in critical way. . There are conceivable outcomes potential
outcomes out of it.
Different approaches to leave business
There are imaginable results in terms of of utilization of advancements which are not up
to the token. There are favourable outcomes that organization don't ready to take care of expense.
At this stage performance of organisation based upon activities. . For this situation exist is the
main factor which influences business tasks. Finally exit is the alternative. Following ways can
be utilized with the assistance of which exit is conceivable.
Advantages Disadvantages
Liquidation Liquidation is a legitimate
procedure through which every
one of the obligations are paid
and thus there is no terrible
picture as a main priority of
clients. So there will no
antagonistic impact on offers
of different outlets.
There is necessity of lawful
marks from concern parties
which may make clashes
among individuals.
There is utilization of variables
which is viable for
development of business.
Liquidation is time a well, as
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There is legitimate arranging
which makes business
activities according to
necessity. There are potential
outcomes of subsidizing from
out source to spare business.
cost devouring procedure.
Sell of business in open market This rolls out improvements in
activities of affiliation. There
is utilization of components
which are compelling for
development of business. In
this technique, picture of
company don't get disturbed.
This gets change in economy
of nation. There will refund in
expenses to parties who buy it.
This may make diminished in
esteem as thought about
different organizations. In this
strategy monetary status of
organization comes before
outside gatherings.
There are potential outcomes
of loosing specialists which
makes question to running of
business.
Approaches to give progression of business
There is utilization of innovations which is powerful and proficient for accomplishing
targets. At the point when extension of Murrill Construction undertaking can win suitable
benefits, at that point this is viable for development of business. There are a few methodologies
which can be utilized by administrators of Murrill Construction which help to give help with
development of business. These are talked about as under-
Advantages Disadvantages
Utilization of skill information Through this refreshed and
skill information can be
utilized to business. This
functions according to change
business condition. Director
has pertinent and current
information.
There is fetched related
with this technique.
Director may dependent
ward to aptitude and they
utilize data as needs be.
This may here and there
proofs wrong for
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Client gets administrations
which are present and in vogue
in showcase.
affiliation.
Web sources Web is quick and serving
society at quick speed. This
gets arrangement of issue
inside seconds. This can be use
inside hands and according to
require.
Weakness of this strategy
is that each individual
can't manage it as they
wear not know about it.
CONCLUSION
As per above framed report it is summarised and concluded in subject to planning for
growth. Above report defines the main aspect in terms of assisting the structure of business at
next level and the process of planning and growth for managing the operations and management
in better way. Key considerations SME's are considered while growth opportunities and
evaluating the growth opportunities. Type of funding sources subject to provide financial for
selected organisation defined in this context. Approaches to effective succession of business also
defined in this context.
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