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Planning for growth introduction in a smal business

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Added on  2020-10-22

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PLANNING FOR GROWTH INTRODUCTION 1 TASK 11 P1 Key consideration for evaluating growth opportunities and justification of considerations1 P2 The opportunities for growth applying Ansoff's growth vector strategy matrix 4 TASK 26 P3 Potential sources of funding available to business and elaborate the business and benefits drawbacks6 TASK 38 P4 Frame a business plan for growth which contains financial information and strategic objective8 TASK 49 P5 Exit or succession options for a small business explaining the benefits and drawbacks

Planning for growth introduction in a smal business

   Added on 2020-10-22

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PLANNING FOR GROWTH
Planning for growth introduction in a smal business_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key consideration for evaluating growth opportunities and justification of considerations.1P2 The opportunities for growth applying Ansoff's growth vector matrix.................................4TASK 2............................................................................................................................................6P3 Potential sources of funding available to business and elaborate the business and benefitsdrawbacks....................................................................................................................................6TASK 3 ...........................................................................................................................................8P4 Frame a business plan for growth which contains financial information and strategicobjective .....................................................................................................................................8TASK 4............................................................................................................................................9P5 Exit or succession options for a small business explaining the benefits and drawbacks.......9CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONPlanningis a process of creating vision, goals, objective and activities related to growthand development of association and organisation. This is mainly associated with analysing thefuture possibilities and opportunities of growth and development of business (Barbour andDeakin, 2012. Type of activities and the functions are aligned with creating vision and values forbetter execution and development of organisation. Planning provides a basic structure to attainappropriate balance of business. Designing process mainly identifies the aim and objective to beattained and formulation of strategies, arrangements of resources and implementation of sourceswithin 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 growthwhich deals in construction contracts and provides real estates solutions. Considerationsregarding planning and growth opportunities, Ansoff's growth vector matrix are illustrated withbusiness examples. Potential sources of funding available to business and benefits anddrawbacks are explained. TASK 1P1 Key consideration for evaluating growth opportunities and justification of considerationsBusiness growth and development is one of the priority of organisation to extend theoperations and management. Planning plays vital role in terms of making plans and the strategiesfor sustainable development and succession of business. Murrill Construction is one of theconstruction organisation which provides construction services and solutions to builders and thecontractors. This is mainly associated with operations and management of wholesale exportexpress and import services related to goods and services. Organisation is engaging the servicesof providing solutions regarding construction, incorporations of assets and lands, selling andpurchasing of lands and buildings.Competitive AdvantagesGetting competitive advantages is one of the main motive of planning and strategymapping. Murrill Construction mainly associated with providing the construction services tolarge corporates and builders. HESL is one of the tuff competitors of organisations which are1
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dealing with risk and management related to construction contractors (Brinckmann, Grichnik andKapsa, 2010). There are type of strategies and plans made subject to analyse the cost ofoperations and management related to construction contracts. There are some market changesand trend variation happening in general business context which affect the operations andmanagement of business.Porter's Generic Strategy Model:It is one of the effective model which help business organization to evaluate the overallprofitability level of the company at market place. Along with this, it also help in attaining thecompetitive advantage from its rivals.In context of Murrill Construction, they also use this typeof model to analysis their overall performance level at market place. As it includes four genericstrategies are as follows:Cost Leadership: Under this strategy, company become the low cost producer in marketplace. Thus, it is important for Murrill Construction to keep their products cost low in order toattain higher market share. Mainly, cost advantage sources are highly based on the companystructure. In addition of this, it is also important for company to attain economics of scale, secureraw material at competitive prices which help in improving overall performance of the company.Differentiation: By using this strategy, company can easily serve unique and qualityproducts to their customers to attain satisfaction level of the customers. Mainly this type ofstrategy is relate with development of products and services which offer specific and uniqueattributes. 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 changeseffectively. Cost focus: This type of strategy refer to the narrow segment to attain either a costadvantage and differentiation. With the use of this strategy, Murrill Construction can easilyattain customers loyalty towards the company and its products as well. As it also help inattaining competitive advantage from its rivals. Apart from this, Murrill Construction use cost leadership strategy for enhancing theircustomers base and profitability by serving quality products and services at low cost. This willcontribute in inviting large number of customers towards its services. PESTEL analysis2
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