Planning For Growth

Planing For Growth

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
P1 Analysis of key consideration of growth opportunities....................................................1
P2 Evaluate the opportunities for growth by applying Ansoff's growth vector matrix..........4
P3 Assess the potential sources of funding available to businesses and discuss benefits and
drawbacks of each source. .....................................................................................................6
P4 Development of a Business plan.......................................................................................7
P5 Access exist or succession options for a small business explaining the benefits and
drawbacks of each option.......................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Planning for growth refers to a set of activities that are carried out by an individual for
improving their skills and abilities. It consist the steps of learning and training through which a
person can enhance their knowledge levels and capabilities in terms of expanding their
performance as well as productivity. However, it is necessary for people to determine their own
weakness and threats in order to overcome with them to improve skills (Pred, 2017). In context
of this report, it is based on Knights and Dukes Homes which provides desired services and
products to customers for completing their needs and demands. This assignment will focus on
the key consideration of evaluating the opportunities of growth by justification and opportunity
in relation to implementing Ansoff growth vector matrix. It will also include potential sources of
funding including their benefits & drawbacks which are available for business organisations. The
effective business plan regarding achievement of growth with financial data and strategic
objectives along with exit & success options for small business are given below.
MAIN BODY
P1 Analysis of key consideration of growth opportunities.
Growth can be described as an important factor for every company to which they are
focussed and establish different strategies regarding the same (Lewis, 2013). It is necessary for
management of organisation to apply appropriate business strategies which facilitate to enhance
productivity as well as profitability. In context of Knights and Dukes Homes, they put efforts to
improve their quality of facilities and products for achieving growth success in business.
Competitive Advantages
The term of competitive advantages can be explained as a condition of a business concern
to manufacture products at affordable prices and deliver it to desired customers. It is necessary
for Knights and Dukes Homes to establish effective strategies to gain competitive advantages in
which some of them are defined here.
Resources – This includes well experiences and talented staff who were consider as an
asset of an organisation along with other resources like funds, raw material or machinery.
Capabilities – In this context, it consist given organisation is much capable in terms of
providing appropriate and innovative products which are easily affordable and satisfy needs of
clients.

Core competencies – It includes the product and services of high quality with advanced
characteristics with reasonable price that helps customers to easily afford them top fulfil their
requirements.
Porter's Generic Strategy
This can be defined as an effective framework which composed of several strategies that
can be used by companies to achieve growth as well as competitive advantage among different
competitive firms at market place (Todes, 2012). It is helpful to Knights and Dukes Homes
enhance their overall productivity and development in respect of improving goodwill of brand in
market. Porter generic strategies consist four factors which are explained below.
Cost leadership – In context of Knights and Dukes Homes, they can be apply the strategy
of cost leadership by reducing their cost of product in such a manner to compete in a large
market among its competitors. It is favourable to gain competitive advantage by establishing
effective cost leadership strategy to grab more customers along with increasing profitability in
regular basis.
Differentiation – This strategy can be described as implementation of innovative ideas
and thoughts to make product creative and unique as compared to other brands in large market to
compete with them. It is suitable to attract new customers along with retaining the current ones
for achieving more benefits than the competitive firms. It can be applied by Knights and Dukes
Homes in order to make their product different in terms of achieving growth at market place.
Focus -
 Cost focus – The strategy of cost focus on applicable of niche market to reduce the prices
of services in respect of grabbing more market along with attaining growth. It is an
effective strategy that is suitable in niche market for making reasonable pricing strategies
so that customers can be attracted towards brand (Mason, 2015). In case of Knights and
Dukes Homes, they can utilise cost focus on survive and gain success in small market
amongst several competitive firms.
 Differentiation focus – The differentiation focus can be described as to make small
modifications of creative changes in products to grab clients in niche market gram
competitive advantage. It includes the criterion of focussing on goods & services of other
brands and make products innovative and unique to increase goodwill. The Knights and