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Planning for Growth Assignment - Pixel and Prints

   

Added on  2020-10-05

14 Pages4506 Words362 Views
PLANNIG FORGROWTH

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating the growth opportunities.................................................1P2 Identification of growth opportunities by the use of Ansoff's growth matrix........................4TASK 2............................................................................................................................................5P3 Potential sources of funding and their advantages and disadvantages..................................5TASK 3............................................................................................................................................7P4 Designing business plan for growth of organisation..............................................................7TASK 4............................................................................................................................................9P5 Exit and succession option for small business.......................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONPlanning for growth means making strategies which are competent for growth oforganisation. In this different strategies are framed which plays essential role in development ofassociation. To take business at hype, there is requirement of planning by top level managers andsubordinates to act accordingly. There are many areas such as operations, productions, whichhelps to run business operations in smooth manner (Barbour and Deakin, 2012). Manager has tomake alteration in their business operations, so growth prospects can be open for organisation.This report is based on printing press “Pixel and Prints” which initially deals in printingnewspaper, but they are thinking to expand business through printing magazines. They under acontract name as “Print and Distribution of South Lakeland” for selecting sources of funds. Inthis report there is discussion about evaluation of growth prospects, methods of raising funds,business plan, exit and succession policy. TASK 1P1 Key considerations for evaluating the growth opportunities“Pixel and Prints” is a small firm which deals in newspaper printing. This organisationhas machines for printing newspaper, now they are thinking to come with print magazines. Thesedays there are many types of magazines such as sports, fashion, cooking, kid’s magazines sothere is scope of expansion of business. This is opportunity of growth for “Pixel and Prints”.Managers analyse market and then final to start printing magazine. In printing sector, customer satisfaction can be achieved through good printing quality,clear font, etc. which makes magazine popularise in society. So to get positive outcomemanagers of “Pixel and Prints” has to keep these factor in mind. Managers of “Pixel and Prints”has to analyse demand and then print magazines as per requirement (Chapin, 2012). Porter'sGeneric Strategy is used by “Pixel and Prints” to analyse market and then strategies are framed.Porter's Generic Model performed by managers of “Pixel and Prints” are as under- Cost leadership strategy- In this strategy, products are priced at affordable price, socustomers can afford it. “Pixel and Prints” has to make price of printing reasonable, so customerswant to avail services. When cost of printing s cheap then profits of “Pixel and Prints” increases.This helps to make good and long term relations with customers. This can be done throughproper planning and actions are taken after analysing market. For e.g. channelize distributionsystem, proper facility of warehouse, etc. 1

Illustration 1: MICHAEL PORTER'S FIVE GENERIC STRATEGIES§§(Source: MICHAEL PORTER'S FIVE GENERIC STRATEGIES, 2018)Cost Focus strategy- As per this concept, there is difference in cost charged withcustomer. According to this concept manager must fix price according to buying power ofcustomers. This helps to provide different price product according to purchasing power ofconsumer. This helps to provide satisfaction to every customer. “Pixel and Prints” has solution ofevery kind of customers. Differentiation focus strategy- There must be some difference according to demand ofcustomers. This helps in satisfying customer demand as per their choice. “Pixel and Prints” canuse option of paper quality for printing magazine. This makes product according to expenditurecapacity of customers (Christofakis and Papadaskalopoulos, 2011). Differentiation focus strategyhelps in increment demand of customers and their satisfaction level. 2

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