Planning for Growth: Key Considerations, Ansoff Matrix, Funding Sources, Business Plan

Planning for
growth

Contents
INTRODUCTION...........................................................................................................................................3
TASK 1..........................................................................................................................................................3
P1: Key considerations for evaluating growth opportunities...................................................................3
P2: Ansoff Matrix.....................................................................................................................................4
TASK 2..........................................................................................................................................................5
P3: Potential sources of funds.................................................................................................................5
TASK 3..........................................................................................................................................................7
P4: Business Plan.....................................................................................................................................7
TASK 4..........................................................................................................................................................9
P5: Succession options for a business......................................................................................................9
CONCLUSION.............................................................................................................................................10
REFERENCS................................................................................................................................................12

INTRODUCTION
Planning for growth is a strategic activity which is performed by different types of
business organizations so that they can make a plan to achieve higher growth rate in the future
time period and can stay ahead of their various types of competitors without problems and issues.
This will make sure that they are able to achieve their goals and objectives and can maximize
their level of profits for achieving growth (Baschat, 2018). For this report, Relove Technology
Ltd. has been selected. It is a telecommunications equipment supplier in London, United
Kingdom. In this assignment, detailed analysis will be made on analysis of key considerations
for SMEs, various methods used by organizations to access funding. Also, specific analysis will
be made on development of business plan and assessment of various ways through which a small
business owner can exit the business and the implications of each option.
TASK 1
P1: Key considerations for evaluating growth opportunities
There are various types of key considerations which the organizations are required to take
to evaluate the growth opportunities which are available. Relove Technology’s managers can
make use of the following model for this purpose-
Mckinsey’s 7s framework-
This framework makes use of different internal elements of an organization to look at its
design. It identifies that whether they are effectively aligned and allow the organization to
achieve its objectives (Colantoni and et.al., 2016). It can be used by the management of Relove
Technology so that they are able to analyze the various elements of their company in the context
of achieving higher growth.
There are different types of elements in this framework. The detailed analysis of these
elements is as follows-
 Strategy- It refers to the plans which are made by the organizations so that they are able
to achieve their short-term and long-term goals and objectives. Relove Technology can
make use of the right strategies and therefore make sure that it is able to achieve higher
growth in the future time period.
 Structure- It means the way a particular company is organized. This is quite important as
it establishes hierarchy in an organization and therefore ensures higher-level of efficiency
as well as effectiveness. The managers of Relove Technology can make sure that they are
able to set a right structure in the organization which will lead towards more productivity
and thus the company will achieve higher growth.

 Systems- It refers to the way daily activities and procedures are structured by the staff to
get the job done. The management of Relove Technology can make sure that they set a
right system in the company which helps them in achieving higher growth rate in the
future time period.
 Shared values- It means the core values of the organization. These are extremely
important for it because the right values have to be framed to make sure that the company
can achieve higher growth rate. Thus the managers of Relove Technology are required to
pay attention to them.
 Style- It refers to the style of leadership which is adopted by the organization (DODDS,
DIMANCHE and SADOWSKI, 2018). This is crucial for an organization because the
leaders play an important role in making sure that the company achieves a higher growth
rate. The management of Relove Technology is required to make sure that they are able
to use the right style of leadership.
 Staff- It refers to the employees of the organization and their general capabilities. The
efficiency and effectiveness of the staff of the organization has to be ensured so that the
goals and objectives of the firm can be achieved without problems and issues. The
managers of Relove Technology can make sure that they are able to motivate the staff to
perform at its best so that the growth opportunities can be used in the right manner.
 Skills- It refers to the actual skills and competencies which are displayed by the workers
of a company. The management of Relove Technology can make sure that the skills and
competencies of employees of the organization are enhanced effectively and efficiently
so that the goals and objectives are achieved and the higher growth opportunities are used
in the right manner by the organization without problems and issues.
P2: Ansoff Matrix
Ansoff Matrix can be used for the purpose of strategic marketing planning and thus it can
be used for the purpose of looking at various opportunities to grow the revenue for a business
through developing new products or services or “tapping into” new markets (Gounaridis,
Chorianopoulos and Koukoulas, 2018). It can be used by the managers of Relove Technology for
identifying growth opportunities for the future time period.
The different types of elements of this matrix can be analyzed as follows-
 Market penetration- In this strategy, the organizations can look at selling more of their
existing products and services in the existing customer base (Gumel, 2019). This strategy
can be highly useful for the companies to effectively increase their level of profits in the
future. The management of Relove Technology can make sure that they are able to
achieve their desired goals and objectives and ensure higher growth rate through this
strategy.
 Market development- In this strategy, the companies can take the route of entering into
new markets. This strategy can be useful for the organizations to enter into profitable
markets and thus maximize their earnings there. The managers of Relove Technology can