Planning for Growth Assignment (Solved)

Added on - 12 Nov 2020

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PLANNING FOR GROWTH
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Analysing and evaluating key considerations for growth opportunities at SpeedboardAssembly Services..................................................................................................................1P2. Utilisation of Ansoff's growth vector matrix at Speedboard Assembly Services to evaluateopportunities for growth.........................................................................................................2M1 Options for growth to understand competitive advantages..............................................4D1 Critical evaluation of methods for growth and their risks................................................4TASK 2............................................................................................................................................4P3. Potential sources of funding and their benefits and drawbacks.......................................4M2 Potential sources of funding evaluation...........................................................................6D2 Critical evaluation of sources of funding at Speedboard Assembly Services..................6TASK 3............................................................................................................................................6P4. Business plan design including financials and strategic objectives of SpeedboardAssembly Services..................................................................................................................6M3 Business plan development for growth and achieving objectives.................................10D3 Presentation of business plan of Speedboard Assembly Services..................................10TASK 4..........................................................................................................................................10P5. Exit or succession options for Speedboard Assembly Services and its benefits anddrawbacks.............................................................................................................................10M4 Evaluation of exit or succession options........................................................................11D4 Critical evaluation of exit or succession option for Speedboard Assembly Services....12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONGrowth is vital for any business organisation and has to be planned by management. Ithas various elements that are considered for making strategies so that goals are achieved. Thecurrent position of company, vision of their future and techniques for fulfilling them are kept inmind while developing planning for growth (Kerzner and Kerzner, 2017). Speedboard AssemblyServices is an organisation that manufactures and provides electronic products and services forhardware. They have been operating for 30 years and are located in UK. This report will analyseconsiderations while evaluating various opportunities for growth at Speedboard AssemblyServices. It will assess methods of funding as well as its benefits and drawbacks. Developmentof business plan will help communicate measures for growing business and exit and successionplans will be assessed as well.TASK 1P1. Analysing and evaluating key considerations for growth opportunities at SpeedboardAssembly ServicesSpeedboard Assembly Services can analyse various growth opportunities and evaluatethem while planning for their growth. The key considerations are as follows:Market research:Growth opportunities involves assessment of market in which Speedboard AssemblyServices operates and sells their products. This can help them to analyse how customers purchasegoods and services as well as the quality they prefer (Birley and Stockley, 2017). Company hasto know if there is an opportunity for growing in that specific market.Price and costing:Speedboard Assembly Services has to analyse prices at which they sell their productsand services. They have to ensure that prices are affordable so that customers buys from them.Production has to be done at low costs as well, so that company is able to earn revenues that canhelp them in growth.Financials:Speedboard Assembly Services can assess their financials as it will be a key point whileplanning for growth. They need to evaluate their resources and investments before creatingvarious plans(Raco and Moreira de Souza, 2018). Loans from banks and government grants canhelp them to achieve a financial position which can help them in growing and expanding.1
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