Smart Growth Planning Strategies

This assignment delves into the concept of smart growth planning and its various strategies. It examines how these strategies contribute to sustainable urban development, considering factors like economic growth, social equity, and environmental protection. The assignment also analyzes case studies of successful smart growth implementations and discusses relevant strategic frameworks for effective planning.

Planning for Growth

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Analyse key consideration for evaluating growth opportunities...........................................1
P2 Evaluate the opportunities for growth apply Ansoff's growth vector matrix.........................4
TASK 2............................................................................................................................................8
P3 Assess the potential sources of funding available to businesses and give benefit.................8
TASK 3..........................................................................................................................................11
P4 Prepare business plan for growth that include financial information and strategic objectives
...................................................................................................................................................11
TASK 4..........................................................................................................................................12
P5 Assess exit or succession options for small business...........................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Planning is important for every organisation because it will help in increasing
profitability and productivity in effective manner. Firm will adopt those strategy which is totally
focused on customer based strategy and its main objective is to earn maximum profit within
limited time period. An organisation has to make plan for enhancing growth by doing regular
planning. Business will select various tools and techniques for identify different opportunities for
raise growth and also help in achieving desired goals and objectives (Sheppard, 2013). This
report is based on Talon Outdoor which is home media and advertising company and it is
situated in United kingdom. Firm have approx. 84 employees who works for achieving targets
consumers. The main motive of this report is identify growth opportunities in forthcoming time
period. Ansoff's growth vector matrix help in recognising common growth opportunities for the
company. The topic of this project is “ Impact of digital technology supporting small business
growth and innovation”.
TASK 1
P1 Analyse key consideration for evaluating growth opportunities
Competitive advantage is the key factor which help in developing effective growth and
increasing profitability cost. Firm will try to create that products and services which are different
from other competitors in each manner. There are three determinants which are explained as
under: Sales- It is very essential key factor which help in evaluating growth opportunities for
increasing firm profit ratio and percentage in proper manner. Turnover- The annual turnover rate are important for company will directly affects on
business growth and get more opportunities for enhancing growth and development. Profitability- This is key consideration factor that will evaluate growth chances by
identifying firm actual profit percentage ratio which assist in increasing development.
 Benefit- An organisation will know that their products and services are beneficial for
customers and also they try to convince them for purchasing their firm goods (Deakin,
2013). They mainly deal in latest technology which help in increasing growth and
structure.
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 Target market- This is important factor for the company is to target their desired
customers who are willing to buy their products and services.
 Competition- If a company will sell similar type of products and services than it will
evaluate that they are attracted more customers compare with other firm.
These are some competitive advantage which help in increasing growth of Talon outdoor
for acquiring profitability. Competitive advantage is that advantage which provide competitors
advantage by serving different types of products and services to potential customers and fulfil
their needs and wants.
Porters generic strategies:
Porters has four generic business strategies which can be adopted for gaining competitive
advantage. There are four strategies which are described as under:
Illustration 1: Porters Generic strategies, 2017
(Source: Porters Generic strategies, 2017)
 Cost leadership- This is traditional strategies which help in producing large scale
products for achieving desired goals and objectives. The main objective of this strategy is
became low cost supplier in the firm (Fainstein and DeFilippis, 2015). It is associated
with large business which offer quality products and services to their potential consumers
in effective manner.
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 Cost focus- An organisation desire a low cost benefit for less area market segmentation.
Product will be common and it is totally similar to gain high price and became a market
leader. Differentiation focus- In this strategies, the aim of business is to target small market in
limited time period. The main problem in this strategy is that they have different demand
and wants and present competitors are not fulfil these needs and wants in proper manner.
The main concentration of this strategy is on niche market strategies. Cited firm also
adopt these strategies for increasing growth and accomplishing target goals and
objectives.
 Differentiation leadership- It is very popular strategy which assist in targeting market
and also meet desired objectives and targets. This strategy help in choosing those criteria
which is used by customers in the large market and take position for unique products and
services. For example, international brand like Nike and Mercedes (Brinckmann,
Grichnik and Kapsa, 2010). Both brands are attain important economic standard but they
can not believe on cost leadership.
Development of products and services on the basis of growth- Talon outdoor firm
provide different services such as offer online portal facility which assist in collecting data or
information and also analyse various tools and techniques. These are assist in increasing growth
and development of company in better manner. Above strategies help in modification in latest
technologies and methods which can be adopted by cited firm. This will aid in enhancing growth
and development standard in effectively. These strategies are impact on adopted techniques and
technology which directly create affect on business operations and functions of company.
BCG Analysis- This is another key consideration which provide growth and development
to the company. BCG analysis is used for developing multiple products. These product
categorise are formed as Business portfolio (Bryson, 2011). This will help in deciding which
entity is suitable for business function and provide competitive advantage. There are various
determinants of BCG analysis which are as follows:
 Stars
 Cash cow
 Question mark
 Dogs
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Product life cycle- The progress of products through series of phase from introduction to
growth, maturity and decline it will be called as product life cycle. This will help in identifying
products demand and wants in market area.
Illustration 2: Product life cycle, 2017
(Source: Product life cycle, 2017)
These are some key consideration for evaluating growth opportunities within an
organisation. Talon outdoor company which used these strategies for increasing development
chances of firm in an effective manner. Product life cycle assist in recognising demand of
products among customers and impact of technology will directly affects commodities. Digital
technology affect on cited enterprise during innovation time period. Porters strategies will help in
identify cost structure, differentiation and other features which impact on techniques and
methods of company.
P2 Evaluate the opportunities for growth apply Ansoff's growth vector matrix
It is another opportunities for evaluating growth by implementing Ansoff's growth matrix
within an organisation (Burns, 2010). This marketing planning method which assist Talon
outdoor for determining their goods and strategy of industry development. It is based on existing
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or new goods in the market whether it is new or existing. Some strategies which will
appropriately shows the direction for the business strategy. These are as under:
 Market penetration- It is that market where all enterprise will only focus on selling
existent products into present market place. There are four main objectives of market
penetration are as:
◦ Increase in market share of current products which will assist in achieving
competitive pricing strategies, promotion, sales publicity and large number of
resources.
◦ They can do aggressive promotion of different products and services by usage of
pricing strategy which designed for attracting more customers towards their firm
goods and services.
 Market development- It is that strategy in which business wants to sell its present goods
and services in the new marketplace (Burton, 2010). Here are some possible sources of
forthcoming these strategies:
◦ New product attribute or promotion
◦ New geographical market for exchanging products from one place to another
◦ New distribution channels, for example e-commerce and mail by ordering goods
◦ Adopt various rating policies for attracting different buyers and also develop new
market division Product development- This strategies will used by firm for making attractive goods by
which customers will easily attracted towards them. The main motive of business is to
produce new products into present market. This will required to develop new abilities and
need business for developing modified goods which can exist in large marketplace. It will
also impacted by digital technology of firm. Diversification- It is that strategy which assist in providing growth to the business
production in large market (Chapin, 2012). This is very risky strategy for implementing
in new or existing market. Before adoption of this strategy, company must have clear idea
about future development products and know their competitors goods and services goods
details.
Mitigation risk- It is that risk which help in eliminating harmful risk within an
organisation. There are four kinds of risk mitigation strategies which support specific enterprise
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cohesiveness and unfortunate improvement. This is essential for developing a strategy which are
related to the firm and its company profile is also match with that.
Benefits and drawbacks of collaboration by mergers, acquisition and joint venture
The collaboration directly affects innovation and modification process and also assist in
achieving desired goals and objectives in effective manner. There are various factors which gives
advantage and disadvantage by using collaboration within an organisation (Chen and et. al.,
2014). These are as follows: Mergers- It is that main factor which assist in making collaboration in the firm. When a
company merger with another one and also give them all assets and liabilities it is known
as merger.
Advantage of merger in collaboration:
◦ Increasing the size of firm and help in removing all competitors from the market
◦ To take benefit of action and economies of criterion
◦ Easy method for paying tax amount by the company
Disadvantage:
 Increasing price of enterprise products and services which are serve to the
customers
 Some employees has loss their job during merger process
 Lack of power among each of the company owner at the time of collaboration
 Huge amount of loss by not properly done productivity Acquisition- It is that activity which acquire small business and combine together for
earning maximum profit. Small business enterprise can not able to acquire such company
which has large number of employees.
Advantage of collaboration:
◦ Maximise the size of firm by combine all assets and plants and machinery
◦ Also merger all the employees who have excellent skills and knowledge
◦ Benefit is only for the one firm who acquire all assets and liabilities
Disadvantage
◦ This strategies will reduce price of products by developing different goods and
services
◦ Loss of property at the time of acquisition strategies
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◦ Simple and easy tax payment procedure of company
◦ Most of the employees are exit the job during collaboration Joint venture- It is also known as separate legal entity and joint partnership firm (Duany
and et. al., 2011). Income and expenses of ownership are flow by through joint venture
and it will help in achieving goals and objectives.
Advantage of collaboration:
◦ Gives proper opportunities for increase new capability and skilfulness
◦ Also share all risk with firm partners
◦ Allow enterprise for entrance in related businesses or large market place and also
acquires latest techniques and tools
Disadvantage
◦ Their objectives are not very clear and understandable by employees as well as
organisation
◦ various culture and styles of administration creates issues or problems at the coming
result scenario
◦ Firms provide leadership and help in early stages Strategic alliances- This is that alliance which make relation with increasing growth of
company and both parties have to enhance their brand awareness and capital (Durand and
et. al., 2011). They will establish business for beneficial of firm growth and development.
It will also assist in developing innovative goods and services by implementing this
technique and method.
Advantages of strategies alliances:
◦ They have an chance to provide attractive benefit by offering services to their
customers in proper manner.
◦ Strategies alliances have opportunities that they will easily achieve the target market
by attracting large number of customers
◦ It will assist in increasing brand image in large marketplace. They will also serve
different products and services in innovative manner.
◦ Joint venture will search that business which is new and creative source for increasing
base of potential customers in proper manner.
Disadvantage:
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◦ It is difficult task for the firm is to select right partners for managing and controlling
all activities and functions in effectively
◦ Building a agreeable alliance in which all the partners are agree with all functions and
decision that are performed within an organisation (Eddleston and et. al., 2013).
◦ It is necessary for both the partners that they should maintain trust and loyalty among
each other and it help in fulfil essential desires and needs
◦ Business alliance assist in giving benefits to both parties in context to company profit
and production activity.
TASK 2
P3 Assess the potential sources of funding available to businesses and give benefit
There are various factors which directly or indirectly affects on investment decision
making process. It includes age, gender and occupation and personal risk of finance which is one
of the important element of firm. Risk is that factor which directly impact on business operations
and its functions in effective manner. Talon outdoor company will also adopt these techniques
and methods for increasing growth and identify development opportunities in the new market
place (MacLeod, 2013). The firm mainly analyse various competitors products and services data
or information by using this technique. It will assist in making fundamental analysis, technical
analysis and some more. This will help in developing accurate decision for the welfare of
enterprise growth and success. This will help in identifying various factors that are used in
achieving desired goals and objectives. The main objective of this investment decision making is
to maximise value of shareholder. It also aid company in allocate amount to increasing their
correct amount of capital.
Net present value- It is that term of currency which refers to that time period required for
return on investment. This calculation help in evaluate actual project cost value. It is also known
as NPV which assist in taking accurate decision which use discounted cash flow analysis to
identify expected value of present outcome. The future currency flow directly affect the risk with
anticipated cash flow that will reduces current value of cost flow.
Pay back period- This method is help in evaluating capital investment projects. This will
help in determining time which is required for company rearranging individual capital
investment. It is that method tat will always select those projects which is implemented in short
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time period (Mitchelmore and Rowley, 2013). This will support in making annual cost flow
which will generate income and revenue in effective manner.
Both has some limitation for its use but it can not make account for the time value
money, deflation, hazard, funding or other important consideration. NPV method determines
time value and it will provide different calculations which is used in currency making and also
know the shareholder cost amount. It is main individual technique of measuring profitability.
Sources of Finance growth:
There are various sources of finance for growth and development in the firm. They are
totally related to internal and external factors which are totally related to capital and fund of
company. Firm mainly prefer to invest capital in growing and developing factors. The source of
finance includes equity, debt, retained earnings, term loans,venture funding, etc. Such type of
methods and sources are used in various situations which can be classified on the basis of time
period, control and ownership and their generation sources. This is very effective to evaluating
and monitoring the capital before adopting this. It is the one of the most explorable location and
place which are special for entrepreneurs who are begin their new business. Along with this,
there are different methods and sources of capital that can be divided on the basis of time period.
For evaluating and analysing the finance sources, this is required for understanding al the
characteristics of the financing sources and methods (Moseley, 2013). There are different sources
of finance for growth such as:
 Bank loan
 Crown funding
 Peer to peer lending
 Angel
 Venture finance
Advantage and disadvantage of financial sources: Venture capital
Advantage
◦ Increase high amount of capital in the firm
◦ Choose right direction for expanding business operations and its functions
◦ Help in adopting good and appropriate products and ideas
Disadvantage
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◦ The capitalist of venture is the own section of the company
◦ Sell only once product which is important source of finance that will effect on
expansion process Bank loan-
Advantage
◦ Rapid way for increasing cash amount
◦ Simple and easy step to deal with cash issues (SchetkeHaase and Kötter, 2012).
◦ This is negotiable in nature
◦ Bank provide loan for short as well as long time period to their potential customers
Disadvantage
◦ Some banks were charge very interest rate
◦ Large and lengthy process of bank transaction and withdraw of amount in few banks Crown funding-
Advantage
◦ It is rapid and fast process of taking cash amount
◦ It will adopt various and effective marketing source for enhancing growth and
innovation
◦ Take reviews and feedbacks to customer about improving this source finance
◦ This will get trusted and loyal clients by using this procedures in better manner.
Disadvantage
◦ They have large amount of work for developing interest rate before introducing this
project
◦ Each unsuccessful project directly affect on business goodwill and reputation within
an organisation Peer to peer lending-
Advantage
◦ Firm will maintain risk differentiation for increasing growth and development in
proper manner
◦ Peer to peer provide them access for higher the returns by using high opportunity
saving account
◦ Choose lending for desires and wants which must be fulfil
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◦ This will gives personal saving allowances for earning interest rate
Disadvantage
◦ This is risk full source of finance in which rarely customers will invest money
◦ In this method, there is no exemption on tax amount
◦ This will not provide cash on lending to a person immediately
◦ It is time consuming and lengthy procedures
 Angel-
Advantage
 This will give required capital for start the business operations and functions
 This method has ability to increase capital in small amount value
 Angel investor has provide informal investment funds that will compare with
tradition finance
 This will also enhance risk investment in effective manner
Disadvantage
◦ Develop investment by losing risk investment for more money for the firm
◦ It is very expensive method and lengthy procedures
◦ They are totally deceptive in nature
◦ Active firm involvement will creates major issues or problems among customers
◦ Angle investor have not national identification
TASK 3
P4 Prepare business plan for growth that include financial information and strategic objectives
Talon outdoor firm is the home advertising and media which is based in UK. It has
approx. 84 employees who works for accomplishing desired goals and objectives in effective
manner (Underwood, Francis and Gerber, 2011). This agency will work with partners for
managing and planning certain projects. Its annual turnover rate is less than 2.5 million.
Vision- To grow without affected any customer services, independent suggestion and also
give strategical expertise which is based on both specific and real things.
Mission- To deliver and transfer innovative and unique services which mainly attracts
customers towards adoption of different strategies. Also provide effective communication
channel for increasing growth and development of the firm.
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Business planning is necessary for increasing growth and development activities and
functions. Regular developing business plan will continue achieve the demand and needs of the
customers. This will help in identify growth by using different strategies. The business plan for
growth includes:
 The major marketing purpose and motives of firm which required to accomplishing
desired goals and objectives in proper manner.
 Then evaluate marketing plan and develop effective strategy within given time period
 Should know about operation functions and information which will help in earning
maximum profitability
 Also provide correct and accurate financial data or information which directly affect on
business functions and activities
Present business plan to investor
 First step is to know the business plan and present it in front of investor
 Second step is to prepare presentation which requires to develop different themes that are
best suitable for the firm
 Third is to determine measurement of funds which need to be made by company
 Fourth step is that in which manager will prepare message for impress top management
related to the formal and informal meeting
Aims and objectives – The major aim of this firm is to attracting large number of
customers towards their services and products in market place. For identifying the marketing
strategy this will help in creating effective marketing strategy in better manner.
Operation management – This is necessary for company is to assist them in evaluating
and determining the business operations and its functions in better manner. The firm require to
manage and maintain all such functions which directly impact on business activities and its
major operations.
Financial requirements – It can be clearly stated that capital need to begin the business
and this will help in expanding their business operations in other locations. This should
providing effective details that how the capital will be used, equity, that this will providing the
funding.
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TASK 4
P5 Assess exit or succession options for small business
A owner who suffers from losses and many other difficulties which occurs during
changes and entry of new employees. There are various ways for exit the firm which are as
follows: Succession planning- If a owner of firm will spend lots of amount for growing and sell
ideas for business in open market which can pass to the another person which they will
trust. It is known as succession planning. Closing the business- If any firm is suffering from losses and then they will decide to
close down (Ziari and et. al., 2012). They can close enterprise by different ways such as
sell all assets, clear all debt amount and collect whole money which they earn and exit the
organisation. This act will directly affects on financial and emotional cost of business.
 Selling the business- This is the main decision for taking appropriate decision by the
business owners. Sale of firm due to take correct decision for the welfare of company. It
will increasing their profit and selling amount in proper manner.
Family business provide growth in effectively from increasing development activities and
functions. There are mostly companies which operate and owned their business operations and
activities by family businesses (Planning for growth - creating and using the business plan.
2015). This will give fast growth in UK economy and increasing rate of growth in proper
manner. This business also change in their functioning and activities by generating effective
income or revenue.
CONCLUSION
From the above mentioned report it can be concluded that growth will be required to
survive organisation in the large market place. Business will select various tools and techniques
for identify different opportunities for raise growth and also help in achieving desired goals and
objectives. Competitive advantage which help in increasing growth of Talon outdoor for
acquiring profitability. Competitive advantage is that advantage which provide competitors
advantage by serving different types of products and services to potential customers. The
collaboration directly affects innovation and modification process and also assist in achieving
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desired goals and objectives in effective manner. There are various factors which gives
advantage and disadvantage by using collaboration within an organisation.
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REFERENCES
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Routledge.
Deakin, M. ed., 2013. Smart cities: governing, modelling and analysing the transition.
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Fainstein, S. S. and DeFilippis, J. eds., 2015. Readings in planning theory. John Wiley & Sons.
Books and Journals
Brinckmann, J., Grichnik, D. and Kapsa, D., 2010. Should entrepreneurs plan or just storm the
castle? A meta-analysis on contextual factors impacting the business planning–
performance relationship in small firms. Journal of Business Venturing. 25(1). pp.24-
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Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave
Macmillan.
Burton, P., 2010. Growing pains: The challenges of planning for growth in South East
Queensland. Australian Planner. 47(3). pp.118-125.
Chapin, T. S., 2012. Introduction: from growth controls, to comprehensive planning, to smart
growth: planning's emerging fourth wave. Journal of the American Planning
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Duany, A and et. al., 2011. The smart growth manual.
Durand, C. P and et. al., 2011. A systematic review of built environment factors related to
physical activity and obesity risk: implications for smart growth urban planning.
Obesity Reviews. 12(5).
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Entrepreneurship Theory and Practice. 37(5). pp.1177-1202.
MacLeod, G., 2013. New urbanism/smart growth in the Scottish Highlands: Mobile policies and
post-politics in local development planning. Urban Studies. 50(11), pp.2196-2221.
Mitchelmore, S. and Rowley, J., 2013. Growth and planning strategies within women-led SMEs.
Management Decision. 51(1). pp.83-96.
Moseley, M. J., 2013. Growth Centres in Spatial Planning: Pergamon Urban and Regional
Planning. Elsevier.
Schetke, S., Haase, D. and Kötter, T., 2012. Towards sustainable settlement growth: A new
multi-criteria assessment for implementing environmental targets into strategic urban
planning. Environmental Impact Assessment Review. 32(1). pp.195-210.
Underwood, J. G., Francis, J. and Gerber, L. R., 2011. Incorporating biodiversity conservation
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Ziari, I and et. al., 2012. Integrated distribution systems planning to improve reliability under
load growth. IEEE transactions on Power Delivery. 27(2). pp.757-765.
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Online
Planning for growth - creating and using the business plan. 2015. [Online]. Available through:
<http//www.msaworldwide.com/franchising-resources/articles/planning_for_growth_-
_creating_and_using_the_business_plan>. [Accessed on 9th November 2017].
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