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Planning For Growth Opportunities: Doc

   

Added on  2020-10-23

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Planning For Growth

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Key considerations for the evaluation of growth opportunities along with justification inorganisational context.............................................................................................................1P2 Opportunities for growth applying Ansoff's growth vector Matrix.................................4TASK 2............................................................................................................................................5P3 Potential sources of funding available to businesses and benefits and drawbacks of eachsource......................................................................................................................................5TASK 3............................................................................................................................................7P4 Designing A business plan for growth that involves financial information and strategicobjectives................................................................................................................................7TASK 4..........................................................................................................................................10P5 Exit or Succession options for a small business and their benefits and drawbacks. ......10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONPlanning for growth is a strategic business activity which enables owners of business toplan and track the growth in their revenue. Present report is based on analysis of VectairHoldings which are leading technological innovator, manufacturer and supplier of Air-care andhygiene products in number of sectors worldwide. In this report, key considerations for theevaluation of growth opportunities along with the justification in context of Vectair Holdings aregiven. Ansoff's Matrix is applied as well to determine growth opportunities along with potentialsources of funding in organisation. At last, business plan is designed for growth includingfinancial forecast and strategic objectives along with the evaluation of exit or succession optionsfor organisation. TASK 1P1. Key considerations for the evaluation of growth opportunities along with justification inorganisational contextIn order to create an effective succession plan to attain growth, organisation needs toanalyse and identify essential business opportunities which are available to attain the growth(Eddleston and et.al, 2013). There are various essential considerations utilized by small mediumenterprise in order to attain competencies in order to initiate healthy growth in appropriatemanner. In this context, Vectiar Holdings have also used new technologies for innovating theirair care and hygiene products. Vectair Systems offer unique OEM (original EquipmentManufacturing) service allowing companies to design their own style of coordinated wash-roomsproducts and dispensers, using the latest manufacturing technologies from the state of artfacilities (Vectair holdings, 2017). However, analysis of growth opportunities in industry isbeneficial for the organisation to generate high profits and increasing its market share. Some keyconsiderations for the evaluation of growth opportunities are stated as below:Competitive Advantage: It implies to conditions which allow Vectiar Holdings to produce theproducts or services of equal value at lower prices or in more unique design. In this context,company can develop competitive advantage in market by using new technologies and innovateits products to influence customers. Business goals: It is essential that owners should align their business goals with the direction oforganisation as it helps in taking right decisions. In this, Vectair Holdings need to align itsobjective of maximizing profitability and increasing market share with its growth opportunities1

in order to take right decisions (Scarborough, 2016). Employers should consider business goalswhile making plans to implement the changes in products, services and business operations.Environmental Analysis: While evaluating growth opportunities, it is important for employersto analyse the internal and external environmental factors that affect decision of planning forgrowth of business. In the present scenario, PESTLE analysis model is used for analysis ofgrowth opportunities for Vectair Holdings in macro environment.Political: This factor involves the influence of political strategies which affect planningdecisions of company such as increase in tax rates, Brexit and other political disruption(Wu, 2015). Continuous changes in duties and tax rates will provide negative impact onplanning decision of business expansion. However, target of government for providingfunds to SMEs by 2020 provide positive influence on the growth of business. Economical: It determined the implications of economic or monetary policies onbusiness such as interest rates, funding and inflation. However, decrease in interest rateby UK government for the growth of SMEs in economy will help Vectair Holdings ingenerating monetary resources and expansion of business. Along with this, economicpolicy of providing financial support will also provide positive influence on planningdecisions of organisation.Social: Continuous changing demands and preferences of customers in market related tohygiene products need to be considered as by Vectair Holdings as it helps in makingappropriate decisions (Wu, 2015). Further, decision of government to provide contract tocountry's diverse and innovative businesses is considered as an opportunity for VectairHoldings to attain the growth.Technological: Innovation and introduction of new technologies in market are alsoconsidered as the key considerations for Vectair holdings. It has enabled the organisationto manufacture innovative and designer products which help in influencing customersand attaining high profitability in market.Legal: Various legal policies such as resources, imports, exports, transportation andemployment provide influence on the business of SMEs. For instance: changes inemployment and compensation policies by government will tend to raise the labour costof Vectair Holdings and influence their planning decisions. However, free duty exports2

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