Planning for Growth

Planning for growth

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Examining different growth opportunities........................................................................3
PESTEL Analysis:...........................................................................................................................4
P2 Determining growth opportunity by applying ANSOFF matrix.......................................5
TASK 2............................................................................................................................................7
Covered in ppt........................................................................................................................7
TASK 3............................................................................................................................................7
Covered in ppt........................................................................................................................7
TASK 4............................................................................................................................................7
P5 Assessing succession and exit alternative for small businesses with their advantages &
drawbacks...............................................................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Planning for growth refers to where firm carry out certain activities and goals with
motive expanding business by using plans and strategies. Every organisation need growth in
business to continue the management activities and operations. Planning for growth is necessary
to achieve the desired objectives and goals. Ella's kitchen headquartered in UK which deals in
nutrition baby foods and products (Biddle and Taylor, 2018). This report includes growth
opportunities and various source of funds and a business plan which depicts overall development
of business. Small business is dynamic in nature which can start and shut down any time so,
growth is important to plan.
TASK 1
P1 Examining different growth opportunities
Market is wide and is expanding at rapid level. So, it is crucial for business to analyse the
opportunities and alternatives available in market. Analysing of market situation assist in
identifying competitors and rivals in market. Also, growth opportunities are dynamic in nature
which they can be used by anyone who has eye on target market. So, to determine the growth
opportunities porter’s generic strategies is mentioned below-
Cost leadership- Cost leadership is strategy which states that operation and products
should be at lower cost to gain the market share. This strategy is effective and non-effective too.
Because Lowering the cost from competitors might lead to losing of market share. In context to
Ella's kitchen as their business is small and it is at developing stage they can use this strategy as
tool to acquire more customers (Colantoni and et. al., 2016).
Differentiation Focus- This is the another strategy which is used in business to gain
profit. In differentiation focus, firm try to become unique and different from its competitors. This
strategy assists in developing more opportunities for business as company adopt different
specifications and qualities in their services as well as products. Ella's kitchen uses this strategy
so that its customers will be attracted towards offers and new market can be acquired.
Focus- After the above mentioned strategy, later comes the focus strategy in which either
firm use differentiation or cost leadership strategy. It depends on market activities and firm
decision making process to adopt which types of strategy. In relation with Ella's kitchen entity
can use differentiation focus strategy because they have to be unique from their rivals then only