Planning for Growth Assignment - (Solution)
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Added on 2020-12-29
Planning for Growth Assignment - (Solution)
Added on 2020-12-29
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PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse key considerations for evaluating growth opportunities..........................................1P2 Apply Ansoff's matrix to evaluate opportunities for growth.................................................4TASK 2............................................................................................................................................5P3 Assess potential sources funding available to business.........................................................5TASK 3............................................................................................................................................6P4 Design a business plan for growth........................................................................................6TASK 4............................................................................................................................................7P5 Assess exit or succession options for small businesses........................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONPlanning for growth is an important concept that plays essential role for small scalebusiness concerns so as to expand their businesses in order to generate higher profits. . It isnecessary that top personnel conduct market research to have information about different marketopportunities, thereby make changes in system (Arku, Yeboah and Nyantakyi-Frimpong, 2016).This report has been framed based on Stone Builder which is small firm providing constructionservices. “replacement roof to listed building” is an important government based contract oragreement in which owners of this company have invested around pound 80000. in assignment,key considerations that are porter's generic, pest and ansoff's matrix to examine growthopportunities is stated. Executive of SME's have shortage of capital for which funding sourcesare assess by them to expand firm. Along this, succession and exit options for small business arealso assessed by business person which is described in the report. TASK 1P1 Analysis regarding key considerations that help in assessing future opportunities.Small scale business entities have large number of possibilities to enlarge business andmarket reach for enhancing sales volume and revenue. It is necessary that an executive haveinformation in respect to competitors to utilise growth opportunities. Porter's generic strategieshelps executive of Stone Builder to construct edge over rivals. Besides this, PEST analysis aidthem to have information about external factors influencing on business. Competitive advantage: Every sector has large number of firms, so it is necessary thattop personnel design system in according to rival companies and market conditions. Along this,they even require to execute business activities to establish appropriate recognition in market.Executive of Stone Builder require to use strategies, which help them to construct edge over rivalfirms to attract large number of customers. For this, porter's generic model is used to haveknowledge about competitive advantage which is stated below: Porter's Generic strategies: Porter's generic model was propounded by ProfessorMichael Porter . He is an economic researcher who has studied about competitive behaviour ofan organisation so that they can further enhance their profits and become successful. This modelis considered by managers of Stone builders for enhancing their long term growth and1
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