Planning for Growth - Desklib

Planning for growth

Contents
INTRODUCTION...........................................................................................................................3
TASK1.............................................................................................................................................3
P1. Analyse the key consideration for evaluating growth opportunities.....................................3
P2 Ansoff growth matrix.............................................................................................................6
TASK2.............................................................................................................................................8
P3 Assess the potential sources of funding available to businesses............................................8
TASK3.............................................................................................................................................9
P4 Design a business plan............................................................................................................9
TASK 4..........................................................................................................................................13
P5 Explain exit and succession options for small business.......................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16

INTRODUCTION
Planning is defined as the tool that include various business strategies and plans that guide
business to perform defined task in effective manner for the purpose of gaining higher
profitability and productivity objectives. Organisations formulates their own business plans to
gain various market growth and development opportunities as well as expand business in other
business areas. Business develops planning after analysing all internal as well as external factors
that impacts on business performance and functionality (Admiraal and Cornaro, 2016). In this
report the chosen organisation is Marshfield Bakery Limited, headquarter situated in Toll down
Barn, Dyrham, United Kingdom. Around 82 employees are working with organisation and the
organisation deals in bakery products like pastry, cakes, biscuits and other food products. In this
report porter generic model, pestle analyse and Ansoff matrix is discussed that facilitates
business to grow and expand business in another areas. There are various source of funding
along with their benefits and drawbacks are mentioned. Business plan is prepared that consist In
project 2 the business is quite design for better planning growth which include financial
information, business objectives and strategies as well as various exit and succession options are
mentioned in this project report.
TASK1
P1. Analyse the key consideration for evaluating growth opportunities
As in current business environment, the main purpose of business is to gain sustainable
competitive advantages through applying various strategies. These strategies facilitate the
business to overcome barriers, challenges and grab opportunities to expand business in market
place. There are various strategies are adopted by the Marshfield Bakery Limited for the purpose
of gaining all defined goals and objectives. Some strategies that provide various growth and
development opportunities to business are mentioned below:
Porter Generic Model: Porter’s generic model is defined as the framework that how
organisation gain various competitive advantages through utilising appropriate strategies (Fang,
Luan and Sun, 2016). There are three strategies are included in respective model that facilitates
organisation to expand business operations in other areas and well as ensure growth and
development of organisation. all these strategies are defined below:

Cost leadership: The cost leadership is defined aa the strategy in which business provides
product and services at lower prices or at discounted rate in the market for the purpose of gaining
higher market share and high profitability objectives as well as provides competitive advantages
then other competitors. Marshfield Bakery organisation use cost leadership strategy to expand
market share and customer base through providing organisational products and services at lower
price then other competitors with compromising quality. Organisation use various latest
technologies in operations and production to produce products at lower cost and provide them to
customer to gain competitive advantages.
Differentiation focus: Differentiation is the most effective strategy that provides competitive
advantages to organization through providing quality and new featured products in market that
are quite differentiate from other competitors. Marshfield Bakery organisation use innovation
and creativity to provide unique products to customers that attracts them towards brand.
Respective organization publishes various advertisements in market to enhance brand awareness
as well as stand out in the market then other organization (Ghosh and Chifos, 2017). As the
organization provides variety of products in market that are differentiated form other attract
customers and enhance loyalty and provides competitive advantages in market place.
Cost Focus: Cost focus is the most effective strategy that provides various sustainable com-
petitive advantages to the organization through focusing on niche market segment to offer orga-
nizational products and services at minimum range of price. Marshfield Bakery organisation
focus on providing high quality products to customers at reasonable price that facilitates
organisation to achieve the objective of growth and expansion in market.
Differentiation focus: Marshfield Bakery organisation use differentiation strategy in which
organisation provides diversify and differentiated products to specific target segment. The
strategy help business to gain long term success through capturing higher market share and loyal
customers (Gilbert and Gurran, 2018). In this strategy, organization serves to particular market
segment. Marshfield Bakery organisation regularly bring various innovations in their products
quality, designing and packaging to satisfy all customer needs and demands and attaining higher
profitability objective.
As there are various strategies that help businesses to gain sustainable competitive
advantages in market. Marshfield Bakery organisation adopt cost leadership and differentiation