This document discusses the importance of planning for growth in an organization and provides insights into the strategies involved. It also explores exit and succession options for small businesses, highlighting the benefits and drawbacks of each approach.
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Table of Contents Introduction:....................................................................................................................................1 LO 3:...........................................................................................................................................1 P4: Design the business plan that include the financial information and strategies objectives. ................................................................................................................................................1 LO 4:............................................................................................................................................2 P5: Assess exit or succession options for small business explaining the benefits and drawback ................................................................................................................................................2 Conclusion:....................................................................................................................................3 References:.....................................................................................................................................4
Introduction: Planning is essential part of successful organisation as it helps in making effective strategies for the company to achieve the desire results on time. Under this report, the Deloitte company is chosen who provide the professional services such as audit and assurance work and financial advisor.(Daniels and Lapping,2016) LO 3: P4: Design the business plan that include the financial information and strategies objectives. Business plan is the written document which helps in accomplishing the pre-determine goals andobjectives in the appropriates manner. The plan consist of financial statement, marketing strengthening and operational activates as it provide a way to achieve the organisation objectives in the effective manner. The business plan which is followed in the organisation are stated as follows:(Fahlvik, Elfving and Wikström, 2014) Market competition plan:(Rydin, 2013) Porter’s five forces is a model used to identify and analyzes competitive forces that can influence the industry and grow their business ton next levels. It is also known as competitive strategy as it helps in identifying the competition in the environment and earn the profits in the long run . the porter’s five forces are discussed as follows: The threat of new entrance: under this force, the companies faces difficult from the new entraqnce in the market as these new organisation can take its existing customer by providing goods and services. Power of suppliers:if their are few number of the suppliers of product in the market then they will have a power to charge high price from the customer. Power of buyers: under this condition, their are large number of buyer in the market and lesser number of the seller, so the power goes in the hands of the buyer to bargain in the price of the goods. Substitute goods: under this condition , their are substitute good present in the market , if the price of the main goods goes up in the market then customer switch to substitute goods foe their goods. Competitive rivalry: there are huge competition in the market within the same industry which effect the profits of the company in the long run. Market Analysis plan: STP analysis:This act as tool, which is used by the marketing department to reach out the target market place. This helps company by providing a proper guidance to meets the needs and wants of the customer from time to time.(Rydin, 2013) Segmentation:here the company tries to divide the whole market into different groups and segments which are made on the bases of different needs and wants of the customer. The 1
company divide its market on the base of demographic, geographical of the customer and tries to fulfil their demands and earn the profits in lieu of services.(Leick and Lang 2018) Targeting:The company has to focus on particular sections of the target market and satisfied the customer by giving them goods and services which they needs to have. This also help in achieving the higher numbers of market shares.(Mosher, and Alhusen, J.L., 2017( Positioning:Under this situation, the organisation focus on making their present feel in the market and make brand images in the eyes of the clients. The SME company provide the different type of product as compared to the another competitive in the market place. Financial projection:the company needs to make a effective projection of the financial requirement in the organisation so that all the function in the organisation are performed easily and smoothing manner.( Lu and Yu, 2014) Investment schemes:under this situation, the company aim is to invest in various schemes so that they can expand their business operation at the different location and grow their business to next best possible ways. The company are taking place of the investors to provide funds to running the business operations in the long run and take control over their market. (Suomalainen. and Xu, 2016.) Finding the investors:the company after making the effective business plan tries to find out the good investors who will provide the fund for the making various progress in the market. The companies needs their investor to provide fund for the business plan and make effect use of available resource.(Wu Zhang and Wang, 2015) Business plan:: Objective: Mission and vision: Decision- making (Bergström Lindegarth, and Lindegarth., 2015) Departments: Financial outcomes: Marketing mix To achieve the goals and objectives of the organisation and earn the profits in lieu of product and services. To provide consulting and advisory solution to the client and builds the brand image in the market. The top senior manager have to make the top decision making for the organisation. The organisation has to operates in different department for effective results. The company has to enhance their financial outcomes by 2025 by 25% increasing the market share in the target segments. The company have to follows the marketing mix in their polices so that product can be given to the customer on time. Sales and marketing plan: 2
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The promotion of goods and services in the target market helps in placing the product at the right market so that company can make profits out the performing various different activities in the market. The organisation uses Niche market strategies as it is subset of the market under which focus in given on the specific product features which are the needs and wants of teh customer and such product are available at different process in the market.)(Berkowitz, 2016). Ownership and management plan: under this plan, the company tries to give the ownership to the manager and leader of the organisation as it helps in managing the team in the effective ways. The manager gives some rights to exulted their task in the most effective ways. (Hu, 2016) Operating plan:under this plan, the manager follows set procedures to completing the task in the most effective ways. Here how the task is going to be performed are stated by the manager. various types methods are used such as Gnatt chart, which divide each activities into small units which helps in finishing the task in the effective ways.(Hoch, , 2017) Financial plan:here the financial requirement are discussed by the senior level of the organisation. Various type of financial statement are prepared in the management team for the betterment of the company. The company can make cash flow statement which shows the cash in flow and out flows from the operational activities and investment and financial task. And company also make the balance sheet to show the present stage of the performance of the company and it also evaluate the assets and liabilities of the company as on the present date. The format of the cash flow statement are shown as below:(Medeiros, 2017) 3
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LO 4: P5: Assess exit or succession options for small business explaining the benefits and drawback In the work environment, there are various type of methods which company can use to exit the market or succession plan of action. The small enterprise are suggested to use the succession plan to expand their business to the next stage.(Lambert and Oatley, 2017 Success and failure:The organisation can exist the market if they are successful completed their business operations andhave earn the desire profits by satisfying the needs and wants if its customer. Another point is that,the company exist the market when they have failed to meets the basic needs and wants of its client and have faced looses in market. The organisation have internal as well as external factors which can be reason for the failure of the organisation.(Daniels, T. and Lapping, M., 2016. ) The company work in the complex environment which makes difficult for the organisation to survive in such condition.Some of ways to exist the business environment are stated as below: Winding up:under this conditions, the company when making losses in its business operations then the shareholder decides to wind up the business. Under this process, the assets are liquidatedand liabilities are paid off and written off the books of accounts. Benefits: the benefits of the such method is that this procedures are followed in the legal manner which lead to easy and fast process to wind up the activities of the business. Drawbacks:this process take lot of time of wind up all the activities in the proper manner. Sometime the company also hire the liquidator to finish the task in impressive ways and in time period.( GoLambert, and Oatley,, 2017 Merger and Acquisition:under this process, the company go the merger and acquisition method to exist the market place. This method is used by the number of enterprise to have larger number of share in the market. Benefit :this process helps in increasing the value of the company in the target market. It also uses the new techniques to dissolve the business operations in the effectual manner . Drawback:sometimes it lead to arise to conflict among the members of the company as their shares are revalued while having merger and acquisition in the company. It also uses the new techniques to dissolve the business operations in the effectual work environment.(Park, and LaFrombois, 2019) Family business:The family business grows in the market as they are handle by the members of the family and they are owner of their business activities and profits are shared with the family member and they further invest their business. They pass on the ownership from senior member to next junior child so that their business is continues in the market. Conclusion: As per the above,discussion, it can be stated that business plan is the document which lead the organisation to achieve their goals and objectives in the proper manner and the organisation chosen different type of methods to liquidates their business operations in the 5
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market if they are not making enough profits according to plan or they successful completed their part of work and share their part of profits and loss in the market. References: Books and journals: Daniels, T. and Lapping, M., 2016. Land preservation: An essential ingredient in smart growth. In Growth Management and Public Land Acquisition (pp. 23-48). Routledge. Eckaus, R. S. and Parikh, K .S., 1968. Planning for growth: multisectoral, intertemporal models applied to India. MIT Press Books. 1. Fahlvik, N., Elfving, B. and Wikström, P., 2014. Evaluation of growth functions used in the Swedish Forest Planning System Heureka. Silva Fennica.48(2), p.1013. Hu, R., 2016. Planning for growth: Urban and regional planning in China. Leick, B. and Lang, T., 2018. Re-thinking non-core regions: planning strategies and practices beyond growth. Lu, S. and Yu, S., 2014. A fuzzy k-coverage approach for RFID network planning using plant growth simulation algorithm. Journal of Network and Computer Applications.39.pp.280-291. Mazzarol, T., Reboud, S. and Soutar, G.N., 2009. Strategic planning in growth oriented small firms. International Journal of Entrepreneurial Behavior & Research. Ryder, B.A., 1995. Greenway planning and growth management: partners in conservation?. Landscape and Urban Planning. 33(1-3), pp.417-432. Rydin, Y., 2013. The future of planning: Beyond growth dependence. Policy Press. Siedentop, S., Fina, S. and Krehl, A., 2016. Greenbelts in Germany's regional plans—An effective growth management policy?. Landscape and Urban Planning. 145, pp.71-82. Hu, R., 2016. Planning for growth: Urban and regional planning in China. Lambert, C. and Oatley, N., 2017. Governance, institutional capacity and planning for growth. InUrban Governance, Institutional Capacity and Social Milieux(pp. 125-141). Routledge. Lambert, C. and Oatley, N., 2017. Governance, institutional capacity and planning for growth. InUrban Governance, Institutional Capacity and Social Milieux(pp. 125-141). Routledge. Park, Y. and LaFrombois, M.E.H., 2019. Planning for growth in depopulating cities: An analysis of population projections and population change in depopulating and populating US cities.Cities,90, pp.237-248. Daniels, T. and Lapping, M., 2016. Land preservation: An essential ingredient in smart growth. InGrowth Management and Public Land Acquisition(pp. 23-48). Routledge. Bergström, P., Lindegarth, S. and Lindegarth, M., 2015. Modeling and predicting the growth of the mussel, Mytilus edulis: implications for planning of aquaculture and eutrophication mitigation.Ecology and evolution,5(24), pp.5920-5933. Berkowitz, S., 2016. The facial growth pattern and the amount of palatal bone deficiency relative to cleft size should be considered in treatment planning.Plastic and Reconstructive Surgery Global Open,4(5). Hoch, C., 2017. Neo-Pragmatist Planning Theory. InThe Routledge Handbook of Planning Theory(pp. 118-129). Routledge. Medeiros, E., 2017. From smart growth to European spatial planning: a new paradigm for EU cohesion policy post-2020.European Planning Studies,25(10), pp.1856-1875. 6
Ward, J., 2016.Keeping the family business healthy: How to plan for continuing growth, profitability, and family leadership. Springer. Suomalainen, T. and Xu, Y., 2016. Continuous planning through the three horizons of growth.International Journal of Agile Systems and Management,9(4), pp.269-291. Wu, F., Zhang, F. and Wang, Z., 2015. Planning China’s Future: How planners contribute to growth and development.London, Royal Town Planning Institute. Mosher, W., Bloom, T., Hughes, R., Horton, L., Mojtabai, R. and Alhusen, J.L., 2017. Disparities in receipt of family planning services by disability status: new estimates from the National Survey of Family Growth.Disability and health journal,10(3), pp.394-399. Krasich, M., 2015, January. Modeling of sw reliability in early design with planning and measurement of its reliability growth. In2015 Annual Reliability and Maintainability Symposium (RAMS)(pp. 1-6). IEEE. (Daniels and Lapping,2016)(Fahlvik, Elfving and Wikström, 2014)(Hu,2016)(Leick and Lang 2018)( Lu and Yu, 2014)(Rydin, 2013) (Hu, 2016) (Lambert and Oatley, 2017)( Go Lambert, and Oatley,, 2017 (Park, and LaFrombois, 2019) (Daniels, T. and Lapping, M., 2016. ) (Bergström Lindegarth, and Lindegarth., 2015)(Berkowitz, 2016. )(Hoch, , 2017)(Medeiros, 2017)(Suomalainen. and Xu, 2016. )(Wu Zhang and Wang, 2015)(Mosher, and Alhusen, J.L., 2017(Krasich, 2015) 7