Assignment on Planning for Growth - NISA
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Added on 2020-07-22
Assignment on Planning for Growth - NISA
Added on 2020-07-22
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Planning for Growth
TABLE OF CONTENTSINTRODUCTION......................................................................................................................1P1 Presenting key aspects that firm need to consider while making evaluation of growthopportunities...........................................................................................................................1P2 Analyzing growth opportunities by applying Ansoff Vector matrix................................2P3 Identifying potential sources of funding that can be used by business organization formeeting financial requirement................................................................................................4P4 Designing a business plan for growth...............................................................................6P5 Assessing succession or exit options in the context of small business unit......................9CONCLUSION........................................................................................................................11REFERENCES.........................................................................................................................13
INTRODUCTIONIn the dynamic business arena, growth and success of the firm is highly dependent onstrategic planning. Moreover, without having competent plan business organization is not inposition to gain competitive edge over others. Now, use of digital technology is increasingwith the very high pace in every whether it is retail or other. For attracting customers nowbusiness units lay high level of emphasis on placing advertisement on social networking sites.Besides this, in the present times trend towards online shopping and retailing is also increasedsignificantly. This aspect shows that use of digital technology becomes important for theattainment of organizational goals and objectives. For this project report, NISA retail store,small sized organization, has been selected that offers grocery products or services to thecustomers. In this, report will provide deeper insight about the manner and tools that can beused for the evaluation of growth opportunities. Besides this, report will also shed light on thesources through which NISA can generate funds and execute business plan.P1 Presenting key aspects that firm need to consider while making evaluation of growthopportunitiesFor getting success and gaining competitive position over others NISA is required tocapitalize growth opportunities. Use of digital technology is immense now a day’s which inturn helps business in attaining goals. Considering the significance of digitalization, firm isplacing emphasis on and planning in relation to carry out online business as well. In thisregard, before grabbing opportunities manager of the business unit should evaluate thefollowing aspects such as:Financial viability: The main motive of firm behind investing money into potentialopportunities is to earn high returns. Thus, before making investment owner of NISAshould conduct financial evaluation to assess whether proposed investment option willoffer suitable returns or not. Thus, by keeping in mind the outcome of cash flowanalysis and outcome of investment appraisal such retail store should select proposal(Gielnik, Zacher and Schmitt, 2017). Thus, NISA should take decision in relation tostarting online store after making assessment of monetary aspects. Legal aspects: For carry out activities smoothly, NISA needs to comply with the lawsand legislation. Brand image of the firm is negatively affected when it fails to complywith the legal framework. Hence, for offering services through the online means firm
requires licence and obliged to fulfil other legal formalities (Ward, 2016). Thus, afterevaluating legal arrangement firm should select growth option. Competitive advantage or growth potential: Building and sustaining competitiveposition over others is one of the main motives of firm. Thus, while makingevaluation and selection of opportunities NISA should evaluate the competitor’sofferings as well as position (Revoltella and et.al., 2016). Moreover, in thecompetitive business arena, firm can attain success only when it provides customerswith innovative products and service. Merger, acquisition and franchise arrangement: All such three elements are highlyassociated with the growth of business organization. Merger, acquisition and franchiseenables firm to expand business operations and serve large number of customers(Keller, 2017). In this regard, NISA needs o focus on doing cost-benefit analysiswhich in turn presents the fair view of growth option. On the basis of such aspect,firm should select the option when benefits offered by the concerned opportunities arehigher than the cost. P2 Analyzing growth opportunities by applying Ansoff Vector matrix Ansoff matrix: This tool of marketing panning is highly effectual that assists businessunit in determining both product and market growth strategy. Market penetration,diversification, product and market development are the main four elements of Ansoff matrixwhich helps company in developing strategic framework. Ansoff matrix offers suggestion tothe business organization whether it should focus on existing product and market or the newone. In other words, it can be said that Ansoff matrix tool helps in devising strategies for thefuture growth and success to a great extent.
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