Planning for Growth: Assignment
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Added on 2020-10-22
Planning for Growth: Assignment
Added on 2020-10-22
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PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P 1 Key consideration for identifying growth opportunities.......................................................1P 2 Ansoff growth vector matrix.................................................................................................4LO 2.................................................................................................................................................7P 3 Potential sources of funding..................................................................................................7LO 3.................................................................................................................................................9P 4 Designing Business Plan.......................................................................................................9LO 4...............................................................................................................................................12P 5 Succession Option For Small Business...............................................................................12CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
Illustration IndexIllustration 1: BCG Matrix...............................................................................................................3Illustration 2: Ansoff Growth Vector Matrix...................................................................................5
INTRODUCTIONBusiness plan is considered as backbone for success of business unit. Planning aids inidentifying opportunities of growth and finding risk associated with it. Southern businesstechnologies Ltd is being taken into account for the present study. It is small size private firm thathas fewer employees in the organization. It offers amazing telecommunication services inEngland. The main agenda of entity is to expand its business and increase profitability ofcompany. Current assignment will analysis factors that need to be considered by SME whenevaluating growth opportunities. Furthermore, it will apply Ansoff matrix with reference toSouthern business technologies Ltd and will find opportunities for growth. There are varioussources of funding for small size organization; the report will assess potential sources of funding.In addition, study will discuss benefits and drawback of these sources of finance. It will designbusiness plan by including financial and strategic information for scaling up business. LO 1P 1 Key consideration for identifying growth opportunitiesIt is very important for the manager that to identify that whether business idea of companyis viable or not. In order to examine viability of the enterprise it is essential to consider variouselements that can support in identifying opportunities of growth. Objective of Southern BusinessTechnologies Ltd is to expand their firm and enter into new market (McGuirk, Lenihan and Hart,2015). But first entity will have to ensure that it can work better in new location and it hasnumerous growth options. Key consideration for analysing growth opportunities in the firm areas described below:Capabilities and competencies of the firmIt is another most important part that needs to be considered by Southern BusinessTechnologies Ltd for evaluating growth opportunities. If entity has strong financial position orskilled employees then it would help the organization in improving performance and providingsatisfactory telecommunication services to mass audience (Smith and Brooks, 2018). Cited firmis small size thus, it has limited funds but market research and marketing strategies of thecompany are very strong. With the help if these competencies it can enter into new market andcan gain success significantly. Utilization of resources1
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