Planning for Growth Assignment Sample
Added on 2020-10-05
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities..................................................1P2 Evaluation of growth opportunities by applying Ansoff’s growth Vector Matrix............3TASK 2............................................................................................................................................5P3 Potential sources of funding with their benefits and disadvantages..................................5TASK 3............................................................................................................................................6P4 Business plan for growth of business................................................................................6TASK 4............................................................................................................................................8P5. Exit and succession plan of a small business enterprises.................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONPlanning for growth means framing strategies for growth of association. In these days’changes are taking place in business environment very frequently, so accordingly policies has tobe altered. Business can be grow with the help of proper implementation of strategies, analysis ofmarket, etc. this helps to alter business plans and policies. In order to grow business, changeshave to be analysed which helps in getting positive results (Arzaghi and et. al., 2017). This reportis based on small business enterprise Southern Business Technologies which deals intelecommunication sector. They are thinking to launch broadband in Europe. They enter intocontract “Care technology diagnostic review” in order to raise funds for business expansion. Inthis report there is discussion about key consideration for growth of SME, various methods offunding, business plan and lastly, exit and succession policies. TASK 1P1 Key considerations for evaluating growth opportunities Growth opportunities are more for small scale business. It is essential to analyse themand then actions have to be taken. It is responsibility of managers to access market and then goodmeasure has to be taken for growth. Southern Business Technologies deals in telecommunicationsector, there is much competition in this sector. Hence in order to expand business market studyis necessary. Southern Business Technologies are thinking to launch broadband services inEurope, so they have to research related consumer demand, competitor's policies, governmentpolicies, etc. This helps to coop- up with changes and business can be explore in appropriatemanner (Batabyal and Nijkamp, 2014). There is requirement of marketing of service launch inEurope which helps to increase brand image of Southern Business Technologies. There isrequirement of changes according to market trends, in order to compete with competitors. Porter Generic Model is one of the best approach to analyse competition in industry. Thishelps to frame policies according to market trends and compete in industry. This helps tomaintain good profitability in long run market. It is essential to know changes required intechniques, so it ease in communication. This also helps in improve quality of services. In orderto enter new market, study of external factors is essential. Porter Generic Model performed bymanagers of Southern Business Technologies is as under- Cost Leadership: Cost leadership means policies which helps to set lowest cost inindustry. This helps to achieve economies of scale and resources are used in optimal way. This1
helps to attract consumers and make good and long term relations with them. If SouthernBusiness Technologies is able to achieve cost leadership, then they will be good performers inindustry and able to make expand business. Differentiation: According to this features, managers of Southern BusinessTechnologies must come with approaches which deliveries something different in market. Thishelps to make unique image in industry (Coale and Hoover, 2015). Differentiation helps to makedifferent image in industry and builds confidence among consumers. Cost Focus: As per this element main objective of managers of Southern BusinessTechnologies must be cost effectiveness. They must provide services at cost which gives fullvalue of money. Consumer must be ready to pay money and get full return. This helps tomaintain good image in industry and increases consumer base. Differentiation Focus: Differentiation focus talks about some difference according todemand, purchasing power, income. This helps consumer to get every kind of services and thereis variety of consumer. Apart from this Southern Business Technologies must focus on targetedconsumer. This helps to give good quality services to consumers and hence they prefer particularbrand. From the above discussed strategies differentiation focus is best because these days, thereis people prefer to avail services which are new and trendy in market. Southern BusinessTechnologies operates in telecommunication sector, so if they accept new changes and accept itto their working style, then this is beneficial for growth in industry. Apart from competition among rivalries there are some external factors also which affectsbusiness expansion and growth. Managers of Southern Business Technologies has to alter theirpolicies in order to balance with those factors. These factors include change in governmentpolicies, alteration in demand of consumers, etc. These are not in control of managers so theyhave to modify organisational policies. These factors can be studied with PESTLE analysis.PESTLE Analysis:- It refers to a strategical tool which is used to assess various threats and opportunities thatare present in market and may affect the business operations. Following are factors that areconsider in PESTLE analysis:Political:-These factors includes changes that are brought by government or politicalinstitution which have a direct impact over the business operations. Political system of2
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