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Planning for growth

   

Added on  2021-01-02

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Planning for growth

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities..................................................1P2 Opportunities for growth applying Ansoff’s growth vector matrix..................................4TASK 2............................................................................................................................................5P3 Sources of funding for organisation..................................................................................5P4 Design a business plan for growth....................................................................................7TASK 4..........................................................................................................................................11P5 Assess succession or exit options for small enterprise with its advantages anddisadvantages........................................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14.......................................................................................................................................................14

INTRODUCTIONPlanning for growth refers to the strategic activity that helps the organisation to plan forrevenue generation for the business growth. It works as the guidelines for the business managerto influence its employees or team mates in order to achieve organisational goals and objective.For effective planning for growth, it is required by the manager to evaluate all the external andinternal factors which have influence over business growth. Planning for growth involves variousfactors like profits, employees, sales turnover, external and internal market environment etc. Thisreport is based on Quantum Technology Marketing Group Limited (Albert, 2017). This companyis providing advertisement and marketing services for IT sector such as digital services,advertisement, promotional events for companies. In this report, several option for growthopportunities are evaluated with the motive of achieving organisational objectives. Differentsources of funding available for the organisation with their positive and negative impact areevaluated to opt suitable option. Apart from this, effective business plan is formulated in order toprovide appropriated strategies which are essential for growth in this advertisement agency. TASK 1P1 Key considerations for evaluating growth opportunitiesBusiness environment is very dynamic as it is influenced by the external and internalfactors. Every business is started with the motive of running it for long term. It is theresponsibility of manager to evaluate the market place as well as internal team to identify thefuture growth opportunity. In addition to this, manager have to formulate appropriate strategiesfor the business to overcome the future problems and asses the future availability of the businessgrowth. For better and effective result, it is necessary to implement these strategy and also utilisethe resources properly in order to achieve desired growth (Barbour and Deakin, 2012). In contextto Quantum Technology Marketing Group Limited, two different tactics are described below inorder to identify opportunities for growth.Competitive analysis: This is termed as the essential part of the marketing plan as it helpsthe manager in identifying their own positive and unique side of the product which differentiatethem from the competitors. In relation to Quantum Technology Marketing Group Limited GroupLimited, this firm have opted porters generic strategy to analyse the external competitors as wellas internal environment like skills and ability of employees, availability of resources at1

workplace. This strategy also guides the manager that how employees can be utilised to captureand utilise market growth options. Management team of this enterprise have to evaluate externalrivals and their internal strengths as well as weaknesses and create the business plan for growthaccordingly as per the required priorities. Competitive analysis supports the business to achievetheir required business goals and objective and provides the options and methods to overcomethe upcoming business problems (Beatley, 2014). Business environment is dynamic in nature soits business model can be changed according to the changing competitors and their impact onhome business.Porter's Generic Models: This model helps the organisation to know their financialposition that whether it is growing or decreasing with effect of external and internalenvironment. In context to Quantum Technology Marketing Group Limited,, this model supportsthe manager in identify the alternative options which can be used to capturing external targetedmarket place and utilise growth opportunity. Cost leadership: It is the strategy of increasing profit generation by reducing the price ofproduct to capture more number of customers. Quantum Technology Marketing Group haveused this strategy in order to improve their profit ratio and increase market share with thenominal range of profit margin. The firm offers several type of discounts to its customers tocompete the competitors with motive of leading the market as well as customer’s attention forlong period. Differentiation leadership: This strategy involves the changing and updating of theinternal business environment in terms of modifying the products and services to make themunique and differentiate it from the rivals. Quantum Technology Marketing Group Limited isusing latest technology and unique methods of marketing for spreading the information of clientmore effectively (Chen and et. al., 2014). It emphasizes on brand image directing improvementin features and modification in product as well as services. Cost focus: This strategy emphasize on the targeted market and requirement of thecustomers both. Manager of the Quantum Technology Marketing Group Limited focus onproving the marketing services to the customer as per their needs and wants at low cost.Marketing services are uniquely designed by company to attract more number of clients. Differentiation focus: This strategy concentrates on the specific buyer or the targetedgroup. In context to Quantum Technology Group Limited, marketing services are made with the2

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