Planning for Growth Assignment : Crossroads Garage
Added on 2021-02-19
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Planning for Growth
Table of Contents1. INTRODUCTION.......................................................................................................................12. EXECUTIVE SUMMERY .........................................................................................................13. Key consideration for evaluating growth opportunity.................................................................13.1 Porter's Generic Strategies.....................................................................................................23.2 PESTEL Analysis..................................................................................................................33.3 Evaluate the growth opportunity by applying Ansoff's model..............................................54. Source of funding which available for the business along with its advantage or disadvantage. .64.1 Internal source of finance.......................................................................................................64.2 External source of finance.....................................................................................................75. Develop a business plan which include the financial as well as strategic information...............85.1 Executive summary ...............................................................................................................95.2 STP Analysis..........................................................................................................................95.3 Financial information...........................................................................................................106. Evaluate the exit or succession option for the small size organization and explain their benefits& drawback....................................................................................................................................116.1 Liquidation...........................................................................................................................116.2 Sale of Business...................................................................................................................116.3 Merger & acquisition...........................................................................................................12CONCLUSION..............................................................................................................................12RECOMMENDATION.................................................................................................................12REFERENCES..............................................................................................................................13
1. INTRODUCTIONPlanning for growth is the strategic concept where organisation develop various plans forthe future growth which helps in providing huge market share. Along with this, it increase theproductivity or profitability of the company. Organization has to develop business plan in orderto follow the step by step activity. With the help of this, management get the clear picture of theirdaily activities and make them able to to complete their task in appropriate manner. Businessplan is important because it also include the source of funding. Crossroads Garage (Oxfordshire)selected for the better understanding of this concept1. It is car dealership company which is smallenterprises and it has 34 employees sales in the 2011 was 7.47 cr. This report covers the various topics such as growth opportunity and justify theconsideration within organizational context. Evaluate the opportunity by applying Ansoff'sModel and identify the source of funding which available for the business. In addition, itincludes the business plan which contain financial or strategic information and assess the exit &succession option for the small business along with its benefits or drawbacks.2. EXECUTIVE SUMMERY It has been summarised that, this report contain the key consideration for the futuregrowth opportunity which include the Porter's generic or PESTEL analysis. Evaluate the growthwith the help of Ansoff's model which help the organization to take strategic decision. Inaddition, it includes the source of funding, business plan and exit or succession option for theorganization. 3. Key consideration for evaluating growth opportunityOrganization have to develop effective strategy which help business to achievecompetitive advantage in comparison to their competitors and their products & services. Anorganization can achieve competitive advantage after applying porter generic strategy. It willprovide the scope for the business extend their activities and functions which provide the growthor further opportunities. Management of the business need to develop effective strategy wherethey have to understand their customer, strength of the company, analyse their competitors andtheir activities and hire skilled people for the essential information. After analysing all the aspect,organization able to gain competitive advantage and grab the opportunities. Further analysis will1Abolhasani, S., and et.al., 2016.
be done with the help of Porter generic business model. This strategic model help theorganization to seek competitive advantage and it is mentioned below: 3.1 Porter's Generic StrategiesIt is the strategic business model which help the organization to gain competitiveadvantage in the target market. It include the three different types of strategy which provide theopportunity for the growth. So Crossroads Garage use this strategic model for the competitiveadvantage and it is discussed below: Cost leadership: Under this strategy, business produce lower cost product which help theorganization in order to achieve their goals & objectives. With the help of this strategy,organization set the lower cost which is cost effective and selling price of the product also low incomparison to others. It will increase the demand which generate the productivity as well asprofitability2. Manager of Crossroads Garage should apply this strategy to increase the demandof car and its related services. With the help of this, organization able to achieve competitiveadvantage or gain the opportunity. 2Batty, M. and Marshall, S., 2012.
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