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Planning For Growth - Assignment

   

Added on  2021-01-02

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PLANNING FOR GROWTH

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities and justify these considerations 1P2 Opportunity for growth by using Ansoff matrix...............................................................4TASK 2............................................................................................................................................6P3 Potential sources of funding for organisation..................................................................6TASK 3............................................................................................................................................8P4 Business plan for growth...................................................................................................8TASK 4..........................................................................................................................................10P5 Exit and succession strategy for small business..............................................................10CONCLUSION..............................................................................................................................12REFERENCES .............................................................................................................................13

INTRODUCTIONPlanning for growth is considered as the strategic activity which helps the firm indeveloping its business for growth purpose. In this top management of the organisation preparesguidelines for the manager which is required to followed by whole staff along with the businessmanager. It helps the organisation in achieving its business goals and objective in given period oftime in effective manner. This given report is based on the Quantum technology (Albert, 2017).It is the small enterprise which offers its marketing based services to the technologicalcompanies. In this report, Ansoff matrix is elaborated with its different strategies that are helpfulfor the company its growth. In addition to this, various potential sources of funding areelaborated with their advantages and disadvantages. At the end, this report is going to develop abusiness plan for growth which will enhance growth rate of the small firms (Albert, 2017).TASK 1P1 Key considerations for evaluating growth opportunities and justify these considerations A company can grow through capturing the opportunities but it needs to plan accordingto the the present state and future expectations that tells it what efforts are needed put in orderto explore the growth opportunities. An effective planning plays an important role to to reachout towards the goals and objectives. Quantum Technology Marketing is a company which hasestablished to provide marketing services for technology companies. The firm came in inceptionas a small scale organization but it can attain the success with the planning that maximizesprofit. There are some key considerations that can be focused to attain the growth of thebusiness and competitive advantage as well. An organization can grow with the expansion of itsservices in other countries where it seeks the opportunities. It can can be elaborated as - Resource – To attain the objective it should be determine that the firm have appropriateassets. Because resources are the major requirement of the business which are needed toaccomplish the task. As the Quantum Technology Marketing requires the funds that is essentialto organize the marketing campaigns, through the promotional webinars. It also requires staffwhich assist to attain the objectives and goals (Allmendinger and Haughton, 2012). Capabilities and core competences –A company should analyse the capabilities of itsemployees and other resources such as the investors. The workers and financiers are the majorresources of an organization and it is essential to know that what are their abilities that can1

assist them to explore in the new market. For an example, investors are required to expand innew country and therefore a company needs to embrace the amount to launch a business. Thefunds should be available to the Quantum Technology Marketing to explore in the market and tooperate in the new area because the insufficient money can hold the firms operations andfunctions . This can create obstacles in the processing of a company. Hence, it will be good forthe Quantum Technology Marketing to embrace the resources whether they are employees whowill carry out activities or the investors which provides funds to attain the goals and objectives.The firm should also know the competition because it needs to focus on strength andimprovement area where expansion can be done to attain the competitive advantage (Barbourand Deakin, 2012). Porter Generic Strategy Porter generic Strategy is used to recognise the area in the competition market toperform better from the rivals. This models specifies the direction where Quantum TechnologyMarketing can move to achieve the goals. Cost leadership –Cost leadership can be define in the broad segment that attains the costadvantage for the products and services. Because Quantum Technology Marketing can offer itservices at the lowest prices to sustain in the market towards that the customer attracts can easilyattract towards that. To attain the competitive advantage the firm can easily reduce the cost of theservices. Differentiation strategies – It is also based on broad segments as it is concentrated on toachieve the customer in wide perspective. Quantum Technology Marketing can opt fordifferentiation strategy which provides products and services with some additional featureswhich makes the product distinct from the rivals. For an example, if the company is offering themarketing services to other companies then it can offer content with the SEO that makes the theproduct different from others. As it is not offering by the competitors and that is good for thecompany because it is offering the additional attributes which can attract to more customers thatwanted to purchase for the special services. The customer can also pay the premium price for thisextraordinary features. The differentiation strategy states the product should be different from the existing products ofthe competitors . If the firm is delivering such features then customers can pay the premium pricefor the services. 2

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