Planning For Growth: Assignment Solution

   

Added on  2020-12-29

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Planning For Growth
Planning For Growth: Assignment Solution_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 KAnalyse key considerations for evaluating growth opportunities..................................1P2 Apply Ansoff's matrix to evaluate opportunities for growth............................................4TASK 2............................................................................................................................................6P3 Assess potential sources funding available to business....................................................6TASK 3............................................................................................................................................7P4 Design a business plan for growth ...................................................................................7TASK 4............................................................................................................................................9P5 Assess exit or succession options for small businesses.....................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
Planning For Growth: Assignment Solution_2
Planning For Growth: Assignment Solution_3
INTRODUCTIONPlanning for growth is strategic business process which consists essential part in smallorganisation. For this, it is businessperson's responsibility to identify growth options to makechanges in system utilising business opportunities and threats (Wu, 2011). Present report is basedon Green Nursery which is small company that sell plants, shrubs and trees to people. Companyis making bid of £200,000 in government contract that is “Provision of plants, shrubs and trees”.This assignment specifies key considerations that are porter's generic, Ansoff's model and otherfor evaluating growth opportunities.. For this, potential sources of funding are assessed bymanagement to arrange money for their firm. Business plan for growth, exit and successionoptions are assessed by small business which is mentioned in report. TASK 1P1 Key considerations for evaluating growth opportunitiesSmall and medium firms require to increase their customer base to enhance sales andprofitability. For this, top personnel conduct market survey to gain knowledge about differentgrowth opportunities. Along this, they even execute analysis in respect to competitive positionand external market conditions. Executive of Green Nursery uses porter's generic strategy to gainknowledge about competitiveness of company. Besides this, PEST analysis technique can beoptimised to help them in formulation of strategies and design system in according to outsidefactors. Competitive analysis: This is an important element of corporate strategy which help topauthorities to analyse strengths and weaknesses of potential and present rival firms. It is essentialthat opportunities and threats are acknowledged by top personnel (Keough, 2015). GreenNursery is a small firm so entrepreneur require to have information about its competitive positionin marketplace. For this, Porter's generic strategy is used which is stated as below: Porter's generic strategy: This model was developed by Michael Porter which definecompetitive advantage to position higher in market. In order to understand distinct resources andanalyse competitive edge of organisation, this is more appropriate techniques that can be used bycompany. Lower cost, differentiation and focus are key strategies which every enterprise have toenhance their sales and revenue. Thus, here are applied different strategies in organisation soexecutive can choose to enlarge business are stated below: 1
Planning For Growth: Assignment Solution_4

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