Planning for growth assignment : Redesigning Education

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Added on 2020-12-29

Planning for growth assignment : Redesigning Education

Added on 2020-12-29

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PLANNING FOR GROWTH

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key consideration for evaluating opportunity of growth.......................................................1P2 Growth opportunity by applying Ansoff growth matrix........................................................5TASK 2............................................................................................................................................7P3 Potential sources of funding available for business and its advantages and limitations........7TASK 3 ...........................................................................................................................................8P4 Design a business plan...........................................................................................................8TASK 4..........................................................................................................................................10P5 Assess succession or exit options for small enterprise and its merits and demerits............10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

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INTRODUCTIONOrganisation have to make a strategic plan as it is major part of planning for growth. Forthe growth of business it is termed as broadening and magnification within activities andoperations. Main purpose of organisation is to enlarge its enterprise activities within economy formaking higher profits (Eddleston and et. al., 2013). It is important for enterprise to develop aplan related to success and growth of business activities. Redesigning Education is anorganisation operating their business at small scale. They are giving counselling and education tochildren and young people. This company takes context for the aim of bidding. In this report itinvolves key consideration for evaluating growth opportunities. For accomplishing a contracteffectively, company analyse various sources of funds and also its limitations and advantages. Inthis, company also evaluate the growth opportunity by implementing Ansoff growth matrix. TASK 1P1 Key consideration for evaluating opportunity of growthCompanies priority is growth for this they require to make a plan in an systematic mannerfor the growth and success of firm. Growth involve various risks, but executing a right strategycan provide security, long term profits and stability. Redesigning Education is a small scaleorganisation which deals in giving education to children and young people. They provide a newway of learning tools to community and institution centres. Its purpose is to expand enterpriseactivities by adopting new tools of education such as video editing, projector and many more.This will help in capturing large share of market and achieve competitive advantage. For thegrowth of enterprise, it is important for Redesigning Education to analyse the factors of externaland internal as well. In this, it will aid in attracting higher numbers of customers towards thecompany which will improve sales and level of profits. By making plans, Redesigning Educationcan meet its objectives related to several aspects like digital technology, sources of funding andso on. Planning provides better business opportunities concerned to policies and process whichguide employees for their work. Digital technology assist business in order to increase itsproductivity in an systematic way. Implementing digital technology assist in contributingtowards its growth of small enterprises (Mahmoudi and et. al., 2013). Along with this it alsoprovide better opportunity to company for giving advanced services to their customers. Some of1

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growth opportunity which are their for Redesigning Education in order to execute digitaltechnology are given below: Competitive Analysis: In this, Redesigning Education manager have to develop a betterplan for executing digital technology with enterprise to perform all the activities. Everydepartment of this company get benefits of adopting latest technologies. In this term, firms getsan opportunity to enhance their educational services (Valler, Phelps and Wood, 2012). It willassist in attracting higher numbers of buyers towards their organisation. They also getopportunity to use latest techniques of marketing like social media, internet etc. It will be usefulfor Redesigning Education to perform their business activities in an better manner as compare toits rivals. It will help in achieving competitive advantages within market. Porter generic strategy: This strategies is very crucial part for enterprise which isbeneficial for achieving long term success. In this, firm positioned itself by using their strengths.It can be its marketing campaign, trained employees and so on. Michael Porter emphasizesorganisation strength lies in positioning and cost advantage. Porter generic model is implementedby Redesigning Education in order to grab opportunity of latest technology within theireducational system. This model involves four strategies which are: (Source: Porter generic strategy, 2017)2Illustration 1: Porter generic strategy

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