(PDF) Planning for growth | Assignment
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PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Analyse key consideration for evaluating growth opportunities...........................................3P2 Evaluate the opportunities for growth by applying Ansoff's growth vector matrix..............5M1....................................................................................................................................................7D1.....................................................................................................................................................7TASK 2............................................................................................................................................7P3 Sources of funding available for companies with its advantages and disadvantages............7M2..................................................................................................................................................10D2...................................................................................................................................................10TASK 3..........................................................................................................................................10P4 Business plan for growth that include financial information and strategic objectives........10M3..................................................................................................................................................11D3...................................................................................................................................................12TASK 4..........................................................................................................................................12P5 Exit and succession option for small business.....................................................................12M4..................................................................................................................................................13D4...................................................................................................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONPlanning is crucial for every organisation as they this facilitate proper growth andachievement of company's objective. Superiors of enterprise plan their present as well as futureactivities and ensure that every employee is performing according to the plan. Organisationdevelop numerous plans which they find will be suitable for their company and after formulatingthose plans, they scrutinise best out of those and implement within enterprise. Their main aimwhile planning is to gain maximum profits and achieve desired success. By considering this, theyplan out their business operations (Burns, 2010). Planning also help in reducing possible threatsand challenges which can occur. Hook Norton Brewery is a brewery store situated in HookNorton, United Kingdom. It is a family owned business and was founded in 1849. thisassignment will focus on key considerations for evaluating growth opportunities and theirjustification with relation to organisational context. Different sources of funding available tobusiness with their benefits and weakness of each source is given in this project. In addition tothat, a business plan for growth by including financial information and strategic objectives anddifferent exit or succession options for small business is also given.TASK 1P1 Analyse key consideration for evaluating growth opportunitiesThe term growth can be described as that process which help to increase in desiredcontext such as improving profitability of company is facilitating to attaining growth as well. It isnecessary to observe and analyse thoroughly about several factors that impacts on operationalactivities of an organisation properly (Burton, 2010). This will facilitate to carrying out requiredtasks or procedures in an accurate way to gain better outcomes. It is also observed that trends ofmarket are changed in certain period of time which facilitate several opportunities as well asrisks. Hook Norton Brewery have to focus on these beneficial chances to grab them at correcttime to attain better profits and take an accurate actions for reducing negative impacts of threatsas well. In context of Hook Norton Brewery, they have to focus on some factors which are givenbelow:Target market: - This can be described as that part of market which includes potentialcustomers who are responsible for major profit of particular company. It basically involvesregular consumer which purchase goods of same brand continuously. It is mandatory to focus on
actual needs and demands of target customers and put efforts in correct direction to manufacturean appropriate goods to fulfil desired of people. Hook Norton Brewery have to consider thisaspect and then conduct an effective strategies which helps to fulfil desires of people along withachieving their satisfaction. Turnover: - The term turnover refers to an important factors that ensure about growth ofan organisation as well as efficiency to bear loss (Brinckmann, Grichnik and Kapsa, 2010). It isnecessary to calculate overall turnover in proper way to carrying out required tasks or proceduresin proper way to gain desired outcomes. Profitability: -This can be described that efficiency of company to earn maximum profitapproximately. It is an important aspect on which every firm is conducting several activities orprocesses in more effective as well as efficient manner to generate better profits properly. Porter's generic strategiesCost leadership: - This can be explained about to make an appropriate strategy for tasksor production to manufacture desired products at low cots and provide required quality as well. Itis necessary to render better featured goods to people at reasonable price so that it will be easyaffordable for them. Hook Norton Brewery have to focus of cost of manufacturing and try toprovide services at low price.Differentiation: - The term differentiation means to to make products of own brand thanother companies through maintaining uniqueness of them. It will help to prepare an image ofspecific product separated in minds of customers that attracts people. Focus: - This factors includes two sections like cost- focus that seeks for cost advantagein company's target segment and differentiation- focus which means to make brand imagedifferent from other firms. PESTEL AnalysisPolitical: - This can be described as political parties that has several policies which arenecessary to be considered by different firms which running in particular place properly. HookNorton Brewery can earn better growth of business due to stable political conditions.Economical: - The economic factors such as tax rates, growth, currency, inflation are allresponsible for reducing profitability of company when these elements get fluctuates then theydirectly impacts on business negative manner (Bryson, 2011). Hook Norton Brewery have tocarefully focus on economic condition before expanding business in another area.
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