Planning For Growth Assignment - Azio
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Added on 2020-11-23
Planning For Growth Assignment - Azio
Added on 2020-11-23
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PLANNING FOR GROWTH
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Identifying key considerations for growth opportunities.......................................................3P2 Identifying growth opportunities by applying Ansoff Vector matrix....................................5TASK 2............................................................................................................................................7P3 Stating potential sources of funding available to business along with its advantage ordisadvantages..............................................................................................................................7P4 Business plan for growth perspective..................................................................................10P5 Justifying different options for exit and success related to SMEs.......................................17CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................20
INTRODUCTIONIn the present scenario, SMEs are contributing huge proportion in present economy. Thepresent report will be giving brief discussion about Azio corporation who is moving towardsgrowth and development. It has also discussed about various technologies along with itsapplicability for long or short term perspective. Further it has included business plan for growthof Azio corporation with its income statement. It has also stated different succession plans andexit strategy with its merits and demerits. TASK 1P1 Identifying key considerations for growth opportunitiesAzio Corporation is manufacturer which has concentrated on giving tech gear in uniqueaspect as it makes everyday life full of fun and creativity. They used to express emotions andperceptions via designs and they provide best designs for amazing experience for various peopleof different ages without considering hobby, profession on need might be. The main business ofAzio is as Manufacturer of electronic and computer peripherals. In its industry, it has maintainedits status by manufacturing products of cutting edge which gives proper comfort and minimalenvironmental footprint which is left behind. In the context of innovation and growth capability,several competitive dynamics and market demands for holding competitive position. AzioCorporation must give special emphasis on several factors for identifying plans and gaps in thecontext of improvement (Keough, 2015).Competition or competitive advantage: It is replicated as threat to business which hasits operations and location in similar context. The main objective of any organization is toframe competitive advantages over other organizations. There should be presence ofjustifying different offerings of its other competitors and position. Success can beachieved by productivity and innovation of specified organization.Legal consideration: The innovation should be directly aligned by different legalregulatory framework. It will directly reflects function of organisation in very smoothmanner according to this Azio Corporation which will comply with different legislationand laws. The legal considerations should be in a very appropriate manner as it willsignify its effect in brand image. For manufacturing various electronic and computerperipherals, there is requirement of license for adjusting legal formalities. In the context
of identifying legal agreement, growth options should be considered in very appropriatemanner.Financial viability: While assessing financial viability, it tends to give significantconsiderations while tracking business viability. In the same series, there is requirementfor analysing capital investment, cash flow projections, business profitability andprojections of cash flow. The main reason is to justify sustainability of business incontext of market mix. Azio Corporation should be able to initiate the business byidentifying different monetary aspects.Process of management: In the present era, there are various organizations with basis ofgrowth minded. Usually, they prepare simple and straightforward place for evaluating,executing, articulating and identifying different growth opportunities which includeprocesses likes focusing on growth of portfolio, recording performance via scorecards bymanagement in very strong manner.Plans for expansion: Azio Corporation can expand itself by mergers, franchiseagreement and acquisition in context of business and it provides services to its consumersin huge volume. Cost benefit analysis will be performed by Azio Corporation as it will bedepicting fair picture of growth. It must be able for selecting option which is directlyrelated to opportunities as it tends to be higher than cost.Customer focussed: It is considered as the most important factor, which is required byevery organization for delivering real value by accomplishing different requirementsaccording to needs of their main targeted consumers.PESTLE analysisPolitical factorsThere is huge presence of politicalstability which signifies wholesalesector in context of electronic ineconomy of UK (Li, Mobin andKeyser, 2016).Military invasion has been reflected.Contract has been enforced on basis ofTechnological factorsDeveloping technology such asworking for touchscreen keyboards. Different category of product offeringsbecause of impact of technology.Technology should be advanced by itscompetitors.Structure of value chain especially in
legal framework.Interfering of government and level ofbureaucracy.Product labelling is required.Level of corruption, especially inservice sector.Intellectual property protection.service sector.Economic factorsStages of business cycleExchange rate along with stability levelof currency of host country.Rate of inflation.Fluctuations in interest rate.Cost of labour and productivity ineconomy.Infrastructure quality.Effect on basis of economic growthrate.Unemployment rate.Efficiency in financial markets.Legal factorsThere is presence of different law whichshould be followed by every manufacturingcompany especially for Azio corporation suchas:Discrimination lawIntellectual property lawHealth and safety lawData protectionCopyrights and patentsEmployment lawSocial factorsHierarchical structure of class, societyand power in society.Impact of culture.Demographic population.Skills Educational level and standard relatedto Azio corporation.Leisure interestsEnvironment factorsManaging waste in context of servicesector.Regulations of air and water pollutionin electronic industry.Alterations in climateAttitude towards renewable energyImpact on weather (Kumar, 2016).
P2 Identifying growth opportunities by applying Ansoff Vector matrixAnsoff matrix is referred as ansoff product and market growth matrix as a planning toolfor marketing, which justifies growth of product and market. Generally, it lays special focus onproducts that are existing or new. Different recommendations are given for growth of business asthey have relationship with new products and market. This strategy replicate its four elementswhich are market penetration, product development, diversification and market development. Forthe perspective of future growth and success at extent level, Azio should create ability forgenerating strategies (Grover, Bokalo and Greenway, 2014). (Source: Business opportunities, 2018)There is brief reflection about these specified four elements as given below:Market PenetrationIt consists of existing products whichare sold in existing market are coveredunder this strategy. Usually, it exploitsproducts without changing outlook ofproducts.It has been performed by differentpromotional methods by specifyingdifferent policies of pricing that attractclientele and can perform distributionProduct DevelopmentUnder this strategy, innovative productsare introduced in Existing markets .New competencies are developed alongwith modified products of existingmarket.It lays special emphasis on R&D andinnovation factor along with giving firstmover advantage whichis also gainedby providing insights about requirement
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