Planning for Growth in Various Contexts

This assignment requires analyzing the concept of planning for growth across different domains such as entrepreneurship, regional development, forestry, worker cooperatives, and product development. It involves examining the challenges and strategies associated with planning for growth in these contexts. The analysis should be based on a collection of academic papers and research studies that provide insights into planning for growth in various settings.

Planning for growth
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Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key consideration for analyse growth opportunities in context of an organisation...............1
P2 Evaluation of growth opportunities by apply Ansoff's growth vector matrix........................3
M1 Options for growth in order to understand competitive advantage.......................................4
TASK 2............................................................................................................................................5
P3 Potential sources of funds available to business with its benefits and drawbacks.................5
M2 Potential source of funding...................................................................................................5
TASK 3............................................................................................................................................6
P4 Business plan for growth including strategic objective and financial information................6
M3 Detailed business plan for secure investment and growth....................................................6
TASK 4............................................................................................................................................7
P5 Succession and exit options for a small business with its benefits and drawbacks................7
M4 Exit and succession options for a small business..................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Planning is known as the process of decide future actions and activities and this play a
significant role in growth of a business enterprise. One of the main benefit of this is that it help
manager in identify the resources and funds require to complete business operations. This ensure
completion of business activities in time. Technology is the factor that provide support to
business entities to perform all functions and this also boost up the process of business. This
bring creativity at workplace and help in offer featured products to customers operations
(Barbour and Deakin, 2012). Clearly Drinks Limited, a soft drink firm operate in United
Kingdom is taken in this report for study. Major focus of entity is to implement digital
technology for get success. Major consideration for examine growth opportunities for an
organisation is given in this report. Various sources of available to an enterprise for get funds
with its advantages and drawback is all mentioned under this.
TASK 1
P1 Key consideration for analyse growth opportunities in context of an organisation
Clearly Drinks Limited is a soft drink firm and offer various types of drinks to its
customers in UK. Main aim of enterprise in to expand its operations in new areas with help of
innovation and different type of drinks in new areas as per the taste and needs of customers. In
this way, entity can capture a large market share and at the same time can maintain a competitive
position in market. With this, company can attract more customers towards its products and at
the same time can increase its sales. All this directly increase profits of organisation and this is
one of the main benefit of plan business activities. Final objective of entity can be achieve with
help of plan various activities and with this entity can use the technology in better manner and
can examine the factors in the business environment. One of the main benefit of planning is that
it help manager in formulate better and effective policies for commercial activities. By
implement the concept of digital technology, organisation can manufacture featured products for
its customers and can satisfy their needs in better manner. Effective planning increase the
success chances of entity and help in create an innovative environment at workplace.
opportunities that are available for Clearly Drink Limited with implementation of digital
technology is given in the following points:
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 Competitive benefit: Management of Clearly Drink Limited plan to implement digital
technology for carry out business operations. This will add effectiveness in whole
business activity as with this all departments can perform their roles and duties in
effective manner. With help of technology, manager of production department can
identify the major and effective ways to carry out production process. In this way,
enterprise can manufacture drinks with new flavour and can better satisfy the needs of its
customers (Brinckmann, Grichnik and Kapsa, 2010). With help of technology, various
tools of communication are there which can be use by manager of marketing department.
Benefits of use technology can be attain by various other departments of company such
as HRM, sales department and many more. With help of technology, manager can offer
training to employees with new and effective channels. In this way, staff members can
perform their job roles in effective manner and can serve customers in better manner.
With all this entities cab perform well and can get competitive benefit.
 New goods and services: Technology provide various channels for communication which
bring cooperation among various function perform by a business entity. Further this, help
in create and maintain good relations with workers. Different tools support entity in carry
out research and better understand the market trends and needs of customers. With this
entity can produce soft drinks as per the requirements of customers and can retain them
for a long time period. In addition to this firm can introduce new flavour as per the needs
of customers. Innovative idea improve skills and knowledge of workers which help them
in perform their job roles in effective manner (Burton, 2010). With help of technology
entity can offer products to its customers with help of online platforms. All this increase
success and sustainability of enterprise.
 Collaboration: Various growth opportunities are there available in front of firm in form of
joint venture, acquisition, merger and many more. With this, entity can work with other
firm and can serve more quality and featured products to its customers. With effective
use of technology company can make new drink and can attain desired outcome.
All these are the major growth opportunities which can be utilise by Clearly Drink Limited to
generate more profits and for capture larger market share.
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P2 Evaluation of growth opportunities by apply Ansoff's growth vector matrix
Large number of growth opportunities before Clearly Drink Limited by implement the
concept of technology for execute commercial activities. Entity can either develop products or
can offer its existing products in new markets for serve more customers. In order to identify the
opportunities and to utilise it there is a tool known as Ansoff’s growth matrix that can be use by
firm. As per this tool there are four major areas known as product development, diversification,
market development and market penetration. In this way, entity can expand its activities in new
areas and can generate large amount of profit. Four options available for an entity that are cover
under this matrix can be understood by the following points:
 Market penetration: This option is one of the most safer one and largely boost up the
success process. In this strategy, entity sales it existing products in existing market. One
of the main focus of organisation in this is to increase the number of its profits and for
this entity implement effective strategies. One of the main focus of entity remain to offer
more value to its customers (Chapin, 2012). Clearly Drinks Limited is a drink entity that
offer various type of drinks to its customers. Penetration strategy adopted by entity to
offer its existing products in markets for increase the number of profits. For increase the
sale of products, entity require to use effective promotional tools. This is one of the best
strategy to get competitive benefit and satisfy the needs of customers.
 Market development: Under this strategy, firm identify new markets for sale its products.
This directly increase sale and market share of business organisation (Christofakis and
Papadaskalopoulos, 2011). Clearly Drinks Limited can identify an d utilise growth
opportunities in form of market development in which entity can offer its drinks. With
technology, entity can use online platforms to expand its activities in new areas and can
attract large number of customers towards its drinks. But to expand operations in new
market and to manager business activities some elements that require to be consider by
manager is that entity require to adopt affordable pricing policies. For expand business
operations, entity require to take help of effective distribution channels so it can offer
the products to final customers. Firm can divide the market on demographic and
geographic basis (Eddleston And et. al., 2013). With this, entity can better identify the
tastes and preferences of its customers and can fulfil their requirements in better manner.
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 Product development: This is another strategy in this entity manufacture and offer new
products to its customers for fulfil their specific requirements. Fro get all benefits related
with this strategy, entity require to formulate and follow a plan. Technology can be use
by entity for manufacture a new and featured product. in this way entity can gain trust of
customers which also offer competitive benefit to firm. By identify and examine the
tastes of customers entity can make drinks as per their requirements. Replacement of
drink which fail to satisfy the needs of customers is also come under this. One of the
main benefit of this strategy is that it help in attract the customers of rival’s firm.
 Diversification: This is one of the most effective strategy of achieve growth and success.
Strategy adopt by Clearly Drinks Limited is to offer various type of drinks to its
customers for enhance their loyalty. Under this entity manufacture new products and
offer the same in new markets. Management of this technique is very essential for get the
benefits related with this strategy.
All these are the major growth opportunities that can be utilise by Clearly Drinks Limited to
achieve its set goals an objective. For attain success, entity require to carry out an situational
analysis as with this firm can choose the best and effective strategy and at the same time can
survive for long time period.
M1 Options for growth in order to understand competitive advantage
For identify and utilise the growth exist in market, it is very essential for business
organisation to undertake an analysis of business environment. For this purpose, there is a tool
called PESTLE analysis as this help in examine external factors and their impact on actions of
firms. Opportunities provide by this analysis are as follows:
 Political: This help in analyse the political situations exist in a country and also indicate
taxation policies. This support entity in take better decision and this help increate positive
image of entity.
 Economical: with help of this element, M&S can identify and choose the best source for
raise funds.
 Technological: This factor help in identify the new and effective technology exist in
business environment and use of new technology help in maintain competitive position.
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TASK 2
P3 Potential sources of funds available to business with its benefits and drawbacks
Clearly Drinks Limited is a drink company and various type of drinks are offer by entity to
fulfil requirements of its customers. One of the main focus of entity is to expand its business
activities in new areas with help of digital technology. But for this, it is very essential for
organisation to have adequate amounts of funds. Various sources that can be use by Clearly
Drinks Limited for raise funds are as follows:
 Bank loan: This is one of the most popular source which is use by large number of
organisation in order to raise fund. In this firm take loans from bank on fixed rate. This is
one of the easy way to get funds. One of the main advantage of this method is that it is
simplest and quickest way to arrange funds. Banks provide loans to customers on low
rate. Disadvantage related with this method is that firm require to follow a lengthy
process and fulfil all the requirements. Further this create a burden of repayment of firm.
 Crowd funding: This is another source which can be use by Clearly Drinks Limited in
order to get funds for execute business operations. In this, entity collect funds from large
number of local people living in a country (Grover, Bokalo and Greenway, 2014). This
tool help in get the attention of large number of people. One of the main advantage of
use this method is that it help in collect the opinions of public related with expansion of
business activities in new areas. In this raise funds for entity is very easy. Disadvantage
of this is that it is very time consuming method and repay amount the public become
more complex.
M2 Potential source of funding
Large number of sources are there which can be use by business enterprise to raise funds
for carry business operations (Keough, 2015). Major method are given in the following points:
 Crowd funding: Under this funds are raise from public. Drawback of this is that it is very
time consuming process and entity cannot change the objective without permission of
public.
 Bank loan: In this entity raise funds from banks for expand its activities in new areas.
This is one of the easy method of raise funds.
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TASK 3
P4 Business plan for growth including strategic objective and financial information
Business plan consists decide the future actions and decision taken by business entity to
satisfy the needs of its customers and to generate a large amount of profit (Keough, 2015).
Business plan of Clearly Drinks Limited related with expansion of commercial operations in
new areas with help of digital technology is as follows:
Company description: Clearly Drinks Limited is a soft drink firm with a specialisation of
offer sugar free drinks to its customers.
Mission: Mission of Clearly Drinks Limited is to attain growth and capture a larger market
share. Due to this all activities of firm are directed to achieve its mission.
Strategic objective: Make and offer new drink to its customers for retain them with a long
time period is one of the main objective of entity. Implementation of technology for attain its set
goals is another objective of company.
Products and services: Various type of drinks are offer by Clearly Drinks Limited in order
to serve its customers. Sugar free soft drink is one of the innovative product of entity. Firm
design unique bottles to make its product more attractive and to increase its sales target.
Internal analysis: This analysis help manager in identify the strengths and weakness of
entity which help in take better decision.
Strengths: Effective distribution channels and positive image in market. Competency to
implement the technology in an effective manner.
Weakness: Due to large number of players entity face price wars and this decrease the
profit of entity.
Target market: Under this entity determine its target market to serve its products. Local
people are the main focus of entity to which entity offer drinks as per their needs.
Financial information: This consists information related with financial position of entity.
Clearly Drinks Limited has a good financial position in market and due to this entity can raise
funds from various sources.
M3 Detailed business plan for secure investment and growth
` Business plan is known as a written document that contain the future actions taken by
entity for achieve its set goal. Main benefit of this is that it provide direction to managers and at
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the same time guide workers so they can perform their job roles in an effective manner. These
plans help in utilise all resources and at the time support in expand business activities in new
areas.
TASK 4
P5 Succession and exit options for a small business with its benefits and drawbacks
Options of success and exit are use by business enterprises as per their performance in
market place. Manager is the one who remain responsible to measure the performance of
business and present the same before board of directors. On basis of that top management take
decision whether they want to continue the business or want to dissolve the same.
Various ways to exit business:
 Liquidation: If firm bear loss on continuous basis then manager can take the decision to
wind up business. One of the main benefit of this strategy is that owner become free form
any kind of legal formality. Disadvantage of this is that all assets are sold out in order to
pay creditors.
 Sell the business in open market: When owner decide to wind up all activities then the
business can be sell in open market at a specific amount. Feature of this is that it help
owner in get value of the business. One of the advantage related with this strategy is that
the goodwill remain with the firm and due to this it is very easy for attract more
customers in new business (Keough, 2015). Disadvantage of this is that purchase of
business by its rivals.
Various ways the business can succeed are as follows:
 Delegate work to expertise: Owner of business require to assign roles and
responsibilities to employees as per their knowledge and specialisation. All this
ensure effective execution of business activities and at the same time offer
competitive benefit to company.
 Use of internet: In this entity use internet in order to interact with its customers and to
influence them to buy company’s product. one of the main benefit of business succession is
that it make the workers feel secure and safe about their employment. But when entity
operate in various areas then it increase complexity of business operations.
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M4 Exit and succession options for a small business
Exist and succession are various points of a business organisation that rely upon the
performance of company. For achieve success, it is very important for entity to perform well. If
organisation fail to satisfy the needs of its customers then they have the only option of
liquidation. For survive in market for long run, it is very essential for firm to formulate and
implement effective strategies.
CONCLUSION
From the given project report, it can be summarised that planning help business
enterprises in attain its set goal and objective in effective manner. Planning help in utilise all
available resources and funds to an optimum level and this improve efficiency of business
activities. With help of proper planning, Clearly Drinks Limited can implement technology in its
business operations in an effective manner and can get all benefits related with it. For examine
growth opportunities various factors are there that require to consider by entity. Organisation can
take help of Ansoff's growth matrix in order to examine the business opportunities available in
market and can utilise the same. Further, various sources are there which can be use by entity for
raise funds in order to execute business operations but benefits and drawbacks related with every
source require to be examine by manager before choose a final one.
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REFERENCES
Books and Journals
Barbour, E. and Deakin, E.A., 2012. Smart growth planning for climate protection: Evaluating
California's Senate Bill 375. Journal of the American Planning Association. 78(1).
pp.70-86.
Brinckmann, J., Grichnik, D. and Kapsa, D., 2010. Should entrepreneurs plan or just storm the
castle? A meta-analysis on contextual factors impacting the business planning–
performance relationship in small firms. Journal of Business Venturing. 25(1). pp.24-
40.
Burton, P., 2010. Growing pains: The challenges of planning for growth in South East
Queensland. Australian Planner. 47(3). pp.118-125.
Chapin, T.S., 2012. Introduction: from growth controls, to comprehensive planning, to smart
growth: planning's emerging fourth wave. Journal of the American Planning
Association. 78(1). pp.5-15.
Christofakis, M. and Papadaskalopoulos, A., 2011. The Growth Poles Strategy in regional
planning: The recent experience of Greece. Theoretical and Empirical Researches in
Urban Management. 6(2). pp.5-20.
Eddleston, K.A. And et. al., 2013. Planning for growth: Life stage differences in family firms.
Entrepreneurship Theory and Practice. 37(5). pp.1177-1202.
Grover, B.E., Bokalo, M. and Greenway, K.J., 2014. White spruce understory protection: From
planning to growth and yield. The Forestry Chronicle. 90(1). pp.35-43.
Hough, P. and et. al., 2010. The worker co-op sector in Canada: Success factors, and planning
for growth. Canadian Worker Cooperative Federation.
Keough, S.B., 2015. Planning for growth in a natural resource boomtown: Challenges for urban
planners in Fort McMurray, Alberta. Urban Geography. 36(8). pp.1169-1196.
Li, Z., Mobin, M. and Keyser, T., 2016. Multi-objective and multi-stage reliability growth
planning in early product-development stage. IEEE Transactions on Reliability. 65(2).
pp.769-781.
MacLeod, G., 2013. New urbanism/smart growth in the Scottish Highlands: Mobile policies and
post-politics in local development planning. Urban Studies. 50(11). pp.2196-2221.
Mitchelmore, S. and Rowley, J., 2013. Growth and planning strategies within women-led SMEs.
Management Decision. 51(1). pp.83-96.
Moseley, M.J., 2013. Growth Centres in Spatial Planning: Pergamon Urban and Regional
Planning. Elsevier.
Pallagst, K., 2010. The planning research agenda: shrinking cities–a challenge for planning
cultures. Town Planning Review. 81(5). pp.i-vi.
Todes, A., 2012. Urban growth and strategic spatial planning in Johannesburg, South Africa.
Cities. 29(3). pp.158-165.
Valler, D., Phelps, N. and Wood, A., 2012. Planning for growth? The implications of localism
for ‘Science Vale’, Oxfordshire, UK. Town Planning Review. 83(4). pp.457-488.
Wu, F., 2015. Planning for growth: Urban and regional planning in China. Routledge.
Ziari, I. And et. al., 2012. Integrated distribution systems planning to improve reliability under
load growth. IEEE transactions on Power Delivery. 27(2). pp.757-765.
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Planning for growth. 2017. [Online]. Available Through:
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