Planning for Growth: Analysis, Strategies, and Business Plan

PLANNING FOR
GROWTH

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P1 Analysis for evaluating opportunities for growth..................................................................3
P2 Ansoff's growth matrix analysis.............................................................................................7
P3 Finance sources with the advantages and disadvantages.......................................................8
P4 Business plan for growth.......................................................................................................9
P5 Exit and succession options for the business along with its benefits and drawbacks..........11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Planning is the framework which involves thinking about the activities which are
required for achieving the targets and goals of the business. It is considered as an essential
function of the management. It is very important to form a view before performing any particular
task or assignment. The process of planning is related to the innovation and creative discovery of
various strategies. This can be achieved by firstly setting out the objectives for the business. It is
one of the most essential steps that managers take for effective and efficient management. It
gives a proper direction to the management which helps in minimising the risk and eliminates
wasteful activities. It promotes creativity and innovation in the company and also helps in
making important decisions(Becker and Kaza, 2022). It is a continuous process which leads to
greater efficiency in the operations. This report is prepared on Candy Floss Crazy which is a
funfair rides, catering and games organization. The company was founded in the year 1986 by
Jason AR Moody. The headquarter of the business is situated in West Yorkshire, UK and it
operates in various countries such as Canada, UK and many more. The report will discuss about
the various factors which needs to be taken into consideration by SMEs for measuring growth
opportunities. The various ways of funding and exiting ideas for organizations are also covered
in the report. It also includes a plan for business growth which will help in increasing the
operations.
MAIN BODY
P1 Analysis for evaluating opportunities for growth
It is very essential for the organizations to make proper planning in regard to the growth
and expansion. This can be done by formulating various strategies and applying different
frameworks and models in the activities of business. The various models which are used by the
management of Candy Floss Crazy for scaling the business and increasing the opportunities of
growth are discussed below:
Competitive advantage- It is the competitiveness which plays a very crucial part in making the
business work better. This also provides benefit to the customer's since the companies will be
offering the products at a reasonable price in order to maintain its position in the market(Cirunay

and Batac, 2021). For gaining a competitive advantage in the market, the Porters generic strategy
is analysed on the Candy Floss Crazy business. The analysis is discussed below:
Porter’s generic strategy:
The generic strategies can be applied to all the products and services and to all the
organizations irrespective of the size. This helps the companies in gaining a competitive
advantage in the market.
 Cost leadership- This strategy focuses on reducing the cost of the goods and services for
getting an edge in the market(Gaffikin and Engelman, 2018). Candy Floss Crazy is
focusing on the middle class segment which is a very large market share of the business.
The organization pays attention on the processes which makes the products affordable to
the customer's. The company is receiving the benefit of brand recognition, increased sales
and expansion of customer's base.
 Differentiation- The organization Candy Floss Crazy uses this strategy for achieving the
sustainable growth with the aggregation of expenditure. The company focuses more on
introducing new goods and services which helps in growing the base of the customer's.
The brand logo of the business is used for developing the image of the brand in the
market. The various types of services is used for making innovation in the products.
 Focus- It is related to paying attention on the available resources by focusing on any
particular segment of market. The Candy Floss Crazy provides products at reasonable
cost and enhance quality bu using this strategy. The company mainly pays attention on
the products characteristics by making alteration in the items for providing customer's a
satisfied experience.
PESTLE Analysis:
It is a framework which is used by the businesses for formulating strategies regarding the
operations. This helps in analyzing the external environment factors which provides
opportunities for developing capabilities and competencies.
 Political factor- It is related to the political factors which can make an impact on the
operations of business(Heinen, 2022). The political factors are tax policies, trade tariffs,