Planning for Growth Report - Talon Outdoor

Added on - 22 Jul 2020

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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK-1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities..................................................1P2 Applying Ansoff's growth vector matrix on opportunities for growth.............................3TASK-2............................................................................................................................................6P3 The potential sources of funding and its advantages and disadvantages..........................6TASK-3...........................................................................................................................................8P4 A business plan for growth................................................................................................8TASK-4..........................................................................................................................................11P5 The benefits and drawbacks for exit strategy option available for small business.........11CONCLUSION..............................................................................................................................12REFERENCES.............................................................................................................................13
INTRODUCTIONToday the business ways of operating business have change a lot. More and morebusinesses are planning for growth in their business. They are making strategies and plans inorder to brings this change in their company. For this they are making use of digital technologyin order to increase their sales and earn more profit in business(Okagaki and Dean, 2016).. Theuse cloud-computing have proved beneficial for many companies as it makes the work easier inthe organization. All the necessary information is kept safely in a cloud. The use of digitaltechnology will also will help company to provide products and services as per the needs anddemands of customers.Talon outdoor UK is a small-scale independent media specialist organization (Talonoutdoor ,2017). The outdoor advertising are planned and purchased in this organization. Theadvertising such as engaged public spaces are planned and purchased. In this report the growthopportunities for Talon outdoor will be evaluated. On the opportunities of growth the Ansoff'smatrix model will be applied. In this report the various sources of funding will be discussed andits advantages and disadvantages for the company. This report will discuses the exit options thatis available for small-organization and also a business plan for growth will also be made in thisreport.TASK-1P1 Key considerations for evaluating growth opportunitiesIn order to expand the sales of company and also to increase its share in market. Talonoutdoor need to take into consideration the opportunities for growth. The great impact havedeveloped on business due to digital technology. With use of this technology more innovativeproducts can be created by companies. These products will attract customer and in this waycompanies can increase their profit and gain competitive advantage over competitors.The following are the key consideration for evaluating growth opportunists of talon outdoorUse of cloud computing- Today more and companies are making use of cloud-computing as itsaves both time and its implementation in the company is not so costly. For storing records andinformation of employees and customer the company can consider it as a growth opportunity. Asbefore manual process were used in order to store records of customer and employees. But in themanual process a lot of time is consumed and is difficult to do upation in manual process (Wolfand Floyd, 2017). So, the companies make use cloud-computing as storing data and information1
in the cloud is easy. All the information regarding company is stored in one cloud and it alsosecures has only authentic users can access the infiltration on that cloud. There are numerousadvantages of using cloud in organization .Use of mobile technology and social media sites– The use of mobile technology in business hasalso changes the way business operates their business .As technology such as cell phones helpemployees and customer to stay in touch even after office hours. The employees remain incontact with business even after office hour. It has increased productivity of business and due totheir the engagement of employees in their work is more. Today employees can communicatewith employees that are there in other countries with use of mobile phone. It has made process ofcommunication in the company efficient and easier(Phillips and Moutinho, 2014). The latest useof technology such as video conferencing has helped organization to contact face to face peopleand customers outside other counties. This will help employees to explain the people in detailabout their business in detail with this they can also understand the needs of customers as well.So, for both employees and business use of mobile phones and video conferencing is beneficial.The company Talon outdoor can conduct its meetings by using video conferencing with otheremployees outside country.Use of social media sites such as Facebook, twitter and blogs etc have also changed theway in which marketing is done by company of their products and success. Today more andmore companies make use of digital technology in order to promote its product in the market. Ifthere is any new products that is developed by company and in order to make consumers awareabout that product company use these sites. By using Facebook any company will create a pageof its company and products and services offered by company will be mentioned in that page.The customer who are interested can click on like button and this will help the company torecognize the number of customers that are interested in product and services of company. Thestrategies and plan will be made keeping in mind these customers. The preference and lifestyle ofcustomer can also be analysed through social websites as the company will know about thelatest trends and preference about customer.Use of big data in business-This can also be used by companies for the growth of business. Thiswill help them to analyse huge amount of dataset to use of big data innovative and creativeproducts can be created in a business. In order to understand trends, patterns and preferences inhuge database the concept of big data can be used. The most valuable customers can be2
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