Planning for Growth: Key Considerations, Ansoff's Matrix, Funding Sources, and Business Plan

PLANNING FOR GROWTH

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
P.1 Key consideration..................................................................................................................3
P.2 Opportunities and growth evaluation by Ansoff's Matrix.....................................................5
P.3 Potential Sources of Funding ................................................................................................7
P.4 Designing business plan for scaling up the business.............................................................9
P.5 Succession options...............................................................................................................13
CONCLUSION..............................................................................................................................15
REFERENCES................................................................................................................................1

INTRODUCTION
Growth and business are closely linked with each other. Every company perform its
function for the accomplishment of growth and success. Growth enables the company to make
exploration of business along with market. However, it requires that adequate planning need to
be made with a consideration towards various aspect including social, market, competitive and
various other aspect. Likewise, other option including funding and strategic growth option will
also need to be considered with the making of plan related with growth. Rent-A-Car is one of the
oldest company of UK that provide rental car services. It was established in 1957. It is an
international and recognized brand with enabling its services across the entire globe. This report
will discuss various consideration that will enable growth. Likewise, sources of funding along
with a business plan is also a part of this report. At the end succession strategies are also
included in this report.
MAIN BODY
P.1 Key consideration
There are various consideration with regard to Rent-A-Car that may have an impact over
the company and its growth. These considerations includes:
Social factors:
This is related with the customer taste and preference. This means with the changing taste
and preferences of the customers and their inclination towards the rental will act as an
opportunity for the Rent-A-Car. Since with the changing trends it is now common that the
customer usually prefers to make a car on rent rather than making purchasing. This means that
with the consideration over this aspect the company can move towards the growth (Cubric,
2020). Likewise, since with changing such taste of customers it would not be wrong to said that
Rent-A-Car will be able to make explorence in the market along with getting growth.
Technology:
This is also a major consideration towards the success aspect which is related with
technological advancement and up-gradation (Clohessy, Acton and Rogers, 2019). With the
changing technology and making its inculcation in the daily life would emerge as an opportunity
of growth with regard to Rent-A-Car but only if it will also adopt such changes. This means that

with the facility of digital technology and enabling facility of online booking the rental car will
lead to have a growth for the company. This is also having a direct impact towards the company
in terms of raising its share of profit and growth because with the adoption of technology, Rent-
A-Car would enable its services on a wider scale.
Environmental:
This is an important element and consideration towards the growth aspect for Rent-A-
Car. This is because with the raising pollution enabling vehicle at rental mode will lead to have
an impact in lowering the pollution (Dolphin, 2020). This would act in the direction of reduction
of more purchasing the car and make its negatively impact the environment. In addition of this
installation of such system that will lead to reduce the emission of carbon will again lead to have
a positive impact towards the company in the context of environment.
Competition:
This is also an important consideration which is related with extent of market competition
and needed to be focussed (Chauhan and Kalkis, 2021). This is because with a looking towards
the aspect of competition Rent-A-Car would make and frame its future strategies in such a
manner that along with meeting the need of the competition, it can further achieve growth too.
Economic:
This is also an important element with regard to growth opportunities. This is because
economic consideration include the economic environment containing economic policies and the
situation (BURKALTSEVA, and et.al., 2017). If the economic condition are good then it will
automatically enable the growth opportunities to Rent-A-Car by which it can frame its future
course of action and move towards the direction of growth.
Market situation:
This is also an important consideration with regard to analysis of growth opportunities.
This is because if the market situation is not good and favourable then it will lead to have an
adverse impact over the company and its business (Park, 2020). As every company make
perform its operation in the market. And if there would be no favourable situation then it will
lead to gave an adverse impact over the company and its growth too.
New product or services:
As per the need of the market and its analysis making up-gradation in the existing
services of the company will lead to enable it growth opportunity. This means keeping a focus