Planning For Growth - Demark Assignment

Added on - 08 Jan 2021

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Planning For Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities.......................................................1P2 Apply Ansoff's growth vector matrix to evaluate growth opportunities................................4TASK 2............................................................................................................................................5P3 Assess potential sources of funding available to business....................................................5TASK 3............................................................................................................................................7P4 Design business plan for growth............................................................................................7TASK 4............................................................................................................................................9P5 Assess exit or succession options for a small business..........................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONPlanning for growth is a strategic activity which is essential for organisation to enlargebusiness and its market. Small and medium firms have large number of opportunities that are toincrease market reach and customer base. For this, manager formulate plan to direct employeesand make them execute operations in systematically(Barbour and Deakin, 2012). Present reportis based on DEMARK which is a small firm that provide marketing support to other companies.Firm is making bid of£80,000in government contract i.e. “Alcohol social marketing campaign”.This assignment specifies key considerations and Ansoff's growth matrix that are used bybusinessperson to examine growth opportunities. Different potential sources are assessed byentrepreneur to have adequate capital for executing business activities effectively. Furthersuccession and exit options are acknowledged by them to make decisions for growth of business.TASK 1P1 Key considerations for evaluating growth opportunitiesSmall and medium enterprises have numerous opportunities to enhance their market toimprove their sales and profitability. For this, an entrepreneur conduct market survey to haveinformation about different growth chances. Along this, the firms even find out competitor'soffering to provide products and services accordingly. This help them to establish competitiveadvantage in respect to rival firms.DEMARK is a small scale firm which provide marketingservices to other companies to promote their products and services to people.Competitive advantages:Each and every sector includes large number of firms which areconducting business. This is requisite for organisation to understand their resources, skills andcompetitive edge which can be assessed through porter's generic competitive strategy. This canrefer to as model i.e. used by entrepreneur of DEMARK to construct advantage(Beatley, 2014).Porter's Generic Competitive Strategies:This concept was developed by ProfessorMichael Porter. It is a framework which define that management ofDEMARK to framestrategies according to market. Thus, these are four tactics which an entrepreneur uses to assescompetitive advantage of company which are mentioned beneath:1
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