Planning for Growth - Desklib

PLANNING FOR
GROWTH
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Table of content
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 evaluate key aspects for evaluating growth opportunities.....................................................3
P2 Analyse the opportunities for growth applying Ansoff growth vector material....................5
M1 Options for growth using a certain of analytical frameworks..............................................6
D1 Critically analyse the specific options & pathways for growth...........................................7
TASK 2............................................................................................................................................7
P3 Various sources of funding which are available to businesses .............................................7
M2 Evaluate potential sources of funding & justification ........................................................9
D2 evaluate potential sources of funding with justified argument ...........................................9
TASK 3............................................................................................................................................9
P4 Design a business plan for growth which includes financial information & strategic
objectives for expanding business...............................................................................................9
M3 Develop an effective & detailed business plan ..................................................................11
D3 Present a effective and in-depth business plan ...................................................................11
TASK 4..........................................................................................................................................11
P5 Assess exit or succession options for a small business expressing the benefits & drawbacks
of each option............................................................................................................................11
M4 Exit or succession plan for a small venture.......................................................................12
D4 Evaluation of the exit or succession plan for a small venture.............................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
Every company which is in the market majorly effective planning so by which they can
run their venture in an appropriate manner(Cho and et. al.,2020). Planning is the process which
takes place before executing the plan or is the thinking beforehand which helps them to enhance
their profitability and productivity. There are various types of organizations such as micro, small,
medium and large. They all need effective planning by which they can move for the growth &
development. Rent-A-Car is the chosen organisation for this report, the company is founded by
Jack Taylor and they generate the annual revenue of 14.1 billion euros and working with 68, 000
employees. This report will analyses the Ansoff matrix in order to analyse the growth of the
organisation & also use various models & theme so that they can expand their business in new
locations.
TASK 1
P1 evaluate key aspects for evaluating certain growth opportunities.
It is important for the firm to make the marketing plan by which they can analyse the
available opportunities by which they can sustain in the market for a long period of time.
Planning for the company in order to achieve the desired goal and Rent-A-Car is the small
venture which is based in UK & planning to expand their market in to new locations.
Porter's generic strategy
It is the framework that helps in evaluating the competition in the market and there are four
strategies which is being used by the organisation in order to expand their market and these are
given below: Cost leadership: - this is the aspects which emphasizes on the cost in which the
companies offering their product and services to their target group. They are offering
their product in low prices to their potential customers and Rent-A-Car can use this
strategy in order to increase their customer base. Differentiation: - it is the approach in which organisations offer the elevator and unique
product by doing effective direct search and development in order to evalauate the needs
and wants of their potential customers by which they can have higher profits and revenue. Cost focus: - it is the approach which focuses on the nature market and offer goods &
services at nominal prices. Company understand the needs & wants of the potential
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buyers in order to provide the goods at nomial prices by which they can cover the target
market.
 Differentiation focus: - it is the strategy which focuses on launching new product but in
the nature market and it is mainly focuses on organisation loyalty by which they can have
more competitive advantage in the target market. Rent-A-Car can offer advance product
in the market by which they can attain higher profits.
It is evaluated that this framework helps in getting more advantage in terms of market
competiton & company can effectively expand their Market by using cost focus strategy by
which they can offer the product and low prices in order to attract large pool of customers.
PEST Analysis
The framework of analysing the external environment which can evaluate the operations of
the business and take the right action with the consideration of having good brand image in the
market. External environment includes various aspects which are existing in the market and these
are explained as follows: Political Factor – these are the aspects that includes government laws goverment
stability and many more. Rent-A-Car is the small business which they want to expand in
the new locations by doing market research and it is important to copeup with the
political instability of the country so that they can follow the rules and laws of a
particular area. Economical Factor – these are the factor which are concern for the inflation rate
recession rate employment rate and interest rate. The economy of UK strong but due to
uncertainty of brexit, organisation and face more impact on their growth and Rent-A-Car
focuses on offering unique product. Social Factor – these are the aspects which includes the norms believes and social values
of the people that reflect the buying behaviour of the buyer. Rent-A-Car affect the whole
market & also they are meeting various religion and they are considered literacy rate by
which they are considering all age group member as their group.
 Technological Factor - these are the aspects that are concern with the technological
innovation and change in the technology. Rent-A-Car is using certain innovative
techniques by which they can meet the needs and wants of their customers by which they
can attain higher profitability.
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