Planning for Growth Assignment - Guildford tyre company
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Added on 2020-11-23
Planning for Growth Assignment - Guildford tyre company
Added on 2020-11-23
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PLANNING FOR GROWTH
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................1P1 Key considerations to evaluate growth opportunities with justification of considerations.. .1P2 Evaluating opportunities for growth with application of Ansoff's growth vector matrix......4P3 Sources of funding Available for Guildford Tyre company and their benefits anddrawbacks....................................................................................................................................5P4 Developing business plan for attaining growth with inclusion of strategic objectives andfinancial information...................................................................................................................8P5 Exit or succession option for SME with its benefit and drawbacks....................................12CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................16
INTRODUCTION Planning for growth is important for organisation to achieve their objective and increasethe profitability of firm. Planning for the growth or business includes formulating variousstrategies, making effective decision which will help the business to grow etc. This assignmentwill include Guildford tyre company which is providing various products and services to thecustomers by manufacturing of tyres. It provides various services such as serving and repairing,mobile tyre fitting etc. this study will include various opportunities for the business expand theirbusiness in existing market. Furthermore, it will provide understanding of different sources offunding available with the firm. Also, it will design the business plan for the organisation toachieve the objective of the company. This assignment will include the exit option available withthe firm. Moreover, it will provide evaluation of opportunities with the help of Ansoff's growthvector matrix.P1 Key considerations to evaluate growth opportunities with justification of considerationsIn the present scenario, every firm has its main objectives is to attain growth along withaccomplishing its objectives as Guildford tyre which is planning for initiating a new servicewhich is huge in demand as emergency and online services of various agencies throughout UK.For this perspective, there will be key considerations for purpose of evaluating growthopportunities with PESTLE analysis (Bridge and Dodds, 2018).PESTLE AnalysisPolitical factorsIt impacts business with huge importance as there are multiple aspects of governmentpolicy as every business entity must consider law. Its managers must extract upcominglegislations which impacts the activities. It could also consider risk factor which will directlylead to major loss. This will be impacting government policies at federal and local level and inthis aspect Guildford Tyre company must be ready for dealing it with multiple international andlocal outcome of policies. The political factors are stated below:BureaucracyTariffsData protection lawCompetition regulationsTax policy1
Employment lawFreedom of pressIts importance for purpose of observing this political environment due to stability whichwill impact appeal on basis of particular local market. The Guildford tyre company will beviewed through government as social reform where legislation will be passed which will beimpacting relationship of customers, suppliers and organizations.Economic factorsThese factors are linked with money, goods and services of Guildford Tyre Company asthis will be directly impacting business where variables will be referring to financial state ofeconomy with huge level as it might be global or local. The economic factors are stated below:Exchange rateInflationInterest rateTaxesRecessionDemand/ SupplyInterest rate might appear in particular range of multiple places as it is imposed to rangeof various people as it is about status Quo for interest rates and affects Guildford Tyre companyas take loans. With reference to recession, it has presence of potential for altering attitude ofcustomers by purchasing as it might force Guildford Tyre company for dropping price and atsmall volumes (Frenchman, 2017).Social factorsIn the present scenario, society is changing with rapid aspect as tastes and fashion arereferred as great example. The most significant variation is about growing popularity of socialmedia. The present generation gives huge preference to digital technology for online shopping.The social factors are stated below:Education levelBuying habitsAverage disposable income levelLifestylesAttitude towards green and ecological products2
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