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Planning for growth INTRODUCTION 1 TASK 11 P1. Key considerations for evaluating growth opportunities

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Added on  2021-01-02

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Developing a creative plan is a necessary for company through which they can easily achieve growth and success.This helps to pre- determine objectives which are essential for a business organisation. This bring highlights on how to design a business plan and includes strategy which helps in to identify the exit and succession option for a small business that can able to overcome from any difficulties that are to be faced by a business enterprise.

Planning for growth INTRODUCTION 1 TASK 11 P1. Key considerations for evaluating growth opportunities

   Added on 2021-01-02

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Planning for growth
Planning for growth INTRODUCTION 1 TASK 11 P1. Key considerations for evaluating growth opportunities_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Analyse key considerations for evaluating growth opportunities....................................1P2. Evaluate the opportunities for growth applying Ansoff’s growth vector matrix.............4TASK 2............................................................................................................................................5P3. Sources of funding to businesses and discuss benefits and drawbacks............................5TASK 3............................................................................................................................................7P4. Design a business plan for growth...................................................................................7TASK 4............................................................................................................................................8P5. Exit or succession options for a small business and their benefits and drawbacks..........8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
Planning for growth INTRODUCTION 1 TASK 11 P1. Key considerations for evaluating growth opportunities_2
INTRODUCTIONPlanning for growth plays a crucial role in every business enterprise. Developing acreative plan is a necessary for company through which they can easily achieve growth andsuccess. This helps to pre-determine objectives which are essential for a business organisation. Itassists in achieving goals through pre planning of each activity in better manner. This report isbased on XYZ company which provides various services regarding computer services (Sarver,2015). It comes under a contract with Digital data and technology at a bid price which starts from£20,000 and should not exceed more than £300,000. The total amount of bid is£20,000 in which £10,000 are paid and remaining are acquiring by taking loan. This bringhighlights on how to design a business plan and includes helps in to identify the exit andsuccession option for a small business that can able to overcome from any difficulties that are tofaced by a business enterprise.TASK 1P1. Analyse key considerations for evaluating growth opportunitiesPlanning for growth mainly focuses on changes as small medium enterprise movesbeyond the start-up stage. It guides in to make blue print of planned activities. This will developfor compare the actual performance with the standard performance that are made at a time ofplanning. This helps in carry out innovative and creative ideas which are required to attain theirdesired goals. This assist in to generate opportunities for growth and development to ensure thesustainability of XYZ company which runs a business of information technology (Lu and Yu,2014). It serves wide range of computer services like cloud computing, resolve problems relatedto hardware and software. This also includes various languages to build a program orapplications and so on. This section includes the factor that evaluate growth opportunities forXYZ company. It can be analysed from porter's generic model and pestle analysis to identify theexternal aspects that can bring effects on respective business enterprise. This are explained underbelow as:Porter's Generic Strategies This model is used to measure the competitive advantages to increase the growthopportunities of XYZ company. This helps in to gain over the competitors by offering consumers1
Planning for growth INTRODUCTION 1 TASK 11 P1. Key considerations for evaluating growth opportunities_3
greater value through lowering the cost or by providing benefits and services that can able tojustify high price. The Generic Strategies can be used to determine the direction of respectiveenterprise. This model is based on three types of competitive advantages that a business firm canserves that is low cost, differentiation and focus. These are further briefly described underfollows as:Cost leadership: It can be define as developing product along with high quality basedand provide to their customers at reasonable rate so this will attract large number of buyerstowards brand. It will assist in enhancing profitability and satisfy their customers by fulfilling allneeds and wants at affordable price. If XYZ company are required tio produce products atreasonable rate to sustain the large market position. Differentiation: According to this strategy, a respective firm seeks to be a unique in itsindustry with their different criteria that bring effects valued by buyers. It is necessary for acompany to bring differentiation so that they able to attribute more customers and meets theirneeds. This can be rewarded for its uniqueness at a premium cost, by applying this strategy itable to develop the growth of a respective business enterprise. This is required for company is todevelop differentiating services from other brand that will create unique image in the mind ofcustomers and encourage them for buying such facilities. Focus: In this aspect, generic strategy focus on the niche markets so that they can easilychoose narrow competitive scope with existing business enterprise which can improve theoverall growth of XYZ company. This helps in to target the customers which are selected on thebasis of segments or group of segment in the business world. For paid some loan amount, theyneed to decrease the price of products which help in enhancing number of buyers with makeimprovement in brand image. Focus strategy is classified into two category are as:Cost focus: Under this strategy, it is focused on cost advantage in their target segment.This helps in to exploit differences in cost behaviour in some segment that assist in toachieve desired objectives.Differentiation focus: In this strategy, it is focused on the explore of needs of thecustomers in specific segment of a business enterprise (Lu and et. al., 2013). This helps into increase the sale of their products and services that are acquired by the customers.2
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