logo

Planning for Growth - P1 Key Considerations

   

Added on  2020-10-22

19 Pages5286 Words143 Views
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............................................................................................................................................6P3 Assess potential sources of funding available to business................................................6TASK 3 ...........................................................................................................................................7P4 Design business plan for growth.......................................................................................7TASK 4............................................................................................................................................9P5 Assess exit or succession options for a small business.....................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13

INTRODUCTIONPlanning for growth is an important aspect which helps business concerns so that theycan expand or develop their overall market share. Small and medium business concerns aregreatly expanding in markets of UK. Also, these firms have numerous growth opportunities andoptions available that further enhance their overall customer base and market share. Managers ofcompanies in this context plan and direct employees so that they can further achieve excellencein business operations (Abolhasani and et. al., 2016). This report is based on Airdri which is small scale business near Thames Valley region, UK.Managers have recently over drafted a special facility arrangement with the bank of an estimatevalue of 2 million pounds. This report examines various consideration along with porter's genericmodel and Ansoff matrix. Different potential sources have also been identified in this report.Lastly various exit and options for SME's have also been stated here. TASK 1P1 Key considerations for evaluating growth opportunities.SME's in today's world has number of opportunities which further help them inenhancing their overall sales and profitability levels. For grabbing opportunities availableentrepreneurs timely get a market survey done so that they can gain information about what allopportunities are available in competitive market. Also, it helps in identifying what products andservices are being offered by competitors so that they can further assess their own products andservices. In present context, Airdri is a small-scale business unit that deals in manufacturing andsupplying hair dryers.There are a number of business firms that are operating currently in market hence it isquite important that entrepreneurs of these businesses carefully assess and examine resourcesrequired, skills of employees that will be helpful, etc. Launching new product to substituteproducts of competitors is the biggest growth opportunity which can be attained by Airdri bymanaging diversification in products. For this manager have decided about launching newproducts in men's range. These products can either be hair wax, gels, etc. All these factors canfurther be assessed by an effective model known as porter's generic model (Albert, 2017). Thishas further been explained in detail as under:1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Growth Opportunities and Funding Sources for Desklib
|20
|3617
|246

Growth planning in Airdri Limited
|14
|4773
|29

(Solved) - Planning For Growth Assignment
|14
|4299
|140

Planning For Growth - Assignment Solution
|16
|4854
|228

Planning for Growth Assignment - (Solution)
|15
|3644
|216

Planning for Growth in Homeground Cafe - Desklib
|17
|4263
|290