Planning for Growth Assignment : Southern Business Technologies
Added on 2020-12-30
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PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Analyse key consideration for evaluating growth opportunities ......................................3P2 Evaluate the opportunities for growth by applying Ansoff's growth vector matrix..........7TASK 2..........................................................................................................................................10P3 Sources of funding available for companies with its advantages and disadvantages.....10TASK 3..........................................................................................................................................11P4 Business plan for growth of organisation........................................................................11TASK 4..........................................................................................................................................13P5 Exit and succession option for small business................................................................13CONCLUSION..............................................................................................................................14REFERENCES .............................................................................................................................15
INTRODUCTIONPlanning can be considered as the procedure of managing organisational functions andactivities to achieve future goals and success. In this, various strategies and action plans areincluded to operate business and its activities in appropriate way. Planning should be effective asit is essential for increasing market shares and future growth of business. On the other side, manyof organisations undertake planning process to achieve sustainability and economies of scaleduring small business entities (Barbour and Deakin, 2012). This is helpful in providing properinstructions and guidance to the people towards particular goals or objectives so that they canachieve those in better ways. This report is based on Southern Business Technologies thatsituated in Themes Valley area in the UK. This company provide several services in south suchas telecommunication, line rental, phone systems, mobile and high speed broadband connectionin the marketplace. The report will evaluate growth opportunities and justify considerations. Inthis, application of Ansoff's growth matrix and other approaches is done in order to raise funds.This assignment will assess potential sources of funds with benefits and drawbacks. Businessplan for growth including financial information and strategic objectives will also be discussed inthis project. TASK 1P1 Analyse key consideration for evaluating growth opportunities Every organisation want to achieve growth and success for which they carry out theirbusiness operations and activities with the purpose of earning business objectives. Companydevelop short and long term goals so that they can achieve their ultimate vision and missions.There are numerous competitors present in the market and each organisation wants to establish astrong reputation so that it can give tough competition to other rival teams (Brinckmann andGrichnik, 2010). For this, they require to keep on modifying their activities and operations sothat they can effectively survive in competition. In order to achieve growth, organisation shouldplan their future activities and carry out research and investigations in order to know about thecompetition and market. Proper planning and research facilitate organisation to develop moreeffective strategies which leads to better profits and revenues. Company develop and manufacture innovative and creative product so that they can takea leap in the market. Southern Business Technologies is dealing in communications.They are
one of the oldest business telecom specialists situated in United Kingdom. They provide low costtelephonic services, line rentals, phone systems, mobile and high speed broadband connections.As they are one of the oldest company, they plan their future activities in order to expand theirbusiness. With a proper growth plan, company has seen the turnover rise to 4 millions Euros in2007 to 9 millions Euros in 2009. They have enjoyed a great rise within two years and weresuccessful in making there name in Sunday Times Tech 100 league table.By progressing andmanaging all business operations in proper manner, they have more than 80 employees workingacross ranges of disciplines such as engineering and sales to customers and accounts (Kapsa,2010). With successful growth plan, they are now being counted under good business in theThames Valley Region. For achieving success and growth, managers and other superiors have torun different researches and investigations in order to get idea about market and competitors. Following are some stargates and model which they implement in order to get accurateidea about different factors: Porters generic strategies:This is used by managers in order to describe competitive advantage achieved bycompany across its market. It is key challenges for company to identify a way in which they canhelp them to pursue sustainable competitive advantage over rival company's products andservices in the market. It includes four main elements and they are mentioned below:Cost leadership: Company utilise this strategy in order to achieve high return on theirinvestments. They have set up lower prices of their products or services in the targetmarket (Burton, 2010). Key aim of Southern Business Technologies is to provide qualityproducts and services to their potential buyers in effective manner. Cost focus:In this, company focuses on lowering the cost advantage in one or a smallnumbers of market segment. Southern Business Technologies mainly focuses on nichemarkets and understand the needs and requirements of customers. By this, Southernbusiness technology develop and set low cost for their products and services. By servingcustomers in effective manner, they try to build better relations with customers. Differentiation focus: Company opt this strategy in order to attract customers towardstheir products or services by manufacturing innovative and creative product incomparison to other competitors. Southern business technology can develop betterproducts by performing appropriate research. It will provide them better idea about
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