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P1 Analysis of key considerations for evaluating growth opportunities

   

Added on  2020-12-24

15 Pages4431 Words401 Views
Planning for Growth
P1 Analysis of key considerations for evaluating growth opportunities_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analysis of key considerations for evaluating growth opportunities and justifyconsiderations..............................................................................................................................1P2 Evaluation of opportunities for growth applying Ansoff’s growth Vector Matrix................3TASK 2............................................................................................................................................4P3 Sources of funds available for businesses and discuss benefits and drawbacks....................4TASK 3............................................................................................................................................6P4 Design a business plan which includes financial information and strategic objectives.........6TASK 4..........................................................................................................................................10P5 Assess exit or succession options for a small business explaining the benefits anddrawbacks..................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13.......................................................................................................................................................14
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INTRODUCTIONPlanning is one of the basic function which is required to be followed by managers to runand expand business in effective and significant way. As these days competition is increasingwith rapid speed, so expansion of business is one of the essential component which has to beconsidered. In case managers are not thinking to expand business, hen they will run out of raceand people does not recognise them (Barbour and Deakin, 2012). Growth can be done whensome new features are added to product and services. There is need of proper planning related toexpansion of business, sop this will fruitful for achieving targets. This report is based on Crocus.Co. UK which deals in online retailing of plants and gardening. They also give bird house,feeders, hedgehogs, etc. In this report there is discussion about key considerations for growthprospects, sources of funds, business plan and exist and succession options. TASK 1P1 Analysis of key considerations for evaluating growth opportunities and justify considerationsGrowth of business is one of the essential component which has to be considered bymanagers. As there are many changes which are taking place in business environment, so it is
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essential to come with approaches which are competent to it. Crocus. Co. UK deals in onlinebusiness of plants and gardening. There are any growth opportunities for Crocus. Co. UK whichis significant for making good image in market and providing satisfaction to customers. As there is requirement of various resources through which business operations can beperformed in effective and efficient manner. Crocus. Co. UK has to work according to demandof customers. As managers of Crocus. Co. UK are thinking to launch online consultancy servicesregarding planting which helps to provide satisfaction to customers. So there is requirement ofproper planning which is effective for growth and actions are performed accordingly(Brinckmann, Grichnik and Kapsa, 2010). Porter generic model is one of the best approachwhich helps to know about capabilities, resources and core competencies of Crocus. Co. UK.This is discussed in detail as under-(Source: Porter's Generic Competitive Strategies, 2016)Cost leadership- This is the approach which focus on costing lowest in the industry. Thiscan be possible when managers of Crocus. Co. UK use resources from optimal source and utilisethem in most effective and appropriate manner. When managers of Crocus. Co. UK collectplanting resources collectively through which economies of scale can be achieved. Differentiation leadership- As there are some competencies which is unique in Crocus.Co. UK as compared to others. It is essential to set price of that services premium such asCrocus. Co. UK provides accessories for taking care of plants, etc. This provides edge over otherorganisations. Illustration 1: Porter's GenericCompetitive Strategies
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