Planning for Growth Report

This report analyzes the growth opportunities for Ovation System, a SME in the electronic design and manufacturing industry. It examines key considerations for evaluating growth opportunities, evaluates growth options using the Ansoff Matrix, assesses potential sources of finance, and develops a comprehensive business plan for entering the Artificial Intelligence market. The report also explores success and exit options for SMEs, including selling the business and liquidation. Desklib provides past papers and solved assignments for students.

PLANNING FOR GROWTH

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
P1 Analysing key considerations that organization must consider while evaluating growth
opportunities................................................................................................................................3
P2 Evaluation of growth opportunities by Ansoff Vector Matrix..............................................5
P3 Assessing different potential sources of finance which are available to business with theirs
merits and demerits.....................................................................................................................7
P4 Preparing business plan in context of growth......................................................................10
P5 Identifying options for success and exit in perspective of SMEs........................................15
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
In the present era, small business units are contributing in very effective manner in
country's economy. The present report will be giving brief description about ways that how SME
are move towards development and growth. There is presence of various applicability of
different techniques which identifies opportunities for growth, appraise options for
accomplishing growth which includes via collaboration. In the present report, Ovation system as
SME has been selected for understanding various concepts of operations of SME. Further it has
included different options which are undertaken by growth for optimizing it in different
analytical framework for achieving competitive advantage. It has also evaluated all possible risks
which are directly associated by selected growth strategy. In the same series it has assessed
different potential sources of finance which are applicable to Ovation system for growth and
along with these recommendations have been provided. Further the report has discussed about
business plan which is well structured and preferred for option for growth along with its strategic
objectives, methods and all essential components of business plan. In the last part it has
elaborated about different exit strategy and succession options in context of Ovation system
which has been evaluated by merits and demerits with its repercussions.
P1 Analysing key considerations that organization must consider while evaluating growth
opportunities
Ovation system is a private organisation which has approximate 23 employees as it is
based on electronic design and manufacturing. Usually, it manufactures and supplies scrambling
systems, rugged digital video recorders, encryption and video surveillance equipments. It has
maintained its status in this specific industry; but for innovation and growth capabilities it had
ensured about different market demands and competitive dynamics for defending and

maintaining their competitive position. Ovation system must give special focus on these
dimensions for evaluating gaps and more plans for improvement (Forshey and Levitas, 2016).
 Management processes and metrics: There are different growth minded organizations
as they lean towards simple place, straightforward, and very well crafted processes for
articulating, identifying, executing and evaluating growth opportunities as it consist of
core processes such as strong management focus on portfolio of growth, tracing
performance with scorecards and metrics and custom stage gate process for adapting
culture and operations.
 Financial aspects: The main objective of any organization is to invest some amount of
money with context of different potential opportunities to get more returns. So Ovation
system must be able to conduct financial evaluation before making investment for
identifying that proposed investment will be giving suitable return or not. The results of
cash flow analysis and investment appraisal should be tracked in mind. Ovation system
must be able to start business by assessing various monetary aspects.
 Competitive context: Organizations do not operate in vacuum as there is presence of
understanding various competitive threats and opportunities which are emerging in
market place. The main motive of organization is to build and sustain competitive
advantage over other firms. It must have capability for evaluating offerings of its
competitor and even position. Innovation and productivity are main factors by which an
organization can accomplish success.
 Customer centric: It is one of the most obvious factors which every organization must
be able to perform as they exist for delivering real value by fulfilling requirements and
needs of their target consumers. The organization who is customer centred must be able
to trace and understand dynamics of every customer (Rostamkalaei and Freel, 2016).
 Legal aspects: For carrying operations of business in very smooth manner, Ovation
system must be complying with legislation and laws. If the legal framework is not
complied in essential manner then it will directly affect brand image of organization. For
manufacturing electrical products, it has major requirement of license to fulfil other legal
formalities. The growth option must be given as priority for evaluating legal agreement.
 Expansion plans: The growth of firm is directly associated by merger, acquisition and
franchise agreement as it expands operations of business and serves customers in huge

volume. In this context, Ovation system must provide special emphasis on performing
cost benefit analysis which will be indicating fair view of growth aspect. The
organization must chose appropriate option which is directly linked to opportunities
which is higher than cost.
 Team management practices: The base of competitive advantages is termed as presence
of effectiveness in managing teams. In the present era, growth can be sustained by
depending on ability of organization for coordinating critical information and resources
which are spread in various locations.
P2 Evaluation of growth opportunities by Ansoff Vector Matrix
Ansoff matrix is determined as planning model of marketing helps business for
identifying growth strategies of market and products as well. It gives recommendations to
business for growing and it must be directly linked towards new markets or products that already
exist or in new markets. The outcome of this strategy gives four elements such as market
penetration, product development, diversification and market development. The organisation is
able to generate strategies for future growth and success at distinct level (Chang, Fernández and
Gulan, 2017).
(Source: Growth decisions, 2018 )
The brief explanation about four elements is mentioned below:
Market Penetration
 It helps in maintaining and increasing
market of existing products by various
Product Development
 The main objective of business is to
introduce new products in existing

competitive pricing strategies, sales
promotion and advertising.
 The main motive is to give different
products and services to consumers at
low prices.
market. It must be having need for
developing new competencies and for
developing modified products of
existing market.
 Special focus should be given to R&D
and innovation department, first mover
advantage of market and providing
detail insights about customer
requirement.
Market Development
 Under this strategy, business must be
able to sell existing products in new
market.
 For approaching this strategy, Ovation
system can widen its reach by entering
new geographical market, new
dimensions of product, various policies
of pricing and distribution channels
which will attract its different
customers and it will tend towards
creating new market segments.
Diversification
 In this strategy organisation enters in
new market by introducing new
products as it is more risky due to
migration of business in markets where
it does not have experience.
There is presence of all these four options but in context of Ovation system, market
development strategy has been chosen by its owner. In this modern area, manager has taken
decision in context of offering its existing services and products by ensuring the highest possible
product quality and reliability. They are planning for their process of design and production to
get certificated by ISO 9001 which is quality management standards. The main objective behind
this certification is that as all PCBs are framed for highest standards and usually most products
are housed in rugged and they want to create competitive advantage. Ovation's main motive is to
create quality and all sub assemblies should tested in proper manner. In this strategy of market
development it will be enabling opportunity of organization for targetting the huge number of

people and to accomplish huge margin via giving convenience factor. They give special focus on
supplying products which are of the best quality and full support to their customers. In UK, trend
of sales is either directly given to end user or it might be through different number of systems for
integrating partners (Ng, Macbeth and Yip, 2017).
As per Ansoff matrix and stating current position of Ovation system, it has been
recommended that selling and offering products which are existing in new market. Applying this
strategy will tend towards focussing and serving on both new and existing customers. In context
of market development strategy it will be giving various advantages to Ovation system such as:
 The reach of its products and services in appropriate geographical region.
 Level of productivity and profitability has been increased.
While focussing on supply at best level will be able to enable Ovation system to target
more new people along with existing market. By offering support to its customers and best
product by direct sales to end user will be increasing level of profitability at very distinct level. It
is considered as most effective tool which will lead to develop the market and to explore more
operations in context of business (Wu, 2015).
Ovation system can also lay emphasis on market penetration strategy for attaining goals
and objectives. The organization can give importance to selling its existing product in present
market at low price as compared to its competitors. While evaluating it has been assessed that
after recession consumers have become very price conscious. In the present era, products are
been purchased by consumers to those retailers who provides discount at their product. By
applicability of these strategies, it will be enhancing level of profitability and profitability in very
efficient manner.
P3 Assessing different potential sources of finance which are available to business with theirs
merits and demerits.
The most essential aspect which every organization requires is termed as finance as it
helps in process decision making in aspect of expanding operations and functions in context of
business. Ovations system is framing plans for developing its market by giving excellent
technical support and backup for whole range. In this context, there are various sources of funds
by which Ovation system can attain its all financial requirement like:
Bank loan: The business unit can be raised by this source of fund as it is considered as
one of the major source which provides fund to various financial institutions. As it is an

manufacturer of electrical products so it can have bank loan on context of collateral security and
then it might create ability for executing plan in very efficient manner. While undertaking bank
loan, Ovation system must consider its various merits and demerits:
Merits
 It is recognized as most flexible source of fund as it gives convenience to organisation in
terms of instalment payment.
 Ovation system could get benefits of tax by applying bank loan as it will directly reflect
in financials in terms of profit margin.
Demerits
 In terms of monetary institution there is presence of payments of high interest which is
periodic which has imposed fixed obligation.
 Many times whole amount has been not sanctioned by bank which has been applied by
business entity.
Venture capital: it is termed as one of the type of private fund or equity which has been
provided by investor to all organizations which are emerging and has presence of very high and
potential growth. The business plan can be presented to venture capitalists owner of Ovation
system which creates ability for generating fund. It will be having capability for executing
expansion plan. Ovation system must consider merits and demerits of this stated source of fund:
Merits
 Financial assistance has been provided by venture capitalists and along with this it
provides guidance for both financial and non financial matters. Ovation system can take
decision in context of financial and human resource management.
 It fosters growth and helps in achieving great success to business by giving guidance in
context of tax, personal and legal matters as well.
Demerits
 The business owner loses control if venture capital gains more than 50% stake. It will
directly impact business operations and functions as well.
Debt Financing: It can be referred as medium for borrowing money from various
institutional or retail investors. The funds can be raised via issuing bonds, securities or bill
consideration for payment of interest and coupon. There are various requirements by
organization for specific working capital or for incurring capital expenditure. Its metrics are cost

of debt, Debt equity ratio and Interest coverage ratio (Debt Financing, 2018.). Ovation system
can use debt financing for raising fund but it must consider its advantages and disadvantages as
well:
Merits
 Control has been retained, when debt financing has been agreed for managing the
organization. It helps in process of decision making.
 The interest payment reduce net obligation as it is termed as tax deductible.
 It is used for framing budget and financial plans as in advance principle and interest
amount is known.
Demerits
 There is huge requirement of qualification and best credit rating for receiving finance.
 There is also need of financial discipline for repayments on time. Business which id
dependent on debt is termed as riskier by various potential investors.
 Collateral has been agreed to lender by putting some assets for potential risk.
 It may lead to high rates even after identifying discounting interest rate by deducting tax.
Retained earnings: It can be termed as amount which has been retained within business
will be giving direct reflection on dividend. The profits which are earned are re-invested in terms
of retained earning as they are paid as dividend. The main perspective of application of retained
earning is to finance for new investments instead of paying more dividend and to increases
equity for specified investments. It is major belief of Ovation system that it does not cost any
single thing but in simple words it can be elaborated as a source of finance which does not tend
towards cash payment. The main application of retained earning is to oppose new shares and
debentures which ignores the issuance cost (Keough, 2015).
Merits
 It does not involve any cost for acquisition. Ovation system does not have any obligation
for paying anything related to retained earning so it is termed as one of cheaper source of
financing.
 The financial position can be strengthen of business as it provides financial stability.
 It is one of advantage to shareholders of organization in context of dividend as
organization earns profit or not they get stable dividend.

 While strengthening financial position of organization it increases capital which helps in
increment of market value of shares.
Demerits
 If the objective is not stated properly then it might tend towards careless spending of
finance.
 The dividend policy which is conservative tends for accumulating retained earning is
huge aspect which leads to over capitalization.
 It is also and disadvantage to shareholders as it does not allow them to enjoy actual
earnings of organization. Generally it creates dissatisfaction in them but it affects market
value of shares.
Government grants: It can be used as source of finance for SMEs when any project or
initiative has been awarded for funding of government for financial support. Any grants in
context of business does not have any requirement for repaying or accruing interest for having
some specific guidelines for application. It is directly interlinked with efforts like job creation,
economy development and for empowerment (Grover, Bokalo and Greenway, 2014).
Merits
 It decreases the pressure on business owner.
 Money has been given for encouraging SMEs by providing free money with attractive
business plan.
 It increases the visibility and credibility of organization.
Demerits
 Before writing grant there is requirement of extensive research which is time consuming.
 There is need for very talented person along with best experience who is familiar to
Ovation system.
 There is presence of fierce competition so it impacts success rate in very low manner.
 These are usually short term, so they must be able to convert and invest it as soon as
possible by giving margin.
P4 Preparing business plan in context of growth
Overview
The present market is stating the trend of digitisation, Ovation system is planning to enter
in world of Artificial Intelligence. It will be manufacturing products for virtual products such as

censor as it had already manufactured the rugged digital video recorders, encryption and video
surveillance equipments. In the present era, everybody is moving forward along with trend of
Virtual reality. Now by considering this aspect, Ovation system is giving convenience and
satisfaction to their consumers by planning to contribute in AI by manufacturing censor for
virtual reality. By manufacturing censor it will provide various applications to its customer, out
of which they can choose appropriate which is more useful according to requirements. Along
with perspective of small manufacturing business has objective of maximising sales and to built
brand image in this specific industry. There is presence of detailed plan which can be applicable
for attaining this specific objective:
Goals
 To gain huge market share in its manufacturing industry.
 To create brand image and competitive advantage in context of Artificial intelligence.
 To generate sales and increase profit margin by 30%.
SWOT Analysis
Strength
 Its product portfolio is very broad as it
manufactures encryption of video
scrambling, Media card archiving,
Video stabilization.
 Its global presence is in many countries
such as Turkish, France, Italy and many
more (Tian, 2016).
 Its employee base is very strong in
context of to SME.
 It caters customer base in huge aspect.
 It is considered as one of the most
reputed SME in electronic company.
Opportunity
 Inorganic growth can be highly focused
via outsourcing some skills.
 There can be various tie ups for
distribution which will help for
penetrating in new areas.
 Ovation system has given flashback-2
Digital recording system which will be
deploying Royal National Lifeboat
institution in very successful manner
for making video recordings in very
dramatic view.
 Artificial Intelligence in context of
virtual reality.
Weakness Threat

 It relies on outsourcing and demands of
its services and products which have
been originated from industry of
semiconductor.
 Its sales are cyclical which are
replicated as period which is marked in
boom and slump.
 There is presence of very intense
competition in context of franchises,
availability of product and prices.
 Majority of revenue has been generated
from international business so this
replicate threat of global fluctuations
will directly impact the organization.
Pestle Analysis
Political Factors
 Political stability and its significance of
wholesale sector of electronics in
economy of country.
 Presence of risk of military invasion.
 Enforcement of contract in legal
framework.
 Government interference and
bureaucracy
 Requirement of product labelling
 Protection of Intellectual property
(Colantoni and et. al., 2016).
 Anti- Trust laws in context of
electronic industry
 Corruption level usually in service
sector.
Economic factors
 Exchange rate and level of stability of
currency of host country.
 Skill level of staff of electronic industry
 Interest rates
 Economic growth rate
 Quality of infrastructure
 Economic growth rate
 Efficiency in financial markets
 Unemployment rate
 Productivity and labour cost in
economy.
 Inflation rate
 Stages of business cycle
Social Factors
 Demographics and level of skill of
population
 Leisure interests
Technological Factors
 Technological development such as
entering artificial intelligence
 Product offering due to impact of

 Level of education and standard as well
in Ovation Industry
 Culture
 Structure of class, power and
hierarchical in society.
technology
 Value chain structure in service sector
 Advanced technology be competitors
Legal Factors
 Employment law
 Intellectual property law
 Copyrights and patents
 Health and safety law
 Discrimination law
 Data protection
Environmental Factors
 Climate change
 Waste management in service sector
 Weather
 Air and water pollution regulation in
electronic industry
 Attitude in context of renewable energy
Marketing Mix or & Ps
 Product: The unit of business will be serving its customers with huge variety of censors
which can be used for virtual reality products in artificial intelligence. In this scenario, it
will be termed as B2B and its customers will be alternative business.
 Price: Ovation system will follow penetration pricing strategy which will be directly
impact the purchasing decision of business. As in this case censor will be purchased by
organization who are manufacturing products of virtual reality so customers will take
decision accordingly (Ghezzi and et. al. , 2015).
 Place: It will be developing a website which will be giving full information about censor
along with its application in various products. It will offer its services to only licensed
business.
 Promotion: For promoting its product, Ovation system will be undertaking both
traditional and modern method as well. It will appoint sales man who will be setting
meeting with different business and then its features will be communicated. On its
website portal, this product will be advertised by its benefits and price range.
 People: It will be directly appointing most talented and qualified personnel for delivering
services in very quick and effective manner.

 Process: Ovation system will be following standardized process which will be taking
bulk orders and distributing it by home delivery to its customers.
Analysing its competitors
Basis of difference Ovation system Oxalis Compound security
Employees It consists of
approximate 70
employees.
It consists of
approximate 40
employees.
It consists of
approximate 50
employees.
Revenues 17.70 Million 15.75 million 16.75 million
Product services Manufactures and
supply rugged digital
video recorders,
surveillance
equipments,
scrambling systems
and encryption.
Manufactures and
design solutions of
security and
surveillance and
closed circuit TV
camera stations, public
or general alarm
systems and other
electrical products.
Manufactures alarm
systems and security
products along with
various security
systems such as GSM
and GPRS alarm
systems, PIR sensors,
power supplies,
security switches and
timers.
Strategy for pricing It follows strategy of
penetrating and
competitive pricing.
Competitive pricing
strategy has been
followed.
Via resellers in Europe
and internationally.
Place Exploring its
operations in different
countries and via
website.
There is presence of
both wholesale and
retail stores in UK.
It has lack of
promotional policy but
has physical outlet.
Financial plan of Ovation system
The financial viability of business plan which is proposed can be traced by preparing
profit and loss statement as it will be providing clear view of profit margin which will be obliged
by firm. The monetary requirements are fulfilled by very optimal structure of business which

will be evaluating both internal and external sources. To reach gross profit there is requirement
of deducting all direct expenses from sales revenue and for identifying net profit all indirect
expenses are reduced from operating profit. The sources of funds which are taken by business are
elaborated as below:
Internal source: 80000 pounds
External source: 35000 pounds
Income statement for business plan (proposed)
Particulars Year 1 (pounds) Year 2 (pounds)
Revenue
Software revenue
Fees of software 19000 24700
Total revenue 19000 24700
Expenses
Salaries and wages 1300 1690
Maintenance of technology 780 1014
Rent 500 650
Employment benefits 250 325
Marketing and travel 900 1170
Public relations and advertising 700 910
Office expense 1000 1300
Hardware acquisition 3000 3900
Depreciation 860 1118
Web hosting expense 1500 1950
Equipment leasing cost 950 1235
Insurance expense 600 780
Utilities and Phone [phone]
Other 600 780
Total expense 14340 18642
Operating Income 4660 6058
Less: Tax @ 21% 978.6 1272.18
Net Income 3681.4 4785.82

P5 Identifying options for success and exit in perspective of SMEs
For sustaining in this competitive world, there is huge requirement of succession
planning for long term growth perspective. The operations and functions of business can run
smoothly by developing and succession plan. There is presence of different plans and options in
context of giving very high level of assistance in pertaining activities in very efficient manner
while individuals skips to unique opportunities and work on them till last time. Ovation system
can achieve huge success and achieve goals and objectives by giving special focus on stated
success options below:
 Planning for long term perspective and effective leadership: The effective plan can be
developed by identifying future alterations by which Ovation system can attain goals. For
evolving high level of satisfaction among employees participative leadership style has
been exercised which directly concern with both business unit. Employees get huge
motivation when they are considered as important part for various activities of
organization such as planning, budgeting and for execution of achieving goals (Yudha,
Tjahjono and Kolios, 2018). It tends towards level of employment satisfaction. The
organization can retain qualified and talented personnel for long term perspective by
applying this effective leadership style and this approach. By the application of success
plan business unit can attain specific goals in the time frame which has been predicted.
 Session for training and development: The skills can be enhanced and developed along
with level of proficiency of various personnel of Ovation system who gives special
attention for setting session of training and development. The session of training
increases capability of personnel in context of performing different activities related to
business. In the case of Ovation system, manager organizes training session which helps
in creating ability of employees in context to deal with different aspect of other
technologies and alterations. In the same series, any organization can develop most
talented workforce by developing training session and it will be providing services in
very qualitative manner to its customers. The option of succession will contribute very
effectively in productivity and profitability of organization. On very important note, it
can be considered as any firm has to incur cost for conducting training session when there

is introduction of all alterations. The most important thing which can be determined as
drawback as financial expense (Zhang and et. al., 2015).
Options for Exit: The operations of business can be performed by owner of Ovation
system which is applicable for selling business to potential person or for liquidation purpose.
There is presence of different descriptions of this suitable exit option to various small business
are elaborated as below:
 Selling business or process of acquisition: Usually in the present it can be undertaken
by all big firms for expanding their business operations along with functions. Because of
absence of proper management and low strategic framework many business operations
are not handled by its owner in very effective manner. On its contrary, the organisations
which are performing very good in context of finance then they gain interest in acquiring
other organization whose performance in context of customer base is very good. By
considering all aspects it can be represented that selling that specific business unit to
other in terms of acquisition by which Ovations can exit from specific venture. Its
advantages and disadvantages are elaborated below:
Advantages
 The acquisition strategy can be employed by Ovation which gives appropriate balance
with interest of stakeholders at extent level.
 Usually in context of acquisition, various business unit does not alter the base of
employee, suppliers and many more (Rakićević, Omerbegović-Bijelović and Lečić-
Cvetković, 2016).
 Brand image and market share has been repaid by acquirer organisation.
 Ovation system has gained opportunity for process of negotiation and to generating more
funds.
Disadvantages
 It can be refereed as most intensive process as it includes huge aspects like procedure of
documentation, formalities and negotiation etc.
 The culture of both organization varies from each other which might create issues.
 All these aspects are directly influenced by importance of strategy and process of
acquisition.

Liquidation process: It can be replicated as one of the voluntary process which is
applicable for closing any unit of business operations. On the same context, Ovation can close its
operations by selling it's all assets. On the context of liquidation, the payment has been made by
creditors by various organization and fund has been generated by selling various assets. The exit
option can be evaluated on various aspects:
Advantages
 There is not requirement of competent plan of transition by Ovation system.
 Negotiation aspect has been not presented which will be facilitating settlement or quick
dissolution.
Disadvantages
 Sometimes business has to sell assets in discounted price.
 If the objective of organization is to quick sell of assets and to stop its operations then it
will directly affect profitability aspect in negative manner along with shareholders at
distinct level.
By performing this assessment it can be elaborated that option selling business is more
preferable. The main objective is to decrease competition level and to increase growth which is
leading or any big business is giving special focus on retaining the profitable organization. In the
same series there is presence of prospective buyers who are ready to give high for the
organization whose brand image, customer base and management is performing in sound manner
(Brown and Mawson, 2016). So according to this Ovation system is more beneficial by selling
its business in context of monetary aspects.
CONCLUSION
From the above report it can be concluded that ovation system can asses its growth
opportunities via evaluating various aspect of competitive advantage, merger, franchise,
acquisition etc. it can be articulated that Ovation system can achieve desired level of result or
success by giving special emphasis on different aspect of market development. Further it can be
concluded that via process of liquidation or selling business to other exits from or for winding its
operations in context of business.

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