Assignment on Growth Planning
20 Pages5887 Words336 Views
Added on 2020-12-09
Assignment on Growth Planning
Added on 2020-12-09
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PLANNING FOR GROWTH
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3P1 Analysing key considerations that organization must consider while evaluating growthopportunities................................................................................................................................3P2 Evaluation of growth opportunities by Ansoff Vector Matrix..............................................5P3 Assessing different potential sources of finance which are available to business with theirsmerits and demerits.....................................................................................................................7P4 Preparing business plan in context of growth......................................................................10P5 Identifying options for success and exit in perspective of SMEs........................................15CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................19
INTRODUCTIONIn the present era, small business units are contributing in very effective manner incountry's economy. The present report will be giving brief description about ways that how SMEare move towards development and growth. There is presence of various applicability ofdifferent techniques which identifies opportunities for growth, appraise options foraccomplishing growth which includes via collaboration. In the present report, Ovation system asSME has been selected for understanding various concepts of operations of SME. Further it hasincluded different options which are undertaken by growth for optimizing it in differentanalytical framework for achieving competitive advantage. It has also evaluated all possible riskswhich are directly associated by selected growth strategy. In the same series it has assesseddifferent potential sources of finance which are applicable to Ovation system for growth andalong with these recommendations have been provided. Further the report has discussed aboutbusiness plan which is well structured and preferred for option for growth along with its strategicobjectives, methods and all essential components of business plan. In the last part it haselaborated about different exit strategy and succession options in context of Ovation systemwhich has been evaluated by merits and demerits with its repercussions.P1 Analysing key considerations that organization must consider while evaluating growthopportunitiesOvation system is a private organisation which has approximate 23 employees as it isbased on electronic design and manufacturing. Usually, it manufactures and supplies scramblingsystems, rugged digital video recorders, encryption and video surveillance equipments. It hasmaintained its status in this specific industry; but for innovation and growth capabilities it hadensured about different market demands and competitive dynamics for defending and
maintaining their competitive position. Ovation system must give special focus on thesedimensions for evaluating gaps and more plans for improvement (Forshey and Levitas, 2016).Management processes and metrics: There are different growth minded organizationsas they lean towards simple place, straightforward, and very well crafted processes forarticulating, identifying, executing and evaluating growth opportunities as it consist ofcore processes such as strong management focus on portfolio of growth, tracingperformance with scorecards and metrics and custom stage gate process for adaptingculture and operations.Financial aspects: The main objective of any organization is to invest some amount ofmoney with context of different potential opportunities to get more returns. So Ovationsystem must be able to conduct financial evaluation before making investment foridentifying that proposed investment will be giving suitable return or not. The results ofcash flow analysis and investment appraisal should be tracked in mind. Ovation systemmust be able to start business by assessing various monetary aspects.Competitive context: Organizations do not operate in vacuum as there is presence ofunderstanding various competitive threats and opportunities which are emerging inmarket place. The main motive of organization is to build and sustain competitiveadvantage over other firms. It must have capability for evaluating offerings of itscompetitor and even position. Innovation and productivity are main factors by which anorganization can accomplish success.Customer centric: It is one of the most obvious factors which every organization mustbe able to perform as they exist for delivering real value by fulfilling requirements andneeds of their target consumers. The organization who is customer centred must be ableto trace and understand dynamics of every customer (Rostamkalaei and Freel, 2016).Legal aspects: For carrying operations of business in very smooth manner, Ovationsystem must be complying with legislation and laws. If the legal framework is notcomplied in essential manner then it will directly affect brand image of organization. Formanufacturing electrical products, it has major requirement of license to fulfil other legalformalities. The growth option must be given as priority for evaluating legal agreement.Expansion plans: The growth of firm is directly associated by merger, acquisition andfranchise agreement as it expands operations of business and serves customers in huge
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