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Planning for Growth - Guildford Tyre Assignment

   

Added on  2021-02-20

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Planning for Growth

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 ................................................................................................................................................3P2 ................................................................................................................................................7TASK 2............................................................................................................................................8P3 ................................................................................................................................................8TASK 3..........................................................................................................................................10P4 ..............................................................................................................................................10TASK 4..........................................................................................................................................15P5 ..............................................................................................................................................15CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................18.......................................................................................................................................................21

INTRODUCTIONBusiness growth is very much exciting factor for an organisation and it can be possibleby bring changes in business activities. This is considered as firm act that helps to proprietor toformulate idea and measure growth of an organisation regarding their revenue. It permits them toallocate resources for centred effort in adopting changes by bringing digital disruption anddifferentiation in their products and services. There are some steps that help in reaching definitegoals and objectives to bring growth in organisation by bringing major changes in areas that arevery much crucial for an organisation. The given study is supported on Guildford Tyre Companythat is a private organisation that manufactures tyres and established in year 1976. They also dealin many spheres in which reparsing, brakes, air conditioners and batteries with many moresectors. The presented assignment covers growth opportunities that exist before an organisationto lead in competitive market with focus on various strategies to evaluate opportunities to remainalways leading. To attain growth organisation have to evaluate funding sources and their benefitswith drawbacks and to plan organisation have to prepared a business plan by gather variouskinds of information and strategic objectives in proper way.TASK 1P1 The firm and organisation always enlarges their business opportunities and it is very muchnecessary for a tiny concern to grab chance in effective manner (Barbour and Deakin, 2012). Toenlarge businesses opportunities organisation have to build an efficient business plan andpolices. Guildford Company of tyre which is a small business consists of fewer employees thatgive their services. It is very much obligatory to grab opportunities in correct manner to attainorganisational end and results in proper way.Competitive advantageThey are considered as one of the most crucial factors for an organisation to producegoods and services at cheap cost to bring desirable goals and objectives (Beatley, 2014).Guildford tyres which are a small tyre manufacture company that to attain growth design anddevelop strategy that helps in gaining competitive advantage. The major competitive factors infront of Guildford tyres that they are rare in nature and focus on giving best quality of productsand services to their ultimate consumer base. There main important components that helps in

giving competitive advantages that are high performance tyres with durability, comfort tyres,pricing, grip of tyres and cornering with braking are major factors that helps to differ from theirfierce competitors in better way. There major resources high quality la-tics that gives its tyresdurability and comfortability. It can be only possible by identifying the greater opportunities thatare political support and financial assistance that possess by that organisation that ultimatelyproved helpful for them to gain opportunities in positive manner. In order to achieve competitorvantageadministration have to follow or build several strategies that are as follows:Competitive advantage milestone for advancementFor achievement of competitive advantage system have to accumulate resources,capabilities and core competences that helps in evolutes’ various factors. To evaluatecompetitive strength of an organisation they use porter's generic strategies that are describedbelow:Porter's generic strategies:CostleadershipCost leadership is one of the most important tactics and plan that helps in build andistinctive strategy by setting price at low rate (Chapin, 2012). In context of Guildford TyreCompany they avail various kinds of tools and methods that help in evaluate needs and demandsof consumers and accordingly organisation plan to expand. Differentiation strategyIn that strategy products and services should be offered in innovative way that helps increate brand loyalty in front of consumers and enlarge business opportunities (Denton, Forsythand MacLennan, 2017). That strategy and tactics helps to evaluate major areas in whichinnovation is very much potential for an organisation and accordingly they conducting researchto stayforevercompetingat marketplace. In context of Guildford Tyre Company they use strongquality products and at low cost that assistthem for remaining always competitory inmarketplace.Cost focusThe organisation Guildford Tyres company majorly focus on providing product andservices that are advanced in quality having downprice. With the help of various strategies,organisation can be able to find out major spheres in which sphere major improvements arenecessary to range at desiredend and outcomes. By conducting market research and analysis

before launching a new product or service in to market. For instance various types of scheme andtactic help to structure to develop various goods and services as per the requirement of serviceusers. Differentiation focusThe major market and consumers of Guildford tyre company by enhancing innovation intheir products and services that help in enlarge business opportunities in better way. By addingfeatures that are major demanding areas of consumer needs and wants that directly and indirectlyenhance brand loyalty in marketplace. With the aid of differentiation scheme organisation can becapable to compete in competitive environment and gain sustainability in market.Competitive advantage for opportunities for growth:For every organisation to attain growth and enhancement is very much obligatory tosurvive for long term in market place, organisation with help of PESTEL analysis can understandthe growth opportunities exist in market, capabilities of organisation with various operations thattook place that are as follows:PESTEL Analysis:Political FactorsIt is crucial for an arrangement to do evaluation of all factor ahead expanding theirmarket share (Galland, 2012). In context of Guilford Tyres Company that aimed to expand inmarket of Spain and before expanding in that market it properly evaluate each and every factorsuch as policies, rule and regulations and many more factors so that if it faces any kind of barrier,organisation can adopt measures to reach at desirable outcomes in better way. So it is very muchimportant to do proper evaluation of all before enlarging in other market to increase businessopportunities in better way. As Guilford Tyres Company have the opportunities to enlargebusiness opportunities that they are unique in marketplace and their resources and financialcapabilities assist them for remaining competitive in activity. With this they have great accesstowards political boundaries that aid for reaching more number of consumers. Economical FactorsEconomic factors are very essential for firm in order to deal in effectual mode whileoperating in foreign market (Glock, Jaber and Zolfaghari, 2012). In context of respectiveorganisation, they want to expand its business in market of Spain so for that they have to doproper evaluation of different component before going in that market in which credit rates,

inflation rates, purchasing power of consumers and many more factors helps to an organisationto take important decisions before expanding in foreign market scope in positive manner. Incontext of Guildford tyres that they are financially strong and can come with new products andservices that helps to draw attention of large no. of consumer base in positive way. That factorassist them to gain new opportunities that proved fruitful to enlarge business opportunities.Social FactorsIn social factor consist of norms, values and beliefs that are very important for anorganisation to build a distinction image in front of their consumer base in positive manner. Incontext of Guildford Tyre Company before expanding in foreign market they evaluate thenecessity and privation of their users, their purchasing power and taste and preferences and theirbuying habits are all important factors that are very much important for reaching at desiredendand outcomes in better manner.Technological FactorsFor an organisation to stay forever competitory at market place they have to makegoodand work that are technologically advance that helps for remaining always in directing point inmarket. While expand in market organisation have to evaluate instrument and method of theircompetitors so that they can accordingly adopt technology to remain always competitive inmarket place. They are sound in technical knowledge and to attain advance products and servicesorganisation need to analyse need of today's competitive factors to build products that can beable to give competitive advantages in positive way. Environment FactorsEnvironment is one of most important factor in which climate, surroundings and weatherconditions are crucial while expand business in competitive world (Horowitz, 2017). In contextof respective organisation that to attain opportunities firstly measure environment that favourableor not as per their requirement to gain long term growth in market. So these factors are verymuch crucial to gain economic advantage for an organisation to deal with competitive market.Legal FactorsWhile going and expanding business in foreign market organization have to evaluatevarious laws and regulations of an country so that they take proper actions before going into thatparticular country in positive way (Keough, 2015). In context of Guildford tyre company theyproperly evaluate working conditions and labour laws before going in that market to remain

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