Planning for Growth: Evaluating Opportunities and Strategies for Expansion

This document discusses the key considerations for evaluating growth opportunities, applying Ansoff's growth vector matrix, assessing funding sources, and designing a business plan for growth. It explores the case of Ella's Kitchen, a small-scale organic baby food company, and provides insights into their strategies for expansion.

Planning for growth

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
P.1 Analyse key considerations for evaluating growth opportunities and justify these
considerations within an organisational context.........................................................................1
P.2 Evaluate the opportunities for growth applying Ansoff’s growth vector matrix..................4
M1. Analytical framework of growth.........................................................................................5
D1 Critically evaluate specific options and pathways for growth, taking into account the risks
of each option and how they can be mitigated............................................................................6
P.3 Assess the potential sources of funding available to businesses and discuss benefits and
drawbacks of each source............................................................................................................6
M2 Evaluate potential sources of funding and justification for the adoption of an appropriate
source of funding for a given organisational context..................................................................9
D2 Critically evaluate potential sources of funding with justified argument for the adoption of
a particular source or combination of sources, based on organisational needs...........................9
P4/D3. Design a business plan for growth that includes financial information and strategic
objectives for scaling up a business..........................................................................................10
M3. Develop an appropriate and detailed business plan for growth and securing investment,
setting out strategic objectives, strategies and appropriate frameworks for achieving objectives
...................................................................................................................................................12
P5 Assess exit or succession options for a small business explaining the benefits and
drawbacks of each option..........................................................................................................12
M4 Evaluate exit or succession options for a small business comparing and contrasting the
options and making valid recommendations.............................................................................13
D4 Provide critical evaluation of the exit or succession options for a small business and
decide an appropriate course of action with justified recommendations to support
implementation..........................................................................................................................14

CONCLUSION..............................................................................................................................14
References:.....................................................................................................................................15

INTRODUCTION
Growth planning is considered as planning for expansion of business which is helpful to
earn more profit and to create more reputation for business (Cheah, Amran and Yahya, 2019).
Every business aims and work for growth. Planning for growth is also essential for allocating
resources equally at workplace and to focus on productive activities rather than unproductive
activities. Ella's Kitchen is a company which make organic baby and toddler food and in
supermarkets internationally in many countries. The company was founded in 2006 by Paul
Lindley. It is headquartered in Henley-on-Thames, UK. It is an small scaled business with 94
employees. The following report covers BCG matrix, McKinsey 7S model, Ansoff matrix
analysis in context of Ella's Kitchen, funding sources of companies and their benefits and
disadvantages, business plan for growth that includes financial information and strategic
objectives for scaling up a business and exit or succession options for a small business and their
benefits and drawbacks.
MAIN BODY
P.1 Analyse key considerations for evaluating growth opportunities and justify these
considerations within an organisational context
Boston Consultancy Group Matrix- This model is used to determine that where to invest
in product which help to achieve future growth(Yahya, Khatami and Al Khansa, 2020). BCG
matrix of Ella's Kitchen is explained below-
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Star- This category of products consist of high market share with high market growth.
This category consist of high competition and require high investment to compete in the market.
Ella's Kitchen is a small scaled company which did not have huge investment which means they
are not going to apply this strategy. It is suggested to adopt this strategy only in case where
company is sure that their new and unique product will help them to lead the market.
Question mark- It consist of low market share in high market growth(Chirico and et. al.,
2020). Less investment is require in this strategy where company grow at high speed. Good
analysis of market is needed in this category. It is suggested to Ella's Kitchen that firstly analyse
marketing requirements then apply this strategy.
Cash cow- This strategy generates cash in excess to operate business. They are having
low market growth with high market share. Generally the products fall in this category generate
returns that are much higher than market growth rate.
Dog- this category has low market growth in low market share. This is the situation
where company faces losses. There is no scope of growth. Investors start de investing their
investment from this type of products. Hence, it is good to shut down the business in this case.
McKinsey 7S Matrix- This model is useful to analyse internal environment of a company
(Shaqrah, 2018). McKinsey model of Ella's Kitchen are explained below-
Strategy- These are the plans which is made to compete in competitive industry.
Strategies are made to achieve organisational goal after considering all factors. In context of
Ella's Kitchen, they adopt the method of ECRM which stands for electronic customer
relationship management, which means company maintain good relationship with their
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customers through internet. They adopt online services like online order, online payment,
complaints of customers received online and many others. Hence, this element of McKinsey
model is managed properly by Ella's Kitchen
Structure- This element describe that how the organisation is structure and in which way
that defines who must report to whom in organisation for smooth functioning (Cotei and Farhat,
2018). Ella's Kitchen follow horizontal organisational structure which consist of fewer number of
management team. This structure is followed by company because there are only 94 employees
in this company which does not need many supervisors or senior authority in the organisation.
Larger the number of employees need more supervisors and more departments and on the other
hand less number of employees need less supervision. That's why they follow horizontal
structure in their organisation as their employees are less in numbers.
Systems-These are daily activities or task which is done by employees to get the job done
on time. In context of Ella's Kitchen, they receive order through online as well as through offline.
This orders are received by their HR manager, then they passes the information to their staff
members about all the requirements of customers and according to that they manufacture the
product, then at the final stage superior power check the food products and packed it and
transport it to their customers.
Staff- This element consist of number of employees and their capabilities(de Souza
Gutierres and et. al., 2020). There are total 94 employees in Ella's Kitchen and their capabilities
are high because they are hired on the basis of their good skills and talents. They are self
motivated and can work in any condition whether the order is high or low. Hence, Ella's Kitchen
managed their staff perfectly.
Style- It consist of the style of leadership adopted in the organisation. In context of Ella's
they follow participative leadership style as they have few superior powers who control all
employees and in taking any decision like change in packaging, introducing new product and
many other decisions, they take suggestions from their workforce. They have less number of
employees which work together like a family. Hence, their leadership style help them to achieve
appropriate profit.
Skills- The actual skills and talents of employees comes under this component of
McKinsey model (Dubey and et. al., 2020). Ella's Kitchen hire only skilled employees who has
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good skill of analysing marketing conditions and demand of customers. They also focus on skills
related to maintaining good relationship with customers.
Shared Values- These are the core values of company, general work ethics and etc. In
Ella's Kitchen, they always make sure that their culture must be perfect for making good working
environment at workplace. Their management take workers decisions before taking any decision
which create well-being in company.
P.2 Evaluate the opportunities for growth applying Ansoff’s growth vector matrix
Ansoff matrix is also called market expansion grid, this tool is helpful in analysing and
making strategies for growth of business (Fan, Huang and Chen, 2019). The Ansoff Matrix of
Ella's Kitchen is explained below-
Market Penetration- this strategy focuses on increasing sale of already existing product in
existing market. This strategy is basically applied to gain more customers in already known or
working country. In context of Ella's Kitchen, they sell their product in many countries but their
main aim is to gain maximum customer from UK which is their home country. They are
investing more on promotional criteria for their products. Hence, they are recently working on
market penetration strategy. It is suggested for the company to adopt many ways together for
market development like – providing good services, sell products at lower cost to their home
country and etc.
4

Product Development-It considered to focus on introducing new product in existing
market(Fatima and Bilal, 2019). This strategy is an another way to gain more customers by
targeting different segment of market. In context of Ella's Kitchen, they deals in baby food
products. They did not introduce any new product from longer period of time. Their strategy is to
gain growth with existing product. Hence, this strategy is not adopted by Ella's Kitchen but they
can grow well in case of adopting this strategy. It is suggested for the company to made many
other products with baby food products like baby cloths, baby foot wears and many others. This
strategy is helpful in gaining more customers from UK.
Market Development- This strategy focuses on using existed product in new market. This
strategy is applied to expand business in other countries. The most important factor in this
strategy is to proper analyse of external environment of business(Globocnik, Faullant and
Parastuty, 2020). In context of Ella's Kitchen, they are not a large scale company who is having
enough funds, they have limited funds and limited employees in which they are not supposed to
grow their business and start manufacturing products in another countries. It has been suggested
to Ella's Kitchen that this strategy is best to gain more customers and to grow internationally
with high reputation. They can apply this strategy by introducing their existed product in new
market by starting from small level like a small company or a small manufacturing area.
Diversification- It consist of introducing new product in new market. This strategy is considered
as most risky strategy. This strategy contain huge amount of fund in new but unknown area. So,
there is no guarantee whether the company gain profit or not in a new area. Ella's Kitchen did not
focus on this strategy. To make this strategy useful they must have good amount of funds and
secondly they must know the demand and needs of customers presented in another country.
M1. Analytical framework of growth
From the above information, it is critically evaluated that BCG matrix analyse the future
growth and Ella's Kitchen fall in question mark strategy where they have high market growth in
low market share which means they grow at a high speed but their market share is not as high as
needed by the company. Hence to convert the company into star from cash cow they have to
invest more in their product by analysing market requirement and by expanding their business as
soon as possible with their efficient operations. Secondly, McKinsey 7S model is used to
determine internal factors which impact upon company like no. of employees, leadership style
and many others(Gumel, 2019). It is evaluated that all factors of this model is favourable for
5

mentioned company. But it is further suggested that, company must divide their work in
departments and they also require more employees as this company is at the stage of fast growth
in market. Hence to handle all situations, they need more employees. It is seen that Ella's Kitchen
is working upon market penetration strategy which means they are focusing on growth of their
existing product in existing market. They are also focusing on market development by selling
their products internationally. They are required to focus on product development by lunching
new products like kid's toys.
D1 Critically evaluate specific options and pathways for growth, taking into account the risks of
each option and how they can be mitigated
There are many types of ways in which company can grow in the market(Inch, 2018).
Some of them are explained below-
Increasing the prices of products- By increasing the prices of products, a company can
earn more profit and achieve its objectives. But there is a high risk of applying this strategy as
when the prices of any product goes up, customers switches to other brand, hence it cause
decline in number of customers. To mitigate with this problem company must consider on
providing high quality of products with minimum cost in manufacturing them because for higher
quality, most of the customers are willing to pay high prices. Secondly, they are required to
launch a unique product which has totally new features. Hence, customer is willing to pay more
for the excitement of using new and unique product.
Expand the business by entering new countries- Every business aims to expand world
wide. This pathway of growth help the company to gain more customers and to earn more
reputation(Iskandar and Tirtayasa, 2019). There are many risk which is considered under this
pathway of growth like political risk of other countries, customer behaviour, customer demand
and many others. To mitigate with this issue company must analyse external environment of
those countries in which they are planning to expand their business. PESTLE analysis is an good
option to overcome the risk of international growth of business.
P.3 Assess the potential sources of funding available to businesses and discuss benefits and
drawbacks of each source
Funding is very important in every business, without funding no business can survive.
Some sources of funding are mentioned below-
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Personal investment- Personal investment is the funding investment which is done by
the owner of company(Leyva Carreras, Cavazos Arroyo and Espejel Blanco, 2018). Generally
small scaled businesses use this type of funding but when business grow they switch to other
funding sources.
Benefits of Personal Investment- There are many benefits of using personal investment in
business and some are explained below-
 Self Financing/ Personal investment in business provide much more control on business
than any other financing options(Linovski, 2019). It helps in retaining full ownership on
business. Self Financing also helps to control and reduce unwanted expenses in business because
when owner invest their own money in business they carefully operate business and tries
their best to utilize each amount of money in increasing productivity of business.
Demerits of Personal Investment- There are some disadvantages of using personal investment in
business and some are explained below-
 Personal investment cause unlimited liability situation which means the investor has to
pay from their personal property in case of excess loss and to pay debt(Pinnegar,
Randolph and Troy, 2020).
 In personal investment a owner have to develop their own contracts and monitor whole
business alone which further cause inefficiency in managing operations of business.
Venture capital- Venture capital involves in providing some ownership or equity in
business to third party. This third party is an individual, a group of individual, small company or
a large company. Venture capitalist are person who invested in the business, they got high
returns on their investment.
Benefits of Venture Capital-
 There is no liability on owner in Venture Capital. The Venture Capitalist is ready to take
all risk. Owner is not liable for any loss in company. Venture capital provide ownership to other party which is experienced in their field
which means company enjoy the valuable guidance and full experience in their
operational activities(Ponikvar, Kejžar and Peljhan, 2018).
Demerits of Venture Capital-
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 Dilution of ownership and control is an biggest disadvantage of venture capital. The
companies using venture capital have to share their ownership which also results in
sharing in decision making process.
 Venture capital consist of long and time consuming process because when a company is
asked to invest in their company with other party, that party requires business plan first
because no one is willing to invest in those companies whose future scope is not defines.
Hence, in finding venture capitalist and encouraging them to invest in business and then
giving all required documents to investors. Hence, it consume long time.
Angels- Angels are generally those individuals or those retired company executives who
invest in small business(Ruan and et. al., 2018). Their knowledge and experience help them to
tell which company is going to grow higher in future and because of this only they invest in
small businesses. For investing in company, Angels asks to have supervision on companies
operations.
Benefits of Angel investing in business-
 A highly experienced individual who have full knowledge of corporate world has taken
supervision power from company which help the company to work efficiently under a
experienced supervisor. Contracts and customers of Angel investors are shared to company and they help to make
those strategies which is useful to gain more customers.
Demerits of Angel investment-
 Loss of control over business is one major disadvantage of Angel investors as they invest
in business so they ask to have control on business which creates conflict between owner
of business and Angel investor in taking any decisions if their point of views are not
matched(Shaqrah, 2018).
 Angel investor interfere in each and every activity related to company which further
distract workers to work according to themselves as These Angel investors think that
company has to work fully as expected by them. Hence, their interference in every part of
business distracts business to perform well.
Bank loans- These are the funding ways of a business where banks provide loan to
businessman to operate business without funding obstacles. For a bank loan company must
represent their business plan to their bankers and if they think that business will attain a good
8

growth in future then they allow them to take loans from bank. This is most adopted way of
funding source by small and medium scale business because the interest rates are quite less than
other sources.
Advantages of Bank loans-
 The owner of business is not required to share its control or ownership to any other party
in case of having funding facilities from banks (Snider and Davies, 2018).
 Low interest rate of banks help the owner to attain more profit to themselves.
Disadvantages of Bank Loans-
 Bankers need collateral for providing loans to any businessman which means owners of
business must kept some mortgage with bankers. It include their personal properties.
 Long process of taking bank loans make it little bit advantageous. Banks ask for business
plan, then they study whole plan, then there are many formalities like checking the
actualization of mortgage properties, signing many documents and etc. contain long
process.
M2 Evaluate potential sources of funding and justification for the adoption of an appropriate
source of funding for a given organisational context
From the above information it has been evaluated that Bank loan is an potential source of
funding for Ella's Kitchen because in bank loans they are not supposed to share their ownership
to any third party and they have to pay less interest rates which help them to attain more profit
sharing ratio with themselves. Another potential source of funding for Ella's Kitchen is Angel
because the Angel investor is experienced and have full knowledge about the similar business.
Hence, giving ownership to an experienced Angel investor help them to grow faster with good
strategies and decisions made by them.
D2 Critically evaluate potential sources of funding with justified argument for the adoption of a
particular source or combination of sources, based on organisational needs
From the above information it has been critically observed that many sources of funding
have many advantages as well as many disadvantages(Tan and Sousa, 2019). Few sources are
beneficial for Ella's Kitchen and few are not. Some of them which are useful are Angels and
Bank loans. Angels are useful because it's investor are experienced and have much knowledge of
business world and due to this they have ownership in business and are considered as good for
making beneficial strategies for company. On the other hand bank loans are good because there
9

is less interest rates charged by banks and there is no distribution of ownership in taking funding
from banks facilities.
P4/D3. Design a business plan for growth that includes financial information and strategic
objectives for scaling up a business
Business plan are those plan which is made for companies growth whether in financial
terms or in non- financial terms(Wang and et. al., 2019). Some of the strategic objectives for
scaling up a business is mentioned below-
Company overview- Ella's Kitchen is an organic baby food producer company which is
headquartered in Henley-on-Thames, UK. Paul Lindley found this company in the year 2006. It
is an small scale business with 94 employees. They sold their organic baby food products
internationally.
Purpose of business- The main purpose of this business is to improve children's health
life by providing them organic food at reasonable cost which is easily purchased by household
ladies.
Vision and Mission- Mission of the company describes that this company aims to
improve children's health life by providing them healthy food which is made organically. Vision
of the company states that they want to make good relationship with their customers through
their organic food products.
Promotional Strategies- They advertise their products through social media like
Instagram and Facebook, they share their product's pictures and information about new
upcoming product on social platform, which further helps to aware their customers and to gain
more customers. Another method of their promotional strategy is their packaging of products.
They supposed to use their own packaging packets on which their company name, address,
components and many others. A good and informational packaging of Ella's Kitchen helps to
attract more customers.
Cash flow statement- It is a financial statement of a company which consist all the
incomes and expenditures of company(Wong, Holmes and Schaper, 2018).
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Month
Pre-
Start Year 1 Year 2 Year 3 Year 4 Year 5
INCOME
Cash Sales 18000 50000 55750 62161 69310
Credit Sales 8500 9478 10567 11783 13138
Business Loans 100000
Income from
other sources 5500 6133 6838 7624 8501
Opening balance 0
Total 132000 65610 73155 81568 90948
Cash Purchases 10500 9500 9900 9300 8300
Stock 4700 4700 4700 4700 4700
Drawings 1300 1450 1990 850 1750
Wages/Sub Con. 6000 6500 6800 6900 7200
Rent 6500 6500 6500 7000 7000
Rates 850 870 920 910 820
Light/Heat/
Power 1050 1050 1050 1050 1250
Telephone /
Mobile /
Broadband 250 250 250 300 300
Stationery &
Post 250 250 250 300 300
Insurance PL 3500
Advertising &
Marketing 750 750 750 800 800
Repairs/
Renewable 1120 1120 1120 1120 1120
Motor & Travel 3700 3700 3700 4000 4000
Consumables- 1100 1265 1455 1673 1924
Accountancy 4500 4500 4500 4500 4500
Loan
Repayments 4000 4000 4000 4000 4000
Miscellaneous 90 100 80 120 140
Tools &
Equipment
(Capital Items) 95000
Total 141660 46505 51465 47523 48104
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Surplus/Deficit £0.00 -9660 19105 21690 34045 42844
Balance @
Start £0.00 0 -9660 9445 31135 65180
Balance @ End £0.00 -9660 9445 31135 65180 108025
M3. Develop an appropriate and detailed business plan for growth and securing investment,
setting out strategic objectives, strategies and appropriate frameworks for achieving
objectives
Business plan for growth is an essential element for every business as every business
aims to grow internationally in future by serving its services world wide (Yahya, Khatami and Al
Khansa, 2020). Business growth plan is also important to gain world wide reputation. Business
plan for growth and securing investment includes many aspects like introducing new product
after careful analyse of market, adopt new competitive strategy to compete in market, modify
policies of business, changing in rules and regulations for workplace which help to perform
better in organisation, hire experience and loyal employees for finance department and many
others. There are many framework used in planning for growth in business, such as, Ansoff
model, BCG matrix, Porter 5 forces and etc.
P5 Assess exit or succession options for a small business explaining the benefits and drawbacks
of each option
Business strategies are those strategies which are planned to exit the business(Ye, Xiao
and Zhou, 2019). These strategies describe why the business want to quit the business, what are
the options of exiting the business and what will happen after exiting the business. Businesses
are shut down due to many reasons one of them is when the business has to face losses more than
profit and secondly some businesses are made to work for a particular period of time. Some of
the exit or succession options for a small business are explained below-
Liquidation- It is the strategy of ending an business by selling all its assets to repay the
liabilities of business. This strategy to shut down business is opted by sole proprietors and
partnership firms where owners are liable to pay the losses. In this strategy, commonly assets are
sold on lower prices because there is no other option for owner to do so.
Benefits of liquidation-
 It is an quick and easy way to end up the business.
12

 Liabilities can be pay by selling the business through liquidation(Zhang, Liu and Fang,
2018).
Demerits of liquidation-
 Assets are sold on low prices as compare to its actual costs.
 The price which is cured by selling the assets are used to pay liabilities and it does not
used by owner as their wish.
Sell the business in open market- It is the strategy of selling business in open market to anyone
who is interested to take over the business and its functions. The retired business owner who is
selling the business in market want a appropriate price of their own choice, the one who wants to
purchase the business has to agree to pay a fixed amount to owner which is already set by that
owner only.
Advantages of selling the business in open market-
 This method is considered as quick way to sell the business as many other people in
market are present to buy a established business(Fatima and Bilal, 2019). Hence, buyers
of business is easily available in market. This method did not consume too much time. Seller of business can get the price of their own choice because business prices are set by
its existing owner and the interested people are ready to pay.
Disadvantages of selling the business in open market-
 The legal cost which have to be paid by owner for selling the business whether it is in the
form of tax or any other thing, that is considered as expensive. Many formalities of
signing the documents is also time consuming.
 Staff of the business get affected because new owner may changes the rules and
regulations or even the owner may changes the staff members. Hence, selling of business
in open market is unworthy for staff members (Globocnik, Faullant and Parastuty, 2020).
M4 Evaluate exit or succession options for a small business comparing and contrasting the
options and making valid recommendations
In the above information, there are two existing strategies mentioned. First is liquidation
and another is sell in open market. Liquidation is taken because this option is beneficial for those
business who has much debt upon them. It is recommended good option to opt for those owners
who have to pay all liabilities in any cost whether to sell their personal property. Hence, it is
better to sell business in case of selling personal property like owner house to pay debt. The
13

another option is selling the business in open market which is again a good option for small
enterprises in case of facing loss or other existing reasons (Inch, 2018). This option of exit the
business is recommended for those business who want a good investment by knowledgable and
experienced person but it cost to loose ownership. In context of Ella's Kitchen, it is a small
business and a good revenue earning business. Hence, liquidation method is not required by the
business. Selling business in open market is good because the company can fix higher prices for
its business.
D4 Provide critical evaluation of the exit or succession options for a small business and decide
an appropriate course of action with justified recommendations to support implementation
It has been evaluated from the above information that, a small business can end up its
business by Liquidation in case if the business has many liabilities and have to pay the debt in
any situation. Hence, in this case liquidation method of ending a business is good. On the other
hand, selling of business in open market is an another option to shut down business by selling to
other businessman who is willing to pay a particular amount to existing owner(Gumel, 2019). It
is recommended that selling or existing a business must be depend on owners situation and
willing to exit.
CONCLUSION
From the above information it has been concluded that, BCG matrix, McKinsey 7S
model and Ansoff matrix are useful to make some growth strategies. There are many sources of
funding for a business which have to be opt according to their advantages and disadvantage.
Purpose of business, mission & vision, strategic plans and many others describe growth
strategies of any business which has to be made perfectly. There are many methods to shut down
a businesses which is depend on owners that which method they want to adopt.
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