Planning for growth

Planning for growth

TABLE OF CONTENT
INTRODUCTION .........................................................................................................................3
MAIN BODY...................................................................................................................................3
Analysing the key considerations for evaluating the growth opportunities with justifying the
considerations with the home bake in UK. .................................................................................3
Evaluating the opportunities for the growth applying Ansoff matrix .........................................5
Assessing the funding sources which are available to the business with discussing its
drawbacks and benefits................................................................................................................6
Business Plan...............................................................................................................................8
Assessing the exit and the succession option for the business and explaining the benefits and
drawbacks of each option ..........................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Planning for attaining growth in the business mainly aims in diversifying the business
and its opportunities for attaining growth in the business. As for building the performance and
attaining growth in the business, it mainly requires the plan for the business as to expand and
adapt the opportunities for attaining growth. Home bake is mainly recognized for serving the
home products for making and baking cakes. This project report provide details with explaining
the key considerations. Also evaluating the growth opportunities and applying the Ansoff matrix.
Further, assessing the funding options available with the business. Lastly, assessing the exit and
succession option for the business with discussing its benefits and drawbacks.
MAIN BODY
Analysing the key considerations for evaluating the growth opportunities with justifying the
considerations with the home bake in UK.
Small scale business in the environment are mainly classified for operating at the small
level consisting of less than 250 employees and earning around less than 50 million turnover n
the year. As for the small scale business enterprises the government of the country mainly offers
the incentives to the business and providing favourable taxing rates (Jeje, 2020). Planning for
attaining growth in the business mainly helps in accessing and adopting different stares in the
business for attaining the potential growth. With this the home bake is mainly expanding its
outlet in the Southwell UK. Also, expanding the range of organic products mainly helps in attain
growth in the business by serving the low calorie food products to the consumers.
With applying the porter generic model
In this model it mainly specifies about three growth strategies which is being adopted by
the business to attain growth with expanding the business:
 Cost leadership: This strategy mainly aims in specifying the business by lowering its
cost to attain growth in the business by attain low profits. In this offering quality product
at low prices to attain growth.

 Differentiation strategy: With this strategy it aims in providing the unique product to
the consumers for distinguishing from its competitors, which mainly helps in increasing
the competitive advantage.
 Focus strategy: In this selecting the particular market by narrowing the scope to serve
with focusing on the particular market.
Thus, for the home bake the most suitable strategy to attain growth is to adapt the
differentiation strategy in the company. As in this the company may tends to offer new and
differentiated products to retain the loyal consumer market. As by serving the organic cakes,
bakery products (Porter's Generic Strategies, 2022). This tends to attract health conscious
consumers which promotes the green based bakery products. As with using this strategy is handy
to attempt and apply for the consumer. Further more, this strategy helps in attaining growth by
attracting the consumers to serve with the heath and organic bakery products in nature.
viro analysis
Resources valuable rare imitable organised
Equipments and
tools
✓ ✓ x ✓
finances
✓ ✓ x ✓
Brand image x ✓ ✓ x
Speciality in
menu
x ✓ ✓ x
Human
resources
✓ ✓ x ✓
Thus, from the above table of the Vrio framework it mainly helps in attaining
competitiveness for serving in the market. As the equipments, finances and the human resources
working in the home bake are valuable rare and being organised for serving the company
consumers. But the company does not have the global presence which lacks its image in the eyes
of the consumers (Explaining The VRIO Framework (With A Real-Life Example), 2022). Also,
not serving the social menu range to the consumer lacks in attracting to visit the place more than