Planning for Growth Assignment - Langland Ltd
Added on 2020-10-22
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Examine key considerations of small business in evaluating growth opportunities.........1P2 Analyse the opportunities for growth using ansoff's growth vector matrix......................3TASK 2............................................................................................................................................5P3 Display different source of fund and their benefits and drawbacks..................................5TASK 3............................................................................................................................................7P4 Prepare a business plan for growth...................................................................................7TASK 4............................................................................................................................................9P5 Present exit or succession option for a small business with their merits and demerits.....9CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................12
INTRODUCTIONPlanning stands to be one of the most crucial aspect in the organisation which assures thatgoals and objectives are fulfilled. Planning is a method through which business able to achieveits desired position. Every enterprise should continuously review their plan to know that whetherit able to meet their needs or not. Planing for growth support organisation in increasing itsprofitability (Barbour and Deakin, 2012). Langland advertising design and marketing Ltd is aadvertising agency who involves in healthcare promotion activities. As per the present time thecompany is planning to enhance its market by using digital technology. Langland is a privatecompany which is incorporated on 30 July, 1991 at Windsor, United kingdom. At present it hasapprox 100 employees. In this report there is a presentation of various growth opportunitieswhich business used in order to grow in external environment such as ansoff's matrix and pestleanalytical model. It also define various source of fund which organisation use in order to gatherthe money for carrying out different activities. Moreover, business plan is prepared which helpenterprise to achieve its goals. Beside, this it furnish different types of exit and succession planwhich small business used in order to fulfil customer needs. TASK 1P1 Examine key considerations of small business in evaluating growth opportunities.Langland advertising design and marketing Ltd is a marketing company which is seekingfor the growth opportunities in the marketplace. In present world everyone want success andgrowth for which they make all efforts to achieve it. This goal can be achieved by satisfyingdemands and wants of the customer. Planning for growth present a guideline which businessused in order to set its standard aim after knowing its present position. Business can reach to itsdesired position by providing quality service to the customer through use of digital technology.Langland advertising design and marketing Ltd provide their services in such a way that theirclients get large number of patients at their premises. Landmark and advertising design andmarketing should provide different qualitative services as compared to their rival firms in orderto earn competitive advantage. Business should make proper analysis of all external and internalfactors so that they can achieve growth (Brinckmann, Grichnik and Kapsa, 2010).Porter's generic model : This model can be used by Landmark and advertising design andmarketing in order to increase its growth opportunities. The respective can attained its desired1
position by lowering its cost or by offering different services to the customer. Landmark andadvertising can use this method in order to increase its market share and for developing areputation. Cost leadership :At this strategy business provide qualitative product and service at thelow cost in comparison to its competitive firm. Generally, this benefit is availed by the companythough economies of scale, new technology,efficient logistics and low cost resources (labour,materials, facilities). Langland advertising design and marketing can use this method in order toattract large number of clients and retain present customers which are in form of organisation.For example : Use of social media is most effective and reasonable tool through using whichorganisation can increase its market share.Differentiation : Under this strategy organisation make changes or add new features intheir product and services which are different and unique for their industry to attract thecustomers. Landmark and advertising design and marketing can change in their services byusing different and effective methods of promotion. The company can charge premium prices foroffering different services to them (Burton, 2010). Focus : Under this strategy focus is always on those areas which have no or lessconcentration of the rival firm. Focus strategies generally concentrate on the niche market byunderstanding its various factors and the needs of the customer. It can enhance the performanceof the Landmark and advertising company. This approach is divided into two parts which are asfollows :Cost focus : This strategy says that organisation should focus on their pricing of theservices so that it stand them, separate from their competitive firm. When product orservice is provided at low cost than quality should not be compromised.Differentiation focus :Landmark and advertising should focus on their services and itsefficiency so that it can create separate image in the large numbers of competitive firms.It is recommended for this organisation to use cost leadership theory so that avail growthopportunities in the market which are further supported with the use of digital technology tools. PESTLE ANALYSIS Political factors : Business before starting its working in some country firstly understandthe political condition of that country. Every nation has various rules and regulationwhich business have to follow in order to establish operational activities. If the political2
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