Planning For Growth INTRODUCTION 1 TASK 11 P1 Key considerations for evaluating opportunities for growth of business

Planning For Growth

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key considerations for evaluating growth opportunities and justify................................1
P2 Evaluate the opportunities for growth applying Ansoff’s growth vector matrix..............4
TASK 2............................................................................................................................................7
P3 Potential sources of funding available to businesses and discuss benefits and drawbacks.7
TASK 3............................................................................................................................................8
P4 Business plan for growth of business................................................................................8
TASK 4..........................................................................................................................................11
P5 Exit and succession option for small business................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Planning for growth refers to formulate strategies through which a firm can achieve its set
target in predetermined time. In this regard, managers of a company are required to make
policies as per latest trends of marketplace which helps in achieve growth of business. It will also
aid business tycoons in evaluating various components as well as condition of marketplace
through which they can execute operational activities in appropriate manner (Allmendinger and
Haughton, 2012). For attainment of business growth, employers of SMEs are requirement to
make proper plan which includes strategies and policies. Present report is based on Quantum
Technology Marketing Group Limited which is a small consultancy company of UK. It gives
expert advice to technical companies for resolving and improving their operations. In this
context, some major key considerations for gaining growth opportunities to this firm are given.
Along with this, different methods of funding, a proper business plan as well as various
techniques for succession and exit of business are also discussed in further part.
TASK 1
P1 Key considerations for evaluating growth opportunities and justify
Every small and medium company needs to plan for growth because there are various
opportunities but the only thing is needed for them it planning which can drive the profit. As
planning is the initial state of the business because other stages are depends upon them and it is a
sequential process that can attain the goals and objectives of the firm. An organisation needs an
effective planning to grow in its fields in terms of profit and area of expansion. Quantum
Technology Marketing Group Limited provides marketing services for technology companies in
the United Kingdom and overseas. When a business expects to attain the high growth rate then it
needed to analyse such factors that can support to attain the competitive advantage in the market.
Resources – When a company is expecting to the growth then the first state to analyse
the available resources that help it to attain the goals (Berger and Berger, 2011). Its major
resource can be the high skilled task force that can provide the information about the events that
are going to organized. Then it needs some machinery and equipments that can make the event
mesmerizing. The resource which is needed to get the attention of the people is important to
have in order to promote the event.
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Capabilities and core competences – The Quantum Technology Marketing Group
Limited requires to expand its operations but before that it needed to increase its capabilities. To
enhance the abilities it needed to gather funds which is most essential because it needed to
increase the work force and equipments which are the basic requirement of the firm. The
increasing competition is also beneficial for the firm that gives a chance to look at its weaknesses
and improvements areas where it is lacking its performance along with strong areas which can be
used as its power (Blackburn, Hart and Wainwright, 2013).
Porter Generic Strategy
The Porter's generic strategy is recognise the focused area where a company can put its
strategies to implement the plan in order to attain its objectives and goals. Quantum Technology
Marketing Group Limited can go forward with the help of Porter's generic strategy that aid to
support to be establish in the competitive marketplace. The major purpose of this model is to
attain the competitive advantage for Quantum Technology Marketing Group Limited.
Cost leadership – The cost leadership is concentrated on the profit by offering the low
prices of the products and services. Quantum Technology Marketing Group Limited can provide
its services on affordable prices to sustain the market for a long time. Keeping the low cost is
beneficial for the firm because the low cost captures the attention of people and this will
ultimately generates the profit. In order to hold the lowest price in the market it can conduct a
research that hold inform about the rivals strategies to sell the products. After that it can apply
the cost reduction strategy in the broad market area in order to get the profit.
Differentiation strategy – The differentiation strategy refers to differentiate the product
and services from others. In order to make different product that item can be different through
the attributes that has some importance for the clients. A customer is always looks for a better
products from the existing products in the market and for that attributes and quality of the
product they can pay high rates. Therefore, Quantum Technology Marketing Group Limited can
develop such webinars that can impact on the audience in a significant way. If the webinar is
impeccable then the clients can pay the high amount for that because they are watching
something different (Denton, Forsyth and MacLennan, 2017).
Focus strategy – The focus strategy is based on the narrow segment of customers. The
Quantum Technology Marketing Group Limited can opt for one of the two strategy such as cost
advantage or differentiation. This is based completely based on the customer satisfaction through
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