Planning for Growth Assignment Solution - Doc

   

Added on  2020-10-23

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Planning for GrowthTable of Contents
Planning for Growth Assignment Solution - Doc_1
INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Analyse key considerations for evaluating growth opportunities ...................................1P2. Ansoff’s growth vector matrix.........................................................................................4TASK 2............................................................................................................................................5P3. Assess sources of funding and discuss benefits and drawbacks......................................5P4. Design a business plan for growth ..................................................................................6TASK 4............................................................................................................................................8P5. Assess exit or succession options for a small business and their benefits and drawbacks8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
Planning for Growth Assignment Solution - Doc_2
INTRODUCTIONPlanning is an essential part for every business organization without which a companycannot survive for long term. It is the foundation of every business firm which helps to attaintheir objectives or target (Albert, 2017). Creating a plan is the key part of planning for growth.Business plan can assist in short or mid- term goals with a defining steps of business organisationto achieve them. In this unit, report will discuss about growth and development of small andmedium enterprises along with planning significance. This project involve some major considerations for evaluating growth opportunities thatincludes porter's generic and pestle analysis of complete IT solution company. This provides ITsupports and services to customers and their client. This report covers a business plan, exit andsuccession plan of a business firm as well as highlights sources of financing fund along withAnsoff's matrix. TASK 1P1. Analyse key considerations for evaluating growth opportunities Planning gives direction to a business operator which leads to most desirable outcomes. Itis an important part to build employee relations to assist in focusing on customer demand andtheir needs. This phase includes understanding about company and their environment. This assistin examining a business firm by their resources and liabilities (Beatley, 2014). Pestle is aframework of extrinsic environment framework through which complete IT business can able toanalyse their external factors of this company. This also includes porter's generic strategy toidentifies opportunities by expanding their business. These are briefly defined as follows:Porter's Generic ModelThis model assist in describing how an organisation pursues competitive edge across theirselected market scope and helps in determining competitive strategies of a business enterprise. Itis necessary to achieve profitability which help them to sustain for longer duration in thisexisting competitive world. This model assist in guiding competitive advantages of complete ITcompany, these can be as followsCost leadership: This can assist in cost leadership by issuing lowest price of a productinto the market. This will helps in increasing profits by lowering their cost of product, asa result, to increase market share by selling products and services at lower cost from1
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customers. It will increase the profit margin by increasing in number of shares in market.By applying this approach in complete IT company, it will result into generating higherrevenue for employees that implies to sustain for a longer period of time. Differentiation: This approach is used when different products and services areconsumed, therefore, complete IT company offers more attractive price and introducingnew goods related to customers demand(Colantoni and et. al., 2016). By makingvariation into existing products through using innovative ideas can bring positive impactbrand image and effective sales and marketing, that will attract customers eyes. This willhelps in product differentiate whether in form of quality or packaging. Focus: This approach particularly used in certain market segmentation which result toless attractions to other competitors. This includes two form of focus approach, these aredefined as:◦Cost focus: By applying this approach, company can focus over certain market nicheand understands demands as well as distinct dynamic of market while introducingnew product into a market. This will assist complete IT solutions company to promotetheir goods in small budget which increase sales for a specific region at targetedmarket. Therefore, it will improves their quality by maintaining rate of standard andalso, effect brand image of product. ◦Differentiation focus: This approach is used to target a particular segment. It willassist to exploit specific needs in a special market segment. This portion depend uponbusiness visual aspect which offers to target customers only. From the above topic, it can conclude that porter's generic model guides in understandingcompetitive advantages of complete IT which able to know which kind of strategy they shouldadopt to promote their products (DeMartin and et. al., 2015). By using this, intellectual processof external environment assist in bringing up possibilities for a market which are helpful inenhancing business operation. Therefore, complete IT business firm use differentiation strategy,this will help them to promote their product at new level. Pestle analysis This is done to examine external environment which can help in understanding aboutperspective in ample environment conditions. It can be explained as:2
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