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Planning For Growth Assignment (PDF)

Added on - 23 Nov 2020

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Planning For Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key consideration for evaluating growth opportunities........................................................1P2 Ansoff matrix for growth opportunities.................................................................................4TASK 2............................................................................................................................................6P3 Assess the potential sources of funding available to businesses............................................6TASK 3............................................................................................................................................7P4 Develop a business plan and communicate how you intend scaling up a business...............7TASK 4..........................................................................................................................................10P5 Succession options for small businesses..............................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONPlanning for growth is a strategic process that allows business to plan and monitorgrowth of their enterprise. It enables business to allot required resources to adapt changes inindustry or market. It helps companies to achieve goals by their present actions (Wu, 2015).Present report is based on A David & Co. Ltd., which deals in food and beverages industry andprovides production and distribution of fruits. Company offers fresh fruits, bakery items,vegetables and ready to prepare products to schools, caters, restaurants, and governmentcontracts. This report focuses on evaluation of growth opportunities through Porter's genericmodel, PEST analysis and ansoff growth matrix. It explains about different types of potentialsources of funding and their benefits and drawbacks for small medium enterprises. This projectalso explains succession options for business and their advantages and disadvantages for same.TASK 1P1 Key consideration for evaluating growth opportunitiesEvery business or organisation plan to grow as early as possible so that it can survive andcompete with other businesses . A David & Co Ltd a food and beverages company offeringdifferent type of product range like cheese bread, bakery, dairy, frozen food, catering etc. Infuture the company want to grow their business by the help of different marketing techniquessuch direct selling, email marketing, digital marketing etc. Among these three technique themost effective and useful one is the marketing of product through digital medium of technology.In last few years the digital technology has made great impact in the marketing field and some ofthem uses, cloud technology, social media, artificial intelligence to grow and develop theirbusinesses.Competitive advantage- It is an advantage over different competitors by giving theproduct with higher value, low price and better services when compared to other company.Every companies goal is to achieve competitive advantage over its challenger (Viitanen andKingston, 2014). Assets, characteristics and different abilities of the company are the pillars andstrength of the company, so the competitive intelligence which includes action, to analyse anddistribution of different product in an intelligent way is always needed to gain the competitiveadvantage over other. Porters generic competitive strategies shows the way to attain competitiveadvantage from rivals.1
Porter's generic competitive strategiesFor the long run of the business and to gain competitive advantage over other there aretwo basic type of advantage an organisation can have which have lower cost and differentiationin the column, of chart and target in the broad and narrow sense placed on the rows. The genericstrategies are as follows.(Source:Porter's Generic Model,2018)Cost leadership- The method in which objective is to produce the large scale of productin lower cost as possible. A David & Co Ltd can make this happen by selling their product atthe least price or to the equal to price of the average selling price in market and can achieve thelowest cost of the product and can make or enjoy the best profit compared to other companies(Mehmet, 2014). As by profit business can grow at every level and make development in aspectof the company.Differentiation- It aims to differentiate their product to the other company by producingcompletely different product.. It targets the market with small number of segments. Just to makethe commodity unique and giving preference to some special or regular customer differentiationis done. It is all about charging some premium pricing for their best product. A David & Co Ltdcan give special preference to the target costumer by considering their different choices and2
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