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Planning for Growth Assignment - NM Education Services

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Added on  2020-12-10

Planning for Growth Assignment - NM Education Services

   Added on 2020-12-10

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Planning for Growth
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INTRODUCTIONGrowth refers to the increment in size, scope and wealth of the organization, individual orentity. Planing for growth is a strategic activity which business perform in order to generategrowth in their revenue. Under this, business organisation prepare a plan which can bringpositive changes in the industry (Eddleston and et. al.,2013). NM Education Services is acompany of Manchester, England who want to expand their business in their country for whichthey are bidding a contract of British Council in order to 'connect classrooms through globallearning'. The company have £20k at present and the contract value is £80k which they canborrow form any source of investment. This assignment describe various growth opportunitieswhich business can use in order to increase their market share such as Porter generic model,pestle analysis and Ansoff matrix. It also inform about the various source of finance whichsupport business in its existence. Moreover, it present exit or succession options which enterprisecan use in order to achieve its desired growth.TASK 1P1 Examine the key consideration for evaluating growth opportunities.Planning can be defined as thinking activity which was undertaken to achieve a desiredtarget. Planning for growth provide the path through which organisation can make changes intheir existing position. Business can achieve growth by providing quality services to thecustomer to fulfil their needs. NM Education Services can earn competitive advantage by makingtheir product and services more better in the classroom teaching resources and professionaldevelopment material. When respective organisation serve differently from their competitor thanthey will definitely achieve success. It is essential for business organisation to assess differentaspects of markets to operate activities accordingly which is mentioned beneath: Porter's generic modelThis model can be used by NM Education Services for getting growth. There are twotypes of competitive advantage which organisation can use in order to achieve success such aslow cost or differentiation. This model is presented by Michael porter to the society in 1980(Keough, 2015). NM Education Services can use this method to increase their market share andprofitability rate. By the help of this method, organisation can get guidance about its operation tosupport in achieving desired target. Business adopt this model in order to attain contract of1
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British Council which is a part of growth. Here are discussed some strategies that can delivergrowth opportunities to organisation: Cost leadership : Under this technique, services and product is provided at a low pricewithout compromising the quality. Through this method, organisation can increase its profit andmarket share by reducing the cost as compared to existing competitive firm. Low cost can beachieved by using any of the method such as economies of scale, advance techniques and rawmaterial. NM Education Services use this strategy in order to attract new clients and retainexisting clients. Differentiation : Business adopt differentiation strategy in order to be unique anddifferent from the competitors and to attract large number of customers. Under this strategy, firmcreate uniqueness in their product (Moseley,2013). NM Education Services can use this strategyby adding one or more attributes in the service which is important according to customer's needsand wants.Focus : In this strategy, focus is on the area which is less concentrated by the competitor.By using this method, NM Education Services improves their performance and productivity.This method is divided into two parts which are described below:Cost focus : In this strategy, cost remain low for targeting niche market and fulfil wishesof that area consumer. NM Education Services can focus on their price of the services tomake it stand differently from existing rival firms.Differentiation focus :Under this, niche market is targetted by adding unique feature inthe services. It is very necessary that product and service is unique to remain ahead fromthe competitor. NM Education Services require to focus on the features of their service sothat it can help in creating image of the organisation.The choice of the strategy should be done by understanding competencies and strengthsof the company. NM Education Services can use cost leadership strategy in order to expand theirbusiness. They can provide their services at low cost with quality so that customers get attractedto them. For NM Education Services, making differentiation in services is not profitable becausethey are not able to make any big changes in their facilities. The core of the services remain2
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