Planning for Growth

Planning for Growth

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK-1............................................................................................................................................1
Key considerations for evaluating growth opportunities............................................................1
Applying Ansoff's growth vector matrix on opportunities for growth.......................................3
TASK-2............................................................................................................................................4
The potential sources of funding and its advantages and disadvantages....................................4
TASK-3 ...........................................................................................................................................7
A business plan for growth.........................................................................................................7
TASK-4............................................................................................................................................8
The benefits and drawbacks for exit strategy option available for small business.....................8
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................11

INTRODUCTION
Planning of growth is an important for any business today. As this will help the
companies to increase its ales and more customer-satisfaction will be created with opportunities
of growth. The Small organization can increase its market by planning for growth. When there is
a lack of sales, intense competition the companies often develop a growth plan. The growth of
small businesses can be supported by using digital technology in a business. Today every
organization make use of digital technology in order to make their business more efficient and
accurate (Albon,Iqbal and Pearson, 2016.). The use of cloud computing in an organization have
been beneficial as it has reduced the manual work that have to been done in storing and
maintaining the records of organization.
Softwire is a small organization in UK that provide software solution to other brands.
This report will examine the opportunities for growth for softwire organization. By applying
ansoff's growth matrix model the growth opportunities will be evaluated in this report. The
various resources of funding for this organization will be discussed and its advantages and
disadvantages will also be represented in this report. This report will also develop a business plan
for growth of business.
TASK-1
Key considerations for evaluating growth opportunities
The small business organization such as softwire need to consider opportunities in order
to expand their business and increase its share of market. Today the digital technology have
impact the businesses. It has changes the ways in which business are operating today. With use
of digital technology the company can create innovative products for their customers . The key
consideration of growth opportunities for softwire organization will be as follows-:
Use of cloud computing – This is an important opportunity for growth. Instead of storing data
manually the company can make use of cloud computing storage. The advantages of using cloud
as a storage are numerous (Eddleston and Crittenden, 2013.). . It will help the company to store
all records of company on one cloud. The manual record-keeping is difficult to maintain and can
also consume a lot of time as each record of employees and customers need be search in order to
do an up gradation in it. The update process in a manual system is difficult .But in c;loud the up
gradation is done automatic .The only need of cloud is internet access. With use of internet
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access it can be accessed anywhere and at anytime. The cloud-computing also provide a great
security to data is stored in it. So the company can use in order to store their records of
organization.
Use of mobile technology and social media – In many way's technology has change the business
in many ways. By using mobile technology and social media sites such as Facebook, twitter, e-
mails and blogs the communication in a business have become more effective. With use of
technology one can communicate with other employers who is in another country. Without
meeting face to face the individuals can communicate by using video-conferencing and carry on
business relationship. Softwire can use social media in order to connect with customers .A huge
information about preferences of customers can be known through social media sites
(Dibrell,Craig and Neubaum, 2014)..
Use of big data in business – This can be one of the growth opportunity for this small
organization a innovative and create product can be created due to use of big data. The large
number of data set can be managed with help of big data. When people interact with different
systems the concept of big data was used to understand trends, patterns and references in a huge
database. The organization of business can use analytics and discover the most valuable
customers for business. The new experiences, products and services can be created with use of
big data. In order to compete with rivals and innovate the companies use data driven strategies. A
lot of new growth opportunities can be created .The profile of customers can be checked and
analysed with help of big data. This will help organization to understand the preference of
customers and their desires. So, the relevant products as per preference of customers will be
made by company. The important changes and re-development in a product can be done with use
of big data as it provides ways of collecting data. The social media feeds and newspaper reports
can also be scanned and analysed by big data.
Use of internet of things – With use of internet of things in a business the company can develop
smarter products for their customers. The expense of business will be lowered with use of
internet of things and the entire business will operate more productivity need to hire security
guards will be circumvented .
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