Planning for Growth: Evaluating Growth Opportunities and Potential Sources of Funding for Marshfield Bakery

Introduction
Planning is the process of managing and organising
the resources, man power and all the essential
resources together in a time frame in order to
achieve successful outcomes. Planning for growth
is the essential for the developed and developing
organisation in order to set the strategies and
direction to achieve organisational goals and
objectives.
Evaluating growth opportunities
There are two models which is analysed below to
identify growth opportunities of Marshfield bakery-
PESTEL analysis- It is the model which is used to
analyse external business environment of a
company and the impacts of the factors of these
model upon a business. In context of Marshfield
bakery, their PESTEL analysis is explained below-
Political factor- It consist of trade policies, tax
rates, government policies and many others (Song,
Sun and Jin, 2017).
Positive impact of social factor- In context of UK, the
purchasing habit of their population is high and they
believe to purchase high quality of products which will
further help them to develop their life standards. For
this they are ready to pay little high. Hence, it is
beneficial for Marshfield bakery to produce high
quality of products and sell them on appropriate price
to attract more customers and earn more.
Negative impact of social factor- In context of UK,
there are large number of probability of strikes on
inequality, skin colour and many others. Hence, during
such strikes less number of customers purchase
products from Marshfield Bakery. Even they have the
treat of damaging their assets in large crowd during
strikes.
Technological factor- It is essential to have good
condition of technology in a country for higher growth
of the companies (Kairuz and et. al., 2020). In context
of UK, they are having modern and advance
technology for UK based companies so that they will
produce more products and help their nation to grow
well.
Positive impact of technological factor- Modern and
advance technology of UK help Marshfield bakery to
use high tech machines and tools in their producing
their bakery products which further help them to
achieve their goal on time with less manpower.
Negative impact of technological factor- There is the
disadvantage of modern and advance technology in
Marshfield bakery and that is their manpower is too
dependent on their machines and tools that the work
which they can do manually, in those task also they
need technological help. On the other hand, to purchase
modern technology, Marshfield bakery has to invest
high.
Positive impact of political factor upon Marshfield
bakery- In context of UK, their government policies
are made to promote the SME's business in their
economy. There are many banking benefits to small
business like Marshfield bakery, they can take loans
on low interest rates for their operational activities.
Negative impact of political factor- In context of
UK, their corporate tax is high which provide
negative impact on Marshfield bakery to pay higher
taxes and retain less earning.
Economic factor- It consist of GDP growth rate,
infrastructure condition, cost of raw material and
many others.
Positive impact of economic factor for Marshfield
bakery- In context of UK, they are having good
economic condition and their GDP growth rate is
also in good condition which further help the
Marshfield bakery to expand their business in
context of selling their products to the higher
purchasing power of population.
Negative impact of economic factor- UK is having
high rates of their raw material which impact
negatively to Marshfield bakery. In case they offer
their raw material from other country then also they
have to pay large amount of money in export
charges.
Social factor- It consist of behaviour, attitude,
purchasing habit, beliefs, values, religion and many
others in context of customers of a particular area
(Ortega and et. al., 2019).
Planning for Growth