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Planning for Growth Assignment - PLC Restaurant construction company

   

Added on  2020-10-22

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Planning for Growth
Planning for Growth Assignment - PLC Restaurant construction company_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse key considerations for evaluating growth opportunities and justify theseconsiderations within an organisational context.....................................................................1P2 Evaluate the opportunities for growth applying Ansoff’s growth vector matrix..............4TASK 2............................................................................................................................................6P3 Assess the potential sources of funding available to businesses and discuss benefits anddrawbacks of each source.......................................................................................................6TASK 3............................................................................................................................................8P4 Design a business plan for growth that includes financial information and strategicobjectives for scaling up a business........................................................................................8TASK 4............................................................................................................................................9P5 Assess exit or succession options for a small business explaining the benefits anddrawbacks of each option.......................................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONGrowth planning refers to the activity of business that allow owners to plan and checkorganic growth in revenues of firm. It enables companies to allocate their constricted resourcestowards efforts of adopting change in industry driven through digital disruption (Eddleston andet. al., 2013). It is very essential for every organisation to plan for business growth on regularbasis in order to attain sustainability in market. In the present assignment, chosen organisation isPLC Restaurant construction company which is a small medium firm that provides specificallyconstruction services of restaurants. The entrepreneur bid on contract named as GB-King's Lynnfor the construction of utilities in Floating restaurant . This report covers key considerations thatbusiness should consider when assessing growth opportunities. It also assess various methods bywhich firms can access funds as well as a business plan is also developed. At last, several exitand succession options are defined in this project. TASK 1P1 Analyse key considerations for evaluating growth opportunities and justify theseconsiderations within an organisational contextIn today's competitive business environment, it is very crucial for every enterprise to planfor its growth on constant basis. It assists firm in its long term success and maintainingsustainability in market. This also provides competitive edge to company in market over itsrivals. But, before starting any new business, it is very crucial for business owner to considersome factors for evaluating growth opportunities in market. It is also essential to have an uniqueidea or concept with which business can be start and run successfully. For attaining growth andsuccess in competitive market, an individual thinks to start a new venture in market of England.PLC Restaurant construction company is a new medium-sized enterprise that offers restaurantconstruction services and contracting solutions corporate clients. In PLC Restaurant constructioncompany, clients can get effective and high quality services and also get solutions regarding theissues related to building construction. Some factors or key considerations that requires to beconsidered by manager of firm includes: Resources: For starting a new venture, one of the crucial requirements is resources. It isnecessary for firm to have adequate resources (Moseley, 2013). It involves physical,technological, financial and human resource. Owner requires to have adequate amount of finance1
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for starting their business, i.e., PLC Restaurant construction company. Availability of adequateamount of capital makes it easy for owner to run its day to day business operations effectively.Besides finance, it is also essential to have physical and technological resources. Use of new andinnovative technology helps manager firm in gaining high competitive advantage overcompetitors. Capabilities: Capabilities refers to the abilities that business needs to have for executingits strategies. For implementing business plan and strategies, it is essential for firm to haveskilled and competent manpower (Ziari and et. al., 2012). Proper management of capabilitieswithin business helps manager of PLC Restaurant construction company to establishperformance goals on the basis of values. Skilled, knowledgable and competent manpower helpsfirm in attaining its business goals in an effective and efficient manpower. So, it is required formanager of firm to ensure availability of skilled workforce within company to carry out businessoperations in successful manner. Core competencies: It is defined as the deep proficiencies that allows firm to deliverunique or incomparable value to customers. It is necessary for manager of PLC Restaurantconstruction company to know how to integrate multiple technologies and coordinate differentproduction skills. Use of high end technology in business processes and offering high quality ofservices are the main core competencies of construction firm that helps it in gaining highcompetitive advantage in market. Porter's Generic Strategies:It is a tool that defines how firm pursue competitive advantage in its chosen market.Porter's generic strategies is adopted by company for gaining competitive advantage in market. Itinvolves three strategies, i.e., cost leadership, focus and differentiation strategy. In order to gainhigh competitive advantage in market, manager of PLC Restaurant construction company canadopt one of these strategies (Brealey, Myers and Marcus, 2012). These are defined below: Cost leadership: In this, firm minimize its cost of manufacturing to deliver goods andservices at lowest cost in industry. There are two ways by which PLC Restaurant constructioncompany can attain cost leadership in market. First is maximizing profits by declining cost, whilecharging average prices of industry and another is increasing market share by charging lowestprices, while still yielding reasonable profits on every sale. This strategy can be adopted by firmfor attaining cost leadership in market. 2
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