(Solved) Planning for Growth Opportunities Assignment
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Added on 2021-01-02
(Solved) Planning for Growth Opportunities Assignment
Added on 2021-01-02
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Planning for Growth
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse key considerations for evaluating growth opportunities.....................................1P2 Evaluate the opportunities for growth applying Ansoff’s growth vector matrix..............4P3 Assess the potential sources of funding with benefits and drawbacks..............................5TASK 3............................................................................................................................................7P4 Business plan for growth...................................................................................................7TASK 4............................................................................................................................................9P5 Assess exit or succession options with benefits and drawbacks.......................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTION Planning for growth refers to a strategic business process which provide support to makeeffective plan of action to achieve better outcomes. It render help to allocate available resourcesand tasks in an appropriate manner which facilitates to achieve success of business. Moreover, itis necessary to make efficient strategies or policies through innovative ideas to improveproductivity of an organization. The present report is based on ABC Software Agency whichconduct online investigation to identify person and businesses to assist backgrounds checks,screening & collection activities (Eddleston and et. al., 2013). In this assignment, the firm iscoming under a contract with “Medicines and Healthcare products Regulatory Agency” forbidding. It will focus on key considerations of evaluating growth opportunities along withapplying Ansoff's growth matrix. There are several kinds of sources of funding for givenorganisation are also described with their benefits and drawbacks. The business plan and exit orsuccession options of a company is given below. TASK 1P1 Analyse key considerations for evaluating growth opportunitiesThere are different types of internal and external factors of an organisation which impactson overall operational activities as per different circumstances of market. It include to observeand analyse required elements thoroughly to determine possible chances which can providesupport to business in order to boost up productivity or profitability on regular basis. Moreover,these opportunities are necessary to be identified in terms of improving brand and achievecompetitive advantage in market. In context of ABC Software Agency, they are required toanalyse several components to evaluate growth opportunities which are explained further - Resources – This can be described to analyse available and required resources in anorganisation to make an appropriate strategy of utilising them in proper way. It is necessary toconduct an optimum use in different types of sources to generate maximum outputs from them.In case of given company (Mahmoudi and et. al., 2013). It is required to generate potentialgrowth opportunities in order to enhance brand image in market by appropriate management ofresources along with fulfilling actual desires of company. Moreover, this organisation has severalresources including raw material, staff members, funds, software, applications which are helpfulto conduct operations properly. 1
Corecompetences – There are different competitive firms which are surviving in presentscenario of market then it is essential to analyse their creative strategies which may impactnegatively on sales of an organisation. Meanwhile, it is important to generate more effectivepolicies in order to avoid effects of competitors along with creating beneficial chances to gaincompetitive advantages of given company. Moreover, they have certain core competencies suchas collective learning, production skills and technological resources including desired software orapplications.Porter'sgenericstrategies – This theory was proposed by great thinker named asMichael Porter around the year 1985 in a book “ Competitive Advantage: Creating andSustaining Superior Performance”. This strategy can be utilised by given organisation throughfocussing on relevant factors of this model which are as under -CostLeadership –This can be described as to focus on overall cost of production byanalysing various operational activities as well as procedures to improve quality of products(Valler, Phelps and Wood, 2012). It include to provide more effective services to people in ordertop fulfil their actual needs, wants and demands at reasonable cost among different competitors.In context of selected company, they are required to make their investigation results muchefficient by using software at specific price which is easily affordable by customers to achievesatisfaction that generate an opportunity of improving profitability. Differentiation – This can be explained as an important aspect to make own services tobe unique and different from others so that uniqueness of brand is itself become tool ofpromotion. It provide support to make a separate image of company in min d of people whichalways motivate them to make decision of purchasing in favour the same (Kraaijenbrink,Ratinho and Groen, 2011). In case of selected enterprise, they can make different sign ofidentification of their business concern through modifying certain factors which create abeneficial chance to attract more consumers towards brand.Focus:Cost focus – This include to focus on cost of services to minimise them in niche marketso that other competitors will not able to adapt the same. It is helpful to attract newcustomer towards brand and increase sales which is favourable opportunity for ABCSoftware Agency for achieving success. 2
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