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Planning for Growth Opportunities PDF

Added on - 08 Dec 2020

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Planning For Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities..................................................1P2 Apply Ansoff's matrix for evaluating growth opportunities.............................................4TASK 2............................................................................................................................................5P3 Assess potential sources of funding available to business................................................5TASK 3............................................................................................................................................7P4 Design business plan for growth.......................................................................................7TASK 4............................................................................................................................................9P5 Assess exit or succession options for a small business.....................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONEvery organisation in a country seeks to expand its business in an economic manner. Togain this, employers are needed to make an action plan for growth of business. This planning forgrowth includes entire activities, techniques and resources to meet needs of business andstakeholders. In addition to this, it includes many strategies also which is considered as backbonefor planning as well as laying the foundation of process in a successful manner (Barbour andDeakin, 2012). This report is made to demonstrate how SMEs develop their business and gaingrowth by planning process. To analyse this, a new company is going to launch in UKmarketplace named by “Fountain-Head” which deals in event management sector. It will providecatering and other services to other organisations in order to organise program and events ofthem. This firm will apply for government contract in which employers are needed to haveadequate amount of fund for bidding i.e. near about£300,000. But instead of this, firm have only£20,000 for investment in business. Thus, entrepreneurs are required to raise funds from differentsources.TASK 1P1 Key considerations for evaluating growth opportunitiesIn today's marketplace, many companies in small sector are opening their business ondaily basis. But before launching business, entrepreneurs are required to grab information ofmarketplace first for generating innovative ideas. This would help them in formulating different-different strategies that provide a specific direction to business. Along with this, it also aids themin planning business activities properly which lead and drive organisation to gain growth. As perpresent scenario, an entrepreneur is going to launch business in event management which willprovide services to other companies in organising their events (Beatley, 2014). The major stepsrequired in strategic process of planning for evaluating growth process for Fountain-Head aregiven as below:-Competitive advantages:Itdescribes favour-ability of marketplace through whichentrepreneurs of “Fountain-Head” can become able to hold preferences of clients and gainadvantages from competitors who are already established their business. For this process, presentfirm needs to design its portfolio in an attractive manner. It helps in gaining attraction ofcustomers by describing them how parties or events will organise. As this company deals1
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