Planning For Growth Opportunities Evaluating - Assignment
Added on 2020-10-22
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PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key consideration for evaluating growth opportunities and justification of considerations.1P2: Identification of growth opportunities by the use of Ans-off's growth matrix.....................3TASK 2............................................................................................................................................4P3 The potential sources of funding available to businesses and discuss benefits anddrawbacks of each source............................................................................................................4TASK 3............................................................................................................................................6P4 Business plan for growth which contains the financial information and strategic objectives.....................................................................................................................................................6TASK 4............................................................................................................................................8P5 Succession options for a small business explaining the benefits and drawbacks of eachoption...........................................................................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONPlanning is an essential need of every organisation irrespective of the size whether small,medium or large in order to achieve competitive advantage in market for longer duration. Forthis, it is essential for an organisation to have skilled and knowledgeable management who aremore capable to analyse market trends so that suitable policies and procedures can be developedagainst them (Bryson, 2011). The present assignment report is based on RL Maynard which isengaged in construction business. Organisation has a proposal of investment plan of bidding incommercial project for SME growth which is also considered in this report. The project includesthe growth opportunities that brings company ahead than their rivals. Along with this, differentsources of raising funds which support an organisation in make them more financially capableare also discussed under this report. Apart from this, all other aspects are also briefly describedunder this report in the context of RL Maynard.TASK 1P1 Key consideration for evaluating growth opportunities and justification of considerationsGrowth opportunities are the chances of an organisation to develop and grow and theidentification of these chances is the top priority for the management of a business. RL Maynardis a small scale organisation which is engaged in construction business. This company deals ingrowing industry due to which managers have to identify and grab various opportunities whichwill help their operations to increase. Growth and developmental opportunities are needed to beevaluated using various analyses techniques such as porter five force model and pestle analyses(Burton, 2010).Porters generic strategies: This is one of the analytical approach mainly centralisedaround enhancement of product and service. This model was given by Michael Porter in 1985 inhis books. Creating support and sustainability is one of the major objective of this strategy. Thisstrategy is a combination of for strategies which are elaborated as follows: Cost leadership: there are type of leaderships and differentiations are considered in thismodel which helps to consolidate the overall cost of producing the services and products. RLMaynard is a construction organisation and the cost of project and construction remains thecentral part of cost in construction organisation. This organisation have been making attempts toreduce cost of production so that profits could be enhanced.1
Cost focus: this strategy helps to find out new dynamics and ways to improve theuniqueness of products and services. It is considered that unique ways help to emphasise thescope of effective management and producing the products and services with in the organisation.This strategy leads RL Maynard towards sustainability by focusing on project criteria andprimary implementation cost which is incurred at initial stage while forming constructioncontracts and project plans. Differentiation leadership: this strategy helps to bifurcate the products and services oforganisation from competitors. This strategy contains three major elements of growth as reliableresearch, development and innovation, supply of high quality services, effective marking andsales market for offering different products. Innovation, advanced research, promotional eventsare the part of this strategy. The differentiation factor with this organisation is ability to deliverhigh quality with ideal utilisation of its limited resources.Differentiation focus: It is tried to focus upon improving quality and reliability ofproducts and series. It is mainly associated with analysing the quality required areas ofimprovement and deciding the growth plans for business. This will not improve the ways anddynamics of leadership inRL Maynard company but also explore the business tactics effectiveexecution.PESTLE AnalysesPolitical: Political factors are governmental influencers which effects RL Maynard byapplying laws regarding various permits and documentation. Example of these factors aretax policies, duties etc.Economical: Economic factors can vary from country to country. RL Maynard operatesin United Kingdom and has registered office in England due to which managers have toface problems occurs in UK economy including economic growth rate, foreign exchangerates, inflation rates etc.Social: Social factors are the influencers which are based on community and society.Changing choices and tastes about properties and construction techniques affectsfunctioning of RL Maynard. Few examples of social influencers are population, culture,attitudes, expectations etc.Technological: Being in a construction business, RL Maynard has to bring newinnovative technologies to build a positive image in the market (Chen, and et. al., 2014).2
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