(solved) Planning for Growth Opportunities: Assignment
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Added on 2020-12-10
(solved) Planning for Growth Opportunities: Assignment
Added on 2020-12-10
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PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Analysis of key consideration for growth opportunities in organisation context.................1P2. Evaluation of opportunities of growth by using Ansoff matrix............................................3TASK 2............................................................................................................................................5P3. Potential sources of funding with each one benefits and drawbacks....................................5TASK 3............................................................................................................................................7P4. Formulation of business plan for growth with financial and strategic objectives of scalingup.................................................................................................................................................7TASK 4............................................................................................................................................9P5. Exit and succession option for business with its benefits and drawbacks............................9CONCLUSION.............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONModern business environment is filled with ample number of opportunities for both smalland big enterprises that are dealing in different sections in all over United Kingdom. But, it hasbeen located that firms can only get those if they are rapidly making strategies and planning inorder to hit their targets. On the other hand, planning for growth can be stated as a strategicactivity that can be conducted by business person. Mostly, this is being done if organisations arelooking forward to expand their businesses (Barbour and Deakin, 2012). Firm that has beentaken under this assessment i.e. Guildford Tyre Company which was found in 29 June, 1976.Assignment is enclosed with various things like analysis of key considerations which willdirectly put positive impact on growth of business organisation. It will also show evaluation ofmany chances that will surely raise up with the help of Ansoff matrix. Apart from this, variousexit and succession options which will befit at the time of adopting best policies which willenhance profitability.TASK 1P1. Analysis of key consideration for growth opportunities in organisation contextOpportunity a word which every single organisation looks forward to have. In modernbusiness world, it has been located that in order to grow it is very much required for businessfirms to look into different aspects and then adopt the best strategies so that benefits can begained right on time (Brinckmann, Grichnik and Kapsa, 2010). In present context, Mr Nagjovinwho is head of Guildford Tyre Company and is looking forward to expand their business. Thiscan only be done if management will look into different aspects like examination of businessmarket, strategies that has been adopted by rivals and many more. Various key considerationsthat will help Guildford Tyre Company in grabbing opportunities in order to hit their targets aregiven beneath: Turnover: This is one of most vital key consideration which is carrying company'sgrowth where organisation relies on it completely. It has been located that if GuildfordTyre Company is looking forward to expand their business then it is required for them tolook into various aspects so that attention of consumers can be grabbed. In present report,as given under the financial documents of Guildford Tyre Company in the year of 20171
around £1,173,611 was the amount as fixed asset. Therefore, it can easily be seen thatfirm is at a good position. Market share: Piece of the pie assumes an imperative part in supporting at commercialcentre for a more drawn out time frame (Burton, 2010). In this manner, if an organizationis anticipating develop it is required for them to investigate diverse angles that areidentified with piece of the pie and take activities. Guildford Tire Company'sdevelopment rate 2017 was around 8.2% that has helped them in growing high focusedlevel for associations that are managing in same segment. Guildford Tire Company. Productivity: Administration and pioneers of Guildford Tire Company needs to continuesituating into various viewpoints and create distinctive procedures so that to convey itemsand administrations to purchasers appropriate on time. This situation willstraightforwardly enable Guildford to tire Company to enhance both efficiency andgainfulness in same way. Here, this organization is had some expertise in manufacturingtyres and selling them. Guildford Tire Company is delivering its quality tyres tocustomers in all over United Kingdom. This has helped in raising clients base. Staff: Employees of Guildford Tire Company can be considered as an advantage forthem. It has been found that staff individuals from Guildford Tire Company are quitegifted which has helped this firm in developing at commercial centre in fast way.Through this, Guildford Tire Company raised built up its development rate from 4.6% to6.3% in the time of 2017 which is can be expressed as a solid benefit proportion.Propelled Technology: Adopting refreshed innovation inside an association may help indeveloping in a quicker way. Alongside this, it has been examined that innovation can putboth positive and negative effect on business firm (Chapin, 2012). Consequently, it isparticularly required for Guildford Tire Company to investigate diverse angles andexamine the business advertise. Far from this, it has been found that purchasers requestgets changes where innovation can satisfy them through looking at their necessities.Guildford Tyre Company's Overview:Mission: Guildford Tyre Company is selling various services to its customers like fixingair conditioners, renewing batteries, brakes, diagnostics of cars, wheel alignment and manymore. They are looking forward to expand their business in other cities with the aim to become2
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