Planning for Growth Opportunities Assignment
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Added on 2020-10-22
Planning for Growth Opportunities Assignment
Added on 2020-10-22
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PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Key considerations for evaluating growth opportunities.......................................................3P2 Growth opportunities by implementing Ansoff's growth matrix...........................................7TASK 2..........................................................................................................................................10P3 Potential sources of funding and its advantages and disadvantages....................................10TASK 3..........................................................................................................................................12P4 Prepare a business plan........................................................................................................12TASK 4..........................................................................................................................................14P5 Assess succession or exit options for small enterprise with its advantages anddisadvantages............................................................................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17
INTRODUCTIONPlanning is very important for every business in order to make the business successful.Every successful organisation mainly focus on regular review of enterprise plan in order toanalyse future growth (Barbour and Deakin, 2012). Small businesses require to analyse theircurrent performance after formulating strategies as well as policies for gaining developmentwithin upcoming market. In addition, planning will provide a basic structure to meet balancebetween activities and its work. Cleenol Group is an independent private company run as well asowned by themselves. They produce an extensive range of hygiene and cleaning products. Theysell the ancillary goods like as cloths, toilet tissue, dusters, brooms, brushes, refuse sacks and soon. In this report it involves provision for identifying the growth opportunity in the organisation.Ansoff's matrix is very appropriate for developing their firm. Along with this it state the varioussources of raising finance for completing business activities effectively. TASK 1P1 Key considerations for evaluating growth opportunitiesPlanning for growth is an strategic business activities which aid the supervisors to planand track the performance of enterprises. It allows company to properly use the resources ofexternal environment. Therefore, digital technology disruption will help to differentiate fromcompetitors. In current scenario, the Cleenol Group is going to plan for improving its functionalareas by applying digital technologies (Planning for growth, 2017). It will help small enterprisesin gaining higher level of market share and increase its revenue within a span of time. In this,Cleenol Group is a small business which manufacture a hygiene and cleaning products by usinglatest technologies. Thus, company is using latest tools and techniques for making theirmanufacturer process easier. In order to enhance their profit margin and sales revenue, firmsdeveloped an effective plan which provides guidance to all activities which are helpful for futuregrowth as well as success of the firms. Planning help workers to meet all operations andpractices in an best possible manner. With this, it will also help in facing upcoming challenges aswell as threats in a marketplace. Their are various main considerations for growth opportunitiesare given below: Competitive analysis: It is an most important components of planning tools and techniques forthe company at higher level. Cleenol Group is manufacturing a best quality of cleaning and
hygienic goods by providing best possible services to their buyers. Firms help in formulatingeffective strategies as well as policies which help company to achieve competitive position atmarket. In present scenario, several changes are taking place which prevent the businessoperations and activities. Hence, at the time of making plans it require to influence present andpotential rivals. Competitors analysis can be done by using porter's generic modelThis model will aid in analysing external rivals of the company while developing plan forcompetitive markets as well as trends. Porter's generic model was an proper framework in orderto analyse external market. Its aim is to understand the rivals of the company effectively. Thismodel is utilized by company to introduce proper position within industry as well as make higherprofits from enterprises (Brinckmann, Grichnik and Kapsa, 2010). It is important thatmanagement of every company is to make proper policies and tactics to execute activitiesproperly. Hence, there are several strategies which help Cleenol Group to make competitiveadvantages which are as follows: (Source: Porter's generic model, 2018)Illustration 1: Porter's generic model
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