(Solution) Planning for Growth Opportunities- Assignment

Planning for Growth

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Analysing key considerations for growth opportunities and justifying within firm's context
................................................................................................................................................1
M1 Growth methods for SME................................................................................................2
P2 Assessing growth opportunities by using Ansoff’s growth vector matrix........................2
TASK 2............................................................................................................................................4
P3 Discussing sources of finance and explaining benefits and limitations of sources...........4
M2 Justification of sources of finance....................................................................................7
TASK 3............................................................................................................................................7
P4 Producing business plan for firm for future growth including financials.........................7
M3 Producing business plan.................................................................................................10
TASK 4..........................................................................................................................................10
P5 Evaluating exit options for organisation and benefits and limitations of each options...10
M4 Succession methods for firm..........................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Planning for growth is required by which business can attain desired objectives with
much ease. Present report deals with Exotic Coffee Shop which will start its new business by
providing coffee to customers in Marylebone location in London. Business plan is outlined with
main considerations and growth opportunities are assessed. Furthermore, sources of finance wit
advantages and disadvantages are discussed. Succession points are highlighted by explaining
benefits, drawbacks etc. Hence, it can be said that through various sources, Exotic Coffee Shop
will be able to generate profits and new business venture will be successful.
TASK 1
P1 Analysing key considerations for growth opportunities and justifying within firm's context
Every firm starts its business operations with the view to provide effective services and
goods to customers and garner profits. This is the main objective of organisation so as to earn
profits and increase market share by satisfying consumers in realistic manner. It also applies to
an SME which operates business at smaller level and employees are nearer to 250 only. In this
scenario, it is required that SME should perform well so that it may be able to satisfy consumers
and build its market standing in effective way. Exotic Coffee Shop which is a new start-up will
operate coffee shop in UK to increase satisfaction level of customers and garner profits in the
best possible manner. In relation to this, key considerations for growth opportunities of firm and
justification is listed below-
New products and services-
Organisation is required to provide better products and services so that customers may be
satisfied in effectual manner. It is particular important for Exotic Coffee Shop as it will have to
impart quality coffee and related items in order to build its market standing and eventually
enhancing customer satisfaction up to a high extent (Cocks, 2017). The services and items needs
to be expanded and certain innovative products are required so that portfolio can be
strengthened. This will lead to expansion of services and satisfaction of customers may be
enlarged quite effectually.
Competitive advantage-
1

The competencies are part of business and organisation need to start its operations by
effectively enhancing customer satisfaction to great heights. It is required that strategies of rivals
present in the market should be perfectly analysed so that company may be able to frame well-
mannered strategies in order to outreach competitors and build market by maximizing customers.
Hence, competitors are required to analysed by Exotic Coffee Shop so that new ingredients and
flavours may be made and coffee can be provided to customers by enhancing satisfaction level.
Innovation-
The innovation is required so that organisation can be able to enhance products and
services up to a high extent. Furthermore, since business will start its operations in the
Marylebone city in UK. It is essentially needed that organisation may effectively able to satisfy
customers. For accomplishing this, Exotic Coffee Shop will open game zone in the shop so that
people who come with their families and friends can enjoy the same along with coffee.
Moreover, allied services will be given such as fusion of food items by which organisation can
effectively attain customers who love fusion of different continents (Gallagher and et.al., 2016).
This will automatically enhance customer loyalty towards coffee shop as they will be provided
with products and services which would be entirely different from other rivals.
It can be said that Exotic Coffee Shop would effectively enhance its product portfolio as
innovation is needed so that new customers may be attracted of all ages and location of
Marylebone will also help to enlarge and lure more of the coffee drinkers.
M1 Growth methods for SME
There are various growth methods which can be used by business in order to attain
growth in the best possible manner. Ansoff's matrix is required to be used by the business so that
well-mannered strategies can be implemented and better growth may be attained.
P2 Assessing growth opportunities by using Ansoff’s growth vector matrix
Growth of organisation is required to be attained so that business may be able to enhance
its development in effective manner. The Ansoff’s growth vector matrix is useful as it helps to
formulate strategies so that business may be able to stand in the market with well-structured
strategies so as to beat rivals in the best possible manner. It is essentially required in order to
attain benefits by enhancement in overall growth. By implementation of such matrix, business
2