Planning for Growth

Planning for Growth

INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Key considerations for evaluating growth opportunities and considerations.........................3
P2 Evaluate the opportunities for growth applying Ansoff’s growth vector matrix...................6
TASK 2............................................................................................................................................7
P3 Sources of funding available to businesses and their benefits and drawbacks.......................7
TASK 3............................................................................................................................................9
P4 Business plan for growth that includes financial information and strategic objectives for
scaling up a business....................................................................................................................9
TASK 4..........................................................................................................................................14
P5 Exit or succession options for a small business explaining benefits and drawbacks...........14
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Business growth is very much exciting factor for an organisation and it can be possible
by bring changes in business activities. It is a strategic business activity that helps to owners to
plan and measure growth of an organisation regarding their revenue. It permits them to allocate
resources for centred effort in adopting changes by bringing digital disruption and differentiation
in their products and services. There are some steps that help in reaching definite goals and
objectives to bring growth in organisation by bringing major changes in areas that are very much
crucial for an organisation. This report is based on Guildford Tyre Company which is a private
organisation that manufactures tyres and established in year 1976. They also deal in many
spheres in which reparsing, brakes, air conditioners and batteries with many more sectors. This
report is based on growth opportunities that exist before an organisation to lead in competitive
market with focus on various strategies to evaluate opportunities to remain always leading. To
attain growth organisation have to evaluate funding sources and their benefits with drawbacks
and to plan organisation have to prepared a business plan by gather various kinds of information
and strategic objectives in proper way.
TASK 1
P1 Key considerations for evaluating growth opportunities and considerations
Every business organisation always enlarges their business opportunities and it is very
much essential for a small business to grab opportunities in effective manner (Barbour and
Deakin, 2012). To enlarge businesses opportunities organisation have to build an efficient
business plan and polices. Guildford Company of tyre which is a small business consists of fewer
employees that give their services. It is very much obligatory to grab opportunities in proper way
to attain organisational goals and objectives in proper way.
Competitive advantage
Competitive advantages are one of the most important factors for an organisation to
produce goods and services at cheap cost to bring desirable goals and objectives (Beatley, 2014).
Guildford tyres which are a small tyre manufacture company that to attain growth design and
develop strategy that helps in gaining competitive advantage. To attain competitive advantage
organisation have to follow or build some strategies that are as follows:
Competitive advantage milestone for advancement

To attain competitive advantage organisation have to accumulate resources, capabilities
and core competences that helps in evolutes’ various factors. To evaluate competitive strength of
an organisation they use porter's generic strategies that are as follows:
Cost leadership
Cost leadership is one of the most important tactics and plan that helps in build an
distinctive strategy by setting price at low rate (Chapin, 2012). In context of Guildford Tyre
Company they avail various kinds of tools and methods that help in evaluate needs and demands
of consumers and accordingly organisation plan to expand.
Differentiation strategy
In that strategy products and services should be offered in innovative way that helps in
create brand loyalty in front of consumers and enlarge business opportunities (Denton, Forsyth
and MacLennan, 2017). That strategy and tactics helps to evaluate major areas in which
innovation is very much potential for an organisation and accordingly they conducting research
to remain always competitive in market. In context of Guildford Tyre Company they use strong
quality products and at low cost that helps to remain always competitive in marketplace.
Cost focus
The organisation Guildford Tyres company majorly focus on providing product and
services that are innovative in nature with low cost. With the help of various strategies,
organisation can be able to find out major spheres in which sphere major improvements are
necessary to reach at desirable goals and objectives. By conducting market research and analysis
before launching a new product or service in to market. For instance various kinds of strategies
and tactics help to organisation to develop products and services as per the requirement of
consumers.
Differentiation focus
The major market and consumers of Guildford tyre company by enhancing innovation in
their products and services that help in enlarge business opportunities in better way. By adding
features that are major demanding areas of consumer needs and wants that directly and indirectly
enhance brand loyalty in marketplace. With the help of differentiation strategy organisation can
be able to compete in competitive environment and gain sustainability in market.
Competitive advantage for opportunities for growth: