Planning for Growth: Factors, Strategies, and Funding Sources for Mia & Ben

Planning for growth

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK1.............................................................................................................................................1
P1: Describe the factors that evaluate growth opportunities and justify them with respect to
Mia and Ben................................................................................................................................1
P2: Evaluate opportunities for future growth of Mia & Ben through Ansoff's growth vector
matrix..........................................................................................................................................3
TASK2.............................................................................................................................................6
P3.Explain important sources of funding that are available for organisation including their
advantages and disadvantages.....................................................................................................6
TASK3.............................................................................................................................................8
P4: Develop a strategic business plan for Mia & Ben for growth opportunities of business.....8
TASK4...........................................................................................................................................11
P5: Evaluate the options for success of respective business with suitable significance and
drawbacks..................................................................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Planning is considered as the marketing function that helps in defining goals and
objectives, creating plans and strategies for business towards achievement of set goals, designing
schedules, delegating tasks authority and responsibilities for application of duties and jobs
(Defining Planning, 2020). It is an important element of business entities that plays important
role in deciding what to do, how to do, when to do it and who will do it.
Mia & Ben is a small scale food company that produce fresh baby foods purees with high
pressure processing (HPP) technology. It is founded in 2016 with its headquarter in London,
Great Britain and deals in organic, plant-based pouches that are made by fruits and vegetables.
In this report factors that help in identifying growth opportunities for Mia & Ben are
discussed. Further, Ansoff's growth vector matrix is used to evaluate growth opportunities for
business, identify financial sources with considering benefits and drawbacks. In addition
business plan and succession options are explained in context of Mia & Ben with suitable
benefits and advantages.
TASK1
P1: Describe the factors that evaluate growth opportunities and justify them with respect to Mia
and Ben.
Mia & Ben is small business enterprise that offer organic food products made with
traditional & cultural ways with considering of fresh fruits & vegetables in production
and making of items.
For identifying opportunities for growth of respective organisation pestle analysis is used.
It helps in providing factors that has direct impact on company's performance and provide ways
to explore opportunities and reducing threats so as to ensure future expansion of business .
Pestle Analysis:- It is associated with external factors that influence a business and helps
in exploring opportunities and threat that impacts future sustainability of firm. In terms of
respective firm these factors are considered as follows:
Political: It is related with elements such as- government rules and regulations, political
stability of nation, rates of tax etc. (Friedmann, 2020). that has an impact on position of
respective firm and future expansion of business. Government policies of allowing local
1

organisations to enter in several areas of UK, tax relations for local enterprises from 28-30%
that are in favour of Mia & Ben and creates opportunities for growth of business.
Economical: This factor is consists components like economic growth rate of country,
recession and inflation rates that influence expansion of business. UK faced huge recession that
affected economic growth of nation thus, through offering effective quality of goods at
favourable prices respective organisation can gain positive impact of this factor of pestle
analysis. This helps in formulating strategies for growth and expansion of business in parent
country.
Social: It is also another important factors which includes elements such as- beliefs and
values of people, geographical & regional differences of nation, buying habits of customers, and
some other that affects a business in terms of exploring and expanding business. UK's people are
more quality & health conscious and Mia & Ben offers organic and healthy products that leads to
make healthy food habits in children. Thus, social factor of pestle analysis has positive impact on
respective business that leads to opportunities to expand its business in different areas of UK.
Technological: It consists as components such as- technological innovation and
advancements, use of robotics etc. that affects future growth of a business. Customers in UK are
more technology driven and wants reliable & convenient services (Perera, 2017). Mia & Ben
uses digital technology in its production and manufacturing and offering online services. Thus,
this creates opportunities for long-term sustainability of respective business.
Legal: It is related with legal obligations and legislation policies of a country, consumer
safety laws, labour laws, health & safety laws that has an impact on business and creates whether
opportunities or threats for future growth. Govt. of United Kingdom is very strict about
consumer interest and labour safety laws that creates barriers for respective organisation. Thus,
in terms of dealing with factor Mia & Ben should focus on considering these laws in its business
policies.
Environmental: Last and final element of pestle analysis is related to climate and nature
policies, environmental protection laws of country that impacts business in may be positive or
negative ways. UK's government is more concerned and strict about environmental laws and Mia
& Ben uses organic products thus, it has positive impact on firm's position (Shtal and et. al.,
2018). Further respective organisation should focus on use of renewable sources of energy is
2