Planning for Growth: Strategies and Opportunities for The Glitter Furniture Company

PLANNING FOR
GROWTH
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EXECUTIVE SUMMARY
The report briefly presented the growth strategy of The Glitter Furniture Company, a
London-based furniture consulting company. Task 1 discusses about Porter's overall strategy
& growth strategy from the PESTLE analysis by The Glitter Furniture Company then there is
the evaluation of the best growth opportunities by the Boston Consulting Group parent & the
GE / McKinsey parent. Explain the brief history of these two matrices & list the main
differences between them followed by Ansoff matrix to analyze The Glitter Furniture
Company products & markets (Adyana & Hanani, 2020). This matrix examines existing &
new product markets. In order to manufacture new products, the life cycle is analyzed from
introduction to stop. What follows is a critical analysis of growth options & pathways & the
risks associated with each option & how to mitigate them. Task 2 Conduct a detailed
assessment of possible sources of funding available, such as bank loans, crowd funding, peer
loans, angel investors, & venture capitalists. The advantages & disadvantages of each method
were discussed in detail, & recommendations were made to The Glitter Furniture Company in
order to tailor appropriate funding sources for business expansion & new product
development. Next is Task 3, in which a simple, detailed & consistent business plan is
developed, which includes financial, strategic goals, & methods to achieve the goals. In Task
4, if the business performs poorly, discuss various exit strategies, such as family inheritance,
bidding, sales of business, management buyouts, franchising, & initial public offerings, &
make recommendations based on this business happenings.
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INTRODUCTION
The growth of a company, whether it is small, medium or even large, is vital to the
long-term existence of the organization. SMEs are usually defined as small & medium-size
companies with fewer than two fifty workers. The European Union defines SMEs as
companies with fewer than two fifty representatives, a turnover of less than fifty million
euros, or a balance sheet of less than forty three million euros. When a business plans to
expand or develop its organisation in the national or international market, it needs to plan for
several aspects, such as resources, capital, & products (Birkin, Clarke & Clarke, 2017). The
task discussed the development strategy of The Glitter Furniture Company, an independent
furniture company based in London. The Glitter Furniture Company is looking for
commercial organizations with high-quality interior design & furniture that best fulfil their
needs of all budget sizes.
TASK 1
Analysing essential considerations for evaluating opportunities of growth & justifying these
considerations within a context of company
The expansion of an organization, whether in terms of scale or profit, is called
growth. Growth opportunities are multiple elements that any organization must consider
before formulating a growth strategy, including competitive advantages, required resources,
& impact on customers. Competitive advantage refers to the factors that enable an
organization to create products or services that are better or more profitable than competitors.
By creating bespoke products & sourcing from more than 500 furniture manufacturers, The
Glitter Furniture Company has opened up a niche market for itself. The Glitter Furniture
Company must determine a suitable growth opportunity to expand its business. In order to
determine appropriate growth opportunities, competitive advantages & growth
options/strategies (cost leadership, cost focus, differentiated focus, & differentiated
leadership) should be reviewed before making any decisions. The furniture business is geared
towards large companies & organizations & was established in 1997. Therefore, they have
the resources to finance the business. However, they can seek other financing options to gain
some reserve capital & the expansion experience of financial institutions. In addition, before
evaluating growth opportunities, they should consider whether their business is suitable for
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