Planning for Growth in Vectair Holdings Limited : Report
Added on -2020-07-22
| 16 pages| 3910 words| 155 views
Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 16 pages
PLANNING FOR GROWTH
Table of ContentsIntroduction......................................................................................................................................3Task 1: LO1.....................................................................................................................................3P1: Key considerations to evaluate growth chances for the organisation with impact on digitaltechnology........................................................................................................................................3P2: Ansoff’s growth vector matrix..................................................................................................6Task 2: LO2.....................................................................................................................................7P3: Potential sources of funding available to business with benefits and drawbacks of eachsource...............................................................................................................................................8Task 3: LO3.....................................................................................................................................9P4: A business plan for growth including financial information and strategic objectives to scaleup the business.................................................................................................................................9Task 4: LO4...................................................................................................................................12P5: Assessment of exit and succession options for the company with pros and cons of everyoption.............................................................................................................................................12Conclusion.....................................................................................................................................13Reference List................................................................................................................................15
IntroductionThe aspect of entrepreneurship drives the economic growth of a country as this view can bejustified by the growth of national economy in some countries who experienced poverty somedecades back. Many countries including China has adopted this norm to foster their economicdevelopment. This same benefits are important for the national economy of UK after the periodof Brexit. This assignment will focus on the Vectair Holdings Limited of UK that is a popularsmall medium enterprise dealing in hygiene products. This company is based in Basingstokewhereas the current number of employees working in this company is near 125. In the year 2015,this SME managed to generate a sustainable revenue of £19m whereas the gross asset of thecompany is £9mas per date. In this rapid era of digital technology, there are many challenges andopportunities for growth for a SME like Vectair Holdings (Vectairsystems.com, 2017). Thisassignment will briefly discuss about the growth opportunities for the company along with thevarious method of business funding. Apart from that, this assignment will discuss a business planfor making growth and processes of exiting the business operations by an owner of SME.Task 1: LO1P1: Key considerations to evaluate growth chances for the organisation with impact ondigital technologyThe upsurge of digital technology has brought revolution in the business spectrum of SMEs inentire world. Vectiar Holdings are the witness of the transformation of business activities andmodels for business due to the use of technological advancement for growing faster in thecompetitive market. The digital technology has come up with intense market opportunities ofwealth based choices. On the other hand, the digital technology is effective to make existingproducts of Vectair Holdings more profitable for them whereas it can also make the upcominghygiene products of the company more innovative through relentless development of diverseportfolio of the products (Bharadwaj, 2010). The impact of digital technology is evident on thesystems on administration, communication, storage and distribution and production.The digital technology provides mainly three kind of considerations to avail the growthopportunities for Vectain Holdings that are mobility, big data and cloud computing. Apart fromthat, the promising advancements of the business materials and techniques of fabrication are also
expanding due to the digital technology. Vectair Holdings needs to attain the fragment economyof UK market through availing the digital growth opportunities. Apart from that, the digitaltechnology can allow the company to develop their product prototypes to enhance theproficiency in outsourcing and product distribution in the market.The advantage of mobile technology through the proliferation of the operating systems andmobiles can provide growth to the business of Vectair Holdings through making expansion oftheir business. The IT consumerization is constantly growing with time as this trend is enhancingthe use of consumer applications and mobile devices. Vectair Holdings can enhance theproductivity of their employees through using the mobile technology whereas this can also helpthe business entity to cope up with the changes of market with sheer ease whereas it can also behelpful to avail the market opportunities. The use of mobility also can help Vectair in order todrive down the cost for equipment for enhancing the financial growth of the company (Collins etal. 2003). The employees can get a freedom sense as mobility can help them to get an access tothe organisational information whereas this can act as motivation for employees to enhance theirperformances to trigger organisational growth. On the other hand, it expands the workingparameter for the employees.The factors to be considered to evaluate the growth opportunities are:Potential for growth: The growth opportunities need to be considered based on their viability toallow the Vectair to expand their business with perpetual growth.Infrastructure: The infrastructure is another key consideration to evaluate the digital growthopportunities for the chosen SME. The Vectair Holdings ought to analyse the organisationalinfrastructure properly before implementing the mobilized technology of digitalization to fostergrowth. There needs to be proper analysis of the skilled employees and software-hardwarerequirements to avail the digital growth opportunity for market expansion.Market of the products: The entrepreneur of Vectair also needs to analyse the market demand ofthe hygiene products of the company before availing the digital growth opportunity. Otherwise,it will be impossible to measure out the difference after availing the digital technology (DeGooijer, 2010).
Found this document preview useful?
You are reading a preview
Upload your documents to download
or
Become a Desklib member to get accesss
Paid Plans
Free Plan
Single Unlock
Monthly Plan
Yearly Plan