Planning for Growth - Quantum Technology Ltd Assignment
Added on 2021-02-19
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................2PART 1............................................................................................................................................2Explicate the basis of competitive advantage for business..........................................................2Assessment of the opportunities accessible to business..............................................................3Assessment of options for growth, apply Ansoff’s growth vector matrix with assessment ofrisk of each option.......................................................................................................................4An assessment of options for financing growth..........................................................................5Recommendation for business.....................................................................................................6PART 2..........................................................................................................................................10Exit or succession strategy for small business...........................................................................10Conclusion.....................................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONPrimary objective of organisation is to gain success as well growth within market. Astrategic course of action which endows assistance upon an enterprise for carrying out growth asdevelopment of entities is regarded as planning for growth (Albert, 2017). Major responsibilityof top executives is to furnish employees with supervision and guidance by which organisationcan align with long term objectives of growth. This report is based on Quantum Technology Ltdfor acknowledging and gaining knowledge with respect to planning for growth. It is a smallenterprise which provides marketing services to tech organisations which are based in UK. Thisassignment deals with Ansoff Matrix and growth strategies which can be utilised by firm. Alongwith this, different sources of finance are illustrated with their strengths and weaknesses.Furthermore a business plan has been provided.PART 1Explicate the basis of competitive advantage for businessCompetitive analysis: The initiative taken by organisation for evaluation of variousstrategies of rival organisation. With respect to Quantum Technology, external analysis has beencarried out by management for making improvements in their existent services by which theycan intensify their sales within market (Allmendinger and Haughton, 2012). It has beenevaluated that the major resources are skilled and experienced employees who carry out theirresponsibility in an effective manner by which satisfaction levels of customers of QuantumTechnology can be intensified. Firm possess ability to serve IT sector with their valuableservices of marketing. A core competency of Quantum technology is to provide effectualservices to their customers at reasonable as well as affordable prices through which they canacquire more number of clients. Assessment of the opportunities accessible to businessEvery organization must examine market in effectual manner for finding out crucialvariations in firm by which overall effectiveness can be enhanced. With respect to this,management of Quantum Technology is making use of diverse framework; they are Porter’sgeneric strategy and Pestle analysis for analyzing opportunities which are available toorganization (Barbour and Deakin, 2012). They are elaborated below:
Porter’s Generic Strategies: These strategies are responsible for gaining competitive edgein target market. It includes different strategies, they are explicated below:Cost leadership:Quantum technologies can have competitive edge by providing marketingservices at minimal cost through which more numbers of customers can be attracted towardstheir services (Beatley, 2014). Differentiation:Within this strategy, Quantum Technology emphasise on furnishing uniqueservices through which customers interest can be influenced. Focus: This strategy is basically formulated for particular segment of customers.Furthermore, they are classified in two parts they are cost focus as well as differentiation focus.In context of Quantum Technology, the organisation can make use of cost focus strategy forreduction of prices for services provided by them within a specific market scope. In case ofdifferentiation focus, the organisation must bring in innovative services with respect to targetedsection. With respect to above mentioned strategies, Quantum Technology can opt for costleadership by which they can grab attention of most of the people’s.PESTLE AnalysisPestle analysis is carried out for analyzing impact of external factors on organization in bothpositive and negative aspects (Eddleston and et. al., 2013). The manager of QuantumTechnology has carried out Pestle analysis to understand impact of external environment onbusiness. All the external factors are mentioned below:Political: Variations within political situations prevailing in United Kingdom will create animpact on operations of Quantum Technology. As alterations within taxation policies of UK willlead to enhanced cost of their services.Economical: The recession period has created wide range of opportunities for QuantumTechnology as due to this various firms has fired their employees in bulk. This created an impacton them and they started moving to have their own business. This provided QuantumTechnology with an opportunity to provide services to those entrepreneurs by carrying outmarketing of products which are being offered by them through the usage of effectual marketingstrategies (Glock, Jaber and Zolfaghari, 2012). As a result, they (entrepreneurs) will becontributing within growth of customers’ of Quantum Technology within market of UK.
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