Planning For Growth

This project analyzes the growth strategies for Camcolr, a small-scale digital camera company in the UK. It examines key considerations for evaluating growth opportunities, applies Ansoff's growth vector matrix, assesses potential funding sources, designs a business plan for growth and scaling up, and evaluates exit or succession options. The project provides a comprehensive framework for planning and executing business growth strategies.

Planning For Growth

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key considerations for evaluating growth opportunities.......................................................1
P2 Apply Ansoff's growth vector matrix for opportunities evaluation.......................................3
TASK 2............................................................................................................................................5
P3 Assess potential sources of funding available to business.....................................................5
TASK 3............................................................................................................................................6
P4 Design business plan for growth and scaling up a business..................................................6
TASK 4............................................................................................................................................8
P5 Assess exit or succession options for small business.............................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Planning for growth is essential aspect for small and medium-sized firms to develop and
expand to enhance position and reputation in market. For this, entrepreneur require to use
resources efficiently and formulate appropriate strategies to execute operations effectively.
Market research is appropriate activity conducted by individual to have accurate and complete
information about various ideas and utilising business opportunities. Small firms primary goal is
to improve functional areas to accomplish objectives and construct brand value in marketplace
(Valler, Phelps and Wood, 2012). Along this, changes in technologies is made by head personnel
to build things different from rival firms. Present report is based on Camcolr which is small scale
enterprise established in UK. This company provides digital camera and is aiming to grow
market share. . This assignment specifies key consideration and Ansoffs-matrix used by
entrepreneur to examine growth opportunities. Apart from this, different funding sources
analyses and business plan constructed by superior to accomplish objectives timely.
TASK 1
P1 Key considerations for evaluating growth opportunities
Business growth is essential component for each organisation to sustain its position in
marketplace and expand with time. For this, management require support and joint efforts of
subordinates to conduct operations effectively. They even need to provide duties and tasks to
members in respect to their abilities and skills, so that processes are executed in proficient
manner. In Camcolor, business growth is aspect which is consider by entrepreneur to enhance
working level and make adequate plan to attain targets within defined deadline. Competitive
analysis and porters five forces model are various tactics used by manager of small business to
gather additional information of the market. New concept and tactics are used by manager to
utilise resources and construct appropriate reputation and goodwill in market. Thus, these are
considerations used by firm to measure and accomplish high growth are stated beneath (Ziari and
et. al., 2012):
Incorporation of digitalisation in business: This aspect define that digital tools and
technologies are implemented in system to enhance number of operations and complete activities
within defined time. Small scale firm require proper utilisation of material and manpower, so that
funds are utilised efficiently. As, digital platform and techniques are expensive, so they are less
1

preference by top personnel. But, management of Camcolr acknowledged importance of
digitalisation in firm and uses latest technologies such as metamaterial, proprietary lens, image
processors and CMOS sensors to deliver adequate features in camera. Storage, good quality of
picture capability and many other tactics are provided by company to attract large number of
buyers.
In-depth competitive analysis: This is best technique which is used by businessperson to
assess all factors which directly influence position of firm and its growth. External analysis is
conducted by manager to have complete information about competitors, thereby formulate
strategies to make system function properly. Camcolr is digital firm which provides quality
camera with good features to grab attention of large people. This help company to create distinct
image in marketplace and higher position than rival brands (Eyvindson and Kangas, 2015).
Profitability: This is another consideration which specifies that small business require to
gain adequate amount of revenue to sustain its position and image in marketplace. Entrepreneur
conduct market survey to assess areas which are profitable. Digital technology is sector which
has good profitability and opportunity for businessperson to conduct operations and gain
adequate amount of revenue from business. Camcolr is new firm which has large opportunities
to have sufficient funds by using strategic alliance, joint venture and franchising. Manager of
Camcolr uses franchising tactic to sell camera under name of popular brand to attract people by
constructing good image and reputation in market.
Porter five force model- This theory is developed by Professor Michael Porter in 1979
to help businessperson to anticipate scope of growth and competition level in market. These are
various factors which manager of Camcolr assess are defined below (Porter’s Five Forces of
Competitive Position Analysis, 2018):
Threat of new entry: Each and every industry has large number of firms which enter into
market to utilise opportunities and gain sufficient profit from business. In Digital technology
industry there is large profitability chances which determine that new enterprises enter to utilise
these conditions. This impacts on sales volume of Camcolr as buyers have large number of
substitute products which they purchase in respect to quality of camera and prices.
Competitive Rivalry: Small firms require to have complete knowledge about rival firms,
so that resources are utilised properly and appropriate things are delivered in marketplace.
2

Camcolr is new company which need to provide quality camera with good features which are
distinct from competitors.
Supplier power: Superior are entity which provide items and raw material to firms to
manufacture and deliver adequate products and services in market in according to demands of
people. This helps businessperson to have utilise funds and storage expenses. Thus, manager of
Camcolr maintain relations with suppliers, so that they have adequate material to conduct
business activities smoothly (Wiechmann and Bontje, 2015).
Buyer power: Organisation gives importance and value to customer and their
requirements, as they are individual which purchase things and help firms to generate adequate
revenue. People prefer to buy things which are of good quality and comprises appropriate prices.
Manager of Camcolr has added adequate features in camera to attract large number of buyers.
Threat of substitution: Businessperson of Camcolr assess market research to have
complete information about substitute products which fulfil same need of buyers that is mobile
phone. Thus, it is essential that camera had features to give some distinctness to buyers.
Porter's Generic Competitive strategies: These are four tactics which are adopted by
firms to establish competitive advantage in respect to rivals are stated below: Cost leadership: This strategy define that companies expenses are lower down for
delivery of products and services at reasonable prices. Management is able to increase
their market share which help them in enhancement of profitability. Camcolr is
competing with other firms by conducting business as low cost producer. Thus, seniors
are able to attract large number of customers to avail their services. Differentiation: It is another strategy which state that items and services are
manufactured by firm distinct and attractive than rivals. Features, durability, functionality
and other attributes through which value is provided to buyers. Camcolr offers digital
camera with new and advanced features through which management products are
different from competitor.
 Focus: This is strategy which is adopted by firms whose concentration is on niche
market. Management ascertain demands and needy of people which are unmeet for
conducting business activities for delivery of products and services. Cost and
differentiation are two focus by which company either focus on expenses reduction or
3

providing innovative item. From both, Camcolr uses differentiation focus through which
products are made in respect to needs of buyers.
Therefore from above strategies, cost leadership is used by Camcolr which help
management to provide products at reasonable rates. This benefit company to increase its market
reach and customer base for enhancing sales volume and revenue.
P2 Apply Ansoff's growth vector matrix for opportunities evaluation
An entrepreneur examine chances of expanding business activities and position in
marketplace. Organisation have large number of possibilities to diversify their market segment
and increase operations to get adequate results and timely complete objectives. For expanding
business, management of Camclor acknowledge future opportunities to determine all factors
which directly as well indirectly affect on activities. Superior frame plan and strategies for
making system function effectively. Along this, top personnel improve operations and business
area by using digital equipments and techniques. With help of Ansoff Matrix, superior identify
growth aspects by comparing current products with market demands (Grover, Bokalo and
Greenway, 2014).
Ansoff's Growth Vector matrix was propounded by H. Ignor Ansoff in 1957. It is an
effective technique which manager of Camcolr uses to assess extent of enlargement. This help
them to make transformation in policies and tactics for expansion. Thus, these are four
components of grid which are described below:
Market penetration: It is first part of matrix which is best technique used by head
personnel to conduct adequate business operations and accomplish targets timely. This grid
defines information about products which are similar, but have different target market.
Management require to formulate appropriate policies and tactics which help them in growth of
business. Camcolr is small scale firm which need to have loyal customers and give customer
lifetime value. It is responsibility of superior to penetrate into different market by using modern
technologies and simultaneously improving quality of products offered to consumers.
Product development: This is next part of grid which specifies that manager of each firm
require to use adequate tools and techniques, so that appropriate variety of products are delivered
in market. It is essential for small scale enterprises to grab attention of large number of people by
providing innovative and creative products. Camcolr customers are local people of UK which
helps manager to have complete knowledge about requirements and choices of people. Buyer's
4

feedback and competitor's offerings are assess by entrepreneur to make changes in camera and
add new features to attract large number of people. This help firm construct competent position
and goodwill in marketplace (Keough, 2015). GoPro and various other changes in camera that is
high performance lens and CMOS sensors is implemented in product to enhance reputation of
Camcolr and attract large number of buyers.
Market development: This is another part of matrix which defines that organisation
require to provide products and services in according to conditions prevailing in market. It is best
approach which helps manager to enter into new market segment to increase customer base and
sales volume. New clients are ascertained by Camcolr which is small firm to enlarge business to
new geographical areas and locations. Company uses new and advanced technologies and
techniques to produce camera with unique features and quality performance to attract large
number of people. It is management duty to use adequate sales channels to deliver adequate
things in marketplace in according to demands of people.
Product diversification: It is last component of Ansoff matrix which defines that firms
require to deliver different variety of products and services in marketplace in according to needs
and requirements of people. Management launch new items to attract large number of people by
providing them creative and innovative things (Li, Mobin and Keyser, 2016). Camcolr is small
scale firm which provides different range of camera with adequate features and technologies
implemented in system. Diversification is best tactic which helps entrepreneur to utilise future
opportunities and deliver adequate variety of items in market. This helps firm to establish
adequate position in market and generate good amount of profit from business.
TASK 2
P3 Assess potential sources of funding available to business
Finance plays necessary part in each and every organisation, that is small and large scale
firms. It is essential that management have adequate amount of money to purchase sufficient
material and workforce for firm. Along this, they even require to assess different funding sources
and make appropriate decisions and select best tools.
Camcolr is small scale firm which has outlet in UK require that manager has adequate
capital which is used properly to conduct operations effectively and accomplish objectives within
defined time. Along this, entrepreneur had taken various contract to complete demands of market
5

and establish adequate position in respect to rival firms. 2007/JN - High Resolution Thermal
Imaging Cameras is one of project which is taken by Camcolr. This contract objective is to
deliver quality cameras which have distinct features and attributes such as good storage, quality
glasses, high definition, focus and so on (MacLeod, 2013). Overall value of contract is £96k, but
only £20k amount is available with Camcolr. Thus, it is necessary that management takes
additional capital from different sources of funds which are stated beneath:
Bank loan: This is efficient and best method of raising money used by organisation to
take help from financial institutions which have sufficient funds to lend to individuals as well
firms for certain time duration and at fixed rate of interest. Three kinds of loan which are
provided by banks that are short term (2 to 3 years), medium term (3 to 5 years) and long term
(above 5 years). Advantages: Bank loan is appropriate tool for business firms as interest paid by
entrepreneur is tax deductible. Government gives benefit to organisation to encourage
them by giving them benefits in taxation. Disadvantages: Business person which didn't pay interest of loan on time will have to
suffer from different complication and difficulties. Bank seize assets of company to
recover their funds which impacts on reputation and image of firm in marketplace
(Mitchelmore and Rowley, 2013).
Angle and venture finance: This is another option of fund raising which defines private
investors that grant money to small and medium-sized enterprises which have limited amount of
money. Advantages: It is cheaper technique which benefits management to utilise funds properly,
as they didn't need to pay monthly payment of interest of capital taken by firm.
 Disadvantages: This method has various difficulties and problems which are lose of
entrepreneur control over company, as angel investor grant money in against of profit
share in company. Thus, they have rights and power in decision making process and need
to get adequate amount of revenue. This impacts on business and functioning of manager.
Crowd funding: This is another fund raising method which defines that individuals group
themselves in particular team to utilise their funds by collecting at one place, thereby investing in
particular company. People either come together through online means or offline which is
convenient for them (Moseley, 2013).
6

 Advantages: It is fast technique which help entrepreneur to take feedback and support
from experts to enhance their business ideas. Along this, crowdfunding have no
regulations of authorities which defines that investors knowledge determine interest rate
and conditions.
 Disadvantages: Crowdfunding has demerit which are insecure functioning, as it has no
specific rate fixed. Along this, number of members and their funds availability determine
amount of funds they invest in business firms.
Thus, bank loan, crowdfunding, angle and venture finance are various sources of funding
which are used by organisation to have adequate amount of capital. In Camcolr, bank loan and
angle and venture finance is used by businessperson. Bank Loan aid superior to arrange funds
for expanding business. They provide short, medium and long term loan through which
appropriate money is get by firm. Besides this, senior gain benefit in respect to rebate in taxation
from government. This help entrepreneur to have sufficient money to purchase material and
adequate manpower to execute operations effectively and complete projects within defined time
(Galland, 2012).
TASK 3
P4 Design business plan for growth and scaling up a business
Business plan is framed by management of Camcolr to define appropriate operations and
objectives which are used to design system and make it function effectively. It is essential that
small scale firm utilised resources efficiently. For this, entrepreneur responsibility is to formulate
adequate strategies and tactics which help them to develop and grow business with time. Thus,
business plan is best technique used by manager to execute activities and achieve targets within
defined deadlines.
Business plan formulated by management of Camcolr is described beneath:
Company Description: Camcolr is digital sector small scale firm established in UK.
Different variety of digital camera and camcorder with distinct features such as high definition
lens and many other attributes are present in product. Along this, camera with GoPro tactic is
also provided by firm to have adequate number of customer base to enhance sales volume and
profitability. Entrepreneur of Camcolr is presently engaged in government contract which is to
construct camera with thermal imaging facility (Beatley, 2014).
7

Mission: Mission of Camcolr is satisfy clients by providing them quality camera with
adequate features and attributes. Innovative and unique products are delivered by firm to enhance
revenue and establish appropriate reputation in market.
Strategic objectives: Entrepreneur of Camcolr has formulated goals to direct members
and conduct adequate business operations to accomplish objectives timely. SMART objective is
tactic which is used by businessperson to utilise resources efficiently. It is necessary that
objectives framed are specific, measurable, achievable, realistic and time bound. These are
objectives of Camcolr which are stated below:
 Use advanced technologies to manufacture quality cameras with distinct features such as
high definition lens and various other attributes to attract large number of people.
 Enhance market segment by expanding business and taking funds from bank and other
sources of funding.
 Complete government contract to establish adequate position and image in market.
 Increase profit from 15% to 60% in next three years period.
Products and services: Camcolr provides different variety of cameras such as Gopro,
power-shot, DSLR and many other features products. This help entrepreneur to attract large
number of people which buy product in according to their requirements and choices. Thus,
company satisfies consumers and construct buyers loyal towards firm (Barbour and Deakin,
2012).
Internal analysis: This is appropriate tactic used by entrepreneur to have complete
information about capabilities of system. It is essential that funds are utilised efficiently, as small
firms have limited amount of funds and require to conduct operations effectively. SWOT
analysis is adequate technique used by manager of Camcolr. This help head personnel to
acknowledge working of rival firms in digital technology sector. Thus, market conditions and
system functionality are assess which is defined below:
Strengths Weaknesses
 Camcolr is small scale firm which
provides digital cameras to people.
 Entrepreneur uses advanced
technologies and deliver quality
cameras with adequate features that is
 Businessperson of Camcolr require to
design items and take care that it is not
imitated and replicated by other firms.
 Limited amount of funds which defines
that manager require to utilise resources
8

high performance lens, Gopro facility.
 This benefits firm to construct
appropriate position in market and
generate good amount of profit from
business.
and direct manpower to perform tasks
properly (Chapin, 2012).
Opportunities Threats
 Camcolr has opportunity to enter into
other market segments to increase
number of products and customer base.
 It is digital technology firm which
require to make changes in system and
use advanced technologies to deliver
innovative and creative cameras in
market (Eddleston and et. al., 2013).
 Entrepreneur of Camcolr even can
enlarge business and market reach.
 Canon, Nikon, Sony, Samsung are
various popular brands which provide
quality and different range of cameras.
 These are various firms which have
good reputation and image in market.
 Thus, Camcolr require to deliver
camera with appropriate features and
attributes to attract large number of
people and enhance sales.
Financial information: Cash flow statement is formulated by management of Camcolr
which having knowledge about flow of money in operational, investing and financing activities.
Particulars Jan Feb Mar Apr June Total
Cash
Inflow
Investment 6000 6000
Credit Sales 2000 2200 3500 3000 2000 12700
Total
Inflow 8000 2200 3500 3000 2000 18700
Cash
outflow
Fixed:
Hardware 3500 2000 2500 1500 2800 12300
9

Variable:
Direct
Material 450 150 350 250 180 1380
Total
Outflow 3950 2150 2850 1750 2980 13680
Net cash
flow 4050 50 650 1250 -980 5020
Opening
balance 0 4050 4100 4750 6000 5020
Closing
balance 4050 4100 4750 6000 5020 10040
TASK 4
P5 Assess exit or succession options for small business
Small and medium-sized firms have limited amount of funds which require to be used
efficiently by head personnel. It is essential that entrepreneur have accurate information about
different methods of enlarging business and closure techniques to sustain its position and image
in marketplace. Camcolr is digital sector firm which require that businessperson has adequate
capital to implement appropriate technologies in system. This helps manager deliver different
range of cameras with quality features such as Gopro facility to attract large number of people.
This help businessperson to make enlarge business and generate good amount of profit from
firm. Thus, these are different exit or succession options which are stated beneath (Valler, Phelps
and Wood, 2012):
Acquisition: This is another method which is effective for small firms to enhance their
reputation in market by acquiring established and firm with good position and reputation in
marketplace. It helps entrepreneur to increase brand value and attract large number of people,
thereby enhance sales volume and profitability.
10

 Advantage: Business which has high strategic value and funds is able to acquire other
firms easily. Bidding is appropriate method used by entrepreneur to purchase another
company at appropriate rates. Disadvantage: It has demerit as acquired firm market reputation determine purchase
company goodwill in market.
Liquidation: This is legal activity which define that small and medium firms have limited
funds which require to be utilised efficiently. Liquidation is best technique which helps manager
to merge with other firms and construct distinct image in market. This tactic specifies end of
particular companies and set up of new enterprise which conduct operations effectively and
construct appropriate position and image in marketplace (Ziari and et. al., 2012). Advantage: This is adequate technique of succession or exit which define that a new firm
comes into existence which require to function in according to entrepreneur knowledge
and market value of firm.
 Disadvantage: Businessperson has several tactics such as goodwill which are not
measurable and affect on computation of cash properly.
Therefore, management of Camcolr uses acquisition strategy through which brand value
and reputation of firm are enhanced. With purchase of leading and popular company helps
seniors to attract large number of buyers to purchase item.
CONCLUSION
As per above report, it can be comprehended that entrepreneur construct plan and frame
strategies to conduct operations effectively and accomplish objectives timely. It is essential that
small and medium scale firms have adequate resources that are used efficiently so that
organisation make success and growth with time. Manager responsibility is to analyse key
considerations for examining growth opportunities by using Ansoff matrix and competitive
analysis. Businessperson assess different sources of funds to choose best techniques and design
appropriate business plan to direct members and conduct activities properly. Along this, exit or
succession options for small business are assess by manager to have complete knowledge about
enhancement techniques.
11

REFERENCES
Books and Journals
Barbour, E. and Deakin, E. A., 2012. Smart growth planning for climate protection: Evaluating
California's Senate Bill 375. Journal of the American Planning Association. 78(1).
pp.70-86.
Chapin, T. S., 2012. Introduction: from growth controls, to comprehensive planning, to smart
growth: planning's emerging fourth wave. Journal of the American Planning
Association. 78(1). pp.5-15.
Eddleston, K. A. and et. al., 2013. Planning for growth: Life stage differences in family firms.
Entrepreneurship Theory and Practice. 37(5). pp.1177-1202.
Grover, B. E., Bokalo, M. and Greenway, K. J., 2014. White spruce understory protection: From
planning to growth and yield. The Forestry Chronicle. 90(1). pp.35-43.
Keough, S. B., 2015. Planning for growth in a natural resource boomtown: Challenges for urban
planners in Fort McMurray, Alberta. Urban Geography. 36(8). pp.1169-1196.
Li, Z., Mobin, M. and Keyser, T., 2016. Multi-objective and multi-stage reliability growth
planning in early product-development stage. IEEE Transactions on Reliability. 65(2).
pp.769-781.
MacLeod, G., 2013. New urbanism/smart growth in the Scottish Highlands: Mobile policies and
post-politics in local development planning. Urban Studies. 50(11). pp.2196-2221.
Mitchelmore, S. and Rowley, J., 2013. Growth and planning strategies within women-led SMEs.
Management Decision. 51(1). pp.83-96.
Moseley, M. J., 2013. Growth Centres in Spatial Planning: Pergamon Urban and Regional
Planning. Elsevier.
Galland, D., 2012. Is regional planning dead or just coping? The transformation of a state
sociospatial project into growth-oriented strategies. Environment and Planning C:
Government and Policy. 30(3). pp.536-552.
Beatley, T., 2014. Habitat conservation planning: endangered species and urban growth.
University of Texas Press.
Valler, D., Phelps, N. and Wood, A., 2012. Planning for growth? The implications of localism
for ‘Science Vale’, Oxfordshire, UK. Town Planning Review. 83(4). pp.457-488.
Ziari, I. And et. al., 2012. Integrated distribution systems planning to improve reliability under
load growth. IEEE transactions on Power Delivery. 27(2). pp.757-765.
Eyvindson, K. and Kangas, A., 2015. Evaluating the required scenario set size for stochastic
programming in forest management planning: incorporating inventory and growth
model uncertainty. Canadian Journal of Forest Research. 46(3). pp.340-347.
Wiechmann, T. and Bontje, M., 2015. Responding to tough times: Policy and planning strategies
in shrinking cities.
Online:
Porter’s Five Forces of Competitive Position Analysis. 2018. [Online]. Available through:
<https://www.cgma.org/resources/tools/essential-tools/porters-five-forces.html >.
12