Planning For Growth - Sample Assignment
Added on 2020-12-09
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Planning For Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities.......................................................1P2 Apply Ansoff's growth vector matrix for opportunities evaluation.......................................3TASK 2............................................................................................................................................5P3 Assess potential sources of funding available to business.....................................................5TASK 3............................................................................................................................................6P4 Design business plan for growth and scaling up a business..................................................6TASK 4............................................................................................................................................8P5 Assess exit or succession options for small business.............................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTIONPlanning for growth is essential aspect for small and medium-sized firms to develop andexpand to enhance position and reputation in market. For this, entrepreneur require to useresources efficiently and formulate appropriate strategies to execute operations effectively.Market research is appropriate activity conducted by individual to have accurate and completeinformation about various ideas and utilising business opportunities. Small firms primary goal isto 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 personnelto build things different from rival firms. Present report is based on Camcolr which is small scaleenterprise established in UK. This company provides digital camera and is aiming to growmarket share. . This assignment specifies key consideration and Ansoffs-matrix used byentrepreneur to examine growth opportunities. Apart from this, different funding sourcesanalyses and business plan constructed by superior to accomplish objectives timely. TASK 1P1 Key considerations for evaluating growth opportunitiesBusiness growth is essential component for each organisation to sustain its position inmarketplace and expand with time. For this, management require support and joint efforts ofsubordinates to conduct operations effectively. They even need to provide duties and tasks tomembers in respect to their abilities and skills, so that processes are executed in proficientmanner. In Camcolor, business growth is aspect which is consider by entrepreneur to enhanceworking level and make adequate plan to attain targets within defined deadline. Competitiveanalysis and porters five forces model are various tactics used by manager of small business togather additional information of the market. New concept and tactics are used by manager toutilise resources and construct appropriate reputation and goodwill in market. Thus, these areconsiderations used by firm to measure and accomplish high growth are stated beneath (Ziari andet. al., 2012):Incorporation of digitalisation in business: This aspect define that digital tools andtechnologies are implemented in system to enhance number of operations and complete activitieswithin defined time. Small scale firm require proper utilisation of material and manpower, so thatfunds are utilised efficiently. As, digital platform and techniques are expensive, so they are less1
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