Planning for Growth Assignment : Small Street Espresso
Added on 2021-02-20
14 Pages4263 Words41 Views
|
|
|
PLANNING FORGROWTH
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1: Analyse consideration to evaluate the growth opportunity..................................................3P2: Evaluate opportunities for the growth of an organisation.....................................................5TASK 2............................................................................................................................................6P3: Potential sources of funding available to business and elaborate the business and benefitsdrawbacks....................................................................................................................................6TASK 3............................................................................................................................................8P4: Frame a business plan for growth which contains financial information and strategicobjective......................................................................................................................................8P5: Exit or succession options for a small business explaining the benefits and drawbacks......9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONGrowth planning refers to the strategic business activity that help the business to track thegrowth in terms of revenue generation. It allows the organisation to make optimum utilisation ofresources and bring the significant changes that takes industry towards the right direction(Christofakis and Papadaskalopoulos, 2011). If an organisation wants to diversify its businessthen they have to incur long term planning in order to attain the objective successfully in anefficient manner. For the better understanding of report Small Street Espresso company has beenselected which is situated in UK and established in 2012. It basically offer various variants incoffee, cakes and sandwich to the customer. This report cover following topics such as keyconsideration to evaluate business growth opportunity as well as various methods of funding.Further, develop business plan to scale up business and access ways business owner can exit thesmall business. TASK 1P1: Analyse consideration to evaluate the growth opportunityBusiness development refer to the initiative and activity that help the business to makeeffective business decision and expand its profitability successfully. The company performingthe planning as well as manages the business with the help of functional manager that takes thebusiness towards right direction. In relation to Small Street Espresso company offer varioustypes of food and beverages, also they provide efficient customer service to build long termrelationship with the customer. Competitive advantage:Small Street Espresso basically provide the services to theresidence of UK who usually visit the cafe with their friends and partner to get the quality timeand experience rich products of company. The company usually adopt the competitive strategylike it provide premium level of services and at affordable prices which even youths can leveragewho are the main target customer of company. Further, firm on the basis of changing trend bringthe changes in their business too in order to gain competitive advantage (Brinckmann, Grichnikand Kapsa, 2010). This even help company to expand as well as prosper in an effective andeffective manner.
Porter Generic ModelThis model help the industry to gain long term profitability in order to achievesustainable development by gaining competitive advantage over the competitors. Company cangain the competitive advantage from cost differentiation or by setting low price to attain thedesired position of company. These factor or Porter Generic model which is used by Small StreetEspresso is defined below: Cost Leadership Strategy: Here the firm overpower their competitor by setting low priceof the product which is generally low from the competitors pricing. This is an effective strategythat assist the firm to gain the benefit of huge customer base which helps to expand the marketshare of company effectively. Differentiation Strategy: Under differentiation firm adopt unique strategy that isdifferent from its rivalries and gain the interest of consumer (Sreedhar and et. al., 2018). Thus,the unique attribute of product create the position in the mind of customer and help to gaincompetitive edge over others. Differentiation focus Strategy: Under this, Small Street Espresso cater the specificmarket, like it serve the niche market by understanding the existing need and requirement ofcustomer. This help the firm to add more attribute and bring alterations in the existing product tofulfil the needs of customer. For instance, company provide the high quality services, niceambiance, proper sitting area as well as reading corner so that the local residence can come andperform the activities on the basis of their likings. Cost Focus: Cost Focus strategy is basically used by company to understand the dynamicenvironment and develop low cost strategy for niche market. Here, firm make sure they lowerdown their expenses and manage the operations of business effectively so that company cancompel the customer to select them amongst competitors.PESTEL AnalysisIt is a macro environmental factors that affect the performance of business and help themto grow effectively as well as efficiently.Political: It include regulation, taxation policy as well as trade relation among the variouscountry that can help the business to operate effectively. These factor need to be considered bySmall street espresso for the effective growth and development of business. Thus, the company
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Planning for Growth Solved Assignmentlg...
|15
|4428
|103
Planning for Growth - Aroma Cafe coffee shoplg...
|15
|4843
|42
Planning for Growth in Small Businesses: Evaluation of Key Considerations, Ansoff Growth Matrix, Funding Sources, Business Plan Design, and Exit Optionslg...
|16
|5487
|213
Planning for growthlg...
|14
|5182
|425
Planning for Growthlg...
|14
|5164
|337
Planning for Growth Solution Assignmentlg...
|11
|3465
|27