Planning For Growth Assignment : Langland Advertising & Design

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Planning For Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1) Key Considerations for the Evaluation of Growth Opportunities........................................1P2) Application of Ansoff Matrix...............................................................................................5TASK 2............................................................................................................................................7P3) Potential Source of Funding for Businesses.........................................................................7TASK 3............................................................................................................................................8P4) Business Plan for Success.....................................................................................................8TASK 4..........................................................................................................................................10P5) Critical Evaluation of Succession and Exit Situations for Langland Advertising & Design...................................................................................................................................................10CONCLUSION.............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONPlanning for Growth is explained as the strategic business activity that helps theentrepreneurs in making an increment in their revenues and incomes by tracking and planning forthem. The company chosen for the completion of this assignment is Langland Advertising &Design which is situated in Windsor and is providing advertising services to their customers.Currently, the employees working in this organisation are approx 66. The following assignmentwill start with making its focus on the key consideration for growth opportunities for theorganisation and will also provide justification in the context of chosen organisation. In additionto this, it will also make its focus on the identification of possible growth opportunities for theorganisation with the help of applying Ansoff Matrix in the organisational context(Albert,2017). The focus will also be made on the identification of potential sources with the help ofwhich an organisation it will be possible for the business to make sure about its growth alongwith their benefits and drawbacks. Further, the business plan will also be developed wit thestrategic objectives and scaling up the business. Lastly, the discussion will be made about theexit and succession situations for small business explaining the benefits and drawbacks for theoptions provided below.TASK 1P1) Key Considerations for the Evaluation of Growth OpportunitiesPlanning can be defined as the function with the help of which an organisation draws ablueprint of their future activities which are they will perform. It is not related to a single conceptin the organisation but there are many other concepts for which planning can be carried out. Inthe case of the following organisation, Langland Advertising & Design which provides theircustomers with advertising facility do also have some growth opportunities that could help theorganisation in making an increment in their revenues and incomes. The discussion of theevaluation of the available growth opportunities has been provided as under:Competitors Analysis:The explanation of the following analysis has been provided in the sense of making anassessment of current strengths and weaknesses of the other businesses such as competitors ofthe organisation. So it is better for make plans for future and make suitable strategies for thegrowth and betterment of the organisation with the help of analysing the current market1
situations(Angotti, 2018). The company could also have benefit out of this as with the help ofgood strategies as compared to the competitors, it will be possible for the company to achievecompetitive advantage over the competitors and for this purpose it is important for theorganisation to make their consideration about their resources, capabilities, competencies so thatthey could be made unique enough to gain competitive advantage over the competitors andensure their long term survival and growth in the marketplace. The discussion of the following isprovided as under:Resources:In the first point, the main resources needed in the following business for its growthis the skilled employees which is personnel and the financial resources as in the service sector,financial resources are needed more and these will surely help in the growth and development oforganisation. The personnel in an organisation will also help in its development as the skilledemployees will provide the organisation with new and innovative ides which will prove to bebeneficial for the growth and development of the organisation.Capabilities:Langland Advertising & Design Organisation is providing their customers withpersonalised advertising such as by making the advertisements in accordance with the needs anddemands of their customers. In addition to this, it also provides their customers with somesuggestions in order to make the look of the advertisement more attractive.Core Competences:The customised service provided by the organisation are not much high intheir prices that are not affordable for their customers(Beatley, 2014). In other words, theoffering provided to the customers by the organisation are economical and affordable accordingto the prices charged by the organisation. As the other companies are also not providing thesekinds of personalised services to their customers which is positive point for LanglandAdvertising & Design Company that could help in fostering the rate of growth and developmentof the organisation.PORTER GENERIC MODELMichael porter who was a well renowned economic researcher explained the genericstrategies that are useful to examine the competitive behaviour. 4 main strategies are provide tomaintain advantages and better position in market over competitors. Langland advertising anddesign is a healthcare advertising agency in United Kingdom. Porter's generic strategies can beused by this company to decide the direction(strategy) of their organisation. This tool provides 42
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