Planning for Growth Assignment - EduCom ++ organisation
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Added on 2020-10-22
Planning for Growth Assignment - EduCom ++ organisation
Added on 2020-10-22
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth opportunities.......................................................1P2 Growth opportunities applying Ansoff matrix.......................................................................4TASK 2............................................................................................................................................5P3 Potential sources of funding with their drawbacks and benefits............................................5TASK 3............................................................................................................................................7P4 Design a business plan EduCom ++......................................................................................7TASK 4............................................................................................................................................8P5 Assess exit or succession options for small businesses.........................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONPlanning is a key of any business throughout its existence. Every successful organisationis focused on regularly reviewing its business plan thus to ensure its future growth. In order togain future market development, small business are required to review their current performanceand then plan strategies and policies accordingly. In addition to this, planning for growth willprovide a basic structure to accomplish balance between working activities and tasks (Barbourand Deakin, 2012). EduCom ++ is the chosen organisation in this coursework which providestraining and learning programmes to local people and employees of third party associations thusto improvise their skills in specific area of concern. Apart from this, the assignment is preparedwith a provision for identifying growth opportunities in organisational context. The significanceof Ansoff Matrix will also be defined as it should be considered while planning for growth. Thiswill also state various sources of finance thus to ensure availability of funds for completion ofbusiness operations. TASK 1P1 Key considerations for evaluating growth opportunitiesGrowth planning is strategic business activity which enable managers to plan and trackbusiness performance. It allows companies to allocate their resources towards changes inexternal environment by digital disruption and helps it to differentiate from competitors.Planning helps small size firms to attain large market share and increase its revenues in a certaintime period. In this scenario, EduCom ++ is a small business association which offers varioustraining and educational programmes by using digital technologies to community centres andinstitutions. Therefore, the business association use various e-learning tools and techniqueswhich makes easier the process of training and learning (Brinckmann, Grichnik and Kapsa,2010). In order to enhancing its profit margins and sales revenues, EduCom ++ is developed aneffective plan which provides guidance to all activities that are liable for assuring future growthand success of the company. Planning also helps staff members to accomplish all operations andpractices in the best possible manner; it also make them to able to face upcoming challenges orthreats at marketplace. Following is defined various key considerations which must ensure bybusiness organisations: - Competitive analysis – Obtaining high competitive edge is one of the most importantelement of planning strategy of the company. EduCom ++ is involved in providing educational1
training and learning programmes to people so that to become superior at marketplace the firm isrequired to assess its competitors. It contribute in formulation of effective strategies and policieswhich enables company to compete with its rivals. In present market scenario, several changesare being occurred which may hinder business operations and its activities. Hence, whileplanning management is required to determine its current and potential rivals (Burton, 2010).Competitors' analysis can be done through Porters' five forces model: - This assessment supports to analyse external rivals of the company while developingplans for competitive markets and trends. Porters' five forces model was introduced in 1979 withan aim to get better understanding of rivalry. There are five components of this model which aregradually stated as under: - (Source: Porter’s Five Forces of Competitive Position Analysis, 2018)Bargaining power of suppliers – Strong power of suppliers allows them to sell rawmaterials at higher prices with low quality which directly affect firm's profits as theyhave to pay more to buy inputs. Therefore, to handle this situation EduCom ++ find outsuitable supplier and manage good relationship with them. 2Illustration 1: Competitive analysis
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