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P1 Analysis of key consideration of growth opportunities

   

Added on  2021-02-19

17 Pages5316 Words44 Views
PlanningforGrowth
P1 Analysis of key consideration of growth opportunities_1
Table of ContentsINTRODUCTION...........................................................................................................................1P1 Analysis of key consideration of growth opportunities.........................................................1P2 Assessment of growth opportunities by utilization of Ansoff's growth vector matrix..........4P3. Assessment of potential sources of funds along with their benefits and drawbacks............6P4 Development of business plan...............................................................................................8P5. Exit or succession options for RGB Communication along with merits & demerits.........12Conclusion.....................................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONPlanning denotes the steps that are being undertaken by individual or an organisationthrough which they can attain their objectives and goals. This leads them to take their businesstowards growth as well as enhances revenue ratios. Through assistance of well framed andappropriate plans business organisation can assign constricted resources through which they canderive technological advancements along with competitive edge within the market (Barbour andDeakin, 2012). Basically, it refers to procedure for creating plans and strategies through whichhuge market shares can be acquired by organisation thereby leads enhanced market positioning.This report is based on RGB Communication that is a technical and audio visual distributor thatis responsible for representation of well-known manufacturers. They render room & lightningcontrols, displays, meeting room signage, connectivity, networks, audio and video conferencingalong with displays. They render their services in United Kingdom. This report comprises ofevaluation of growth opportunities along with this Ansoff's growth vector matrix is applied. Inaddition to this, sources of funds have been assessed and a business plan has been formulatedalong with exit and succession options. P1 Analysis of key consideration of growth opportunities.Growth is defined as insistent facet for each organisation as this renders support formaking sure sustainability within market for longer duration of time frame. In addition to this, itassist entity to enhance their market shares (Beatley, 2014). In context of RGB Communication,they furnish their services within audio & visual services and are inclined towards expansiontheir functioning and operations in diverse sections of globe with assistance of high qualityofferings. This will aid them to have maximised gratification from customers through providingthem network facilities at optimal qualities. As they have strong market presence as well asposition within UK, they have large chances for expanding themselves in different geographicallocations. For this, it is necessary that there is effectual planning as it will lead them to furnishservices with respect to future course of processes as well as activities that aids them to attaintheir objectives (Chapin, 2012). Competitive Advantages1
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It is defined as a situation in which firm is liable for production of identical services atminimal prices in an efficient as well as effective way. RGB Communication is responsible forformulation of strategies through which they can ensure competitive position within the market. Resources: The experienced and highly skilled employees are major assets oforganisation who are liable for furnishing services. Capabilities: They possess the ability to deliver innovative as well as unique services ataffordable and reasonable price through which they are able to have ample customers. Core competencies: High quality products are being offered by them that enable them todraw in customers and have competitive advantage.RGB Communication has the capability for expansion within their market shares andsales by furnishing timely services to their customers. In addition to this, organisation can havecompetitive edge within market as they facilitates their consumers by providing diverse optionslike security cameras, docking stations, image processing, media servers, networking powermanagement, smart automation and various others (Denton, Forsyth and MacLennan, 2017).The resources that are being taken into consideration by RGB Communication in theirorganisational working space includes human resources (employees), online medium, technologyas well as financial resources for carrying out their operational expansion and activities. In thiscontext, there exist wide range of circumstances which assist them within attainment of growthas well as success within feasible way. They have been explicated below with the assistance ofPorter' s Generic Strategies and PESTLE analysis. They are explicated below: Porter's Generic StrategyIt is a framework that comprises of different strategies that are being utilised by firm forattaining rapid growth along with competitive place within market over their rivals. Thesestrategies aids organisation to have broad knowledge of position of business with respect towhether they can have adequate profit or not. This framework consists of four strategies that willassist and support organisation to raise their performance thereby leads to development ofapplicable brand image within market. It will alleviate the organisation to expand them indifferent geographical locations as well as carry out analysis with respect to performance andgrowth of organisation. Porter's has given four strategies; they have been laid down:2
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