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Planning for Growth Assignment Solved - Doc

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Added on  2021-02-20

Planning for Growth Assignment Solved - Doc

   Added on 2021-02-20

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PLANNING FOR GROWTH
Planning for Growth Assignment Solved - Doc_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Define key considerations to evaluate growth opportunities and justify them in contextwith organisation.........................................................................................................................3P2 Analyse growth opportunities by applying Ansoff's growth matrix......................................5TASK 2............................................................................................................................................7P3 Mention potential sources to collect fund available for business along with theiradvantages and disadvantage......................................................................................................7TASK 3............................................................................................................................................8P4 Formulate a business plan for growth which include strategic objectives and financialinformation for scaling up business............................................................................................8TASK 4..........................................................................................................................................11P5 Access succession or exit options for small business while mentioning their drawback andbenefits......................................................................................................................................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
Planning for Growth Assignment Solved - Doc_2
INTRODUCTIONPlanning for growth is a strategic activity that enables an individual in planning, trackingand monitoring organic growth of their business. It benefits the businesses in allocating theirexisting resources in an optimal manner so that competitive advantage against rivals can beattained in a proper manner (Blackburn, Hart and Wainwright, 2013). This assignment is basedon Lyle's which is a UK based small restaurant offering food and beverages to its customers.Restaurant is headquartered in London and established two years back. Owner of restaurant isplanning to grow their business by offering flavoured Lassi to their customers. This report willcover about key consideration that will helps in evaluating growth opportunities. Beside this,Ansoff's matrix is applied along with mention of various sources to collect funds. Also, abusiness plan is formulated so that objectives and high growth in business can be achievedwithout facing much complexity. At last, different options for succession and exiting businessalong with their merits and demerits are discussed. TASK 1P1 Define key considerations to evaluate growth opportunities and justify them in context withorganisationLyle's is a small sized restaurant in UK which provides wide range of beverages and foodto their clients. Company is planning to expand their business by introducing flavour Lassi totheir menu. As people in UK are fitness freak and they do not prefer to have drinks with highcalories, restaurant offers healthy food and drinks which is beneficial for health. Also, companyis going to introduce flavoured Lyle's, as it will be offered in different flavours like Mango,strawberry and chocolate, there are high chances people in UK will like their product (Lewis,2013). Key considerations for evaluating the growth opportunity for Lyle's in achieving highrevenues is mentioned below: Porter's Generic Strategies These strategies define the ways by which an organisation can attain competitiveadvantage over rivals within marketplace. According to porter, there are four type of growthstrategies which can be used by an organisation for achieving desired outcomes and growth. Incontext with Lyle's, these strategies are mentioned below:
Planning for Growth Assignment Solved - Doc_3
Cost leadership:According to this strategy, an organisation is needed to offer highquality products to its customers in low prices. This will force customers to buy more andcompany will be able to achieve high sales. This will benefit Lyle's in gettingcompetitive edge within industry. For example, by lowering the price of their dishes anddrinks, Lyle's can enhance their sales due to which their market shares will increase in aconsiderable manner (Mahmoudi and et. al., 2013).Differentiation: It is another strategy which can helps an organisation in achievingdesired growth. In this growth strategy, company offers unique products or services totheir customers which are not offered by rivals and competitors. Due to innovativeness,customers prefers to buy them in large quantity. This will results in increased sales andrevenues for Lyle's. Cost focus: In this growth strategy, an organisation focuses on current market conditionsand provides their services or products at lowest possible cost. This helps the firm ingaining advantage over companies operating in same field due to increased revenues andsales. Lyle's can use this strategy to expand their customer base and sales by offeringmeals and drinks in genuine price. Differentiation focus: Under this strategy, a firm tries to offer those products which donot currently exist in market (Vargo and Seville, 2011). It benefits a company in gainingmore revenues and profits than rivals due to which business is able to achieve widegrowth. In context with Lyle's, business owner of company can adopt differentiation strategy inwhich restaurant will offer new dishes and drinks to their customers. Due to this, customers willprefer to visit their more and business will achieve wide growth and success as per theirexpectations. PESTLE analysisIt is a strategic framework which benefits a firm in acknowledging external businessenvironment in detail so that only advantageous decisions can be taken. Different aspects whichcan be acknowledged by this framework are political, technological, social, economical, legaland environmental. In relation with Lyle's, these factors are stated below: Political factor: This factor is related with the stability of government and theirinterference in the working of an organisation. Due to Brexit, UK faces some instability
Planning for Growth Assignment Solved - Doc_4

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