P1 Key considerations for evaluating the opportunity of growth

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PLANNING
FOR
GROWTH
Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key considerations for evaluating the opportunity of growth...............................................1
P2 Evaluate growth opportunity by applying Ansoff's growth vector matrix............................2
TASK 2............................................................................................................................................4
P3 Sources of funding available for business.............................................................................4
TASK 3............................................................................................................................................6
P4 Design a business plan...........................................................................................................6
TASK 4............................................................................................................................................7
P5 Exit or succession plan for small enterprise..........................................................................7
CONCLUSION...............................................................................................................................9
REFERENCES..............................................................................................................................10
INTRODUCTION
Planningperform very importantrole in the growth and success of enterprise activities. It
aid in determining of factors and making policies according to market situation. Use of policies
made by companies contribute in accomplish of work and its objectives (Planning for growth,
2017). Adopting of digital technology, it gave huge impact on operating of enterprise as well as
innovation ideas within the workers. Fizzy fast food restaurant which gives their services in
United Kingdom. Major purpose of this organisation is to make a plan and apply of digital
technology for the growth of enterprise operations.In present report,it covers the companies
growth opportunity because of applying digital technology. Various sources of funds will be
analysed which firm can use for starting their business along with that this also state its
advantages and disadvantages. Along with, the report will prepare a business plan of the
organisation.
TASK 1
P1 Key considerations for evaluating the opportunity of growth
Fizzy fast food restaurant is an organisation which gives several products and services
within the market of United Kingdom. It will aid in achieving the competitive benefits and
capturing the marketplace. Organisation will assist in attracting lots of buyers towards their fast
food which will enhance the profits and sales. It will provide the chances of growth of enterprise
operations in many others locations. Applying of digital technology will gave a higher level of
contribution in growth of small enterprises. It gives chances of developing a new fast food dishes
according to buyers taste by adopting new strategies of marketing. Their are some of major
opportunities of growth which are available for Fizzy fast food restaurant because of applying
digital technology are as follows:Competitive advantage:Companies management are making plans for applying digital
technology at a time of performing business activities. Each department are getting
advantage because of using latest technology at their workplace (Barbour and Deakin,
2012). Manufacturing department is having an opportunity to improve the fast food
quality as well as use innovative ideas for making the dishes according to buyers taste.
Department of marketing can use the latest marketing tools such as internet and social
media which will cover the large areas of marketplace. Similarly, other divisions such as
1
HR, operational and workers also get the advantages of using latest technology. It will aid
in giving their best productivity or performance as compared to their rivals and help in
achieving the competitive benefits.New products and services:Applying of digital technology will aid in improving
communication within workers as well as make a strong relation with their buyers. It will
aid in understanding the latest trends of fast food within marketplace and customers taste
of nation regarding selection of fast food dishes. It aid in knowing the demand as well as
developing of new fast food dishes according to customers taste. Creating an innovation
within workers aid in developing innovative ideas and skills which identify new methods
of delivering goods and services (Ziari and et. al., 2012).
Collaboration:Their are having a large numbers of opportunity of growth which are
available in the form of strategic alliance, acquisition, joint venture, merger etc.This can
assist in operating business activities significantly with another organisation portraying
better recognition and goodwill of company in marketplace. This enable the access of
latest technologies to Fizzy Fast Food that help in carry out efficient production method
in theirfood products
PESTEL analysis
It is a tool that is used by the company to analyse the external environment affect on the
company. There are some factor of this analysis, they are as following:
Political-it is related to the political factors such as government policy, political stability, foreign
trade policy, tax policy and labour law etc. that affect the business of Fizzy fast food positively
or negatively. For example, the organisation launch any new product and the government make
changes in its policy that affect the business of the company.
Economical-These factors a have significant impact on the business and the profit or economic
condition of the company. They include economic growth, interest rates, exchange rates,
inflation and others. For example, if the company bought raw material and ingredients from other
country to make products and change in the exchange rate or inflation condition of the
purchasing country. This affect the business of Fizzy fast food.
Social- This factor is basically related to the customers and consumers. If the company produce
according to the customers, they impacted the business of the company positively. These factors
include, age, health consciousness, and others. Fior example, if the company manufacture good
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