Business Planning for Growth Essay
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Added on 2020-06-03
Business Planning for Growth Essay
Added on 2020-06-03
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Planning for growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key consideration which support in growth opportunities for an organisation.....................1P2 Evaluation of opportunities of growth by using Ansoff matrix vector..................................2M1 Discuss the options for growth using a range of analytical framework for gainingcompetitive advantage.................................................................................................................4D1 Critically evaluate various pathways for growth by taking each and every risk factor inaccount........................................................................................................................................5TASK 2............................................................................................................................................5P3 Potential sources of funding with gains and drawbacks of each option................................5M2 Evaluate potential sources of funding with suitable justification of adaption of one...........6D2 Critically evaluate potential sources of funding with justified argument of adaptation ofeach.............................................................................................................................................7TASK 3............................................................................................................................................7P4 Business plan which includes financial information and strategic objectives.......................7M3 Develop an appropriate business plan for growth and securing investment........................8D3 Applicability of business plan in order to accomplish business objectives properly............9TASK 4............................................................................................................................................9P5 Assess exit or succession options for small business by explaining advantages andlimitations....................................................................................................................................9M4 Evaluate exit or succession option for a small business by comparing and contrasting withrecommendation........................................................................................................................10D4 Critical evaluation of exit or succession option for a small business..................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONGrowth planning is consider as strategic business activity which support business to trackgrowth in appropriate frame as well as frame plan in a suitable manner so that better resultscould be accomplish (Barbour and Deakin, 2012). It is important to frame appropriate andsuitable plan concern with development of an association so that better and appropriate workingget promoted. Before any growth concern operation, management need to keep in mind about allassociated factors. This project is based on planning for growth by taking Brooklands Hotel inconsideration so that better and effective operations could be promoted. Hotel become able tomanage growth and development by applying digital technology into business and concernoperation with innovation in room booking facility as well. With these factors, analysis of keyconsideration is essential which can use by small business enterprise in order to maintain growthand accomplish all related opportunities as well. For every development, there are several fundraising tools get evaluated which need to adopt by an association for implementing operations.Moreover, a business plan consider as best factor in order to scaling up operations of anassociation. TASK 1P1 Key consideration which support in growth opportunities for an organisationWhenever any small business start operating at large level, wide range of opportunitiesstart knocking the door for an organisation (Beatley, 2014). These are concern with growthchances which need to understand by business managers properly so that better and effectivegain could be promoted. One of a thing which associates and create foundation for growth iscompetitive advantage. It is essential for a business organisation to utilise all resources properlywith their best capabilities in order to make their products differ from others. This differentiationin their working support them to adapt competitive advantage so that growth related optionsbecome successful and appropriate in nature. Brooklands Hotel want to implement digital technology into business through which theybecome able to book rooms online as well as they need to determine some innovations as well.Thus, management need to utilise all resources properly and motivate staff personnels as well sothat they start performing task properly. For evaluating best options for growth, managers needto analyse external environment properly and then frame plan according to that. There are1
various tools and techniques get evaluated which need to adopt by managers of Brooklands forevaluating opportunities from external environment:Political: First factor signifies about government interference related with newmodification (Chen and et. al., 2014). Brooklands Hotel have to determine allgovernment interventions of business properly and then frame suitable modifications. Ifgovernment imposed less tax rates as well as charges are low in nature then any growthoption could be consider. Economical: Another growth opportunity for starting operation in another market iseconomical condition (Eddleston and et. al. , 2013). If on an average individualdisposable income level is high then business have an opportunity to generate morerevenue and enhance user base as well. Brooklands Hotel have to determine economicalaspect of another nation properly and then evaluate all pros and cons effectively. Social: Third factor for growth possibility is social environment in which business lead toget started. Brooklands hotel have to determine population of such new area effectivelywith nature of each and every individual taste and preference so that better criteria couldbe met. Technological: Last aspect is associated with technology which need to implement bybusiness managers in an appropriate frame. If association want to grab competitiveadvantage then they have to use new and innovative technology. Brooklands Hotel canimplement digital technology in business through which they start commencingoperations properly. These are some options for growth which need to understand by Brooklands Hotel properly andeffectively. Although, with these consideration, managers could become able to gain competitiveadvantage. Like if political intervention is positive in nature then chances of better operativeenvironment could be gain. Along with this, customers taste and preferences need to determineproperly as well with installation of new technology. All these factors will support in gaincompetitive advantage for better and effective concerning operations. P2 Evaluation of opportunities of growth by using Ansoff matrix vectorBusiness managers play a vital role in an association with concentration on developmentand growth. It is important to determine all growth related aspects properly of a businessenvironment so that chances of effective and suitable gain get enhance. Thus, for this context,2
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