Planning for Growth Assignment Solution
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Added on 2020-10-05
Planning for Growth Assignment Solution
Added on 2020-10-05
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PLANNING FOR GROWTH
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1. Evaluating growth opportunities for small companies.........................................................1P2. Measure the possibility for growth by applying Ansoff's growth vector matrix..................4LO 2.................................................................................................................................................5P3. Evaluating the various source of funding in business...........................................................5LO 3.................................................................................................................................................7P4 Developing Business Plan for Company..............................................................................7P5. Succession options for a small business its drawbacks and advantages...............................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONTo achieve their desired objectives and goals, it is necessary to have effective planningprocess in organization which can help them in their achievement. It should be done verycarefully by the organization to get better results as their final outcome. It relates themaintenance and creation of a strategical plan which definite conceptual skills of their workersworking there (Goulden, Ryley and Dingwall, 2014). Present report will talk about Southernbusiness technologies Ltd which is a company that is operating its business in atelecommunication industry. It will explain about the growth opportunities that is available tothem in industry and its potential funding sources. Apart from this, it will also discuss aboutdeveloping business for organization and explaining succession or exit plans for smallbusinesses.LO1P1. Evaluating growth opportunities for small companiesSouthern business technologies deal with customers by providing communicationservices to the society. This telecommunication industry needs to provide its better quality ofservices to customers. By considering business scope areas, that where an industry can expandits features, one can plan its growth and development opportunities in marketplace. This firmneeds to identify their resources, competition and comparing their common features with market.These key features helps to improve the potential of small business to grow more in world. Thistelecommunication company determined by its position in market and availability of its financialresources (Koryak and et.al., 2015). Capital expenses is one of the greatest source tool to expandits activities in wider area. As the entrepreneur, one needs to be always familiar with itsstrengths and weakness of its business entity. Diversification of small companies in differentareas needs to enhance its services with the louder development opportunities inTelecommunication sector. Factors which leads to the growth of small medium enterprise are asfollows:Identifying financial resources: Small enterprises needs to consider their initialeconomical investments of industry. This is one of the major source of expansion of industriesup to the desired level in market. Managers of southern telecommunication industry needs tocheck their monetary source of income. They need to consult to the financial adviser of the1
company to provide correct income statement ratios in terms of their assets, balance sheets andcash flow structure (Djalali and et.al., 2014). This could be achieved by applying strategies ontheir business planning. Improving source of financial resources in business entity, result instable economic position of company. Core competency of business: Southern telecom industry needs to find out its strengthand core competency to improve their scope of development in the marketplace. By realizingabout their powerful areas and making these features more centered, leads to achievement ofgrowth in near future. Development of their resources in right direction aid Small sizeenterprises to achieve its main objective (Chouhan and Srivastava, 2014). This helps to keeptheir position in market for a longer run. This industry is plays an important role in providingbandwidth services to customers. By improving access to data plans, company can increase itsstrengths by offering the best quality of communication services to market.Porters generic strategy: This planning leads to expansion of services in terms of certainfactors. This industry needs to focus on such factor which are provided by Omantelecommunication market. So here, this small company needs to find some important strategicelements like cost, quality and customer experience. Porter’s strategy needs to be focused by themanagement of small telecommunication industry. Here managers need to consider some keyareas of lowering the costs and providing the best plans. This automatically improves quality ofproduct and leads to customer satisfaction. Quality refers to phone services provided toconsumers. Customer experience comprised of three major points; manager needs to be activecomplaint listener, provide quality to customer and maintain high brand image.Determining competitive companies: Determining their competitive business is basicallya very strong strategy of providing the customers with different communication plans. As thesecompanies provides those services which are almost similar in every aspect. But maintainingtheir customers for longer time duration needs to provide their consumer with innovative ideasso that they stay dedicated in using their brand. Competition in telecommunication market isvery strong as they do not leave their clients anyway (Xi and et.al., 2015). Southerntelecommunication industry needs to implement new ways to hold their customers by providing2
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