Planning for Growth: Evaluating Opportunities and Strategies for Expansion
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This report discusses the key considerations for evaluating growth opportunities and evaluates the opportunities for growth for Guildford Tyre Company using Ansoff's growth matrix. It explores strategies for market penetration, market development, product development, and diversification. The report also includes a discussion on potential sources of funding, a business plan for growth, and exit/succession options for small businesses.
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Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK1.............................................................................................................................................3
P1) Considerations to evaluate growth opportunities.............................................................3
P2) Evaluate the opportunities of growth for entity by applying Ansoff growth matrix.......6
TASK2.............................................................................................................................................9
P3) Discuss potential sources of funding for business with their benefits and drawbacks....9
TASK3...........................................................................................................................................12
P4) Project a business plan for the growth that comprises financial information and strategic
objective for scaling up a business.......................................................................................12
TASK4...........................................................................................................................................15
P5) Examine exit/ succession options in context of small business for explaining the benefits
and drawbacks for each options...........................................................................................15
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK1.............................................................................................................................................3
P1) Considerations to evaluate growth opportunities.............................................................3
P2) Evaluate the opportunities of growth for entity by applying Ansoff growth matrix.......6
TASK2.............................................................................................................................................9
P3) Discuss potential sources of funding for business with their benefits and drawbacks....9
TASK3...........................................................................................................................................12
P4) Project a business plan for the growth that comprises financial information and strategic
objective for scaling up a business.......................................................................................12
TASK4...........................................................................................................................................15
P5) Examine exit/ succession options in context of small business for explaining the benefits
and drawbacks for each options...........................................................................................15
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18
INTRODUCTION
Morden era of business environment is completely filled with various number of
opportunities for both large and small companies which are dealing in certain areas across United
Kingdom. But is has been notices that only those firms can get these opportunities which are
making strategies and planning for hitting the targets in small period of time. In which the
planning term reflects as a strategic business activity that is permitted and developed to plan and
track the growth and development of the business owner along with its revenue. It enables
business firm to allocate their resources in effective manner for adopting changes, for this the
improvement and development of strategies and plan. So that risk elements will be determined
easily which may arises due to changes in business environments (Rienzo and Chen, 2018). The
following report is based on Guildford Tyre Company. Which was founded in 1976. In this
report discussion about key consideration of small business is explained as how it puts impact on
growth and development of business unit. As well as evaluation of opportunities for growth with
the help of Ansoff’s matrix is included. Analysis of funding resources is also discussed.
Furthermore, business plan is devised with strategic objective and financial information with aim
of enhancement of business. At the end, exit or succession options are explained in context of
small business.
MAIN BODY
TASK1
P1) Considerations to evaluate growth opportunities
Growth opportunities refer as the options to expand business operations at wide level. It
can be done through launching new product or services and explore in a different market
segment (Girling, Senbel and Kellett, 2016). In context of business, there are ample of
opportunities for growth and success are available. For this, business owners can do networking,
undertake new and unique practices, upgrade their knowledgeable in order to carried out new
opportunities to enlarge business operations. There is huge investment required for growth and it
significantly affects existing brand value of company. In context of Guildford tyres, it is crucial
to consider following factors while exploring business functions:
Morden era of business environment is completely filled with various number of
opportunities for both large and small companies which are dealing in certain areas across United
Kingdom. But is has been notices that only those firms can get these opportunities which are
making strategies and planning for hitting the targets in small period of time. In which the
planning term reflects as a strategic business activity that is permitted and developed to plan and
track the growth and development of the business owner along with its revenue. It enables
business firm to allocate their resources in effective manner for adopting changes, for this the
improvement and development of strategies and plan. So that risk elements will be determined
easily which may arises due to changes in business environments (Rienzo and Chen, 2018). The
following report is based on Guildford Tyre Company. Which was founded in 1976. In this
report discussion about key consideration of small business is explained as how it puts impact on
growth and development of business unit. As well as evaluation of opportunities for growth with
the help of Ansoff’s matrix is included. Analysis of funding resources is also discussed.
Furthermore, business plan is devised with strategic objective and financial information with aim
of enhancement of business. At the end, exit or succession options are explained in context of
small business.
MAIN BODY
TASK1
P1) Considerations to evaluate growth opportunities
Growth opportunities refer as the options to expand business operations at wide level. It
can be done through launching new product or services and explore in a different market
segment (Girling, Senbel and Kellett, 2016). In context of business, there are ample of
opportunities for growth and success are available. For this, business owners can do networking,
undertake new and unique practices, upgrade their knowledgeable in order to carried out new
opportunities to enlarge business operations. There is huge investment required for growth and it
significantly affects existing brand value of company. In context of Guildford tyres, it is crucial
to consider following factors while exploring business functions:
Finance- Managers of respective company need to arrange require funds to undertake
growth opportunities. They need to analyse available money and then evaluate various sources
such as loans, personal saving, venture, capital to get required funds to expand operations.
Before selecting a suitable source, it is essential to monitor the additional cost such as interest,
dividend and many more. This will help to get necessary funds in minimum possible cost.
Required resources- There are ample of resources such as finance, employees, raw
material needed for growth of organization. Managers of Guildford tyres give due considerations
to this element while planning expansion. It is essential to get required resources in order to
expand business at wide level
BCG Matrix-
It is a framework that is used to evaluate the current performance of brand portfolio of a
company. It assists to formulate effective strategies in order to inflate sales as well as
profitability of organization. BCG is undertaken to prepare appropriate strategies by analysing its
current portfolio of products and services. It helps to take effective decisions to make necessary
investments to manage as well as expand business portfolio in an efficient manner. It was created
by Bruce Henderson in 1970 to evaluate the performance of its company. The matrix is based on
two quadrants market growth and market share of brand. In context of Guildford tyres four
crucial quadrants of this tool are discussed as under:
Dogs: These kinds of products acquire low market share in slowly growing market place.
It is not wise to invest in dogs as it may generate losses. Although some business units may turn
prove profitable in long run. Thus, there is requirement to monitor these products or services on
timely basis. In context of selected company their repair and maintenance services of heavy
vehicles falls under category.
Cash Cows- It comprises brands with higher market share but lower opportunities for
growth. These are the most profit generating brands of overall portfolio. Profit receive from here
can be invest in other brands to support their growth (Jafarnezhad, Salmanmahiny and Sakieh,
2016). Guildford tyres are known for its products vehicles diagnostic services and battery
repairing services within country thus they need to make necessary investment for future growth.
Stars-These brands are own higher market share and work in such a market place which
is growing rapidly. It has a potential to earn huge revenue because of higher share at market
place but there is a need to invest money to maintain its growth. The respective company needs
growth opportunities. They need to analyse available money and then evaluate various sources
such as loans, personal saving, venture, capital to get required funds to expand operations.
Before selecting a suitable source, it is essential to monitor the additional cost such as interest,
dividend and many more. This will help to get necessary funds in minimum possible cost.
Required resources- There are ample of resources such as finance, employees, raw
material needed for growth of organization. Managers of Guildford tyres give due considerations
to this element while planning expansion. It is essential to get required resources in order to
expand business at wide level
BCG Matrix-
It is a framework that is used to evaluate the current performance of brand portfolio of a
company. It assists to formulate effective strategies in order to inflate sales as well as
profitability of organization. BCG is undertaken to prepare appropriate strategies by analysing its
current portfolio of products and services. It helps to take effective decisions to make necessary
investments to manage as well as expand business portfolio in an efficient manner. It was created
by Bruce Henderson in 1970 to evaluate the performance of its company. The matrix is based on
two quadrants market growth and market share of brand. In context of Guildford tyres four
crucial quadrants of this tool are discussed as under:
Dogs: These kinds of products acquire low market share in slowly growing market place.
It is not wise to invest in dogs as it may generate losses. Although some business units may turn
prove profitable in long run. Thus, there is requirement to monitor these products or services on
timely basis. In context of selected company their repair and maintenance services of heavy
vehicles falls under category.
Cash Cows- It comprises brands with higher market share but lower opportunities for
growth. These are the most profit generating brands of overall portfolio. Profit receive from here
can be invest in other brands to support their growth (Jafarnezhad, Salmanmahiny and Sakieh,
2016). Guildford tyres are known for its products vehicles diagnostic services and battery
repairing services within country thus they need to make necessary investment for future growth.
Stars-These brands are own higher market share and work in such a market place which
is growing rapidly. It has a potential to earn huge revenue because of higher share at market
place but there is a need to invest money to maintain its growth. The respective company needs
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to undertake effective marketing campaigns to promote its services at wide level as they perceive
as trustworthy services providers by domestic audience.
Question mark- There is potential of growth in these brands but owns lower market
share. Company need to invest amount in these brands to earn higher profit margins. Guildford
tyres required to undertake appropriate strategies for the development of quality products such as
car, buses and other heavy vehicles for expansion.
Mckinsey –
It refers to a framework that is used by companies to make investment decisions in
various brands or business units (Lichfield, Kettle and Whitbread, 2016). General electric matrix
was evolved by Mckinsy and Company group in the year of 1970. There are nine quadrants in
this framework that is used to examine the business strength in contrast of industry
attractiveness. Organizations may invest, hold or divest from a business unit as per their potential
to grow in future. It is an essential strategy that is undertaken to take wise investment decisions
for profitability. There are two crucial factors of MCkinsey are discussed below:
Industry attractiveness- This factor ascertains the level of competition prevailing in an
industry. It comprises ample of factor such as current market trend, number of rivalries, external
factors, demand and many more. Company needs to analyze this factor while taking investment
decisions. In context of Guildford tyres, there are not ample of other organizations that are
providing similar services and products thus they need to be proactive to stay within same field
for long term and explore business.
Competitive strength of a business unit-It is undertaken to examine the potential of a
particular brand to compete with its rivalries (Mrazovic, Larriba-Pey and Matskin, 2017). It not
only analyzes the competitive strength of business unit but also monitors its sustainability. There
are certain factors such as total market share, customer’s loyalty, profitability are used to assess
competitive position of brand. Managers of selected entity adopt effective policies to strengthen
their image among customers and enhance their market share.
There are three invest decisions are made by companies who use general electric’s matrix
for further expansion and growth. With reference of Guildford tyres, these are mentioned below:
Invest-It is for those business units which are profitable and own higher potential to
compete with rivals. Managers of respective entity are planning to put money to improve their
repairing services and serve customers in a better manner.
as trustworthy services providers by domestic audience.
Question mark- There is potential of growth in these brands but owns lower market
share. Company need to invest amount in these brands to earn higher profit margins. Guildford
tyres required to undertake appropriate strategies for the development of quality products such as
car, buses and other heavy vehicles for expansion.
Mckinsey –
It refers to a framework that is used by companies to make investment decisions in
various brands or business units (Lichfield, Kettle and Whitbread, 2016). General electric matrix
was evolved by Mckinsy and Company group in the year of 1970. There are nine quadrants in
this framework that is used to examine the business strength in contrast of industry
attractiveness. Organizations may invest, hold or divest from a business unit as per their potential
to grow in future. It is an essential strategy that is undertaken to take wise investment decisions
for profitability. There are two crucial factors of MCkinsey are discussed below:
Industry attractiveness- This factor ascertains the level of competition prevailing in an
industry. It comprises ample of factor such as current market trend, number of rivalries, external
factors, demand and many more. Company needs to analyze this factor while taking investment
decisions. In context of Guildford tyres, there are not ample of other organizations that are
providing similar services and products thus they need to be proactive to stay within same field
for long term and explore business.
Competitive strength of a business unit-It is undertaken to examine the potential of a
particular brand to compete with its rivalries (Mrazovic, Larriba-Pey and Matskin, 2017). It not
only analyzes the competitive strength of business unit but also monitors its sustainability. There
are certain factors such as total market share, customer’s loyalty, profitability are used to assess
competitive position of brand. Managers of selected entity adopt effective policies to strengthen
their image among customers and enhance their market share.
There are three invest decisions are made by companies who use general electric’s matrix
for further expansion and growth. With reference of Guildford tyres, these are mentioned below:
Invest-It is for those business units which are profitable and own higher potential to
compete with rivals. Managers of respective entity are planning to put money to improve their
repairing services and serve customers in a better manner.
Hold-Under this, there is not higher probabilities to get profit out of investment thus
Guildford tyres needs to take decisions with due consideration before investing huge money in
heavy vehicles segment.
Divest- Business units and brands those are reached at their maturity level and incurring
losses for company is comes under this category. Management team of respective organization is
required to take back their money from those segments that are not profitable.
From above stated points, it is monitored that BCG matrix is perfect tool as per the
market condition of Guildford tyres. It will help them to prepare appropriate strategies to ensure
growth of entity and operate business effectively. It is a crucial framework which is useful to
plan future growth of entity and help to expand business at wide level.
Difference between BCG and Mckinsey:
Comprehensive-Mckinsey matrix is more wider and comprise ample of aspects of
investment as it provides an overall prospective in respect of industry attractiveness and
competitive strength of organization while BCG is a tool that only based on fewer aspects such
as market growth and share acquired by brand in market (Fusarelli, Fusarelli and Riddick, 2018).
Uses- Mckinsey tool is used to take effective investment decisions whereas BCG matrix
is undertaken to evaluate the performance of different business units or brands of organization.
P2) Evaluate the opportunities of growth for entity by applying Ansoff growth matrix
To formulate opportunities of growth and success, Ansoff’s Model is applied. It is an
effective tool that comprises certain strategies which are crucial to enhance presence of company
in market. Ansoff matrix is a framework that is useful for companies select most suitable
strategies for business expansion and growth. It is also known as product or market expansion
matrix as here ample of strategies is prepared with an aim to enlarge business operations. In
context of Guildford tyres, various strategies for future growth are given as under:
Guildford tyres needs to take decisions with due consideration before investing huge money in
heavy vehicles segment.
Divest- Business units and brands those are reached at their maturity level and incurring
losses for company is comes under this category. Management team of respective organization is
required to take back their money from those segments that are not profitable.
From above stated points, it is monitored that BCG matrix is perfect tool as per the
market condition of Guildford tyres. It will help them to prepare appropriate strategies to ensure
growth of entity and operate business effectively. It is a crucial framework which is useful to
plan future growth of entity and help to expand business at wide level.
Difference between BCG and Mckinsey:
Comprehensive-Mckinsey matrix is more wider and comprise ample of aspects of
investment as it provides an overall prospective in respect of industry attractiveness and
competitive strength of organization while BCG is a tool that only based on fewer aspects such
as market growth and share acquired by brand in market (Fusarelli, Fusarelli and Riddick, 2018).
Uses- Mckinsey tool is used to take effective investment decisions whereas BCG matrix
is undertaken to evaluate the performance of different business units or brands of organization.
P2) Evaluate the opportunities of growth for entity by applying Ansoff growth matrix
To formulate opportunities of growth and success, Ansoff’s Model is applied. It is an
effective tool that comprises certain strategies which are crucial to enhance presence of company
in market. Ansoff matrix is a framework that is useful for companies select most suitable
strategies for business expansion and growth. It is also known as product or market expansion
matrix as here ample of strategies is prepared with an aim to enlarge business operations. In
context of Guildford tyres, various strategies for future growth are given as under:
Market Penetration- This strategy refers to provide existing product in existing market
place. Here companies use effective strategies such as discount offers, promotional tools, and
marketing strategies to maintain their presence among existing customers. In this no new product
and services are used by company in order to attract more number of buyers. Here managers
prepare effective strategies and undertake necessary modifications in their existing pricing
techniques to get an edge over other competitors. Guildford Tyre Company needs to make
necessary modification in their current plans in order to attract more number of buyers and
differentiate themselves from competitors.
Advantages-it will help to attract more number of buyers in minimum possible cost as
company does not need to launch any new product and service.
Disadvantages-There is fewer opportunities to grow business at wide level. There are not
more better outcomes can receive from this strategy as company enters in such a market where
already low cost is prevailing.
Market Development-Under this, organization targets to new segment with already
available product and service (Khayatian, Barati and Lim, 2017). It can be done by acquiring one
or more customers groups that was not served by company earlier. Here, entity looks for new
segment of customers to expand business. For this, managers need to take market research to
place. Here companies use effective strategies such as discount offers, promotional tools, and
marketing strategies to maintain their presence among existing customers. In this no new product
and services are used by company in order to attract more number of buyers. Here managers
prepare effective strategies and undertake necessary modifications in their existing pricing
techniques to get an edge over other competitors. Guildford Tyre Company needs to make
necessary modification in their current plans in order to attract more number of buyers and
differentiate themselves from competitors.
Advantages-it will help to attract more number of buyers in minimum possible cost as
company does not need to launch any new product and service.
Disadvantages-There is fewer opportunities to grow business at wide level. There are not
more better outcomes can receive from this strategy as company enters in such a market where
already low cost is prevailing.
Market Development-Under this, organization targets to new segment with already
available product and service (Khayatian, Barati and Lim, 2017). It can be done by acquiring one
or more customers groups that was not served by company earlier. Here, entity looks for new
segment of customers to expand business. For this, managers need to take market research to
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select an appropriate segment to target. They also undertake necessary market research in order
to select new group of consumers. In context of Guildford tyres, there are huge opportunities to
explore market by targeting new segment of customers residing at different location within
country.
Advantages-With this strategy, organization will be able to cater the needs of huge
customer group that will enhance its presence. It will provide an edge to company over
competitors.
Disadvantages- As the segment is entirely new thus there are lower probabilities to get
acceptance in new market. There is a requirement to conduct market research before approaching
another segment of customers
Product Development-Here unique and innovative products are launched for existing
customers groups. Company makes improvement and develops new products to meet with the
needs of end users (Abo-El-Wafa, Yeshitela and Pauleit, 2018). In this, regard, it is essential for
entity to develop innovative and unique products and services to maintain existing brand image
among existing customer groups. For this, managers get benefits from existing brand image of
company as customers have already trust over brand so it is easy to sale new products. Guildford
tyres offers can add some unique services such as providing picking and delivering vehicles at
customer’s convenient place at right time.
Advantages-Under this company works with existing customers base who are clear its
offering and brand image thus there is less requirement of advertisements and public relations
events. Here, customers are already familiar with services of entity.
Disadvantages- Huge money is required to undertake extensive research to launch a new
product and services. In addition, it may also change the existing image of entity in market that
will negatively affect its profit margin.
Diversification- It refers to offer new product and services that are not being provided by
company till now to new segment of buyers. Here organization does not work with existing
product as well as customers. In this, higher investment is required to enlarge business as
customers and products both are new. In addition, an extensive market research needs to be done
in order to assess the opportunities available at market place. Thus, it will require huge time as
well cost to undertake diversification. It is an important strategy that is widely used by
to select new group of consumers. In context of Guildford tyres, there are huge opportunities to
explore market by targeting new segment of customers residing at different location within
country.
Advantages-With this strategy, organization will be able to cater the needs of huge
customer group that will enhance its presence. It will provide an edge to company over
competitors.
Disadvantages- As the segment is entirely new thus there are lower probabilities to get
acceptance in new market. There is a requirement to conduct market research before approaching
another segment of customers
Product Development-Here unique and innovative products are launched for existing
customers groups. Company makes improvement and develops new products to meet with the
needs of end users (Abo-El-Wafa, Yeshitela and Pauleit, 2018). In this, regard, it is essential for
entity to develop innovative and unique products and services to maintain existing brand image
among existing customer groups. For this, managers get benefits from existing brand image of
company as customers have already trust over brand so it is easy to sale new products. Guildford
tyres offers can add some unique services such as providing picking and delivering vehicles at
customer’s convenient place at right time.
Advantages-Under this company works with existing customers base who are clear its
offering and brand image thus there is less requirement of advertisements and public relations
events. Here, customers are already familiar with services of entity.
Disadvantages- Huge money is required to undertake extensive research to launch a new
product and services. In addition, it may also change the existing image of entity in market that
will negatively affect its profit margin.
Diversification- It refers to offer new product and services that are not being provided by
company till now to new segment of buyers. Here organization does not work with existing
product as well as customers. In this, higher investment is required to enlarge business as
customers and products both are new. In addition, an extensive market research needs to be done
in order to assess the opportunities available at market place. Thus, it will require huge time as
well cost to undertake diversification. It is an important strategy that is widely used by
organizations to explore operations at wide level. In context of Guildford tyers, it can also
diversify business by providing new range of services to consumers at different locations.
Advantages-It will help to inflate sales as well as profitability of entity by increasing
number of customers. In addition it will also formulate goodwill of organization among target
segment.
Disadvantage- Diversification considers as a most risky strategy to expand operations as
it may hamper existing image of organization. It also requires huge investment to undertake this
practice thus company need to evaluate every aspect carefully.
Above discussion lighten up on the strategies which can be carried out for future growth
and success. Each has its own drawbacks as well as benefits thus managers of selected entity
need to choose most appropriate one with due consideration. In context of Guildford tyres,
Market development is suitable under this it can expand business operations at different
locations of country. Moreover, it will involve minimum possible cost and there is no
requirement to do invest substantial amount on research and development. Thus, it is the most
appropriate strategy for respective organization to operate effectively.
TASK2
P3) Discuss potential sources of funding for business with their benefits and drawbacks
Funds refer to an essential resource that is required to undertake each and every business
functions. Without necessary money, it is not possible to perform operate an organization. It is
required to pay different expenses such as purchase of raw material, salary of employees and
others. To expand operations at domestic as well as international level, it is significant to acquire
necessary funds. There are ample of sources from where money can borrow to undertake growth
strategies. In context of respective entity some crucial sources are given as under:
diversify business by providing new range of services to consumers at different locations.
Advantages-It will help to inflate sales as well as profitability of entity by increasing
number of customers. In addition it will also formulate goodwill of organization among target
segment.
Disadvantage- Diversification considers as a most risky strategy to expand operations as
it may hamper existing image of organization. It also requires huge investment to undertake this
practice thus company need to evaluate every aspect carefully.
Above discussion lighten up on the strategies which can be carried out for future growth
and success. Each has its own drawbacks as well as benefits thus managers of selected entity
need to choose most appropriate one with due consideration. In context of Guildford tyres,
Market development is suitable under this it can expand business operations at different
locations of country. Moreover, it will involve minimum possible cost and there is no
requirement to do invest substantial amount on research and development. Thus, it is the most
appropriate strategy for respective organization to operate effectively.
TASK2
P3) Discuss potential sources of funding for business with their benefits and drawbacks
Funds refer to an essential resource that is required to undertake each and every business
functions. Without necessary money, it is not possible to perform operate an organization. It is
required to pay different expenses such as purchase of raw material, salary of employees and
others. To expand operations at domestic as well as international level, it is significant to acquire
necessary funds. There are ample of sources from where money can borrow to undertake growth
strategies. In context of respective entity some crucial sources are given as under:
Government loans for start-ups: There are various government institutions that provide
funds to start-ups and small business ventures in order to operate and manage their business
functions in an appropriate way. With this, higher authorities promote and encourage people to
start new business units for the betterment and development of society. In reference of Guildford
tyres, it can borrow necessary funds from government institutions at lower interest rate.
Advantages: These loans are providing on lower interest rate as here the main goal is to
promote small enterprises. It also provides them necessary assistance to operate business
effectively.
Disadvantages: Here assistance provides by government thus ample of legal and written
formalities need to complete for receiving loan.
Bank Loan- it is the most important source that is widely used by small as well as
medium level organizations to meet with their financial needs. Bank loan is considered as
authentic and reliable method to borrow necessary amount to plan growth of business. In context
of Guildford tyres major advantages & disadvantages of this source are outline below:
funds to start-ups and small business ventures in order to operate and manage their business
functions in an appropriate way. With this, higher authorities promote and encourage people to
start new business units for the betterment and development of society. In reference of Guildford
tyres, it can borrow necessary funds from government institutions at lower interest rate.
Advantages: These loans are providing on lower interest rate as here the main goal is to
promote small enterprises. It also provides them necessary assistance to operate business
effectively.
Disadvantages: Here assistance provides by government thus ample of legal and written
formalities need to complete for receiving loan.
Bank Loan- it is the most important source that is widely used by small as well as
medium level organizations to meet with their financial needs. Bank loan is considered as
authentic and reliable method to borrow necessary amount to plan growth of business. In context
of Guildford tyres major advantages & disadvantages of this source are outline below:
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Advantages- There is a written agreement in which all conditions such as time period,
interest are written thus fewer probabilities of fraudulent. In addition banking institutions
provides funds as per the requirements of different business entities. So, selected company can
easily get required money for further growth and expansion.
Disadvantages- Bank loans have ample of restrictions in terms of time period, security
and many more. Organization needs to keep assets as mortgage while borrowing funds from
these institutions. Thus it is not consider as most suitable source for small entities.
Angel Investors-These people are small investors who have money and want to invest in
small and medium enterprises generally start-ups in order to help them to run business in an
efficient manner and earn potential profit. Guildford tyres can borrow necessary amount for
expansion by attracting angel investors.
Advantages- This is appropriate source to borrow money with minimum legal formalities
and extra cost as interest and many more. Organization does not need to pledge assets for
security while acquiring funds.
Disadvantages-Huge money cannot borrow from this source thus it restricts company’s
growth and success. In addition, investors wish to get shares in equity as well as profit that may
reduce the control of management over business functions.
Crowd funding- Under this company takes help of general public to get necessary
amount for expansion. They can approach people by various means such as social media and so
on. It will help Guildford tyres to explore operations at wide level (Needham and Hartmann,
2016).
Advantages- There is fewer legalities thus it is easy to acquire funds. In addition entity
can present their business idea to large audience with crowd funding hence can get experts
advice for further improvements in current project.
Disadvantages-It is time taking process as it is not easy to attract people and convince
them to invest in project.
There are ample of sources to borrow funds to plan growth and each has its own
advantages as well as disadvantages. In reference of Guildford tyres Bank loan seems to most
suitable way to get money for a particular period of time. It will provide efficient opportunities to
organization to explore operations at different location within country.
interest are written thus fewer probabilities of fraudulent. In addition banking institutions
provides funds as per the requirements of different business entities. So, selected company can
easily get required money for further growth and expansion.
Disadvantages- Bank loans have ample of restrictions in terms of time period, security
and many more. Organization needs to keep assets as mortgage while borrowing funds from
these institutions. Thus it is not consider as most suitable source for small entities.
Angel Investors-These people are small investors who have money and want to invest in
small and medium enterprises generally start-ups in order to help them to run business in an
efficient manner and earn potential profit. Guildford tyres can borrow necessary amount for
expansion by attracting angel investors.
Advantages- This is appropriate source to borrow money with minimum legal formalities
and extra cost as interest and many more. Organization does not need to pledge assets for
security while acquiring funds.
Disadvantages-Huge money cannot borrow from this source thus it restricts company’s
growth and success. In addition, investors wish to get shares in equity as well as profit that may
reduce the control of management over business functions.
Crowd funding- Under this company takes help of general public to get necessary
amount for expansion. They can approach people by various means such as social media and so
on. It will help Guildford tyres to explore operations at wide level (Needham and Hartmann,
2016).
Advantages- There is fewer legalities thus it is easy to acquire funds. In addition entity
can present their business idea to large audience with crowd funding hence can get experts
advice for further improvements in current project.
Disadvantages-It is time taking process as it is not easy to attract people and convince
them to invest in project.
There are ample of sources to borrow funds to plan growth and each has its own
advantages as well as disadvantages. In reference of Guildford tyres Bank loan seems to most
suitable way to get money for a particular period of time. It will provide efficient opportunities to
organization to explore operations at different location within country.
TASK3
P4) Project a business plan for the growth that comprises financial information and strategic
objective for scaling up a business.
Business plan refers to the strategies or plan made by management team with relation to
business as it provides a path to meet the future goal or objective of company in small period of
time with effective manner. It has been found that it is essential for company in modern world to
formulate plan so that they can attain their goal within stipulated time (Kumar, 2016). In
planning process involves various stages like designing, producing, operating, monitoring,
controlling, implementing and execution. While developing a plan, company needs to focus
some points so that they will attain their pre-determined goal in effectual way. As well as firm
can also be deals with uncertainties that may be arising as barriers in growth or expansion of
business. A business plan is formed in context of chosen firm Guildford Tyre, which is obstinate
below:
Overview of company: The DESITA cleaning Company was founded in 2015, it is a
medium sized cleaning company of United Kingdom, situated at Guildford, Surrey UK. They
serves services to their consumers related to cleaning. They consist a logo i.e. “we know hygiene
and we understand peoples” apart from it, this company offers discount also to their consumer in
order to attract and influence large number of peoples (Knott and Thnarudee, 2020). Along with
company opt some innovation too in their services which requires modification on continuous
basis so that they can combat with other players of market within same industry.
Mission and vision of company: The main mission of DESITA cleaning Company is to
expand its business at international level by delivering proper services to consumer. With the
help of this the market shares of company will be raised. On the other hand the vision of this
P4) Project a business plan for the growth that comprises financial information and strategic
objective for scaling up a business.
Business plan refers to the strategies or plan made by management team with relation to
business as it provides a path to meet the future goal or objective of company in small period of
time with effective manner. It has been found that it is essential for company in modern world to
formulate plan so that they can attain their goal within stipulated time (Kumar, 2016). In
planning process involves various stages like designing, producing, operating, monitoring,
controlling, implementing and execution. While developing a plan, company needs to focus
some points so that they will attain their pre-determined goal in effectual way. As well as firm
can also be deals with uncertainties that may be arising as barriers in growth or expansion of
business. A business plan is formed in context of chosen firm Guildford Tyre, which is obstinate
below:
Overview of company: The DESITA cleaning Company was founded in 2015, it is a
medium sized cleaning company of United Kingdom, situated at Guildford, Surrey UK. They
serves services to their consumers related to cleaning. They consist a logo i.e. “we know hygiene
and we understand peoples” apart from it, this company offers discount also to their consumer in
order to attract and influence large number of peoples (Knott and Thnarudee, 2020). Along with
company opt some innovation too in their services which requires modification on continuous
basis so that they can combat with other players of market within same industry.
Mission and vision of company: The main mission of DESITA cleaning Company is to
expand its business at international level by delivering proper services to consumer. With the
help of this the market shares of company will be raised. On the other hand the vision of this
company is to target consumer as much as they can for enhancing the sales and profit of
company.
Strategic objective: It is essential for firm to adopt and follows some smart objective
which includes specific, measurable, achievable, and reliable and time bound. In which some of
objective are mentioned below in context of chosen firm:
The main objective is to expand its business in opening two new venture in other areas or
nation within next two years as well as to increase the revenue by 15 %.
STP approach:
DESITA cleaning Company use this model in order to achieve their objective or goal by
having proper strategies and plans (Hollander, 2017). In which a description is mentioned below:
Segmentation: It refers to sub division of market in small parts so that company will
reach out to all consumers for delivering their services. It can carried out on some criteria like
behaviour, geographic, physiographic and demographics (Pugalis and et.al., 2016). In which the
chosen firm segmented their market on the basis of demographics. As this company serves in
cleaning so this is useful for only cleaning industry.
Targeting: In this selected firm targets the segment market for enhancing their sales and
profit. In which they mainly targets those consumers and commercial sectors.
Positioning: It tends to creating position related to product or service in consumer mind.
By which enterprise can able to build a positive image in front of their end users.
Situational analysis: - senior authorities of chosen firm implement SWOT analysis in
order to identify the strength, weakness, opportunities and threats.
Strength –
sAdoption of new advanced technology and strategies on continuous basis give them
strengthen to compete with competitive market as well as to gain benefits on right time
(Birkin, Clarke and Clarke, 2017). Improvement in the attitude of employee on regular basis aids company to face
challenging or difficult task in effective manner without any hindrance.
Weakness-
Enterprise do not possess required amount of capital and resources for improving their
business structure.
company.
Strategic objective: It is essential for firm to adopt and follows some smart objective
which includes specific, measurable, achievable, and reliable and time bound. In which some of
objective are mentioned below in context of chosen firm:
The main objective is to expand its business in opening two new venture in other areas or
nation within next two years as well as to increase the revenue by 15 %.
STP approach:
DESITA cleaning Company use this model in order to achieve their objective or goal by
having proper strategies and plans (Hollander, 2017). In which a description is mentioned below:
Segmentation: It refers to sub division of market in small parts so that company will
reach out to all consumers for delivering their services. It can carried out on some criteria like
behaviour, geographic, physiographic and demographics (Pugalis and et.al., 2016). In which the
chosen firm segmented their market on the basis of demographics. As this company serves in
cleaning so this is useful for only cleaning industry.
Targeting: In this selected firm targets the segment market for enhancing their sales and
profit. In which they mainly targets those consumers and commercial sectors.
Positioning: It tends to creating position related to product or service in consumer mind.
By which enterprise can able to build a positive image in front of their end users.
Situational analysis: - senior authorities of chosen firm implement SWOT analysis in
order to identify the strength, weakness, opportunities and threats.
Strength –
sAdoption of new advanced technology and strategies on continuous basis give them
strengthen to compete with competitive market as well as to gain benefits on right time
(Birkin, Clarke and Clarke, 2017). Improvement in the attitude of employee on regular basis aids company to face
challenging or difficult task in effective manner without any hindrance.
Weakness-
Enterprise do not possess required amount of capital and resources for improving their
business structure.
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Lack of promotional activates leads them towards less consumer base and which
ultimately reduces the sales and profit margin of company. The major problem in operating business in effective manner that selected organisation
faces is due to less liquidity ration and improper fund.
Opportunity-
To serve their services at lower rate without minimizing the quality of services in order to
grab more peoples towards their service could become a great opportunity for DESITA
cleaning Company and this can be carried out with the help of cost leadership methods.
As well as with the help of penetration scheme they will easily able to enter in new
market. Diversification is another opportunity for chosen firm (Yu, Yanxu and Bojie, 2019).
Threat:
Entry of other competitive rivalries is the biggest threat for DESITA cleaning Company. Less promotional activities set of BOD of chosen firm.
Financial activities- It includes all those activities which are related with the cash outflow
and inflow of company either in investment, mutual fund or in any other. It is carried out a
specific aim like if a company wish to expand its business then they possess right amount of
capital or not as well as if they open their new venture would it be beneficial for them or not all
these can be estimated with the help of this financial activities. In which it includes various types
of cost such as promotional cost, capital investment and so on. The below given is the marketing
budget of DESITA cleaningcompany:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 50000 9000 24000 30000 15000
Investment 21000 24000 30000 25000
Total 50000 30000 48000 60000 40000
ultimately reduces the sales and profit margin of company. The major problem in operating business in effective manner that selected organisation
faces is due to less liquidity ration and improper fund.
Opportunity-
To serve their services at lower rate without minimizing the quality of services in order to
grab more peoples towards their service could become a great opportunity for DESITA
cleaning Company and this can be carried out with the help of cost leadership methods.
As well as with the help of penetration scheme they will easily able to enter in new
market. Diversification is another opportunity for chosen firm (Yu, Yanxu and Bojie, 2019).
Threat:
Entry of other competitive rivalries is the biggest threat for DESITA cleaning Company. Less promotional activities set of BOD of chosen firm.
Financial activities- It includes all those activities which are related with the cash outflow
and inflow of company either in investment, mutual fund or in any other. It is carried out a
specific aim like if a company wish to expand its business then they possess right amount of
capital or not as well as if they open their new venture would it be beneficial for them or not all
these can be estimated with the help of this financial activities. In which it includes various types
of cost such as promotional cost, capital investment and so on. The below given is the marketing
budget of DESITA cleaningcompany:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 50000 9000 24000 30000 15000
Investment 21000 24000 30000 25000
Total 50000 30000 48000 60000 40000
Marketing
expenditures
Advertisement 1000 8000 3000 8000 5000
Sales promotion 2000 6000 3000 7000 5000
Direct marketing 9000 8000 3000 5000 8000
Total 12000 22000 9000 20000 18000
Available balance 38000 8000 39000 40000 22000
From above table it has been found that it is five years marketing budget in which the total
expenditure in 1st year is £12000 and in 5th year is £18000. Which seems beneficial or in favour
of company. So if company adopt promotional activities foe promoting their services then it
would be advantageous for them.
TASK4
P5) Examine exit/ succession options in context of small business for explaining the benefits and
drawbacks for each options.
Exit Option- This option provides benefits when company faces loss and in condition of
giving up about business operation. In this situation they try to give their authorities and power
to another company. This has been seen that it is more useful for business owners as it offers exit
option to them if they are facing any loss in business (Sparkman, 2018).In relation to this, if an
organisation faces loss for a longer period of time then winding up of business is good for them.
In which some of option are discussed below:
Winding up- It is a process that aids in the liquidation of the corporation and for this, the
business owner need to sell all the assets of business and distribute all remaining finances among
shareholders and stakeholders of their organization. In context of chosen firm, if corporation do
not gain success in expansion the winding up would be the viable option for them.
expenditures
Advertisement 1000 8000 3000 8000 5000
Sales promotion 2000 6000 3000 7000 5000
Direct marketing 9000 8000 3000 5000 8000
Total 12000 22000 9000 20000 18000
Available balance 38000 8000 39000 40000 22000
From above table it has been found that it is five years marketing budget in which the total
expenditure in 1st year is £12000 and in 5th year is £18000. Which seems beneficial or in favour
of company. So if company adopt promotional activities foe promoting their services then it
would be advantageous for them.
TASK4
P5) Examine exit/ succession options in context of small business for explaining the benefits and
drawbacks for each options.
Exit Option- This option provides benefits when company faces loss and in condition of
giving up about business operation. In this situation they try to give their authorities and power
to another company. This has been seen that it is more useful for business owners as it offers exit
option to them if they are facing any loss in business (Sparkman, 2018).In relation to this, if an
organisation faces loss for a longer period of time then winding up of business is good for them.
In which some of option are discussed below:
Winding up- It is a process that aids in the liquidation of the corporation and for this, the
business owner need to sell all the assets of business and distribute all remaining finances among
shareholders and stakeholders of their organization. In context of chosen firm, if corporation do
not gain success in expansion the winding up would be the viable option for them.
Advantage- In winding option, the purchase of organization to close the company expires
on their probable date because if the company suffers from legal action at the time of liquidation,
it will be closed. For this the proprietor of firm get free from all debts and then firm will not face
any failure.
Disadvantage- In this the owner of company loss their control from assets of business
unit as well as considered overall winding option. Apart from this company loss their skilled and
knowledgeable employees too in this.
Selling in open market- This seems to be effective to sell business as well as product in
open market. In this situation company needs to buy their all goods from external side or third
party (Krumholz and Hexter, 2019).In relation to business operation this is more effective
methods of exit as all things remain same and only the owner of enterprise will change.
Advantage- In term of image of company it would not harm that, and due to this it
provides benefits to those business owners who are more conscious towards image of firm and
provide opportunity to purchase that as it doesn’t influence the operation functions of company.
Disadvantage- In this company losses their talented and skilled employees as well as
power too that affects the motivational level and moral down the workers.
Succession option: - This offers benefits to company in terms of success for operating
their business in effective manner. As it provides motivation and encouragement to business
owner for running their business in effectual way. In which some of option are discussed below:
Merger and acquisition- It shows that an organization buys a significant part of the
company and merges with them and fully acquires assets in different areas of the firm (Zhao, C.,
and et.al., 2016). Furthermore, it also covers the absorption of the target firm by acquirer.
Benefits
More profit refers to effective research and development. Support in struggling as it become beneficial in new management.
Drawbacks
It implies towards enhancement of market shares which leads to development of
monopoly and higher cost price for buyers. Company need to experience about scale of economy as it is harder to communicate and
coordinate.
on their probable date because if the company suffers from legal action at the time of liquidation,
it will be closed. For this the proprietor of firm get free from all debts and then firm will not face
any failure.
Disadvantage- In this the owner of company loss their control from assets of business
unit as well as considered overall winding option. Apart from this company loss their skilled and
knowledgeable employees too in this.
Selling in open market- This seems to be effective to sell business as well as product in
open market. In this situation company needs to buy their all goods from external side or third
party (Krumholz and Hexter, 2019).In relation to business operation this is more effective
methods of exit as all things remain same and only the owner of enterprise will change.
Advantage- In term of image of company it would not harm that, and due to this it
provides benefits to those business owners who are more conscious towards image of firm and
provide opportunity to purchase that as it doesn’t influence the operation functions of company.
Disadvantage- In this company losses their talented and skilled employees as well as
power too that affects the motivational level and moral down the workers.
Succession option: - This offers benefits to company in terms of success for operating
their business in effective manner. As it provides motivation and encouragement to business
owner for running their business in effectual way. In which some of option are discussed below:
Merger and acquisition- It shows that an organization buys a significant part of the
company and merges with them and fully acquires assets in different areas of the firm (Zhao, C.,
and et.al., 2016). Furthermore, it also covers the absorption of the target firm by acquirer.
Benefits
More profit refers to effective research and development. Support in struggling as it become beneficial in new management.
Drawbacks
It implies towards enhancement of market shares which leads to development of
monopoly and higher cost price for buyers. Company need to experience about scale of economy as it is harder to communicate and
coordinate.
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Integration: This is beneficial for corporation as it is when two organizations are competing
in the same industry at the same level of production as well as decide to unite for their own
benefit.
Benefits – It reduces competition and increases collaborations at market.
Drawbacks- It feats economic growth for new concept of company.
CONCLUSION
From above discussed report it has been analysed that planning plays vital role for company
whenever they are wishing for expanding its business at domestic or global level. So that they
will able to attain their desired goal by examine the potential opportunities of marketplace. In
which it has been found that Ansoff’s matrix is the most favourable approach that undertakes by
companies in order to gain competitive advantage. As well as the expansion or enlargement of
business required a lot of funding which can be sourced with the help of bank loans, venture
financing, family and friends. Moreover, a business plan is devised with financial information
and strategic objective so that company will get to know that devised plan is beneficial or not in
term of scaling up or growth. Lastly, exit or success option is opted for facing the uncertainties
which can influence the function of business and its activities.
in the same industry at the same level of production as well as decide to unite for their own
benefit.
Benefits – It reduces competition and increases collaborations at market.
Drawbacks- It feats economic growth for new concept of company.
CONCLUSION
From above discussed report it has been analysed that planning plays vital role for company
whenever they are wishing for expanding its business at domestic or global level. So that they
will able to attain their desired goal by examine the potential opportunities of marketplace. In
which it has been found that Ansoff’s matrix is the most favourable approach that undertakes by
companies in order to gain competitive advantage. As well as the expansion or enlargement of
business required a lot of funding which can be sourced with the help of bank loans, venture
financing, family and friends. Moreover, a business plan is devised with financial information
and strategic objective so that company will get to know that devised plan is beneficial or not in
term of scaling up or growth. Lastly, exit or success option is opted for facing the uncertainties
which can influence the function of business and its activities.
REFERENCES
Books and journals
Abo-El-Wafa, H., Yeshitela, K. and Pauleit, S., 2018. The use of urban spatial scenario design
model as a strategic planning tool for Addis Ababa. Landscape and Urban Planning, 180,
pp.308-318.
Birkin, M., Clarke, G. and Clarke, M., 2017. Retail location planning in an era of multi-channel
growth. Routledge.
Fusarelli, B.C., Fusarelli, L.D. and Riddick, F., 2018. Planning for the future: Leadership
development and succession planning in education. Journal of Research on Leadership
Education, 13(3), pp.286-313.
Girling, C., Senbel, M. and Kellett, R., 2016. EFFECTS OF VISUALIZATIONS AND
INFORMATION-RICH PUBLIC ENGAGEMENT IN PLANNING FOR ENERGY
AND EMISSIONS. Journal of Architectural and Planning Research, pp.140-158.
Hollander, J. B., 2017. An Ordinary City: Planning for Growth and Decline in New Bedford,
Massachusetts. Springer.
Jafarnezhad, J., Salmanmahiny, A. and Sakieh, Y., 2016. Subjectivity versus objectivity:
comparative study between brute force method and genetic algorithm for calibrating the
SLEUTH urban growth model. Journal of Urban Planning and Development, 142(3),
p.05015015.
Khayatian, A., Barati, M. and Lim, G.J., 2017. Integrated microgrid expansion planning in
electricity market with uncertainty. IEEE Transactions on Power Systems, 33(4),
pp.3634-3643.
Knott, P. and Thnarudee, C., 2020. Strategic planning as inter-unit coordination: An in depth
case study in Thailand. Asia Pacific Journal of Management. pp. 1-24.
Krumholz, N. and Hexter, K. W. eds., 2019. Advancing equity planning now. Cornell University
Press.
Kumar, D., 2016. Enterprise growth strategy: vision, planning and execution. CRC Press.
Lichfield, N., Kettle, P. and Whitbread, M., 2016. Evaluation in the Planning Process: The
Urban and Regional Planning Series, Volume 10 (Vol. 10). Elsevier.
Mrazovic, P., Larriba-Pey, J.L. and Matskin, M., 2017, July. Improving mobility in smart cities
with intelligent tourist trip planning. In 2017 IEEE 41st Annual Computer Software and
Applications Conference (COMPSAC) (Vol. 1, pp. 897-907). IEEE.
Needham, B. and Hartmann, T. eds., 2016. Planning by law and property rights reconsidered.
Routledge.
Pugalis, L., and et.al., 2016. New approaches to growth planning on larger-than-local
scales. Journal of Urban Regeneration & Renewal. 10(1). pp. 73-88.
Rienzo, T. and Chen, K., 2018. Planning for low end analytics disruptions in business school
curricula. Decision Sciences Journal of Innovative Education. 16(1). pp. 23-41.
Sparkman, R., 2018. Strategic Workforce Planning: Developing Optimized Talent Strategies for
Future Growth. Kogan Page Publishers.
Yu, D., Yanxu, L. and Bojie, F., 2019. Urban growth simulation guided by ecological constraints
in Beijing city: Methods and implications for spatial planning. Journal of environmental
management. 243. pp.402-410.
Books and journals
Abo-El-Wafa, H., Yeshitela, K. and Pauleit, S., 2018. The use of urban spatial scenario design
model as a strategic planning tool for Addis Ababa. Landscape and Urban Planning, 180,
pp.308-318.
Birkin, M., Clarke, G. and Clarke, M., 2017. Retail location planning in an era of multi-channel
growth. Routledge.
Fusarelli, B.C., Fusarelli, L.D. and Riddick, F., 2018. Planning for the future: Leadership
development and succession planning in education. Journal of Research on Leadership
Education, 13(3), pp.286-313.
Girling, C., Senbel, M. and Kellett, R., 2016. EFFECTS OF VISUALIZATIONS AND
INFORMATION-RICH PUBLIC ENGAGEMENT IN PLANNING FOR ENERGY
AND EMISSIONS. Journal of Architectural and Planning Research, pp.140-158.
Hollander, J. B., 2017. An Ordinary City: Planning for Growth and Decline in New Bedford,
Massachusetts. Springer.
Jafarnezhad, J., Salmanmahiny, A. and Sakieh, Y., 2016. Subjectivity versus objectivity:
comparative study between brute force method and genetic algorithm for calibrating the
SLEUTH urban growth model. Journal of Urban Planning and Development, 142(3),
p.05015015.
Khayatian, A., Barati, M. and Lim, G.J., 2017. Integrated microgrid expansion planning in
electricity market with uncertainty. IEEE Transactions on Power Systems, 33(4),
pp.3634-3643.
Knott, P. and Thnarudee, C., 2020. Strategic planning as inter-unit coordination: An in depth
case study in Thailand. Asia Pacific Journal of Management. pp. 1-24.
Krumholz, N. and Hexter, K. W. eds., 2019. Advancing equity planning now. Cornell University
Press.
Kumar, D., 2016. Enterprise growth strategy: vision, planning and execution. CRC Press.
Lichfield, N., Kettle, P. and Whitbread, M., 2016. Evaluation in the Planning Process: The
Urban and Regional Planning Series, Volume 10 (Vol. 10). Elsevier.
Mrazovic, P., Larriba-Pey, J.L. and Matskin, M., 2017, July. Improving mobility in smart cities
with intelligent tourist trip planning. In 2017 IEEE 41st Annual Computer Software and
Applications Conference (COMPSAC) (Vol. 1, pp. 897-907). IEEE.
Needham, B. and Hartmann, T. eds., 2016. Planning by law and property rights reconsidered.
Routledge.
Pugalis, L., and et.al., 2016. New approaches to growth planning on larger-than-local
scales. Journal of Urban Regeneration & Renewal. 10(1). pp. 73-88.
Rienzo, T. and Chen, K., 2018. Planning for low end analytics disruptions in business school
curricula. Decision Sciences Journal of Innovative Education. 16(1). pp. 23-41.
Sparkman, R., 2018. Strategic Workforce Planning: Developing Optimized Talent Strategies for
Future Growth. Kogan Page Publishers.
Yu, D., Yanxu, L. and Bojie, F., 2019. Urban growth simulation guided by ecological constraints
in Beijing city: Methods and implications for spatial planning. Journal of environmental
management. 243. pp.402-410.
Zhao, C., Qiu, J., Liu, G. and Lv, K., 2016. Planning, tracking and projecting method for
testability growth based on in time correction. Proceedings of the Institution of
Mechanical Engineers, Part O: Journal of Risk and Reliability. 230(2). pp. 228-236.
testability growth based on in time correction. Proceedings of the Institution of
Mechanical Engineers, Part O: Journal of Risk and Reliability. 230(2). pp. 228-236.
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