Planning for Growth TABLE OF CONTENTS INTRODUCTION
Added on 2020-07-23
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Planning for Growth
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analysing consideration for evaluating growth opportunity within Unicorn grocery andimpact on digital technology..................................................................................................1P2 Evaluating the opportunities for growth applying Ansoff's growth vector matrix forUnicorn grocery......................................................................................................................3TASK 2............................................................................................................................................5P3 Assessing the source of funds available to Unicorn and also their benefits and drawbacks.5TASK 3............................................................................................................................................7P4 Designing a business plan for growth includes financial information and strategicobjectives for scaling up Unicorn grocery..............................................................................7TASK 4............................................................................................................................................8P5 Assessing the exit or succession options for Unicorn and explaining the benefits anddrawbacks of both...................................................................................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONIn this era of development planning is very essential as without making any plan forthe business enterprise about the financial need or the sales or anything organisation cannotgrowth with the potential. Planning for the growth is that strategic activity which assist themanagement to evaluate the growth and the amount of revenue generated. The present reportis about Unicorn grocery which evaluates the growth opportunities in the given market andthe impact of technology on its products. Ansoff's matrix is used to analysis how Unicorngrocery can introduce new product in existing market, existing product in existing market,new product in new market and existing product in new market. TASK1P1 Analysing consideration for evaluating growth opportunity within Unicorn groceryand impact on digital technology.Making the business plan is the most essential part of organisation and for its growthas well without which the organisation cannot sustain. Business plan are also reviewedregularly as per the part and plan of business to see whether it has achieved the target. Tokeep reviewing the current performance on continues basis and identifying the strategies forits growth (Bunker, 2015). Unicorn grocery is Manchester's cooperative grocery store whichis controlled democratically by owners and sells fresh and processed foods and drinks.Unicorn is largest and independent food groceries in UK with an annual turnover of around£7 million and also the winner of Best Local Food Retailer in 2008 by BBC radio. For theevaluation of growth and the strategic planning Unicorn firstly need to set goal what it needto achieve in long run then it considers the growth opportunities in market. As a grocery storeand dealing in a number of products Unicorn can grow faster in the market by just maintainthe loyal customers and easily identify the growth opportunities. Unicorn grocery mainlyfocus on organic, regional and fairly traded products and to provide the best quality productto its customers. There are many factors which Unicorn grocery considers while evaluatingthe business growth opportunities and how much practical these factors are in the growth.Infrastructure- there should be good and easy approach to infrastructure like roads,water, electricity and telecommunication services so that they all are not adding up inthe operating cost of Unicorn grocery (Daubenfeld,2014). If these operating costs willbe minimum then surely the profits of firm would be maximum. Infrastructure also1
include the building in which the grocery store is running should be best suited for theemployees as well as the customers coming to purchase.Price structures- the main consideration is that of the value of the goods and servicein terms of money available in Unicorn grocery. If the price of the goods are veryaffordable for customers then they will be buying the goods from Unicorn groceryonly. As the goods which it sells are very much subjected to constant inflation in thissituation the price structure will change. Competition and competitive advantage- if there are many grocery stores operatingin the market with the same kinds of product then that would be a threat to business.Moreover, if the said competition is in a healthy way then it will go along with theway in controlling price of goods offered for the public. But if competition level is nothigh Unicorn must consider that as an opportunity to get reasonable market share. Personnel, training and management- in Unicorn grocery it is very vital to analysisthe amount and quality of personal required in the sustainable growth and also to trainand develop them (Frank and Reiss, 2014). Unicorn grocery should evaluate the costof hiring, ability of personal and training and development of human resource. If themanagement is very efficient in Unicorn then the business will certainly succeed.Market for goods and services- Unicorn grocery should analyse the potential andactual market for its goods and services that it would be selling. The marketopportunities should also be defined and must be kept in consideration while planningfor growth of Unicorn grocery.In today's world where technology has evolved very much that it has been used inevery field of work. Advancement in technology and digital market is there in everymarket as without this business can not grow or even start. Unicorn grocery is alsousing the digital technology in its development and growth of business. Digitaltechnology is simply the use of online platform for marketing and advertising businesson a global market which can be accessed from anywhere.2
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