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Planning for Growth Project - Assignment

   

Added on  2021-02-19

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Planning for Growth

INTRODUCTIONPlanning is the long term strategy which is prepared by managers of businessorganisation in order to sustain growth and development. It is the process of getting ideas aboutbusiness activities that is required to accomplish desired goals. Planning is the first stage of anybusiness entity that helps to make present as well as future plans. It is important for enterprises tomake future plans for achieving desired objectives (Batty and Marshall, 2012). The main objectsof planning is to ascertain the growth of business industry by maximizing profits. The mainpurpose of this project report is to understand the why planning is important for companies andhow it helps in growth of business organisation. To know about planning for growth Qila Joe hasbeen taken that will offers different types of coffee to their customers and would help to sustainthe business growth. This project will discusses about Ansoff's matrix for growth opportunities,funding sources and plan of business that involves financial information and objectives forscaling up a business.TASK 1P1 Planning is the long term strategy which is used to set the goals and objectives ofbusiness industry and increase the productivity. The manager of any business entity prepareplans and creates number of options to face the problems. The Qila Joe is a coffee companywhich is going to different flavour of coffee in London. To build this business successfully themanagers of Qila Joe needed to make plans for completing the objectives. It considers twoidentified key consideration that may help entity to attain growth objectives (Boserup, 2017).The description of key points are given as:Porter's generic strategy: This is strategy which was described by Michael Porter in1980. This strategy states that how an entity pursues competitive advantages beyond the selectedmarket. It can be used by any organisation to get the competitive advantages. It contains fourstrategy which are defined as:Cost leadership: In this type of strategy, a business organisation set out to be the lowercost manufacturer in same field. Its sources involves cost advantages which is depend on thestructure of entity. The main purpose of this strategy to achieve and sustain overall costleadership by focusing on cost. 1

Cost focus: This strategy mainly focused on launching products in small market segmentwith low prices of products and services. It can be adopted by manufacturing company to launchnew products at low cost in small market in order to attract the customers. It is essential toreduce the cost of production and increase the profitability.Differentiation: In this strategy, a business organisation is looking to be unique in itsindustry by bringing new products which are valued for buyers (de Roo, 2017). It supposed thatcompany will produce different types of products as compare to others. It helps to attract thethose customers who want to purchase new and attractive products.Differentiation focus: This strategy is relates with unique products that are introduced insmall market segment. The manager of business entity consider all needs of customers duringmanufacturing the products. It can help to targeted people and creates opportunities by fulfillingtheir needs. Moreover, it helps to create the good image of business in London.From the above strategy Qila Joe has decided to use differentiation focus strategy whichis most relevant and feasible for organisation. As Qila Joe has decided to launch new cafe withunique product it will attracts the customers by providing number of flavour and better quality ofproducts in London. These differences will help to make Qila Joe stand out. The company willemphasis on speciality of coffee that will help to make different from competitors and wouldhelp to increase the competitive advantages (Dimitriou, 2013). Moreover, this strategy will bemore sustainable and responsible because it will manufacture different and unique products thatinfluences customers to purchase new products.From the above discussion it is analysed that a business organization focuses on differentchanges which needs to be accept by management. The main aim is to create opportunities forbusiness growth and reach globally. For example, Qila Joe is wants to increase business activitiesfor the purpose of expanding business. In this situation, manager need to introduce from newproducts that will attract customer for availing services. For this manager will make strategy andapply in their organization that helps to maintain business growth.PESTLE AnalysisThis is a techniques which is used by organisation to know which factor can impacts onbusiness industry. This tool helps managers to make effective business decision by providingexternal environment's information. The PESTLE analysis of Qila Joe is defined as:2

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