Report on Planning for Growth - Orion Electrotech Ltd
Added on 2020-06-04
15 Pages4176 Words47 Views
PLANNING FOR GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1LO 1.................................................................................................................................................1P1 Growth opportunities and justify consideration in the organisational context..................1P2 Ansoff matrix with the chosen business............................................................................2TASK 2............................................................................................................................................5LO 2.................................................................................................................................................5P3 Different types of sources of fund with its advantages and disadvantages.......................5TASK 3............................................................................................................................................6LO 3.................................................................................................................................................6P4 Business plan with different elements...............................................................................6TASK 4............................................................................................................................................9LO 4.................................................................................................................................................9P5 Exit and succession option for small business chosen business .......................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONIn every business, planning considered essential element that make growth and creativeopportunities for developing profitable results. In this way, business can attain long termsustainability to enhance revenue and profits at workplace. Better values and operations will alsohelp to promote tasks in the large areas of the world (Osiyevskyy, Hayes and Madill, 2013).When organisation has better values, they can easily intimate growth of the business insuccessful manner. With this consideration, present study focuses on Orion Electrotech Ltdwhich is the small sector business of UK. They are providing recruitment services thatconsidered effective functions and operations to make high growth. For gaining insightknowledge of the company the report covers growth opportunities to increase SME goals andobjectives. Furthermore, it includes sources of funding that are available to the company andcreate benefits and drawbacks. Moreover, it focuses on the design of business plan with financialinformation and strategic objectives. TASK 1LO 1P1 Growth opportunities and justify consideration in the organisational contextOrion Electrotech Ltd is the small sector business of UK market which consist severaloperations and functions to develop creativity at workplace. Main aim of the company is toincreasing the efficiency to create more revenue and profits (Leigh and Blakely, 2016). Theselected business is recruitment company so that they are operating their functions andoperations to make better results in the company. In this regard, categorising problems andgrowth pattern will be develop in systematic way. Small business widely characteristics throughindependence of action, management styles and differing organisational structure. In respect tocreate growth, every business requires assess their current strength, weaknesses andopportunities so that vision will be develops to create effective action plan (C. Churchill and L.Lewis, 2018). Along with this, the selected business need to concentrate on the new areas where OrionElectrotech Ltd can easily bring more profitable at workplace. Furthermore, they are alsoensured that new business offers differentiate elements through they will attain more profits. Inthis way, they can easily make themselves from the competition. Growth is the important aspect1
that assists to create effective functioning at workplace through determines creativity atworkplace. There are also certain areas exists where the chosen company will easily demonstratetheir operations in succeeding manner. For example, with implementation of e-commerce, onlinemarketing, etc. According to the societal needs, challenging environment need to be placed sothat opportunities will be develop for the company (Li, Mobin and Keyser, 2016). In order to develop the framework relevant to the small and growing business, everyenterprise using combination of experience, empirical research, literature, etc. This evolved fromthe several efforts which assists to create size, diversity, complexity, etc. Furthermore, there arefive management factors exists that assists to promote effective functions and operations atworkplace. For example, managerial style, organisational structure, strategic goals, etc. With thehelp of different strategies, the company can make sure that profitability and productivity will bemake survival to the recruitment agency. In addition to this, small business also create plans toproceed and commitment to the growth strategy. If the company is unsuccessful, it is possible tomake survival stage again. Key problems and issues will be solve through implement financewhich grow different elements in the business (Haughton, Allmendinger and Oosterlynck, 2013).In order to consider growth opportunities for Orion Electrotech Ltd, following elementscould be applied:Market segmentation: Market segmentation simply consider to make sub set of allmarketplace to consider sales efforts around the place. In this way, small businessdetermines their operations and functions in new market segment so that they are able toperform unique results. In Orion Electrotech Ltd, market segmentation helps to focus ondifferent people needs. Leveraging partnership: Leveraging partnership consider in small business to competewith vendor relationship. Therefore, they are able to perform several effectiveconsideration to supply effective products and services. P2 Ansoff matrix with the chosen businessIn order to make growth in the business, there are different parameters exists that assiststo create effectiveness at workplace. In this aspect, Orion Electrotech Ltd need to implementAndoff Growth Matrix through they will able to create strategic elements at workplace. It is thebest activity that increasing profits and revenue to manage teams and focus on the growth. In thisregard, the selected business ensure enhancement in current products and new ones or2
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