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(solved) Planning for Growth PDF

   

Added on  2020-09-17

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Planning for growth

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key considerations for evaluating growth in organisational context and their impact ondigital technology........................................................................................................................1P2. Ansoff's growth vector matrix for evaluating opportunities for growth ..............................3TASK 2............................................................................................................................................6P3 Potential sources of funding available to businesses with benefits and drawbacks of eachother.............................................................................................................................................6TASK 3............................................................................................................................................7P4 Design a business plan...........................................................................................................7TASK 4..........................................................................................................................................10P5 Assess exit or succession options for a small business with benefits and drawbacks of eachother...........................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................11

INTRODUCTIONNow a days, every business organisation is focused to plan all its activities and operationsin order to perform effectively in the target market. Small business organisations are nowbecoming a growing industry in UK; but such firms do not have high sales volume. Planningfactor is really helpful for business organisations in gaining long term growth and success. It isfundamental for small scale industries in order to extend at global level in a certain time period(Barbour and Deakin, 2012). Planning for growth gives strengthen to all business activities andoperations. Telecom Plus is the chosen business entity in this present assignment; it deals inelectricity, land line, gas, broadband and mobile services to public. Firm was regulated in theyear 1996 and its overall revenue is £744.7 million. Apart from this, assignment will describekey considerations to evaluate the growth opportunities. Furthermore, different sources offunding for a business will also be included in this report. TASK 1P1 Key considerations for evaluating growth in organisational context and their impact on digitaltechnologyGrowth and development is the major key factor for every commercial entity that hastaken into account by the top management. Business expansion is the only one thing that aids afirm to grow and diversify at vast level so as to generate high sales revenue and profitability.Apart from this, growth could be a risk and uncertainty, therefore managers have to plan their allstrategies and policies so as perform effectively in target market. There are differentconsiderations defined that are used by every organisation in order to achieve high growth andadvancement (Beatley, 2014). Some of these are: Market share – It is the basic element that is considered in planning process. Every firmwants to increase its market share and grab high competitive advantage rather than itscompetitors. It is also helpful in bringing customers by supplying them new and uniqueproducts. Along with this, to create comprehensive image of market and accomplishstrong position, some aspects have to be analysed, such as who are the targeted buyers ofTelecom Plus. It can be done through market research towards clients who are providedwith cloud services, bandwidth network and other IT services. It help in increasing the1

profitability and productivity of the company and help in achieving the growth of thefirm. Profitability – In order to expand the market area, companies also tend towards joiningother businesses. It is accessible in enhancing the market share of the firm as well as thedecision making process. Small business enterprise like Telecom Plus are improving itsprofitability through partnership, franchising, joint ventures, mergers and acquisitions.For example- by successful franchising, business organisations can easily promotethemselves in the international market and bring numerous customers. Apart from this,with the assistance of merger and acquisition, strategic alliances can be made by twobusiness entities through in a pervasive manner (Chen and et. al., 2014). It will behelpful in delivering high quality products to customers and improvising themanufacturing procedure of company. Secondly, it can also reduce the workload by bothorganisations which will contribute in making relevant decisions or conclusion as well asoptimum allocation of resources. At last, if employees are working with other colleaguesthen it can also improve their skills and knowledge in a particular field. This help inmaking improvement in the profitability of Telecom plus and positively affect the growthof the firm. Advanced technology – In this modern era, small business organisations like TelecomPlus are adopting new tools and techniques for the production. It aids them in gaininghigh growth and profitability in an effective manner. Customers are also attractedtowards new technologies which give them higher level of satisfaction. In firm's context,it has been obtained that companies are moving towards digitalisation and adopting ITsources for the production process. Therefore, the firm has to provide certain services, i.e.cloud services and many others. It helps companies to be succeed and grow atmarketplace by improving their business practices. This encompasses with high amountof funding as per small business enterprise but it is proved as worth due to effectiveoutcomes after transforming company into digital working environment. In TelecomPlus, it is most important and beneficial for the growth and development of the companybecause in current time most of the organisation use advance technologies so that theycan make improvement in their business and it is helpful for the growth of the firm.2

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