Planning for Growth Assignment - R&R Catering is being undertaken in this assignment.
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Added on 2020-10-05
Planning for Growth Assignment - R&R Catering is being undertaken in this assignment.
Added on 2020-10-05
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse key consideration for evaluating growth opportunity..............................................1P2 Evaluate growth opportunity by implementing Ansoff's growth matrix...............................4TASK 2............................................................................................................................................6P3 Potential sources of funding available for enterprise and its advantages & disadvantages...6TASK 3............................................................................................................................................7P4 Design a business plan for growth.........................................................................................7TASK 4..........................................................................................................................................10P5 Assess exit or succession options for small business and its advantages and disadvantages...................................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONPlanning is an important part for every company as it play a very main role foraccomplishing all the business activities properly. It will assist in determining policies accordingto market situation (Planning for growth, 2017). Accomplishing all the activities as per policieswhich are made by firms for achieving goals and objectives. By using advance technology, thecompany will be able to deliver innovative services and simultaneously enhance operations ofan organisation. R&R Catering is being undertaken in this assignment. It is an organisationknown to be provide food and catering services in market of United Kingdom. It will aid inproviding fast services to their customers in an effective way for the growth of enterpriseactivities.In this report it involve the business plan for the enterprise success and growth. Alongwith this key consideration for evaluating growth opportunity by using competitive and externalanalysis . Their are various different sources of funds which are adopted for raising more fundsfor accomplishing business operations properly. TASK 1P1 Analyse key consideration for evaluating growth opportunityIn this changing environment, each company wants to gain better competitive advantagesfor making a business successful within the market for a long period (Barbour and Deakin,2012). An assessment of internal pitfalls and potential in the enterprises for enhancing successchanges and make a informed decisions. Supervisor need to find out opportunities for the growthwithin the market by using several tools and tactics. R & R Catering is grabbing an opportunityfor providing lunch time services in St Michael's Church School. Some more ways of finding outgrowth opportunities for targetting market by using two tools and tactics which are as follows:Competitive analysis: It is an important part of making a business plan. By this, company canintroduce a innovative dishes by which they will make their food different from others. Thisanalysis will show how workers can able to achieve the growth opportunities. Management needto evaluate its rivals. Resources: This company owns talented and skilled workers with high experience which arebeneficial for the organisation. As they are using innovative ideas for increase buyerssatisfaction.1
Capabilities: This organisation is expertise in giving the advertisement on social media, TV,radio and print media which aid them in communicating with targeted customers. Core competences:R & R Catering is giving its services at cheaper rates with its quality whichaid them in beating its rivals and attracts higher number of buyers (Brinckmann, Grichnik andKapsa, 2010). Porter's Generic ModelR & R Catering is using this model which will assist in showing alternative approachesthrough which competitive advantage in the operating market could be achieved.. This modelreflects the choices made in the context of growth opportunities. It is divided into 4 parts whichare as follows: (Source:Porter's Generic Model, 2017)Cost leadership: This strategy is based on increasing profits through cutting cost at thetime of charging average cost of R & R Catering. Various firms adopt this strategy withthe purpose of raising market share by reducing cost along with this they are still earning2Illustration 1: Porter's Generic Model
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