Planning for Growth: Analyzing Considerations and Opportunities for Speedboard Assembly Services

This document discusses the key considerations and opportunities for growth in the context of Speedboard Assembly Services. It analyzes the Ansoff growth matrix and various analytical frameworks for planning business growth.

Planning for growth

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Analyse key considerations evaluating growth and opportunities in the context of
organisation............................................................................................................................3
P2 Identify the growth opportunities by using Ansoff growth matrix...................................5
M1 Discuss the growth using wide range of analytical framework.......................................7
P3 Define the potential source for the company and discuss its benefits and drawback.......7
M2 Identify the potential source of funding in the context of organisation........................10
P4 Design the business plan.................................................................................................10
M3 Evaluate the potential source of and provide justification of adoption of appropriate
source of funding..................................................................................................................12
P5 Critical evaluation of the various exist or succession options for business....................12
M4 Evaluate the exit and succession plan for SME.............................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................13

INTRODUCTION
For the success of the business, it is crucial and necessary to an organisation to make plan
so that the business of the company can run and operate in successful manner. For the growth
and development of the company, the management devise various plan related to strategies, tools
and techniques etc (Atwood, 2020). At present time, it is very difficult to provide satisfaction to
customers needs and demand by offering goods and services as per their requirement and set a
good position in the market to gain competitive benefits. Growth and development is an essential
factor and it is an effective business action which assist business owners to make plan. This
written document is based on Speedboard Assembly Services Ltd which offer electronics
manufacturing services. This firm was established in 1983 and headquartered in Windsor, UK.
There 75 employees who are making their contribution in running the business of this company.
TASK 1
P1 Analyse key considerations evaluating growth and opportunities in the context of organisation
Growth and opportunities are known as the essential aspect for organisation to achieve
the desirable goals and objectives in a well define manner. The main advantage of growth is that
business can endure the rivals and can sustain for longer time period (Barbour, 2020). Further
this is essential for the company to identify the internal and external environment and utilize the
resources effectively to maintain in order to maintain constant growth and development. In
Speedboard assembly service there are various growth opportunities which manager should
figure out and challenges issues in the detail manner effectively.
Porter's Generic strategies
Porter suggested four "generic" business strategies that could be adopted in order to gain
competitive advantage. The strategies relate to the extent to which the scope of a business'
activities are narrow versus broad and the extent to which a business seeks to differentiate its
products. In the context of Speedboard assembly services management must use such model to t
figure out the best possible outcomes for the company. Here are some steps which are explained
below:
Cost leadership: This is consider as traditional method which help in achieving desire
aims and objective. The prime focus of the company is to expand and explore the business to
earn more profit effectively.

Cost focus: Here the company seeks the lower price as to compete in the market
segment. The product offer by the company must use affordable price services as to expand and
explore business effectively.
Differentiate focus: In this method company like Speedboard assembly have to focus on
diversifying the product and services as this tent to tap the larger market as per the need and
requirement of user (Pickett and Angeoletto 2020). Differentiation focus is the classic niche
marketing strategy. Many small businesses are able to establish themselves in a niche market
segment.
Leadership: It is crucial for the company to have effective leaders as this help firm to
motivate employees to achieve common goal and meet the expectation of the firm. This is
mainly associated with charging high price from the users as to earn more revenue.
Pestle analysis:
Political factor: This is factor include government rules, legislation and policies which
directly effect the business. The present political environment of UK is stable which is beneficial
for Speedboard assembly services to sustain for the longer time duration. Apart from this firm
can take help from government for improving there financial condition effectively (Cabral,
2020). The company can improvise there production and operation by using free trade policy by
the government. Along with this, management of Speedboard assembly service should makes
changes as per the government rules and policies for smooth functioning of the company.
Economical factor: This economical factor consist of fiscal policy, inflation, GDP and
per capita income of people. The economical condition of UK is good as people have high per
capita income which provide firm larger market share. People have more spending power which
increase the profitability and sales. Due to Brexit there the organisation has vast impact which in
result aims for the slow down of the firm. In order to minimize the unfavourable condition of
recession the entity can make changes in there current policies as well as strategies to avoid
recession.
Social factor: This encompasses the taste and preferences of various age group people,
gender, age and background. In today world the need and wants of the individual changes
frequently so company should identify the change and make alteration for fulfilling the needs
and wants of the customer (Das and Dahiya 2020). For Speedboard assembly service this is

crucial for the management to understand the background of the consumer and market which
help in capturing the market and firm can create a brand image for the longer time duration.
Technological factor: This is known as the essential aspect for the company as
technology have the changed the face of doing business. Today different company are using
advance technology such as AI to handle the market and to improve the way of doing business.
In the context of Speedboard assembly service management should implement new technology
because it help in improving the efficiency constantly. Further for promotional activities
organisation can take help of technology which include social media and other advertisement
tool for promotion.
Environmental factor: This factor consist of those components which include different
elements which are directly link with environment. It include pollution act, carbon emission and
waste management policies. Firm has to take effective measure and follow all kinds of rules and
regulation to reduce environmental waste present in the surrounding. For the organisation like
Speedboard assembly service has to focus on waste management for better of the society. In UK
there are different kind rules are made such as environment act 1995 which help in providing
protection and safeguard to the organisation(Dykusova and Golovina 2020).
Legal factor: This covers all the laws such as international trade laws, tax policy and
consumer protection act which provide protection from unethical practises present in the market.
In regards of Speedboard assembly service the administration have the responsibility to
implement all the laws which are essential for administration and for people. Further it also
minimize the risk of theft as most of industry use unethical practises to avoid tax. So in this
scenario legal laws prevent such practises present in the market.
McKinsey model:
This model has been widely used by the different organisation for planning the
organisation to achieve the desire goal and objectives effectivelyv(Karve and et., al., 2020). For
Speedboard assembly service this is crucial for the organisation to develop proper planning
which is essential to make effective decision for maximum profit.
Strategy: This is consider as the plan which is created to achieve sustained competitive
advantages to successful compete in the market. For the organisation like Speedboard assembly
service it is crucial for the firm have proper strategy which must be reinforced by strong vision,
mission and the values. Apart from this, entity should look after strategy, structure and system

for increasing the productivity of the organisation. The management of the company have
effective strategy like targeting the market and focus on the limited customer because this will
help-and-advice firm to increase there customer base effectively.
Structure: This represent the way of business division and the units are organised which
provide information regarding the flow of information. Further Speedboard assembly service
management should use proper structure in order to maintain constant flow productivity as well
as work effectively. Management of the company should develop proper flow chart and follow
hierarchy to improve productivity of the entity. Apart from this firm can use formal structure as
this will aid firm in timely offering the services to consumer. However formal structure also
improve the flow of information within the organisation which lead to improve efficiency and
productivity.
System: This is the process and procedures of the company which describe about the
activities and decision made by the organisation (Khakee, 2020). Speedboard services
management can make changes in their management and production system as this will improve
the operational activity of the company. It help company improve the product efficiency
regarding the product and service. Using a systematic approach also allows you to meet the
expectations of your clients. It also makes knowing the strengths and weaknesses of an
organisation more conveniently track the activities of employees.
Skills: It is the ability which employees should perform effectively to improve the
performance of the company. The manager of Speedboard assembly services should provide
proper skill and development training to the employees in order to improve the quality and
productivity of the company. This includes proper communication skills and building better and
strong relations. Developing an understanding of people around us is very important. Hence this
also create better brand image in the minds of customer.
Staff: This include analyses of employees who are working in the organisation and which
kind of workers are needed in the organisation .HR of Speedboard assembly have the
responsibility to recruit, trained and reward the employee for betterment and growth.
Share valued: This include different norms and standard which guide employees
behaviour and the company action (Jeong and et. al., 2018). It is important for Speedboard
assembly service to maintain the brand image by creating positive culture in the organisation.

P2 Identify the growth opportunities by using Ansoff growth matrix
Ansoff's Growth Matrix
This matrix was proposed by H. Igor Ansoff who was applied mathematician and
business manager. This is a strategical tool used by many marketers and analysts to understand
and analyse the threats or risks in view of growing business (Mazzarol and Reboud 2020). It is
also known as Product/Market Expansion grid which helps in portraying different corporate
expansion strategies focuses on company's current and potential products and customers. There
are four product-market mix emphasizing on ways to expand by offering existing or new items
and in actual or brand-new markets. These strategies can be understood in context with
Speedboard which explained below:
Market Penetration: The focal point of this approach is on increasing sales of current
goods in existing target market in order to expand market share. There are various mode to
penetrate such as declining the prices to attract new customers or retain the current consumers,
by developing unique promotional/distribution efforts and by upgrading production capacity
(Mobin and Hijawi 2020). Speedboard is an organization which deals in different key sectors
including aerospace&defence, transport, safety&security, communication and more. In order to
capture high market share and sustain current position, firm will use this technique through
offering low priced products to retain its current customers and create strong marketing channels
like promotional-distribution activities by making tempting deals with their suppliers.
Product Development: This strategy focuses on developing new goods with unique
features to serve newly emerging demands of existing markets. This approach is suitable for a
business where the item needs to be distinct and separated from its competitors(Jeong and et. al.,
2018). It involves the expansion of product range and this mechanism is used when the marketer
has deep knowledge of its current market segment and are capable of providing innovative
goods/services to satisfying the needs of existing buyers. Speedboard Assembly service Ltd is a
leading electronic manufacturing firm and for developing new products it needs to invest in
research&development programs to analyse the demands of existing customer and proper
understanding regarding the competitor's moves, products in order to come up with inventive
goods. Mangers can also maintain strategic partnerships with other entities so that they have
access over the resources, information and other marketing channels.

Market Development: This strategy used when the business owners are planning for
tapping in the new market segments with its existing products. There are numerous ways for the
firm to enter the new segments via tapping new domestic or foreign markets (expanding
regionally or internationally), through unique packaging elements, creating distinct pricing
policies and supply chain networks(Mobin and Hijawi 2020). In case of Speedboard, the
company can expand its potential business by tapping other geographical markets like Europe,
China, Germany where they can serve different customer segments which increase company's
core competencies.
Diversification: This approach is used when firm wants to enter into new markets with
new diversified products (Monstadt and Meilinger 2020). This strategy contains uncertain risks
because the business has little or no knowledge and experience about market and its target
customers. This technique of growth is a mixture of both product and market development
strategies. Diversification strategy for growth can be used when firm is ready to bear high risk in
order to gain high returns. Company can choose from two diversification strategies Related or
Unrelated. Related refers to entering new market with new item which is similar to the firm's
current offering where as unrelated product diversification is completely different from the
existing offering. Speedboard diversified its products by making use of related strategy entering
with similar items with modified features to keep its goods innovative in terms of offering it to
separate customer base and build its position in different countries.
M1 Discuss the growth using wide range of analytical framework
In order to identify the growth rate Speedboard assembly service must use different kind
analytical framework for having constant growth. This is consider as the most widely tool used
to by organisation to identity the growth rate effectively (Pickett and Angeoletto 2020).
Management of Speedboard services use McKinsey frame to figure out the internal activities and
improvise the polices which tend to increase market share in a decent manner. Apart from this,
administration can use pestle analyses for knowing the external environment and make changes
accordingly for the smooth functioning of company.
P3 Define the potential source for the company and discuss its benefits and drawback
Sources of funding-
It refer to finance that a company needs to expand or grow their market. The most
important think is to be need cash for purchases new capital, assets, stocks, hiring more people

and furnishing new entity etc (Kirshin, 2018). for rapid growth. Finance is needed in every
reasons i.e. expanding association, research and development, operating expenses etc. The
important source of finance for growth and expanding an enterprise are described below:
Bank loans-
It is the most commonly used term in source of funding because an enterprisers are
aware about this term and feel safe in borrowing the money, which means to lend a definite
amount of money from bank for a certain period of time at some interest rate (Kim and Kim
2019). For which bank require some type of securities like collateral i.e. in the form of holding or
a personal sponsor. It is an agreement between the borrower and the lender that the amount
which is borrowed will be repaid in future with some fixed amount of interest. This type of loan
is good for financing fixed assets like land, building and plant which is organized to meet the
business needs.
Advantages: The main advantages of this type of loan is that they are flexible in nature.
They do not give a set of rules and regulation that how to spend money or in what area. An
enterprise spend money where it wants to be such as purchasing new equipments, expanding,
entering in the new market etc. Low interest rates- Bank charges low interest rates as compare to
other types of loans so an organisation borrow money to banks because the interest rate will find
low as overdrafts.
Drawback: Major drawback in bank loan is that they are very time consuming and
complicated because it require many paper work and sometimes it cant be understood by an
individual (Johansson and et., al., 2017). Tough to qualify Banks only give loan facility when
they assure that an organisation repay it on time.
Crowdfunding-
It refers to a funding for a project by raising money from a maximum number of people
and they all contribute a little amount for an organisation via social media (Kim and Kim, 2019).
Crowdfunding done by using internet where many investors meet to invest a little amount in a
particular project. Here investors and entrepreneurs come together to expand or grow an
organisation. In this method there are restrictions regarding hedge-fund investing to protect an
enterprise from non- rich investors who invest their large sum of money at risk. It was a great
opportunity to raise funds with numbers of investors.

Advantages- This doesn't require any special qualification to start a funding campaign,
within an hour a borrower and investors connect each other on the page outlined. Here an
enterprise doesn't need to explain our project plan and idea. Valuable form of marketing It
attracts number of people through marketing strategies they follow after a page is established
(Maghfiroh, Subchan and Iqbal 2017).
Disadvantages- If an organisation have not protected the business expansion thought
with copyright or patent than anyone can crepe a concept because it is done via internet, which is
not good for an organisation. Affects future financing When a crowdfunding request fall shorts
it will save for the lifetime on that page after that a business will not generate cash from this
source.
Peer to peer lending-
It is the modern process of lending money through individuals directly without involving
any financial institutions. It is a good idea to lending out money for saving purpose i.e. if a
person invest money in it they will get a higher return and who borrow money they will get funds
at low interest rates.
Advantages- Higher returns to investors The main advantage of this is that they provide
maximum returns who invests their money into it relative to the other sources of finance.
Attracts lenders- if a borrower politely request, maintain proper monetary data may helps in to
attract more investors.
Disadvantages- Exhausting choice there are many lenders available to invest money in
the project this will confuse the borrower in choosing and deciding and its very difficult to
choose a genuine lender.
No guarantee- in this type of funding there is no assurance that the transfer of funds taken place
or not in an account of the borrower.
Angel capital –
These are the expert enterpriser who provide money to the borrower with high growth
prospects. Angel investors are typically single who have spare cash accessible and are looking
for a higher rate of return than would be given by more conventional investments (Kirshin,
2018). An angel capitalist typically looks for a return if the organization earn more profit.
Advantages- It is less risky because in this a borrower cannot paid back the amount if the
business is failed. Angel investors fill in the gap between the small-scale financing provided by
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family and friends and venture capitalists. They also provide funds easily to expand the business
and to make more profit.
Better chance to find success- in this the experts totally involved in a business and provide a
guidance how to increase an organisation profits.
Disadvantages- here an investors take full control over the money they invested and
sometimes they behave rudely. The primary disadvantage of using angel investors is the loss of
absolute control as a part owner (Maghfiroh, Subchan and Iqbal 2017). Your angel investor will
have a say in how the enterprise is run and will also receive a part of the profits when the
business is sold
M2 Identify the potential source of funding in the context of organisation
Evaluation is the important process to identify, analyse the best source of funds. There
are many ways, where an organisation takes financial help. Entrepreneur evaluate different
sources of funds and select the best alternative out of that. This is the major task which is
followed by a company to generate a funds from the best sources. In context of Speedboard
there are various sources of funds that can be evaluated below:
Bank loan is the common source of funding because they are flexible in nature. If a
Speedboard company take loans from the bank for their expansion and growth they did not give
the details where an amount invested and the bank charge low interest rates. Crowdfunding is the
internet based where an organisation lends money trough social media. Here, a company
generates funds very easily but sometimes the information regarding business project may
leaked. That why, Speedboard is not using this source in generating funds. Peer to peer lending is
that where individual professional invest money which is same as crowdfunding. Angel capital is
the best source of generating funds for a organisation because there is no repayment policy is
followed when an organisation failed and they also find experts who guides in increasing the
profits and growth of an organisation.
P4 Design the business plan
A business plan is consider as the road map which provide directions so the business can
plan its future and help to avoid risk and uncertainty present in the market. The plan should
include general guidelines regarding from the scratch to completion of the project. Further this
include different segments and address the all the question of the people effectively. In the
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context of Speedboard assembly service the firm is trying to expand its business across the
border and plan is required to increase the profit and productivity of the company.
Speedboard assembly services: The company was started in 2003 by Richard Watson
and Neil Owen and deals in various sector such as Aerospace, defence and transport. The
company is the leading European manufacturing partner with the international platform for
manufacturing electronic based products which usually require high technology and flexibility
through product life cycle.
Mission: The mission statement of the Speedboard assembly service is to provide high
quality product range to customers.
Vision: To operate and expand the business at the larger scale and create the value by
considering consumer as the partner.
Area of strength: The company is one of the well known brand in the European market
which provide high end products to the consumer (Şahin and et., al., 2020). The another area of
strength for the company is there after sales services which aid firm to capture the large market
share and also create a brand image in the market. Beside this firm had sustainable business
model which separate the company from the industry dealing in similar product line.
Identify opportunity: There is vast option available for the company such as
diversification which tend to improve the customer base and sales for the longer time duration.
Further the company use different promotional activities such as internet promotion which able
to attract more customer base in lesser time. However firm can expand there business
internationally which able to capture untapped market effectively.
values and ethics: The company is committed towards solution oriented and offer a
stimulating working environment for employees. Firm has always proactive approach which is
consider as the essential element is ethics which endeavours professional business along with the
clear vision to achieve organisation goal. The core value of the company is to focus on quality
which increase loyalty and profitability effectively.
Source of Finance: There are different sources of finances which organisation can use
such as bank loan, angel investors and crowdfunding for expanding the business in effectively
manner (Portugal and et., al., 2020). For Speedboard assembly services this is vital for the
company to chose the best source as per the need and requirement of the company. On the other
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hand Bank or loan from the government institution are the best option available for the company
to expand the business.
Budget allocation: Budget planning is essential as it consist of gross sales value, revenue
and assets. Speedboard assembly services has to prepare the budget in the business operations to
make proper use of resources effectively. The main goal is to lay out all the important
components for the future goal.
PARTICULARS 6 months 6 months 6 months
Initial investment 12000 15000 18000
Borrowings(Bank loans, credits) 6000 7000 90000
Retaining earnings 7000 8000 9000
TOTAL 25000 30000 45000
MARKETING OUTLAY
Promotion activities 8000 10000 11000
Sales publicity 6000 10000 11000
Distribution and supply expenses 3000 10000 9000
TOTAL 42000 60000 76000
M3 Evaluate the potential source of and provide justification of adoption of appropriate source of
funding
The company can use several option for funding as this are the essential elements which
help in expanding the business (Tang, 2020). For SME company funds is consider as the
important element for going globally. The sources of funding include angel investors, Bank loan
and crowdfunding from which company can take loan for expansion and growth. The best
suitable option for the firm is bank loan as they charge less interest rate on the money and also
provide flexible repayment option for company.
P5 Critical evaluation of the various exist or succession options for business
There is different exit and succession plan which deliberated to execute precise decision
for the management (Srinivasan and Chattopadhyay 2020). The exit plan is the preparation for
the company for improving the enterprise value in the form of merger and acquisition or the sales
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of assets. The succession plan include those operation which turn out to profitable for the
company.
Winding up: This usually take place when the company is in loss and it is incapable of
making profit. It is connected to the procedures of selling or minimizing the assets which include
exchange of stock, pay off, creditors and the leftovers. Speedboard assembly require legal
structure and method for winding up.
Benefits: The major advantages of voluntary liquidation is secured by the company and it
also help in dividing the shareholder dividend in effectively manner.
Drawbacks: Depending on their dimension of service within a specific business, they
may be able to assertion statutory repetitiveness pay pursuing their dismissal.
Merger and Acquisition: This refers to the method where two firm comes together with
the same objective in order to attain the goal effectively (Johansson and et., al.,). This help firm
to capture market share without exploiting the funds. It is also the best possible technique for for
Speedboard for exit as it reduces the risk of loss and company can recover the loss effectively.
Benefits: The main cause of Merger and acquisition help firm to increase the market
share or size into new geographical location. Further company will have access to new
technology and risk also will be shared equally among the company.
Drawbacks: Major drawback of this method is that organisation can not take decision
individually which reduces the efficiency of firm in offering services. Further it leads to conflict
and chaos among department which in result create a negative impact in the minds of customer.
M4 Evaluate the exit and succession plan for SME
The exit strategy is know as the contiguous plan which is carried forward by the
organisation in order to liquidate the firm for loss (Zhang, 2020). This can be executed when the
business venture has met its profit. For the organisation like Speedboard assembly service firm
should use succession plan which help in creating conscious plan to dispose of the investment in
the business venture and financial assets. Apart from this company can use IPO or buy out
method for exiting the organisation effectively.
CONCLUSION
As per the stated report this has been devised that growth is essential for the company for
constant expansion. Furthermore, firm has to focus on the external environment which help in
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the smooth functioning of the company. Ansoff and McKinsey is implement in order to
understand the business environment and make changes for betterment. There are various source
of funding is available and bank loan is the best possible outcome for funding. Beside this,
business plan is crucial which help in minimizing the risk and theft present in the market. At last
the company must exit strategy which is beneficial for the company to reduce this risk of loss in
effectively manner.
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Online
Speedboard Assembly Services.2020. [Online]. Available Through:
<https://in.linkedin.com/company/speedboard-assembly-services-ltd>.
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