Planning for Growth of Brooklands Hotel : Report

Added on - 21 Jul 2020

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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analyse key considerations for evaluating growth opportunities and justify theseconsiderations within an organisational context.....................................................................1P2 Opportunities for growth applying Ansoff’s growth vector matrix..................................3TASK 2............................................................................................................................................5P3 Potential sources of funding available to businesses with benefits and drawbacks of eachother........................................................................................................................................5TASK 3............................................................................................................................................7P4 Business plan for growth that includes financial information and strategic objectives forscaling up a business..............................................................................................................7TASK 4..........................................................................................................................................10P5 Assess exit or succession options for a small business with benefits and drawbacks of eachother......................................................................................................................................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONPlanning is an essential element which enable an organisation in its development. Growthcan ascertain by preparing an appropriate plan network under which every pro and con getdetermine in an appropriate manner. This factor is supportive in nature in long term contextthrough which chances of operating business and gain success become easy. Planning for growthis useful for every small business enterprise whom want to enhance consideration at global or awide level (Barbour and Deakin, 2012). This planning growth will directly support in makingbusiness activities proper and efficient in nature as well. Brooklands Hotel are going to usedigital technology through which business can establish themselves at vast level. Hence, in suchconsent analyse the key consent which enable in performing things in an appropriate manner.Along with this, Ansoff Matrix enable in will usually use by an organisation in order to expandthe market. Moreover, firm have to determine all resources which support them in allocateappropriate money as well. All these things are helpful in making the business expand to all overthe world.TASK 1P1 Analyse key considerations for evaluating growth opportunities and justify theseconsiderations within an organisational contextGrowth and development is a major concern towards every business associationwhich have to take in account by management. The expansion is an only thing whichenable an association to grow and expand business at vast level so that chances ofgenerating more and more revenue become easy (Beatley, 2014). Growth is a risk but it isa duty of managers to prepare right strategy which enable stability towards a business.There are various number of considerations are identifying which have to take in accountby every association and their management for gaining growth and development:Turnover: Business have to analyse their sales which are taking place within aperfect time frame. This factor is helpful in measuring the growth of a businessthrough which chances of ascertaining goals become easy. Evaluation of growthopportunity get done through maximising the turnover of a business within periodof time.1
Market share: Another major consideration which enable a company in evaluatingtheir business growth is market share (Chen and et. al., 2014). Market share of anassociation will only get rises with producing and delivering more quality basedproducts. Market share of a company reflect upon value of an organisation incomparison with other competitors.Profitability: Every business has a major objective which support and help ingrowth and development which is revenue. Every business association have toproduce high quality products when they are dealing at global level through whichmore number of customers get attract towards them as well as their profitabilityalso get enhance.Staff: With expansion of a business, a major thing which require most is staff.Management have to recruit some high knowledge professionals which directlysupport in producing quality based products and services. It is essential for everysmall or large concern to provide jobs to only such number of people whom havecapability to deal with every consent.Advanced technology: Every business association have to use new and advancedtechnology so that appropriate and high standard products and services will getmanufacture. This enable them in making things corrective in nature and alsosupport in gaining competitive advantage to a business profile.Brooklands hotel are the small hospitality service provider in UK whom want to expandtheir business operations and for this relation, they have to conduct a market research andidentify the use of digital technology use in such business expansion (Eddleston and et. al.,2013). They can use social media, and digital advertisement process which facilitategrowth through reaching wide range of customers around the world. Following is a basicinformation about an organisation which have to take in account in an appropriate manner:1.Mission: “To provide a superior service to clients through enthusiasm, empathy,original character, involvement, commitment, creativity and elegance.”2.Vision:To continue to 'Make it Happen' through our Brooklands ethos, therebylooking after our guests, team and investors.”2
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