Planning For Growth And Business (PDF)
Added on 2021-02-19
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1LO 1) ...............................................................................................................................................1P1) Studying evaluation of growth opportunities and considerations within organization........1P2) Design a Ansoff's growth vector matrix in order to examine growth opportunities. ..........4LO 2.................................................................................................................................................5P3) Sources of funding available to businesses and their benefits and drawbacks.....................5LO 3.................................................................................................................................................6P4)_Frame a business plan for growth which covers financial information and strategicobjectives for scaling up a business in the marketplace. ............................................................6LO 4.................................................................................................................................................7P5) Assess exit or succession options for a small business explaining benefits and drawbacks7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONPlanning for growth can be stated as formulating business tactics so that organization cangrow and flourish in the international market effectively. By planning this company can attaincompetitive advantages over rivalry in the competitive world. Effective planning growth helpsthe organization to accomplish set objectives so that huge profits can be gathered. Firm planningfor growth aid the business to expand in distinguished sector which is a positive sign in the openmarket place. This report is based on Guildford tyre company which is a private firm in UK. Itcame into existence in the year 1976 and are successfully serving effective services to theircustomers. This assignment covers growth opportunities prevailing in the market place. Ansoff'sgrowth vector Matrix is studied so that market scenario can be better understood. Also, focus onadvantages and disadvantage of potential sources of funding (Ahmed and Bramley,2015).Moreover, design a business plan including financial and strategic objective in order to scale upbusiness. However, discuss exit and succession plan in order to better understand the concept. LO 1) P1) Studying evaluation of growth opportunities and considerations within organizationIn the cut throat competitive world small business are facing big challenges in capturingopportunities prevailing in the market. In order to survive in the market place organization andtop level management design strategies to bind customers with their services and goods. Bydoing so profits can be gained and gradually expansion can be done in the open market place. Inorder to bit the competitors Guildford tyre company design unique and innovative plan in theneck to neck competition so that set objectives and emerging needs, demands and preferencescan be fulfilled accordingly (Albert,2017). In order to grow succe4ssfully in the global marketdistinguished factors are studied which are discussed as follows: Competitive advantages: In this case it can be stated as circumstance in which business associates manufacturesame type of goods and services at cheap rate by using the resources effectively and efficiently.Here, Guildford tyre top level management is accountable to frame or formulate effectiveplanning of growth in the open market. By doing so best results can be achieved in theinternational market. By examining the market scenario planning for growth is done in order to1
gain competitive advantages. However, some of the planning for growth tactics are explained asfollows:Differentiation leadership: Guildford tyre adopts autocratic leadership in their workingpremises due to which skilled and potential employees can be retained back for longer timeduration. Adoption of this leadership styles aid the company to meet the desire goals on set timeframe in the competitive world (Angotti, 2018). Business associates depending on their type ofbusiness activity follow distinguished leadership styles in their working premises. Ineffectiveleadership prevailing in the business reduces the overall performance of the staff members.Whereas, effective leadership raises productivity and profitability at a large scale. Cost leadership: By adopting this planning for growth tactics in the organization bestoutcomes can be achieved in the set time frame. Guildford tyre company adopts penetration costleadership in their business so that huge market ratio can be captured. This strategies providehuge opportunities to the firm in order to raise market share in the market. In this case businessassociates provide high quality goods and services at a low price in the competitive world. Bydoing so potential customers is attracted towards the offering served by the company in theglobal village. Cost focus: Guildford tyre company is focusing more on cost focus of the goods andservices in the market place. In this case the services offered are at low price due to which moreand more customer base is increased for the goods and services. Also, company is able to createtough competition for others in the global market which is a positive sign for the businessconcern. Organization deeply scan the market scenario and accordingly design the price, place,customers etc.Competitive advantages with opportunities for growthGuildford tyre company scan external environment before entering into the new marketin the neck to neck competition prevailing in the open market (Bridge and Dodds, 2018). Bydoing so the chances of error reduces and best results are achieved in the time duration set. Inorder to accomplish competitive advantages against rivalry business concern conduct PESTEL(political, economical, social, technological, environmental and legal) analysis so that smoothfunctioning of the business can be carried out effectively without government intervention. Theexternal macro forces are discussed as follows: Political: In order to expand the business smoothly in the market political stability is2
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