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(Solution) Planning for Growth Opportunities – Assignment

   

Added on  2021-02-20

19 Pages5503 Words17 Views
Planning for Growth

TABLE OF CONTENTS1.0 INTRODUCTION.....................................................................................................................12.0 EXECUTIVE SUMMARY.......................................................................................................13.0 KEY CONSIDERATIONS FOR EVALUATING GROWTH OPPORTUNITIES ANDJUSTIFYING THEM IN ORGANIZATIONAL CONTEXT.........................................................13.1 Porter's competitive strategies..........................................................................................23.2 P.E.S.T.L.E. analysis for achieving growth.....................................................................2Evaluating growth opportunities by using Ansoff's growth vector matrix-...........................34.0 SOURCES OF FUNDS AVAILABLE TO BUSINESS , BENEFITS AND DRAWBACKS.54.1 Personal Investment..........................................................................................................54.2 Banks and Financial Institutions......................................................................................64.3 Venture Capitalists...........................................................................................................64.4 Angel Investors.................................................................................................................7Business plan for growth including financial information and strategic objectives for scalingup a business...........................................................................................................................7Exit option for small business and positive and negative aspect of each option..................10CONCLUSION..............................................................................................................................12RECOMMENDATIONS...............................................................................................................12REFERENCES..............................................................................................................................13

1.0 INTRODUCTIONPlanning for growth is an economic activity that is adopted by businesses f\of all shape andsize to keep a track of their organic growth and revenue. After certain trigger events, everybusiness prepares a growth plan. This helps them to prioritize their resources and take correctiveactions accordingly. Alignment of growth plan with the present organizational structure willensure correct implementation and the firm will grow by leaps and bounds. Companies aim togrow well in the market and for that they have to make effective strategies that may support themin gaining success in market. Growth planning must be done by considering actual position ofenterprise.Present study is based on Tiles and Stones Depot is a United Kingdom based firm thatmainly deals with production and trading of tiles. Goal of company is to design good qualityproducts and deliver excellence services to end users. It has all range of products and also Onyxand Schluter are provided to consumers on special order. It is a small scale enterprise but holdenough potential for growth. Purpose of this study is to identify growth opportunities for small business and find suitablestrategy that are helpful for the development of business unit. In this report evaluation of growthopportunities of Tiles and Stones Depot is done. furthermore, potential sources for finance arediscussed in this report. and lastly prepare a business plan, so that the company can achieve itsorganizational goals efficiently and effectively. Basically, the report has emphasised on practicalaspect of learning and implementing growth opportunities.2.0 EXECUTIVE SUMMARYGrowth planning plays significant role in success of small companies. Report discussesabout various consideration aspects economic element, technological aspect that may affectgrowth of the firm. Furthermore, study highlights funding sources for Tiles and Stones Depotcompany. It produces business plan which may help the small business growing well in market. 3.0 KEY CONSIDERATIONS FOR EVALUATING GROWTHOPPORTUNITIES AND JUSTIFYING THEM IN ORGANIZATIONALCONTEXTThe ultimate goal for every organization is to achieve growth. Be it small, medium, largescale company, everyone wants to grow profitably. Growth in business is a complex process but1

it can be achieved by proper planning and controlling, Some key considerations for evaluatinggrowth opportunities are-3.1 Porter's competitive strategiesCost leadership- If a small or medium scale enterprise wants to achieve competitiveleadership then it is mandatory for the organization to indulge in low cost production. Itcan be done through achieving economies of scale, use of better technology, bulkpurchasing and exploiting all other potential sources of cost advantage. Tiles and Stonedepot enterprise has mastered the technique of cost leadership and this is helping them intransforming into large scale organization. Tiles and Stone Depot Company has toconsider cost factor while evaluating growth opportunities. This element will helpcompanies in sustaining in new market significantly.Differentiation- Differentiation strategy basically aims towards a firm adopting someunique technique that will help them in achieving competitive advantage. Tiles and StoneDepot adopted some unique technique which is of importance to the consumers and ithelped the company in achieving growth. Tiles and Stone Depot Company shouldconsidered differentiate aspect, as it has to offer unique products and services so that firmcan satisfy needs of mass audience and can gain attention of people. This would be betterin gaining more opportunities in international market.Focus- Focus strategy is a wide term and it is divided into two aspects-Cost focus- In cost focus, Tiles and Stone Depot aimed towards achieving cost advantage for itstarget customers. It should consider cost aspect to gain advantage in Newmarket and makingconsumers loyal towards the brand.Differentiation focus- In differentiation focus, a firm seeks to differentiate in its targetcustomers.3.2 P.E.S.T.L.E. analysis for achieving growthPolitical factors- The government policies have always impacted small and medium scalefirms. The impact can either be direct or indirect. Taxation policy, subsidies, rules &regulations and export-import duty are some factors that have deeply impacted small andmedium scale businesses. Tiles and Stone Depot Company should consider politicalconditions while evaluating growth opportunity in new market. This would be helpful inmaking correct strategy to minimise risk of failure into new market.2

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