Learning for Business Plan : Report
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Added on 2020-06-04
Learning for Business Plan : Report
Added on 2020-06-04
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PLANNING OF GROWTH
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key consideration for evaluating growth opportunities and how it impact on chosen SME.1P2 Opportunities for growth of the business through applying Ansoff matrix............................3TASK 2............................................................................................................................................5P3 Potential sources for funding and discus its benefits and drawbacks ....................................5TASK 3............................................................................................................................................7P4 Business plan for growth that involves for financial information and strategic objectives....7TASK 4..........................................................................................................................................10P5 Exit or succession option for SME explaining benefits and drawbacks of different options....................................................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONPlanning consist very important role in success of every business. It includes severalelements that help to make business creative. Hence, sustainability can be made with long termobjectives and goals. Further, planning also consist systematic application of different activitiesthat are necessary through consist psychological aspects and concepttual skills (Whelpton,Campbell and Patterson, 2015). In this context, present report based on the Qbic hotel which isthe small sector of the UK and provides different kinds of hospitality services. Further, they arealso develop their operations and functions through ascertain future opportunities in theorganisation. As results, effective functions will be made to develop the target. For gaininginsight knowledge of the company, present report covers learning for business plan that need tobe carry in the selected organisation. Furthermore, it include assessment of sustainableopportunities that are required to create proper functioning in t. Moreover, it developsunderstanding for the several options that are available to SME sector businesses for exit andsuccession as well. It also assists to the enterprise for continuous improvements for long termbenefits and objectives as well. TASK 1P1 Key consideration for evaluating growth opportunities and how it impact on chosen SMEQbic hotel is the hospitality industry which develops their operations and functions throughmaking certain innovations in the business. In this aspect, business use different tools andtechniques that assist to make effective results. In this aspect, development can be made forinnovative products and services. It assists to ensure that the organisation have better ideasfor their performances and that are suggested by the customers to implement betterpractices. Along with this, collective working also promoted at workplace of the chosenbusinesses to make productive outcomes. Hence, it improves overall performances of Qbicthat is needed to accomplish tasks and objectives. In order to focus on the continuousdevelopment of business practices, collective working of the employees also needed thatestablish goals and objectives in significant way. These types of practices at workplace alsoimpact on the work efficiency in the desired manner (Mahmoudi, Hatton MacDonald andVan der Hoek, 2013).1
Along with this, the chosen company also refers media agency in their business to enhancework performances in effective manner. As results, work will be done as per the partner needsthat enhance profitability in it. At workplace of Qbic hotel 84 employees working within theorganisation that assists to develop effective functioning in it. It defines that the organisation alsohaving focus on accomplishment of the employee needs therefore, better opportunities will bedevelops at workplace. Further, it can be stated that there are number of innovative functionsdeveloping that are organised to create social awareness (De Roo, 2017). At Qbic hotel one ofthe best campaigns has been organised that is entertainments for the customers who are visit thehotel. Therefore, it can be stated that advertisement activities in the selected hotel assists topromote operations and functions. They are also promoting to work with agencies, customersand media partners as well. Therefore, approaches have been develop to make plan within thebusiness. Key consideration for business growth and opportunities which includes followingelements:Competitive advantages: In respect to make high growth and opportunities in Qbic hotel,the company need to ascertain effective elements through attain competitive advantages. In thisway, unique features need to added in products and services of the chosen business to attainmore profits and revenue. Market development: The selected business need to focus on their market which assiststo develop their performances and objectives in systematic manner. It is the best way to ascertainadvantages and goals at workplace. Product development: Further element to create growth and opportunities is productdevelopment that assists to make effective results at workplace in systematic manner. It is thesystematic review process in which Qbic hotel able to deliver growth and opportunities withcreating innovations at workplace. Franchise: In respect to create more revenue and profits, the chosen organisation has alsoopportunity to open a new franchise and create effectiveness at workplace. In this way, newbranch will be considered that assists to develop operations and functions in new areas. Merger and acquisition: When the company enter in new areas, they need to assessstrategy to develop their profits and revenue at workplace. In this way, the company hasopportunities to merge their operations which create development of the Qbic hotel. 2
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