(Solution) Planning for Growth- Assignment
16 Pages3962 Words97 Views
Added on 2021-02-22
(Solution) Planning for Growth- Assignment
Added on 2021-02-22
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Planning for Growth
Table of ContentsINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P 1 Key considerations for evaluating growth chances and justify these within anorganizational context.................................................................................................................1P 2 Opportunities for growth implementing Ansoff's Growth matrix........................................3LO 2.................................................................................................................................................5P 3 Possible sources of funding and discuss advantages and disadvantages..............................5LO 3.................................................................................................................................................7P 4 Business plan for growth involves financial information and strategic goals for scaling upbusiness. .....................................................................................................................................7LO 4.................................................................................................................................................9P 5 Exist and succession option for small business advantages and disadvantages of eachoption ..........................................................................................................................................9CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONPlanning is the important to any business throughout their existence. It is necessary tosmall business for identifying the growth opportunities as well as planning for development ofthe business (Mason, 2015). This study is based on the “Change Please”. It is the London -basedsocial enterprise and coffee chain. Report will analyse key considerations for evaluating growthchances and justify these considerations within company context. It will evaluate growth chancesby implementing Ansoff's Growth Matrix. Furthermore, assignment will assess the possiblesource of funding and discuss their benefits and drawbacks. It will design the business plan forgrowth which involves financial information and strategic objectives for scaling up the business. LO 1P 1 Key considerations for evaluating growth chances and justify these within an organizationalcontextCompetitive advantages: It is the concept which enable company to exceed their challengers. Competitiveadvantage is attribute of foundation of growth. It can involve access to natural resources likehigh skilled labour, large entry barriers and access to new technology (Pugalis and et.al., 2015).For that,“Change Please” follow the porter's generic strategies to determine and evaluatecompetitive advantages as growth opportunities for the business.Porter's Generic Strategy: It is business strategy which can be followed in terms of earn competitive edge. Thestrategies relate to level to which scope of activities of businesses. The main strategic challengefor business is to discover mode of accomplishing sustainable competitive advantage over thecompeting goods and company in the market. There are three generic strategies such as costleadership, differentiation and focus. These approaches are implemented at the business unitlevel. Cost Leadership Strategy: This kind of generic strategy refers to be the low cost producer in an industry forprovided level of quality. Company like Change Please sells their goods like coffee either ataverage prices of industry to gain larger profitability or below the average of prices in industry toincrease the market share (Porter's Generic Strategy, 2010). Some modes by which company get1
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