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Strategic Planning for Growth

   

Added on  2020-10-22

18 Pages4609 Words125 Views
Planning for Growth

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INTRODUCTIONPlanning for growth plays necessary function for both small and medium enterprises forexpansion of business for increasing the profitability ratio. It is important for the top levelmanagement to conduct effective market research for finding out the information related todifferent marketing opportunities. The present report is concerned with New Car Deals which isfamily business based in Horbury. This company offers efficient, friendly and professionalservices to their customers and take care of the customer's after and before the sale. This report isbased on important considerations which are related to porters generic model, PESTLE analysisand Ans-off matrix for evaluating growth opportunities (Allmendinger and Haughton,2012).Further, for expansion of business various funding sources are need to be analysed as executivesof SME's are having shortage of capital. Along with this, various succession and exit options forsmall business organisation are need to be analysed by the business associates which arediscussed in the report. TASK 1P1 Analyse key considerations for evaluating growth opportunitiesNew car deals is a UK based small family run business which is based in Horbury.Company is situated close to the city of Wakefield, West Yorkshire, UK. As company isoperating at small scale, it is not exposed to wide market but company is known for itsefficient, professional and friendly services to its clients. New car deals not only considerthe preference and expectations of customers before and during sales, but company alsogive their sincere efforts after sales also. This helps them in sustaining a positive imagewithin market place. At present, company is dealing in only van businesses but due to itssuccess and popularity, owner of company is planning to introduce specialised commercialvehicles. To work in a systematic manner, company has developed a new website andplans to shift to a large office (Berger and Berger, 2011). Other than that company isplanning to open new small shops so that customers can easily assess their services. Inorder to evaluate growth opportunities in a desired manner, business owner of New cardeals can take help of porter generic model and for analysing external environment ofmarket, PESTLE analysis can be used. 1

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