Planning for Growth: Evaluating Opportunities, Funding Sources, and Strategies

42- Planning for
Growth

Contents
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Key consideration for evaluating the growth opportunities and justify the consideration in company.
.................................................................................................................................................................3
P2 Evaluate opportunities for the growth by application of Ansoff growth vector matrix.......................5
M1 Discuss option for the growth using frameworks to bring understanding of the competitive
advantage in organization........................................................................................................................6
D1 Critical evaluation of specific pathways and options for the growth, taking into account risk of
every option and how can they mitigate..................................................................................................6
TASK 2.......................................................................................................................................................7
P3 The potential sources of funds available to business together benefits and drawbacks of each of the
source......................................................................................................................................................7
M2 Evaluate sources of funds and justify the adaptation of appropriate funding for the business...........8
D2 Critical evaluation of sources of funds with justified argument to adopt the particular source or
combination of sources on the basis of needs of company.......................................................................9
TASK 3.......................................................................................................................................................9
P4 Design the business plan for the growth which involves strategic objectives and financial
information for scaling up the business...................................................................................................9
M3 Develop the detailed business plan for the growth and securing investment. Strategies, setting
objectives and appropriate frameworks for achievement of objectives..................................................14
D3 Present the business plan which demonstrate the understanding of how to apply, formulate and
achieve the objectives of business successfully.....................................................................................14
TASK 4.....................................................................................................................................................14
P5 Assess the succession or exit plan options for small business together with its benefits and
drawbacks..............................................................................................................................................14
M4 Evaluate the succession and exit plan option for small business and comparing options.
Recommend valid option.......................................................................................................................16
D4 Provide the critical evaluation of the succession or the exit option for small business and also
decide the course of action appropriate with recommendation..............................................................16
CONCLUSION.........................................................................................................................................17
REFERENCES..........................................................................................................................................18

INTRODUCTION
Every business runs with the motive to growth and expand in the near future so it is very
essential for it to plan so that the growth of the organization can be ensured and high profits can
be earned by it. Planning is also essential for achieving the goals and objective of the company
so that the organization can survive for the longer time period and battle the competition. This
helps the company to allocate its resources towards the efforts in order to adopt the changes in
industry which are driven by the digital differentiation and disruption from competitors. The plan
for the growth of the organization only comprises of business components where the customers
can see the value (Zahedi, 2019). The organization chosen for this report is Sykes holiday
cottages which provide hospitality service in UK and Ireland by renting properties to customers.
This report shall cover the analysis of key consideration for evaluation of growth opportunities
and application of Ansoff growth matrix. Further it will include different sources of funds,
business plan for growth and exit or succession plan with advantages and disadvantages.
TASK 1
P1 Key consideration for evaluating the growth opportunities and justify the consideration in
company.
The hospitality industry has the competitive market which changes constantly on the
basis of needs, demands and preference of the consumers. For the small and medium businesses,
the organization must focus on changes and for that, it is essential for it to grab the opportunities
which are prevailing in the market so that it can grow and expand (Cardoni and et. al., 2018).
There are various factors which must be kept in mind of the Sykes holiday cottages when
evaluating its strategies so that it can reap the benefits of it. These are illustrated below-
 Business goals- It is very necessary for businesses to understand that the growth
opportunity it has identified are aligned with the vision and mission of Sykes holiday
cottages. Since, its aim is to provide best hospitality service to the customers with their
needs and preference, the growth opportunity should be identified, keeping in mind its
vision.