Planning for Growth

Planning for growth

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Examining different growth opportunities.............................................................................1
P2 Opportunities for growth through applying ANSOFF'S growth vector matrix.....................3
TASK 2............................................................................................................................................5
P3 Important sources of funding available business along with their drawbacks or benefits.....5
TASK 3............................................................................................................................................6
P4 Business plan.........................................................................................................................6
TASK 4............................................................................................................................................7
P5 Exit alternative for small businesses along with advantages & disadvantages.....................7
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Growth is one of the important factor which is needed by firms to operate their entire
functions and activities successfully (Gielnik, Zacher and Schmitt, 2017).. Planning for growth
consist different types of activities which all are used by firm in order to implementation of
unique strategies as well as plans. Thus, each and every firm required to have effective plan for
further growth to sustain for long period of time at marketplace. Therefore, planning and growth
is considered as most important factors within firm as it plays crucial role. In this report Ella's
Kitchen has been taken as an organisation which is headquartered in UK was founded in the year
of 2006. this company deals with organic toddler and baby food and sold in supermarkets
including Denmark, China, Finland, UK and many other Moreover, this report includes key
considerations of SMEs to examine growth opportunities. There are few methods of funding
along with business plan. Lastly, several ways of small business owner can be exit or implement
for future growth.
TASK 1
P1 Examining different growth opportunities
Every business plans for its growth. Small businesses wants to become medium
businesses, medium businesses wants to become large businesses and to become bigger in their
sizes and activities they plans for growth. A strategic growth plan is necessary for every business
to make when they are about to expands itself. A business can determine the growth
opportunities through porter's generic strategies. It is a model in which has four strategies
accordingly the company could select any one which it feels appropriate. The strategies are Cost
leadership, Differentiation, cost focus and differentiation focus. The porter's generic strategies of
Ella's kitchen is as follows-
Cost leadership – In cost leadership gain the cost leadership in an industry by producing
the products at very low cost. The sources through which a company can gain cost advantage is
varied and also depends on the type and structure of the industry. They can gain the cost
leadership through economies of scale, usage of advanced technologies, favourable raw materials
and other factors. It is been said that if a firm sustains and achieves the cost advantage then it
will perform above average in its industry as it can command prices at or around the industry
average. As in case with Elle's Kitchen, the company can gain cost advantage through many
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