UNIT 42 Planning for Growth : Assignment

Added on - 21 Jul 2020

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UNIT 42 PLANNING FORGROWTH
INTRODUCTIONSME's are important part of the country's growth. The organisation aspires to becomeprofitable and effective has to perform well in the market so that it may be able to expand in themarket effectively. The enclosed report deals with Gurnard's Head organisation which is SME inhospitality sector (Keough, 2015). For its effective growth, it has to perform good in the marketwhich is possible only when well structured strategies are formulated by it. The competitors mustbe outreached by the company, this will provide huge profits and more market share to it. Inreturn, customers will be satisfied and growth can be made by the company in the mostproficient manner.Business plan should be formulated in effectual manner.
TASK 1(P1) Provide considerations for evaluating growth opportunities with justification and impact ondigital technologyThe considerations for evaluating growth opportunities are numerous for the organisationwhich is planning for growth. The organisation is very much enhanced by the impact of digitaltechnology. This also applies to Gurnard's Head organisation which is a Small and MediumEnterprise (SME) in the hotel industry. Digital technology has ample benefits for theorganisation as through this, they can plan for future growth and this helps a lot to organisation.The various considerations are as follows:1. Competitive advantage:The competitive advantage is very important for the organisation so that it can grow inthe market by satisfying customers at large. For this, digital technology has paved the way for thebusiness in effectual manner. The organisation can gain competitive advantage by exploringdigital technology (Ying, Chaolin and Xiaojiang, 2014). Through this, cost of overall operationsof the business is reduced up to great extent. This is helpful for the organisation so that it canplan for growth as costs are minimised and savings are made. Digital technology allowsGurnard's Head organisation to access data of the potential customers as such, security ismaintained as outsiders are not allowed to access it.It is possible because of cloud computing.Digital technology help organisation to attain competitive advantage as costs are reduced andmore of customers data can be accessed within short span of time.2. New products and services:Innovation is made by the company too much extent. This is because through digitaltechnology, new products and services may be made which provides business a competitiveadvantage and innovation is achieved as well (Chaston, 2015). The SME is benefited as throughusage of digital technology, they can plan for future growth and expansion. Gurnard's Head maybe able to provide enhanced services to guests which ultimately imparts delightful experience tocustomers at large.It may be able to provide more comfort to customers by innovating services.New products can be easily developed so that business may flourish by expanding productportfolio.
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