Unit 42 Workflow: Growth Opportunities, Ansoff’s Matrix, Funding, Exit/Succession Options, Business Plan

Unit 42 Workflow
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Growth Opportunities.................................................................................................................3
Ansoff’s Matrix...........................................................................................................................4
Possible sources of funding for an SME.....................................................................................6
Exit/Succession Options.............................................................................................................7
Business plan for an SME...........................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES:.............................................................................................................................12
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INTRODUCTION
Small and medium enterprises are playing an important role in the growth of nation. It
contributes in the economic growth that's why government provides many subsidies and extra
benefits (Park and LaFrombois, 2019). It is crucial for SME to plan so that they can expand their
business in the market. In this context, Oktra is undertaking which is the leading office design
organisation in UK. Oktra is offering a range of workplace services to the offices such as office
fit out, office design, workplace consultancy, office refurbishment, etc. They are thinking about
the expansion in the market so they need to do planning. In this report, it will covers growth
opportunities, frameworks, financial planning, exit or succession options, and a business plan.
MAIN BODY
Growth Opportunities
In today's competitive world, it is identified that organisations are facing a tough
competition in the market (Dodds, Dimanche and Sadowski, 2018). But still they want to grow
which can be possible by identifying growth opportunities. For the purpose of growth, it is
crucial for Oktra that they should consider some elements in their growth planning which are
discussed below:
Competitive advantage
It is very crucial for Oktra that they should possess competitive advantage in their growth
options. Oktra needs to consider this element in their growth opportunities as it is very important
for the growth of an organisation (Baschat, 2018). In order to expand a business, Oktra should
analyse that they have an opportunity to gain competitive advantage or not as it is the main
element for staying in the market.
 Pros: It is very important for an organisation that they should gain competitive advantage
in order to grow and become successful in the market.
 Cons: If company is not gaining any competitive advantage then they cannot able to
grow as they are not differentiated by other organisation.
New products & services
Innovation is the key of success and growth, that's why it is very important for Oktra to
consider innovation in order to expand their business. Oktra can be exp[and their business when
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they have new products and services which have some innovation that makes their products
different from other organisation (Zhou and et.al., 2017). It is very crucial in order to attract
customers. This will assists in growing of their business.
 Pros: It is really helpful for attracting new customers towards their organisational
products and services.
 Cons: Sometimes customers are not trusting to new products and services.
Growth options
This is an important consideration which is necessary to consider in their growth
opportunities so that company can expand their business in an effective way. Growth options
should be evaluated after analysing the situation of the market. It is very important in order to
grow a business in the market. All types of growth options should consider by one time so that
company can select the most appropriate which become successful for an organisation.
 Pros: This is really helpful in order to grow a business as company can able to evaluate
more an more growth options.
 Cons: It is the time taking process.
Collaboration
In the process of evaluating growth opportunities, Oktra should consider collaboration so
that employees are ready for doing work together. It is very important for the purpose of
effectively achieve goals and objectives.
 Pros: It helps Oktra to achieve their desired goals and objectives of an organisation.
 Cons: People are different perception level and thoughts so it create conflicts.
Ansoff’s Matrix
It is the tool which is used by organisation for the purpose of analysing and planning their
strategies in order to grow their business in the market (Ballaro and Polk, 2017). It is also known
as Product/Market Expansion Grid. It consists of four important growth strategies which also
include the analysation of risks which are associated with each growth strategies. All the four
strategies are mentioned below that assists Oktra to choose one of the best strategies.
Market Penetration
It is the first and foremost strategy for growing business. In this strategy, Oktra needs to
focus on increasing sales in existing market with existing products. They can apply this strategy
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