Business Development Report: Strategies for Planning and Growth

This report offers a comprehensive analysis of business growth strategies, encompassing key areas such as evaluating growth opportunities through PESTLE analysis and Ansoff's growth vector matrix. It delves into various sources of funding, outlining their benefits and drawbacks, and provides insights into crafting a robust business plan, including objectives, mission, vision, values, STP (Segmentation, Targeting, Positioning), financial information, and risk management. Furthermore, the report explores exit and succession options, examining the advantages and disadvantages of different approaches like liquidation, selling, mergers, acquisitions, and partnerships. The content is supported by references to academic literature and provides recommendations throughout each section, offering a practical guide for business development and strategic planning. This report provides a thorough understanding of business growth and development.

Planning for growth

Table of Contents

INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................2
Task 1: Evaluating growth opportunities...............................................................................2
PESTLE Analysis..............................................................................................................2
Ansoff’s growth vector matrix...........................................................................................2
Recommendations..............................................................................................................2
Task 2: Sources of funding.....................................................................................................2
Types of funding sources with benefits and drawbacks of each source............................2
Recommendations..............................................................................................................2
Task 3: Business plan.............................................................................................................2
Objectives..........................................................................................................................2
Mission, vision and values.................................................................................................2
STP....................................................................................................................................2
Financial information.........................................................................................................2
Risk associated and mitigation..........................................................................................2
Recommendations..............................................................................................................2
Task 4: Exit and succession options.......................................................................................2
Exit options with benefits and drawbacks of each option.................................................2
Succession options with benefits and drawbacks of each option......................................2
Recommendations..............................................................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................3

INTRODUCTION
(Gumel, 2019).
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MAIN BODY
Task 1: Evaluating growth opportunities
PESTLE Analysis
Overview
Political factor
It is one of the pestle factor that is the political factor which means that
(Widodo, Mahachandra, Widhiyaningrum and Tahqiqi, 2020).
Economical factor
It is an another pestle factor that is the economical factor which means that
Social factor
It is also the one of the pestle factor that is the social factor which means that
(Shtal, Buriak, Ukubassova and Tlegen, 2018).
Technological factor
It is also an another pestle factor that is the technological factor which means that
Legal factor
It is one of the pestle factor that is the legal factor which means that
Environmental factor
It is an another pestle factor that is the environmental factor which means that
(Policy, 2018).
Ansoff’s growth vector matrix
Overview
(Martins, 2020).
Market penetration
It is one of the part of Ansoff growth vector matrix that is the market penetration which
means that
Product development
It is an another part of Ansoff growth vector matrix that is the product development
which means that
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Market development
It is also the one of the part of Ansoff growth vector matrix that is the market
development which means that
Diversification
It is also an another part of Ansoff growth vector matrix that is the diversification which
means that
(Gurcaylilar-Yenidogan and Aksoy, 2018).
Recommendations
Task 2: Sources of funding
Types of funding sources with benefits and drawbacks of each source
Overview
(Fan, Huang and Chen, 2019).
Personal savings
It is one of the type of funding source of business that is the personal savings which
means that
Family and friends
It is an another type of funding source of business that is the family and friends which
means that
(Sági and Juhász, 2019).
Crowdfunding
It is also the one of the type of funding source of business that is the crowdfunding which
means that
Bank loans
It is also an another type of funding source of business that is the bank loans which
means that
(Ali-Yrkkö, Pajarinen and Ylhäinen, 2019).
Small Business Administration (SBA) Loans
It is one of the type of funding source of business that is the Small Business
Administration (SBA) Loans which means that
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(Alam, Paull, Peachey and Griffiths, 2020).
Recommendations
Task 3: Business plan
Objectives
Mission, vision and values
STP
(Thewißen, Wahl and Geyer, 2019).
(Harahap, 2019).
Financial information
(Finkler, Smith and Calabrese, 2018).
(Yuniningsih, Pertiwi and Purwanto, 2019).
Risk associated and mitigation
(DuHadway, Carnovale and Hazen, 2019).
(Alazzabi, Mustafa and Karage, 2020).
Recommendations
Task 4: Exit and succession options
Exit options with benefits and drawbacks of each option
Liquidation
It is one of the type of exit option for business that is the liquidation which means that
(Wennberg, 2021).
Selling
It is an another type of exit option for business that is the selling which means that
(Chirico, Gómez-Mejia, Hellerstedt and Nordqvist, 2020).
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Succession options with benefits and drawbacks of each option
Mergers and acquisition
It is one of the type of succession option for business that is the mergers and acquisition
which means that
(Gagné, Marwick, Brun de Pontet and Wrosch, 2019).
Partnership
It is an another type of succession option for business that is the partnership which means
that
(Bertschi-Michel, Sieger and Kammerlander, 2019).
Recommendations
CONCLUSION
REFERENCES
Books and journal
Alam, M., Paull, M., Peachey, A. and Griffiths, J., 2020. Funding sources and performance
management systems: an empirical study. Journal of Accounting & Organizational
Change.
Alazzabi, W.Y.E., Mustafa, H. and Karage, A.I., 2020. Risk management, top management
support, internal audit activities and fraud mitigation. Journal of Financial Crime.
Ali-Yrkkö, J., Pajarinen, M. and Ylhäinen, I., 2019. Business Angel Investment, Public
Innovation Funding and Firm Growth (No. 97). The Research Institute of the Finnish
Economy.
Bertschi-Michel, A., Sieger, P. and Kammerlander, N., 2019. Succession in family-owned
SMEs: the impact of advisors. Small Business Economics, pp.1-21.
Chirico, F., Gómez-Mejia, L.R., Hellerstedt, K. and Nordqvist, M., 2020. To merge, sell, or
liquidate? Socioemotional wealth, family control, and the choice of business exit. Journal
of Management. 46(8). pp.1342-1379.
DuHadway, S., Carnovale, S. and Hazen, B., 2019. Understanding risk management for
intentional supply chain disruptions: Risk detection, risk mitigation, and risk
recovery. Annals of Operations Research. 283(1). pp.179-198.
Fan, H.L., Huang, M.H. and Chen, D.Z., 2019. Do funding sources matter?: The impact of
university-industry collaboration funding sources on innovation performance of
universities. Technology Analysis & Strategic Management. 31(11). pp.1368-1380.
Finkler, S.A., Smith, D.L. and Calabrese, T.D., 2018. Financial management for public, health,
and not-for-profit organizations. CQ Press.
Gagné, M., Marwick, C., Brun de Pontet, S. and Wrosch, C., 2019. Family business succession:
What’s motivation got to do with it?. Family Business Review, p.0894486519894759.
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Gumel, B.I., 2019. The Impact of Strategic Planning on Growth of Small Businesses in
Nigeria. SEISENSE Journal of Management. 2(1). pp.69-84.
Gurcaylilar-Yenidogan, T. and Aksoy, S., 2018. Applying Ansoff’S Growth Strategy Matrix To
Innovation Classification. International Journal of Innovation Management. 22(04).
p.1850039.
Harahap, Z., 2019. Similarity The Effect of Entrepreneurship Training on Entrepreneurs Growth
in the Field of Catering and Handicraft for Persons with Disabilities in West Java (Study
Of Catering And Handicraft Training for Persons with Disabilities Manpower Office of
West Java Province).
Martins, A.M.A.R.D.L., 2020. Scenarios and Ansoff Matrix (Doctoral dissertation).
Policy, P., 2018. What is pestle analysis.
Sági, J. and Juhász, P., 2019. Funding alternatives and business planning in family
businesses. Prosperitas. 6(1). pp.35-53.
Shtal, T., Buriak, M., Ukubassova, G. and Tlegen, T., 2018. Methods of analysis of the external
environment of business activities.
Thewißen, C., Wahl, F. and Geyer, O., 2019. 3. STP-Strategien. In Marketing (pp. 109-146). De
Gruyter Oldenbourg.
Wennberg, K., 2021. Exit. In World encyclopedia of entrepreneurship. Edward Elgar Publishing.
Widodo, A.K., Mahachandra, M., Widhiyaningrum, M. and Tahqiqi, R., Formulating a Strategic
Management of Social E-Commerce through a Combination of SWOT and PESTLE
Analysis: Case Study.
Yuniningsih, Y., Pertiwi, T. and Purwanto, E., 2019. Fundamental factor of financial
management in determining company values. Management Science Letters. 9(2). pp.205-
216.
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