This report provides a comprehensive analysis of Fordway's growth strategies, addressing key considerations for evaluating growth opportunities. It delves into the application of frameworks like the Boston Consulting Group Matrix and McKinsey 7S model to assess Fordway's current market position and internal capabilities. The report then evaluates growth opportunities using Ansoff's growth vector matrix, exploring market penetration, product development, market development, and diversification strategies. Furthermore, it assesses potential sources of funding available to businesses, discussing the benefits and drawbacks of each, and evaluating the most appropriate funding sources for Fordway's expansion. A detailed business plan for growth is developed, including strategic objectives and frameworks for achieving them. Finally, the report examines various exit or succession options for small businesses, evaluating their implications and recommending an appropriate course of action for Fordway. The report provides a coherent and in-depth analysis of Fordway's business growth, demonstrating a strong understanding of business objectives and strategies.
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