A Review of Business Strategies for Expansion: Ragus Sugars Ltd Report

This report examines Ragus Sugars Ltd.'s plan to expand its business into the U.S. market. It begins by outlining the business context, aiming to review business strategies for organizational expansion, and setting objectives to identify required resources, choose the best market expansion strategy, and determine companies that have successfully implemented such strategies. The report addresses key research questions regarding resource requirements, suitable market expansion strategies, and successful examples. It reviews relevant literature on expansion strategies, required resources, and the benefits of market expansion. The current research discusses various expansion strategies, with a focus on internationalization. The report also details the methods of inquiry, including qualitative research and the use of ex-employees for data collection. Ethical issues, such as data sensitivity and the need for data from secondary sources, are discussed. A Gantt chart provides a timeline for the project. The report concludes with a section on professional and career development skills, including decision-making and communication skills, and references.

Business Report Proposal

Table of Contents
REPORT TITLE:.............................................................................................................................3
BUSINESS CONTEXT:..................................................................................................................3
AIM:.................................................................................................................................................3
OBJECTIVES:.................................................................................................................................3
PROJECT QUESTIONS:................................................................................................................3
LITERATURE REVIEW:...............................................................................................................3
CURRENT/ PRELIMINARY RESEARCH:..................................................................................5
METHODS OF INQUIRY:.............................................................................................................5
ETHICAL ISSUES:.........................................................................................................................5
PLANNING:....................................................................................................................................7
PROFESSIONAL AND CAREER DEVELOPMENT SKILLS:...................................................9
REFERENCES..............................................................................................................................12

REPORT TITLE:
“A review of business strategies for expansion: Evidence from Ragus Sugars Ltd. ”
BUSINESS CONTEXT:
Ragus Sugars Ltd. is a manufacturing company who is currently executing its business
in UK successfully. Now it is willing to expand its business activities in U.S. Market. So that
larger market area can be captured. As the business in UK is resulting good profits for the
company hence the top executives proposed to expand the business in more geographical
locations. For this purpose, the managers have been asked to analyse the resources that are
required for the expansion (Hair Jr, and et.al., 2015). The resources that are identified are
building, new employees, funds, material, ware house etc. The proposed plan for expansion is
justified as it will help in gaining opportunities of higher profits and growth.
AIM:
“To review business strategies for organisational expansion.” A review of Ragus Sugars.
OBJECTIVES:
 To identify the resources that are required by Ragus Sugars to expand its business.
 To choose the best market expansion strategy for Ragus Sugars Ltd.
 To determine the companies who have already used market expansion strategy.
PROJECT QUESTIONS:
Question 1: What are the main resources that are required by Ragus Sugars while expanding its
business in U.S.?
Question 2: Which market expansion strategy will best suit to Ragus Sugars?
Question 3: Which company have already adopted market expansion strategy and used it
appropriately?
LITERATURE REVIEW:
Question 1: What are the main resources that are required by Ragus Sugars while expanding its
business in U.S.?
In this literature a perfect strategy for the expansion, required resources, benefits and advantages
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of resources, factors that may affect the expansion are important to be identified. It is very
significant to assess all the elements so that, the business can be launched successfully and
appropriately in U.S. While formulating strategies for the launch the managers also need to
analyse the target market where the products will be introduced for the first time. Market
expansion is adopted by Ragus Sugars Ltd. because it is going to offer its existing products in
U.S. This strategy will be very advantageous for the organisation only in one situation when a
proper market research is been conducted and information about the taste or preferences of
customers is gathered.
Question 2: Which market expansion strategy will best suit to Ragus Sugars?
Ragus Sugars Ltd. is going to intend and focus on market expansion and for this purpose
they are going adapt internationalization strategy as it guides while launching existing products
in new international markets (Market expansion strategy, 2018.). Managers of the company
have proposed this strategy because this will be beneficial for the organisation in long as well as
short term because it can help to acquire large market share and increase profits and sales. It is a
risky method hence marketing research is essential while implementing this approach. The
proposed strategy which is market expansion is based on the research which is conducted by
managers of the organisation for the ex-employees of the companies who are operating business
in same sector (Li, 2012).
Question 3: Which company have already adopted market expansion strategy and used it
appropriately?
There are various companies who have used this market expansion strategy of
internationalization for the purpose of expanding their business in more international locations.
Wall Mart is a large organisation who have adopted same strategy which is going to be used by
Ragus Sugars to expand its business in U.S. It has resulted positively for Wall Mart because
now it is running its business globally by attaining higher profits.
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CURRENT/ PRELIMINARY RESEARCH:
According to Grønhaug and Kvitastein, 1992 there are various expansion strategies that
can be adopted by the organisations but this may result positively if they are using diversified
strategy for expansion. This strategy will be very beneficial for the business as it guide to offer
new products to a new market.
According to Hernandez JG and LEAS, 2017 if an organisation is willing to expand its
business in a new location than the best strategy is internationalization strategy because it direct
organisations to launch existing products in a new market rather than launching a new product
in a new market. This will help to reduce the risk because it is very tough to get success by
launching a new product in a new market.
METHODS OF INQUIRY:
Data is considered as set of values which can be qualitative and quantitative. The
information and data are very useful for companies in various ways. As companies makes
important decisions on basis of these data and information. The Ragus Sugars Ltd. is also
looking for some reliable data and information in order to make expand their business in the
market of United States. To make expansion company require some sensitive information of
their competitors which are currently operating their business in US market. As ex-employees
of competitors can provide the reliable information to Ragus in order to expand their business.
They have insight information of their companies so they can provide sensitive information like
about company's strategy and their policies for trading in market (Maryska and Novotny, 2013).
The research method which is used to perform this research is qualitative research methods. As
qualitative method is helpful in providing qualitative information. The interprivitism philosophy
is being applied in order to interpret the information. For analysis tool the Gantt Chart is
prepared in order to analyse the tool. As descriptive approach is being considered as suitable for
this research.
ETHICAL ISSUES:
Ethics are important concern of every business, organisations have their ethical policies
which should be followed by at every level by employees. There is different kind of ethical
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issues is being raised while planning for this expansion. As in order to make expansion plan,
access to the certain information and data of competitors is being required. So employees of
Ragus has tried to collect data and information of its competitors from the ex-employees of
these competitors company. The data and information are considered as very sensitive because
it could lead to heavy loss for one company and profit for another which uses that information.
This is an ethical concern for the company. To handle this issues company can also collect data
from secondary sources like Internet, Magazines and Journals. The data is considered as an
important information so access to the data can be considered as an major ethical issue for this.
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PLANNING:
Gantt chart:
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As from the above Gantt Chart it can be said that time taken for preparing report title is
only 1 day. While doing preliminary research has taken highest number of days which is 16
days. Apart from this to prepare project question it takes 14 days. And 13 number of days can
be taken for the method of inquiry. To identify ethical issues, it can take 10 days.
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PROFESSIONAL AND CAREER DEVELOPMENT SKILLS:
The professional and career development skills are very important for an individual in
order to be competitive in professional life. As there are some skills like communication,
leadership, management, decision making and teamwork etc. required for the professional and
career development. The targets for developing professional and career development is
discussed below:
Personal Development Plan
Skills Way to improve the
skill
Duration for
improvement
Assessed by
Decision Making
skill: This is an
important skill for the
employees of
organisation in order
to make effective
decision in company.
Company Support:
There are some
companies which
provides opportunities
for professional
development in order
to retain the
employees and help
them to grow in their
professional and
personal career. So the
target is to get benefit
out of these training
and development
session of company
(Sekaran and Bougie,
2016).
3 Months This will be assessed
by managers and the
outcomes of the
decision is being taken
after improvements.
Communication
Skill:
Communication is a
Attending
conferences and
workshops:
2 Months This will be assessed
by the managers and
colleagues.
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basic but also an
important skill for an
individual in order to
make communication
in organisation and at
other places also. This
helps an individual to
do interactions among
people and understand
what other people is
trying to say. As to
improve
communication skills
one can attend
conferences and
workshops on
communication which
can help for an
individual to enhance
their skills.
The
conferences and
workshops are
important tool for
development of
professional and
personal career. As the
target is to attend
different seminars
which is being held on
development of skills
and conferences which
also provide
opportunities to
employees in order to
enhance the skills.
Apart from this one can find a mentor or colleagues which can guide them to enhance and
develop their skills.
All the above-mentioned steps are going to be followed by Ragus Sugars Ltd. While
expanding business in U.S. As it can help to successfully operate business there. Market
expansion strategy is being used by the managers so that large market area can be captured by
the organisation.
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