Business Growth Strategies for Speedboard Assembly Services Report

This report provides a comprehensive analysis of growth strategies for Speedboard Assembly Services, a hardware company in the electronic components industry. It begins with an assessment of available opportunities using PESTLE and Porter's generic models, followed by an evaluation of growth options through Ansoff's growth vector matrix. The report assesses market penetration, development, diversification and penetration. The report also explores financing options, including bank loans, personal savings, and angel investors, offering an analysis of their advantages and disadvantages. Finally, it offers a recommendation for a business plan and discusses exit or succession strategies for a small business, providing a holistic overview of strategic planning for sustainable growth.

Planning for Growth

Table of Contents
INTRODUCTION...........................................................................................................................3
P1-An assessment of the opportunities available to the business...............................................3
P2-An assessment of the options for growth, applying Ansoff’s growth vector matrix with an
assessment of the risk of each option..........................................................................................6
TASK 2............................................................................................................................................7
P3-An assessment of the option for financing growth................................................................7
TASK 3............................................................................................................................................9
P4-A recommendation for business plan....................................................................................9
TASK 4..........................................................................................................................................11
P5-Exit or succession strategy for small business.....................................................................11
Conclusions:...................................................................................................................................12
References:.....................................................................................................................................14
Books and Journals ..................................................................................................................14

INTRODUCTION
Every organisation start their business to achieve success and growth. All these things
like development of the organisation is depends on a accurate planning. It is necessary because
through proper planning they know about timing, activity, cost and many other things. This is
important for all employees to work under the guideline of their seniors. Organisation works
with long term objectives(Wu, F., 2018). Speedboard assembly services is founded in 1983 and
it's headquarter is in Winsor, England. Speedboard is deal with electronic components. It is a
hardware industry which is dealing with technology sector. The assignment consists of PESTLE
analysis, Porter's generic and Ansoff matrix is available in growth strategy. These models are
uses evaluate the price of products in different areas
TASK 1
P1-An assessment of the opportunities available to the business
Speed board Assembly Services want to explore its business and also require to modified
there products in a effective manner. There are two type of model which helps in identifying
various opportunities for the Speed board. These two models are PESTLE analysis and Porter's
generic model. Competitive analysis is a strategy of management where evaluating the strengths
and weaknesses of other competitive organisation. Competitive is beneficial for the organisation
as it helps businesses ion finding out their competitors. Information of all these competitor is
available in public demon. Through finding top competitors Speedboard assembly services. can
improve its work of quality. identify some areas for improvement and provide their better
services to customer. It is analysed that the main resource of competitive analysis is human
network of competitor, digital network of competitor and website. In context of Speed-board
Assembly Services, managers use these frameworks which are as follows:
Porter's generic strategies model-
This model is designed because through this model organisation can applied its products
and services in all industries. this model is basically depends on cost leadership, differentiation,
focus and cost focus(Tian, L., 2016). Breast discuss of all these factors are as following.
Cost leadership-

This factor is designed to target the customer in all the areas, age group and
personalities. But Cost of the product is lowest. This is only designed to attract different
customer by products and services of Speedboard at low cost.
Differentiation-
In this factor they focus on the quality of the products and services. they are not focusing
here on the pricing strategy. In this case the cost of the product is high and quality is also
different from other competitor. They are using high quality products. through this they can
maintain demand in market.
Focus-
Focus strategy is also classified into two parts like cost focus and differentiation focus. in
this they are focusing a few segment(Wu, F., 2018). These strategy are as following.
Cost focus-
In this case the price of the product and services is lowest and they reduce its products
price according to the demand to increase the target market by its pricing policy.
Differentiate focus-
Here, Speedboard focused on the different product in a particular areas. Because they
want to differentiate scope of its products. In all these strategies cost leadership strategy is very
effective strategy for customers and organisations also. Through this strategy they find attention
of more customers in market.
PESTLE ANALYSIS-
Pestle analysis is designed for analysing the internal and external factors which get
effects on Speedboard Assembly Services in both positive and negative manner(Sarver, D. M.,
2015). Through Pestle analysis an organisation can focused on external environment of the
organisation(Tian, L., 2016). External environment of Speedboard Assembly Services is political
factors, economical factors, social factors, technological factors, legal factors, environmental
factors. these factors are mostly get effects on the Speed board Assembly Services. The brief
explication of these factors are as following.
1. Political factors- These factors are those factors who effects the Speedboard Assembly
Services through political stability, tax policies, labour low, environmental low,
corruption and trade restaurant(Pothukuchi, K., 2015). These factors are very effected to
organisation. Directly and indirectly.

 Economical factors- These factors directly or indirectly related to the economic growth
of Speedboard Assembly Services. Economic growth are related to these factors like
economic growth, interest rate, inflation rate, exchange rate, unemployment rates and
disposable rate(Perveen, S., and et.al., 2017). These all factors affect the purchasing
power of customers. it is also change the demand and supply of whole economy. These
factors also effect the price of the products and services.
 Social factors- This factor include general environment of the market, norms, customers
and value of population. Social factors are like income of customer, age of customers,
attitude, lifestyle, culture behaviour, growth rate and many other things. These all factors
effect the Speedboard Assembly Services. And in this case customers busying behaviour
also depend on lifer style and culture. this is very important for the employee who deal
with individuals.
 Technological factors- Technology is basis of speed-board assembly services because it
is a electronic company(Mason, P., 2015.). Because of technology is need for
organisation. Updated technology is also get effect on the Speed board Assembly
Services. Daily new technology comes in the tread and it is necessary to adopt that for a
growth. Level of technology, technological awareness, research and development,
technological changes these are necessary to adopt.
 Legal factors- in this factors, few factors are overlap with the political factors. Many
specific lows lie employment low, copyright and patents low, consumer protection low,
antitrust low, health and safety low. These lows are designed for a companies and
customers should know that what is wrong and what is right. There are many rules and
regulation in global market.
 Environmental factor- these factors are like weather, climate which get effect on the
industry. Insurance is the batter solution of all these problems. Insurance is necessary for
industries

P2-An assessment of the options for growth, applying Ansoff’s growth vector matrix with an
assessment of the risk of each option.
This concept was introduced by Igor Ansoff that describes some important techniques in
form of square grid, which are used for growing any kind of business in competitive
market(Levy, J. M., 2016). When talking about Speedboard Assembly Services, which is an
electronic manufacturing industries where managers have implemented product-market
expansion grid in work culture, for sustaining business in cut throat competitions. These
effective strategies in matrix are mentioned below:
Market Development: This strategies states that an existing product is been introduce in
new target market by organizations(Levesque, and et.al., 2017). If it is talked about Speedboard
Assembly Services, the marketing supervisor plan some guidelines while conducting a research
on various factors like preferences of consumers, cost incurred and proportion of risk in new
market where expansion of business could take place effectively. The company is currently
providing electronics product in aerospace and defence fields, where digitized aircrafts are used
by military pilots in different nations. While applying this strategy will influence more growth
for business.
Market Penetrations: In this strategy a firm estimates the cost of its existing products in
same market where the goal is to raise market shares and minimize risk in growing a business.
In reference with Speedboard Assembly Services, managers could add some innovative features
in existing products like producing effective communication tool in media broadcast sector,
where there are major chances of increasing market share for expansion of business.
Diversification: There is high risk for any firm while launching a new product in new
market for growth of business(Friedmann, J., 2018). In context with Speedboard Assembly
Services, executive manager should introduce a medical equipment that are being used in
hospitals sectors, where many doctors might prefer these tools for treating their patients. While
adopting this strategy in new market, there are probability where chances of risk reduced to some
extent, which help to achieve objectives that are set by firm.

Product Development: This strategies is related with introducing a fresh product in
existing market by any company(Fehring, R. J., 2015). While analyzing current stage of good in
its product life cycle and after services rendered to their consumer have reached to set standards,
if marketer found there is need of launching a new product in market, then pre-forecasting of
cost incurred and generations of revenues are been planned with other managers for balancing
flow of business activities and other resources in organization. While talking about Speedboard
Assembly Services, supervisor makes plans of launching a fresh high quality machines for
consumer in industrial sectors, where there are requirement number of machines in many
companies. While adopting this strategies in services rendered by manufacturing companies,
helps in building effective relationships with clients that result in gaining a sense of loyalty
towards brand. There could be probability of increasing market shares by satisfying existing and
attracting potentials buyers, while providing special sales offers to primal consumers. As per
current trend adapt in every society, it is important for Speedboard Assembly Services company
to know about preferences of target populations, in respect with planning strategies for attaining
growth as well capturing competitive advantage in market.
From above description it is been analyzed that Speedboard Assembly Services have
adopted market penetration strategies for achieving short term as well as long terms objectives
set by supervisors of company.
TASK 2
P3-An assessment of the option for financing growth.
Every organisation wants to grow and make profit. In the case of Speed board assembly
service the company is planning to expand its market and trying to focus on there
services(Channon, D. F. and Jalland, M., 2016). So responsibility of the manager is to find the
best suitable funding option for the company. In the market there are many sources of funding
are available at minimum rate of interest. The following list are given below.
Bank loan- For the company like speed board, bank is one of the option for funding.
Nowadays bank provide instant loan to organizations along with some interest. Every bank have
separate department for loan approval, only basic formalities should be fulfilled by the
organisation to get loan approval. Speed board can use the bank as option for funding.

Advantages- Banks have easy process to get loan approved with minimum rate of
interest. Banks also provide flexible services, that organisation can choose different slabs of
instalment as per there convenience.
Disadvantages- Speed board have to make monthly payments to the bank. If the
company fails to repay the amount in specific given time,then bank have full authority to seize
the assets of organization. Another disadvantage of bank loan is they have long procedure of
paper work which is time consuming.
Personnel savings- Many small businessman use there own savings into the company. If
speed board is capable of using its saving then it can be on of the option to raise fund for its
organisation(Birkin, M., and et.al., 2017). Personal saving can be use if owner do not want any
help from the external sources.
Advantages- This is one of the easiest way to get fund with no rate of interest. There is
no burden on organization of repaying the amount and interest to bank or any other funding
source.
Disadvantages- One of the major risk in personal saving is that owner will have to bear
all the loses if company get into loss. There is no other way of sharing the risk of loss its all up
to the speed board assembly.
Angel Investor- Angel investors are also known as informal investors, private investors
or angel funder. They provide funding for a business or start ups in exchange of ownership
equity or convertible debts according the organization. They usually provide supports to business
who are at risk or they need capital.
Advantages- The biggest advantage to get capital from angel investors is that they are
less risky than other funding sources. Before providing the funding angel investors understand
the business and take futuristic approach before investing in any company.
Disadvantages- Primary disadvantage of using angel investors is the loss of control as
the owner. Sometimes angel investors will interfere in business and owner will receive the
portion of the profit.
Friends and family- This one of the common source of funding for small
business(Albert, V., 2017). Speed board assembly can take help of friends or family for funding.
It is useful because friends and family do not take securities or charge any interest.

Advantages- It is one of the easiest way to get funds from friends and family because no
documentation or any paper work is required.
Disadvantages- If the organisation have to face loss and the company cannot repay the
amount, it will directly impact on relationship with friends or family.
As discussed above bank loan is best fit option for small SME company, because they
provide loans with minimum interest rate and include less risk.
TASK 3
P4-A recommendation for business plan.
A business plan comes with written description of business, it is a formal document that
explain about the future plan and how to implement it(Coale, and et.al., 2015). In the case of
speed board assembly, it is suggested to manager to the company to follow the given business
plan so that business can expand quickly:
Overview of the company- Speed board Assembly Services was founded in 1983,its
headquarter is located in Windsor, South East England, England (UK). There are around 50 to
200 employees working in the company. Speed Board Assembly company total revenue is
around 50 to 100 billion dollars.
Product and services of the company- Speed board assembly services deals in
Aerospace, Defence, Medical, Communication & Broadcast, Industrial & Transport and Safety
& Security. Company is highly respected within the industry because they provide good quality
of services and they are skilled professional in there respective fields.
Mission and Vision- Speed Board has a mission statement is to provide best quality of
product and services to there respective clients. The vision statement of company is to become
one of the leading organization across the globe.
Situational market analysis- The top level management of Speed Board Assembly are
trying to focus on situational analysis to enhance there knowledge on strengths(Albert, V., 2017).
Company is also trying to find out the untapped market in order to expand there business in
efficient manner. In this regard strength and opportunity for Speed Board Assembly are
explained below in detailed manner:
Strengths Opportunities

 The company is highly capable in
manufacturing good quality of product.
 Most of there product are highly
technical like Aerospace parts, Defence
etc.
 By expanding its business globally
there are many opportunities for the
company to expand there business.
 Speed board Assembly can increase
there clients by diversifying there
fields in different sectors.
Formulation of budget.
In formulation of budget company have to formulate the efficient budget for all the
activities going in the organization. In the context of Speed Board Assembly, the estimated
budget for this company are explained below:

On the basis of above cash flow information, it says that Speed Board Assembly Services
is paying there taxes very year and its cash in hand for all three years since 2015, 2016 and 2017
are $102203, $200354, $238503 respectively. Anuall estimated income of company is around
$72001.
TASK 4
P5-Exit or succession strategy for small business
Many entrepreneur who are growing their small businesses adopt various strategies
while sustaining in competitive market of a particular sectors(Friedmann, J., 2018). It is
important for organisation to implement both of these strategies after deep assessment of current
position in target segment. An exit strategies is described as termination or exiting of business,
if operation process are being hampered by various factors like lack of human resources,
improper allocation of funds while organising activities in work environment and imbalance of
cost incurred in manufacturing and producing goods which are not generating expected revenues.
In these circumstances managers have to adapt plans in regards with successful wind-up of
business from market. While talking about successive planning, it is defined as structured
framework of designing how as well as when activities will take place in organisation. Most of
company follows different successive plan while growing business. Henceforth will affect in
gaining more advantage in target market. In context with Speedboard Assembly Services,
managers have implemented successive strategy while expanding their business at national level
and across worldwide. Some of the factors which affect business operations are mentioned
below:
Use of internet: The concept of internet is broadly described as connecting people
worldwide through the use of effective networks. With advancement of new technologies in
market, many buyers are very curious for using these techniques like customized laptops,
smartphones and big screen televisions for their entertainments(Birkin, M., and et.al., 2017).
When taking into consideration Speed board Assembly Services, leaders should cautiously use
internet through effective use of social media platforms, while planning strategies for promoting
goods as well as rendering services to existing consumers for improving customer relationship
of a company.

Advantage: The main advantage of using internet is that fresh information of customers
could be collected by researcher, while guiding to marketing team in planning promotional
strategies for specific product at online platforms to seek attention of potential buyers.
Disadvantage: There are chances where stored information of company and customer
could be used by hackers for personal or professional benefits for lowering market shares. Also
the consumer are not satisfied by quality of product purchased online or after sale services which
are given to them by organizations.
Merger and acquisitions: This is most effective successive strategies used by many firm
for giving exposures to their business(Friedmann, J., 2018). In this approach most companies
join hands with startup firm by sharing profits for gaining competitive levels. In regards with
Speed board Assembly Services, the managers are required to identify key partners or local
authorities in order to merge its business with them.
Advantage: While implementing this strategy there are chances that more revenues will
be generated through effective customer relationship management, which in-turn result as
grabbing attention of shareholder for investing more shares in company.
Disadvantage: Some time activities occurs where merger may have negative impact due
to improper flow of communications between more than two companies which will result in
decrease of brand value of company.
Henceforth, Speed board Assembly Services have chosen merger and acquisition
strategies in successive planning for growing their business at national boundaries and across
worldwide.
Conclusions:
From above discuss report it has been analyzed that porter generic model was found very
effective in estimating the cost of product, while pestle analysis briefed about internal as well as
external factor which affected marketing strategies that are being planned by Speedboard
Assembly Services . When ansoff model is adopted, it is found that market penetration strategy
resulted in increasing market shares. Some financial decisions were taken in considerations while
assessing proper allocation of fund where priority was given to bank loans for funding. While
recommending business plan it has been analyzed that 102203, $200354, $238503 cash has been
incurred in 2015, 2016 and 2017 respectively. Then after some strategies were discussed on