Planning for Growth: Analysis of Speed-board Assembly Services Ltd

This report provides a comprehensive analysis of growth strategies for Speed-board Assembly Services Ltd, a UK-based electronics service provider. It begins with an introduction to planning and its importance in achieving organizational goals. Task 1 delves into key considerations for measuring growth opportunities, including Porter's Generic Strategies, PESTLE analysis, and the McKinsey model. Task 2 examines the Ansoff Growth Matrix to identify opportunities for market penetration, product development, market development, and diversification. Task 3, though covered in a separate PPT, likely addresses financial aspects. Task 4 assesses exit or succession options for the business. The report highlights various factors influencing growth, such as political, economic, social, technological, environmental, and legal considerations. It also explores potential sources of funding and their associated drawbacks and benefits, offering a strategic roadmap for Speed-board Assembly Services to achieve sustainable growth in a competitive market.

Planning for growth

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Key considerations for measuring growth opportunities identifies in context with
organisation............................................................................................................................3
P2 Ansoff's growth vector matrix to examine opportunities for growth................................6
TASK 2............................................................................................................................................7
P3 Potential sources of funding available to business and their drawbacks and benefits......7
TASK 3............................................................................................................................................8
Covered in PPT.......................................................................................................................8
TASK 4............................................................................................................................................8
P5 Critical judgement of the different exist or succession options for business....................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Planning refers to the different types of fundamental management functions that directly
involves that what it to be done, how is to be done and when is to be done. With the help of this
intellectual process an organisation could make better plan to achieve targeted goals and
objectives in an effective way. Thus, planning plays significant role and also helps to decide in
which sorts of way firms can deal with difficult situations in future. On the other side it is the
business activity that involves rational thinking and decision making aspects. Therefore, it is
very helpful aspect for different types of companies that makes plan for them to achieve valuable
growth at competitive scenario. Present report is based on Speed-board Assembly Services Ltd,
it provides different types of electronic services. This organisation was founded in the year of
1983 ans it is headquartered in Windsor, U.K. 75 employees under this firm are working together
and contributes in business for running successfully(Urbano, Aparicio and Audretsch, 2019).
TASK 1
P1 Key considerations for measuring growth opportunities identifies in context with organisation
Opportunities and growth are considered as an essential aspect for every business so that
they can attain their desired goals in a stipulated manner. Therefore, it is necessary for every
business to increase their growth through support every employees in a firms so that they can
work accordingly and able to make business growth effective at marketplace. In context of
Speed-board assembly services, there are ample number of growth opportunities in which
manager should find out several issues and challenges in a proper manner.
Porter's Generic strategies-
This model includes four strategies that can be opt by firm for running their business into
the competitive scenario. These assorted strategies are directly relate to business scope as well as
their activities that makes business different from others. In relation with Speed-board assemble
services, it is necessary to use this model for best effective results (Lucarelli and Heldt Cassel,
2019). There are few step of this model, those are going to be discussed below:

Cost leadership: It is most reliable method which helps firm to achieve their targeted
goals in a short period of time. Thus, main focus of an organisation always in to earn profit
through exploring so many business ideas.
Cost focus: According to this stage, respective firm is able to reviewing lower cost to
achieve competitive market segment. So goods are provided by this firm at lower price so that
they can explore more.
Differentiate focus: In this step, for example Speed-board assembly services needs to
concentrates on diversification market of goods and services as per entire needs and wants of
customers. Thus, differentiation concentrates on niche marketing strategies. So that so many
small businesses are able to formulates themselves within the segmentation of niche market.
Leadership: It is considered as an crucial aspect for firm in order to have good leaders
that always motivates employees to attain common objectives and goals. Mainly it is cope up
with higher price from the users for having purpose to earn better sales and revenue (Long and
Gao, 2019).
PESTLE analysis-
Main of conducting this analysis is to address different types of political, economical,
social, technological and legal factors that affects business firms in UK. As it is helpful tool, it is
followed by Speed-board assembly services, those are mentioned below:
Political factor: Political stability always considered as crucial strength of the country in
which UK maintains very good relationships with United States and so many other countries
across the globe. Thus, stability of this factor is valuable for Speed-board assembly service to
sustain for long period of time at marketplace. In addition to this, industries or businesses are
able to take help from UK government for further improvement in their sales. Therefore,
respective firm needs to adopt few changes as per current situation to run business properly.
Economical factor: It is most essential factor, it consist several elements like inflation
rate, fiscal policy, GDP as well as per capita income of people. As economic situation of UK is
good so that firms can easily achieve effective growth of their business. Along with people have
effective power to buy something or invest something that makes value of firms. In regards with
Speed-board assembly service, they are needed to focus on different factors o that they can
overcome issues and able to attain desired goals (Duwal, Amer and Kuffer, 2018).

Social factor: The country of UK has large consumer market in which there are different
types of people with several background. As per the current scenario entire taste of individual is
changing rapidly so that it could be difficult for firms to fulfil their consumer's needs. For Speed-
board assembly services, it is important to understand overall desires of customers at market so
that, management team can easily develop that ways to satisfy them (Wu, 2018).
Technological factor: According to this essential factor, firms are able to use several
techniques with upgraded technologies to run business properly. In relation with Speed-board,
assembly service, management team of this company should always focus on implementation of
new techniques so that they can satisfy consumer's wants and able to enhance their probability of
business.
Environmental factor: There are different types of elements those are interlinked with
environmental situations. It involves carbon emission, pollution act as well as waste management
policies. In relation with Speed-board assembly service, they are needed to develop best goods
and services within the society so that they can protect themselves from the environmental
conditions.
Legal factor: It includes different types of tax policies, trade laws, international trade
and many more. In context of Speed-board assembly services, they have responsibility to
implementation of few laws by which they can get better results and able to present their value at
marketplace (Pettit and et., al., 2018).
McKinsey model:
This model is used by so many firms in order to make better plan to achieve desired goals
in a short period of time. In regards with Speed-board assembly service, it is necessary to create
proper plan to achieve large amount of profit. There are few strategies of this model in regards
with Speed-board assembly services, has been described below:
Strategy: It is foremost considerable plan for achieving targeted goals and objectives
within the competitive scenario. In relation with Speed-board assemble services it can be said
that, if they have strong vision and mission so that they can achieve their targeted goals within a
shortest way and able increase their productivity. Thus, management team of firm is required to
have several kind of strategies by which they can focus on customer's needs and accordingly
provide goods and services (Rahman and et. al., 2018).

Structure: Business structure should always organised in order to share proper
information with each other. In regards with speed-board assembly service management team of
this firm should always use proper structure of working so that they can spread their services in a
perfect scenario. By following particular hierarchy they can easily improve working condition
and able to achieve targeted goals.
System: It refers to the procedure and process of firm hat identifies about several
activities and their decisions which all are developed by firms. In relation with speed-board
assembly services management is able to keep few changes for increasing better productivity of
their firm and as well as operational activities in a perfect way. Furthermore, it will helps firm to
gain successful goals (Caffieri and et.al., 2018).
Skills: It shows the ability of employees like how they are performing their task and how
they are managing their overall work in a perfect way. In regards with speed-board assembly
services it is necessary by management team to focus on their employee's skills and their
working ability in order to achieve common goals and objectives in a perfect way.
Staff: This includes people as a employees who are working for an organisation. In
context of speed-board they have responsibility to select, recruit and hire people for betterment
of growth.
Share valued: It is crucial for speed-board assembly services to guide their employees in
a proper way so that they can enhance growth of this business in an appropriate manner.
P2 Ansoff's growth vector matrix to examine opportunities for growth
Ansoff Growth matrix
This model is developed by H. Igor Ansoff who was a business manager. This concept
used b y the marketers as a growth matrix and development strategies which help in improving
the businesses of a company. There are four growth and success plan of actions are considered
within this model and they can be used by the management of Speedboard assembly to make
development in the business of respective company. The brief explanation of this analysis as
below:
Market penetration- the main focus of this approach is on maximising the sales and
market share of the company with the help of offering existing products and services of
respective company in existing market (Hansen and et.al., 2019). There are different ways and
plans that can be devised by the management of Speedboard assembly fro the growth of the

company. The administration can use unique and different promotional tools that able to provide
deep and brief information about the products of the company. The firm can adopt this strategy
because there is no risk and by making innovation in its promotional tools it can make effective
relation with customers and suppliers.
Product development- This approach concentrates on developing new products wit
unique features to fulfil newly arising needs and demands of market. It is an effective growth
strategy for a company because in it needs and demands of customers are separated from
competitors. In Speedboard assembly, the administration of the firm can adopt this strategy and
make growth in its business by manufacturing new products and selling them in existing market
to provide satisfaction to newly arise needs of consumers. The respective company deal in
electronic manufacturing so develop new product it can make investment in research &
development activity to determine the requirement of existing consumers. So that firm can offer
products as per their necessities. This strategy is risky than market penetration because the
company manufacture new product in existing market so it is not clear that innovative product
can be liked by the customers of the firm (Adu-Ampong, 2018).
Market development- This development approach is risky more than product
development because there is not assurance that product is liked by target audiences and adopt
by market in more effective manner. Because company make expansion in its business by
expanding it in another nation with existing products. So market is new and management is not
aware that the products are able to satisfy customers or not. In Speedboard assembly, the firm
can expand its business in different market like China, Germany and many more to maximise it
market shares(MacDonald, 2018).
Diversification- This strategy more risky because if the administration of Speedboard
assembly adopt this plan of action then it can influence the firm in different manner. Because in
it, firm manufacture new products and launched them in new market or geographical location. If
the administration of the company adopt it, then it can expand its business similar as well
diversified industry to make development and success in the business. Fro example, the company
can make expansion in electronic and electrical sector and other industry like clothing, food etc.

TASK 2
P3 Potential sources of funding available to business and their drawbacks and benefits
Sources of funding-
It is considered as financial term which is used by firms in order to fulfil their needs and
wants to growth effectively at marketplace. These types of sources always necessary for
company to buy few assets, stocks and new capital along with recruiting people. There are few
important sources of funding used by Speed-board assembly service, mentioned in beneath:
Bank loans:
This is one of the best funding way which is commonly used by firms to feel safe from
borrowing money to run business successfully. Bank loans always given for certain period of
time to firm and also charge some interests. For this bank needed to have some securities from
firm while giving loan. Therefore, this type of loans are very good to fixed goods like plant,
building and many more (Baum, 2018).
Advantages: These loan are very flexible in nature along with they do not consist any
types of rules and regulations. Therefore, it is easy for speed-board to borrow money from bank.
Drawback: Time consuming considered as a large issues as it needed lot of paper work
that sometime could be difficult for people to understand timely.
Crowdfunding:
It is the another type of funding through increasing money from large number of people
in which they all gives their contribution by using social sites and other websites. It is mainly
accomplished with the use of internet wherein large number of people invest together. Thus, it is
great opportunity for respective firm to raise fund.
Advantages: The main advantage of this source is to to that borrower and investors can
be connect with each other in a easiest way by which they can share their thoughts and ideas.
Disadvantages: If firms are not able to protect their overall expansion of business with
any copyright than it can create some issues as it is properly operated by internet (Mai and
Smith, 2018).

TASK 3
Covered in PPT
TASK 4
P5 Critical judgement of the different exist or succession options for business
There are diverse exit and succession plan and strategies that are used to perform precise
determination for the administration. The exit plan is prepared for organisation to develop the
value of the firm in term of merger and acquisition of the sales of assess. The succession plan
consist those activities that turn out to profitable for the company.
Winding up- It basically take place when the organisation is in loss and it is not able to
earn profit. It is related to the processes of selling and reducing the assets that consist exchange
of stock, creditors, pay off and leftovers etc. Speedboard assembly need legal framework and
system fro winding up.
Advantages- The main benefit of it is that voluntary liquidation is secured by the firm and
it assist in segregating the stakeholder dividend in appropriate manner.
Disadvantage- the limitation of this strategy is that depending on their conception of
service in a particular business, they may be capable determine legal repetitiveness pay following
their dismissal (Jensen and Creinin, 2020).
Merger and acquisition- It indicates to the method where two or more firm comes
together to accomplish the similar or common goals and business objectives in effective manner.
It help the company in capturing large market share without exploiting finance. It is also the best
potential tool in context of Speedboard assembly to exit. Apart form this, it also minimise the
risk of loss and the firm can manage and recover the risk of it in more efficient manner.
Advantages- the major benefit of this mention technique and tool is that with the
assistance of it, the company can maximise the market size and share in new geographic market
location. Moreover, the firm will have access to new technique and threat also will be shared
equally between organisation.
Disadvantages- The primer drawback of this tool is that company can not make
determination individually that minimise the effectiveness of the company in providing services.
Moreover, it directs to complexities and conflicts between organisation function that create
unfavourable impact on customers as well as organisation (Carr and McDonough, 2018).

CONCLUSION
It has been summarised form the preceding defined information that make growth and
development in a business, the management of the company should design effective plan and
policies and implement effective tools and approaches that are beneficial for the success of the
company. Ansoff and McKinsey concepts is implement in reference to understand business
environment and devise modifications in more efficacious manner. There are diverse and various
sources of fund like Bank, angel broker etc. that are effective to a company to raise finance for
the proper running of the business activities and operations. Apart from it, the business plan is
essential that assist in reducing the risk and threat which is exist and present in market. Different
exit and succession strategies are useful and appropriate to the firm to minimise the risk of loss
in adequate style and way.

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