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The book Strategic Planning for Sustainable Growth: Unleashing Your Business Potential

University: Kensington College of Business

  • Unit No: 12
  • Level: High school
  • Pages: 10 / Words 2615
  • Paper Type: Assignment
  • Course Code: J/508/0601
  • Downloads: 255
Question :

This sample will let you know about:

  • Examine the key consideration for growth opportunities.
  • What is Cost leadership
  • Explain Market development

 

    Answer :
    Organization Selected : N/A

    Introduction

    Planning is a refers as step by step producers which are to be followed by the employees for achieving the goals and objectives of the organisation. The effective planning is needed for having growth in the business market place. The manager and leader make sure that there is proper approach is followed in the management team to compete the task in the impressive ways. Under this report, the RGB communication, offering various variety of product and services such as projectors, docking stations and audio-visual and house-ware item. Ansoff matrix is used to explain the growth of the business activities.(Arku, Yeboah and Nyantakyi-Frimpong, 2016)

    Examine key consideration for growth opportunities.

    The organisation can have seen growing in the market as they have more number of market share and attaching the huge target audience. With the references of RGB communication, having largest market in the UK economy and manager makes various policies to offers different goods and services at the international level.

    Competitive advantages: in the context of the RGB communication, organisation tries to offers various product at the lower prices in the market to increase the market share in the competitive market. (Bagheri, Guevara and Doluweera, 2018)

    Capabilities: the organisation has a capabilities to reach out to more number of audience by providing unique goods and services in the target marketplace.

    Resources: The RGB communication has a skilful and knowledgeable employees in their team to increase the productivity in the company.

    Core competencies: having new and advance technologies in the company will lead to effectiveness in the team.

    The RGB communication, offers various product and services which help in expanding the business at different locations. The organisation uses PESTLE and porters generic model for increasing their business.

    Porters Generic model: it is a model which provide a way to increase performance the audience and build a positive image in the market. Their are four strategies as follows:

    Cost leadership: here, the company is consider as a low cost producer in the similar industry. In the context of the RGB communication uses this strategies to gain more customer in the market by providing product and services at lower cost.Worried for Marketing Assignment Help? Get our experts Help Now!

    Differentiation leadership: With the references of RGB communication, company offers various different goods to become unique in the target marketplace and gain loyal customer in long run.(Bunker, Freestone and Randolph,2017)

    Cost focus: The manger of the RGB communication, tries to take cost advantages in the target segment and attract more number of customer for the company.

    Differentiation focus: under this strategies, the company tires to give various different type of product in the target marketplace, to increase the productivity in the market in the present as well as in long time.

    PESTLE analysis : Under this strategies, the focus in given on the macro-environment factors which are present in the work environment.

    Political factors: here, legal regulation is taken into consideration which have a impact on the performance of the company. It includes factors such as tax rule, legal legislation and etc. the RGB communication have to operates within the legal laws of the UK economy.

    Economical factors: under this factor, it involve factors such as inflation rate, growth rate and such rates have a various impact on the productivity of the company. The high inflation rate reduces the purchasing power of the customer.(Carrozza, Pietrantuono and Russo 2014)

    Social factors: With the reference of RGB communication, the customer belief and thought plays a important part in the market. The taste and preferences of the customer have a impact on the profits of the organisation.

    Technology factor: In the context of the RGB communication, the use of advance technology in the business operation help in providing the new way to enhance their productivity in the long run.

    Legal factors: every organisation have to follow their respective country rules to have a effective operations at the task level. It also involved minimum wage rate and equality rate at the work places.

    Environment factors: It includes factors such as work environment, climate condition, the manger of RGB communication, make sure that they operators at favourable work climate for the company.

    Explain the opportunities with the use of Ansoff growth for business operations.

    Ansoff matrix act as tool and techniques used by the company to analysis the market strategies for development and growth of their business to next levels. It is also called as the product and market expansion grid for the company. This matrix is made of different strategies which provide a way to have proper plan for business growth in the marketplace. In the context of RGB communication, the leader make as effective plan which will help in achieving the goals and objectives of the company in the long run.(Filion, Lee, Leanage and Hakull, 2015)

    Market penetration: here focus stays to increase the market share of the company in the existing the market by deceasing the prices of goods and services. The manager of the RGB communication, make use of this strategies to expand the operations of the at existing market by giving various different product to customer.

    Advantages

    • The good goodwill help company to retain their customer in the marketplace.
    • The company is able to increase number of sale which lead to more economic in the market.
    • This able to increase their profits by expanding the supply chain.

    Disadvantage

    • customer can switch to another brand if they found better product from another company.
    • This strategies can not last for longer period of time.

    Market development: Here, the company enters with the existing product and services into new market place. The company can expand their business under the new geographical area and attach more customer in the longer time. The RGB communication will lead to operates under new area in the market.( Gallent and Tewdwr-Jones, 2018)

    Advantages

    • the company are able to enter into new geographical areas.
    • It helps company to increase the sale in the new market.

    Disadvantage

    • getting into new market is always risky for the organisation.
    • It involved lot of money to enter in the new market place.

    Product development: under this strategies, the organisation present new goods and services in to existing marketplace. Here various variety of product are made available to the target market at various reasonable prices to the customer. (Gandee,, 2014)

    Advantages

    • the company knows the taste and preference of the customer so it is easy to give new product in accordance to their taste.
    • The company have existing market to introduce the new goods and services in the market.

    Disadvantage

    • there is a lot of competition in the market who are providing similar goods and services.
    • The company work in the dynamic environment here taste and preferences changes continues.

    Diversification: under this, the company introduce new product and services into new market, here company triers to explore the new market by giving new goods to the customer. Their can be two type of diversification such as related and unrelated. The related one have a good capabilities to expand the business.(Janssen, Luiten and Rouwendal,2014)

    Advantages

    • helps in placing the new product and services in the new market.
    • Expanding the business in next level.

    Disadvantage

    • need of new skills and capabilities to grow their operations activities.
    • It consume lot of time and money.

    Examine the sources of fund for the business and advantages& disadvantage.

    In the context of RGB communication, fund is a essential part of growing the business of the organisation to next or higher level in the company. Fund is required in making investment and make innovation at the techniques which are needed for smooth working in the management team. Some of the sources which are used by the RGB communication are as follows:

    Bank loan: under this type of funding, organisation take loan from the bank to invest money in plan for the growth of the company. Banks has various type of schemes which provide fund to expand the business to different locations.(Jones, Lieberknecht and Qiu, 201)

    Advantages

    • such loans are temporary in nature and gets liquefied once paid off.
    • Such interest rates are deductive from tax.

    Disadvantage

    • organisation have to submit the securities as mortgage item.

    Loan from friends and relatives: here, the owner of the organisation take loan from friends and relative to invest in the business plan and grow their business.

    Advantages

    • there is no interest on such loan
    • owner can take its time to pay back the money.

    Disadvantage

    • such source can refuse to give full amount.

    Venture capital: here, the owner of the company take fund from the investor to invest in the small enterprise and expand their task at next level and also help in completing the activities in the effective ways.(.Liang, Liu, and Chen, 2018)

    Advantages

    • it gives proper advice who invest money in the company at various time in the task.
    • Funds can be given depending on the scope of task.

    Disadvantage

    • the investor has to bear the loses.
    • It have a high risk for starting t=years.

    Personal saving: under this type of funding, the owner of the company provide fund from their own saving to finance the various activities in the operations.Want to get Assignment help ? Talk Our Exper Now!

    Advantages

    • it can save lot of time and money of the oragnisation.
    • Their interest rates are low

    Disadvantage:(MacLachlan, Biggs and Boruff, 2017)

    • the owner have to lesser of its own fund.
    • Organisation have to pay lesser interest amount.

    Give a business plan for the growth of the business.

    Business Plan

    Executive summary:

     

    Business details:

     

     

     

     

     

     

     

    Industry and market analyse:

     

     

     

     

     

     

     

     

     

     

    Customer and value proposition:

     

     

     

    Strategies in marketing: (Mehmet, 2014)

     

    • What needs to be included in business plan are discussed.
    • The mission and vision of the RGB communication are stated.
    • The organisation is offering various different type of product and services.
    • To expand the business strategies by the 18% by the 2025.

     

    • the RGB communication has a larger scope in the different marketplace.
    • Growth rate is higher in coming years and in various marketplace.
    • Organisation is focus on offering various kind of goods and services in the target market.

    Information technology is a target market.

    • The company have a nice brand image about the product and services offered by them in the marketplace.
    • Focus is a to provide various different goods and service in the marketplace.
    • They charge reasonable prices from the market.
    • Research is conducted to provide information about the customer taste and perfernce4s .
    • To have a effective relationship in the long period.
    • The company have a staff around of 45 management team in the team.
    • Have a proper capital structure as it involve 70% owner fund and 30% from another resources.

     Examine the exist and succession option for the medium and small businesses.

    Management buy in: under such source, the management team who are from outside of the company give money for the business operations and that management team became the part of the company and share the profits and losses. (Raparthi 2015)

    Advantages

    • Its a new way to raising the fund in the organisation
    • provide fund from time to time.Take Examples of Assignments Now!

    Disadvantage

    • the new management incudes manager who have a profit in the long run.
    • The profit is divided into many member of time.

    Management buy out: here, the management team is from the inside the company who buy the assets and another businesses operation tasks.(Rudolf, Kienast and Hersperger,2018)

    Advantages

    • better utilisation of raw material.
    • All the members are involved.

    Disadvantage

    • the profit are shared according to their share in the company.

    Retirement: under this condition , all the partner decides to retire from the business and winds up the activities in the effective ways and share the profits and loses and exist from the business.

    Conclusion

    As per above discussion, it can be conducted that success of the organisation depends on the having effective growth plan design by the top- level of authorities in the company. The prefect plan lead to have a increase in the profits and focus on expanding the business at different location by following the business plan. The company uses different factors to examine the growth of their business in the long term.( Ruming and Davies, 2014)

    For More - Business And Business Enviourment

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