Planning for growth1.doc - Planning for Growth Table of Contents INTRODUCTION.1 TASK 1.1 P1 Key considerations for evaluating the growth opportunities.1

Planning for growth1.doc - Planning for Growth Table of...

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Planning for Growth
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Table of Contents INTRODUCTION .......................................................................................................................... 1 TASK 1 .......................................................................................................................................... 1 P1. Key considerations for evaluating the growth opportunities ........................................... 1 P2 Evaluation of growth opportunities by applying Ansoff's growth matrix ........................ 4 TASK 2 ............................................................................................................................................ 5 P3 Potential sources of funding and their advantages and disadvantages .............................. 5 TASK 3 ............................................................................................................................................ 7 P4 Designing business plan for growth of organisation ......................................................... 7 TASK 4 ............................................................................................................................................ 9 P5: Succession and exit plan for small business with its advantages and disadvantages ....... 9 CONCLUSION .............................................................................................................................. 11 REFERENCES .............................................................................................................................. 12
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INTRODUCTION Planning for growth is a process that initiates with identifying present competencies of a business and enables to firm to ascertain operations that requires improvement in response to changes that are occurring in market dynamics. Successful are those business that continuously reviews its business growth and keep on making necessary alteration in its strategical plans to ensure it continues to cater its customer's requirements (Barbour and Deakin, 2012). The project is based on a new venture Mystik Glow which is a new cosmetic venture that belonging to beauty and skin care industry. The company deals in wide range of beauty and skin care products. The report will discuss about various growth opportunity that firm strives to achieve by entering into a contract with Primary Care Provider Development and Resilience in London. Further various sources of funds along with their probable advantages and disadvantage will also be explained that company could determine to raise its funds. TASK 1 P1. Key considerations for evaluating the growth opportunities Mystik Glow is a medium scale UK venture that offers a complete head to range of make up and skin care products. Being in a cosmetic sector firm has a wide scope of opportunities to expansion and grow its brand portfolio through introducing innovative and revolutionary products. In recent times customers are extremely conscious about their health and are aware about impact of synthetic and harmful chemicals present in various beauty products on their skin. This has lead to growing need of consumers shifting towards organic or more skin friendly products. This aspiration and requirement have paved a way for Mystik Glow to provide something innovative for catering needs of its target audience that would enable firm to enhance its growth and to diversify its brand name. With this view firm is thinking to introduce a complete range of Mystik Glow foundation and skin care cream that contains pro biotic ingredients and skin micro biota -protective actives that promotes skin's own defence mechanisms and support biodiversity and homeostasis of skin micro biome. This will be one of the new product which is also delivered to the contractor. It is one of the latest technology that is a perfect combination of metagenome and biogenetic technologies (Chapin, 2012). In UK, cosmetic product market is worth of $11.2 billion and is saturated with many competitive brands. Also in terms of market share colour cosmetics constitute 16% and facial make up captures 42% in this industry. Thus, company's new product 1
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