Planning for Growth
Table of Contents
INTRODUCTION
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1
TASK 1
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1
P1. Key considerations for evaluating the growth opportunities
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1
P2 Evaluation of growth opportunities by applying Ansoff's growth matrix
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4
TASK 2
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5
P3 Potential sources of funding and their advantages and disadvantages
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5
TASK 3
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7
P4 Designing business plan for growth of organisation
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7
TASK 4
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9
P5: Succession and exit plan for small business with its advantages and disadvantages
.......
9
CONCLUSION
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11
REFERENCES
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12
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
