Planning for growth
Introduction
The assignment includes strategies for gaining competitive advantage of the SMEs; the Poter’s Generic theory is used for explaining the strategies for competitive advantage. In this assignment the Ansoff’s vector growth matrix is used to plan the growth for the SMEs. For portraying alternative corporate growth strategies, Igor Ansoff introduced a matrix, which only focuses o the existing potential products and market of a company. Furthermore, it includes the benefits and drawbacks of the funding investments. The assignment also includes the business objectives and goals are included in a business plan. The business planning for Skyes hotels include its vision, mission and business objectives. It also includes a SWOT analysis, a budget plan and a marketing mix. Lastly, it includes, exit strategy or a succession plan for small businesses, as it plays a very important roledd image of my company I am doing with sauces
LO 1
P1: Analyse key considerations for evaluating growth opportunities and justify these considerations within an organisational context.
The position of an SME firm within its industry establishes if the probability of the SME firm is below or above the industry standards. A profitability of a firm is maintained only if the organisation can maintain a sustainable competitive advantage.
Competitive advantage
Following are the strategies that can be adapted by the SMEs for gaining competitive advantage:
The SMEs can implement innovation by introducing new products in the market.
SMEs must maintain and enhance their operational effective strategies by doing what they are best at.
The SMEs must implement advance technologies for increasing customer satisfaction and gaining a competitive value in the market.
This can be linked to the generic strategies for achieving the performance level as per the industry standards, such as cost leadership, differentiation, and focus. The Poter’s generic strategies for competitive advantage are explained below:
- Cost leadership:
A SME firm must focus on being a lower cost manufacturer in the industry. Source of competitive advantage is dependent upon the formation of the industry. They should include economies of scale, proprietary technology and preferential access to raw materials and many other factors. By sustaining overall cost leadership, it will act as an above average performer of the industry. This will also help the company to command prices near the Industry standards (Porter, 2011). - Differentiation:
The differentiation strategy will endure a SME company to be exclusive in its industry and with some dimensions, which are highly appreciated by the buyers. The industry needs to increase the target market and fulfil their needs, as this will help the company to make a unique position of it.
Business Plan For SME Enterprise
1.0 Executive Summary
SME Enterprise represents a contact centre for in-bound and outbound calls along with telemarketing services.SME International is already a well-known organization in the world and it will be beneficial for them to open a contact centre in Dubai. As Dubai has created an impact in the IT industry too; it will be quite beneficial for SME International to collaborate with a contact centre for telemarketing their services.It will be a brand new contact centre which is scheduled to be located in the free economic zone called Dubai Internet City.
This is a solution of Business Plan For SME Enterprise in which we discuss SME Enterprise.
Introduction
SME Enterprise represents a contact centre for in-bound and outbound calls along with telemarketing services.SME International is already a well-known organization in the world and it will be beneficial for them to open a contact centre in Dubai. As Dubai has created an impact in the IT industry too; it will be quite beneficial for SME International to collaborate with a contact centre for telemarketing their services.
It will be a brand new contact centre which is scheduled to be located in the free economic zone called Dubai Internet City. SME Enterprise will also be involved in the taxation related services. Initially, PESTEL and SWOT analysis will be carried out to know about the current status of the company and know if it would be able to stand out in the marketplace.More Know About:- Computer Software Assignment Help
Thereafter, market research will be carried out by interviewing different personnel from renowned contact centres. This market research will lead to many stipulations which were confirmed before the business establishment. It will also be noted that the business will be undergoing loss in the first two years but it will recovered positively in the third year.
The company has decided to keep the manpower of 22 people for the first two years and then, in the third year; the manpower will be increased to 30. Initially, privilege will be given to the marketing and advertisement with adequate funding and opportunities so that the company can create a base.
The net present value of the company for the first 3 years will be negative but it will be recovered as the time increases. All in all, the company is looking forward for the long-term establishment in UAE.
Company Summary
Various companies have set-up their own contact centres for their business reasons for meeting their requirements. These needs are related to the deliverance of particular functions with partial or almost no future plan which is supposed to be in compliance and in synchronization with further enhancements.
These organizations also get stuck with the provision of minimal fundamental services for end customers. Now, SME International is looking forward for expansion with a long-term vision. Therefore, they have decided to create a joint venture with the contact centre for conveying information about their services to clients.
There are constant updates in the contact centre industry due to the factor of technology which makes it totally difficult for companies to anticipate changes and get updated. It is also difficult to manage the manpower and find the skilled staff.
The brand new concept of Burned Agent makes it quite crucial for different companies which are particular small scale integration companies. There is another factor of consideration which stays in the form of the cost for all the small scale as well as medium scale businesses. It is a very challenging factor for the organization.
Most of customers for the company will be those firms that need high level of communication between each-other along with their clients too. Therefore, the expected customers are anticipated to be related with medical services along with those companies that are willing for outsourcing their first-level support for the help desk.
By concentrating upon such market segments like these with definite and specific requirements; SME Enterprise will be capable of serving their clients in a better way. They will also be able to provide top-notch services which are quite effectual than various other call centre organizations.Read More About:- Computer Systems Development Assignment Help
Vision
SME Enterpriselooks forward towards providing their clients with top-notch call centre services round the clock. This company thrives to offer premium quality services which will be delivered in a cost-effective and timely manner.
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