Planning perform very important role in the growth and success of enterprise activities. It aid in determining of factors and making policies according to market situation. Use of policies made by companies contribute in accomplish of work and its objectives (Planning for growth, 2017). Adopting of digital technology, it gave huge impact on operating of enterprise as well as innovation ideas within the workers. Fizzy fast food restaurant which gives their services in United Kingdom. Major purpose of this organization is to make a plan and apply of digital technology for the growth of enterprise operations. In present report, it covers the companies growth opportunity because of applying digital technology. Various sources of funds will be analyzed which firm can use for starting their business along with that this also state its advantages and disadvantages. Along with, the report will prepare a business plan of the organization.
P1 Key considerations for evaluating the opportunity of growth
Fizzy fast food restaurant is an organization which gives several products and services within the market of United Kingdom. It will aid in achieving the competitive benefits and capturing the marketplace. Organization will assist in attracting lots of buyers towards their fast food which will enhance the profits and sales. It will provide the chances of growth of enterprise operations in many others locations. Applying of digital technology will gave a higher level of contribution in business growth of small enterprises. It gives chances of developing a new fast food dishes according to buyers taste by adopting new strategies of marketing. Their are some of major opportunities of growth which are available for Fizzy fast food restaurant because of applying digital technology are as follows:
Companies management are making plans for applying digital technology at a time of performing business activities. Each department are getting advantage because of using latest technology at their workplace (Barbour and Deakin, 2012). Manufacturing department is having an opportunity to improve the fast food quality as well as use innovative ideas for making the dishes according to buyers taste. Department of marketing can use the latest marketing tools such as internet and social media which will cover the large areas of marketplace. Similarly, other divisions such as HR, operational and workers also get the advantages of using latest technology. It will aid in giving their best productivity or performance as compared to their rivals and help in achieving the competitive benefits.
New products and services:
Applying of digital technology will aid in improving communication within workers as well as make a strong relation with their buyers. It will aid in understanding the latest trends of fast food within marketplace and customers taste of nation regarding selection of fast food dishes. It aid in knowing the demand as well as developing of new fast food dishes according to customers taste. Creating an innovation within workers aid in developing innovative ideas and skills which identify new methods of delivering goods and services (Ziari and et. al., 2012).
Their are having a large numbers of opportunity of growth which are available in the form of strategic alliance, acquisition, joint venture, merger etc. This can assist in operating business activities significantly with another organization portraying better recognition and goodwill of company in marketplace. This enable the access of latest technologies to Fizzy Fast Food that help in carry out efficient production method in their food products
It is a tool that is used by the company to analyse the external environment affect on the company. There are some factor of this analysis, they are as following:
Political: It is related to the political factors such as government policy, political stability, foreign trade policy, tax policy and labour law etc. that affect the business of Fizzy fast food positively or negatively. For example, the organization launch any new product and the government make changes in its policy that affect the business of the company. Get Assignment help at an affordable price.
Economical: These factors a have significant impact on the business and the profit or economic condition of the company. They include economic growth, interest rates, exchange rates, inflation and others. For example, if the company bought raw material and ingredients from other country to make products and change in the exchange rate or inflation condition of the purchasing country. This affect the business of Fizzy fast food.
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