Q Assignment states that planning of strategic business requires knowledge of various aspects in relation to many factors Home, - PLANNING FOR STRATEGIES OF FUTURE BUSINESS Introduction Effective business deals with various strategies based on customer engagement. However planning of strategic business requires knowledge of various aspects related to technology, employment, management and others. However, it has been observed that most of the business this on planning strategy for future expansion of business in an effective way. In this context, this research paper deals with various techniques of expansion for better performance. Moreover, ways business can develop analysis of various factors in order to identify barriers while expansion of a business is focused in this research paper. In addition, ways legislation can be implemented for recruitment procedures along with management of employees is focused in this research paper. Task 1: Preparing a business plan 1.1 Explanation of the effective methods for expanding business by educational establishment in UK In order to plan for future strategies for expanding of business, knowledge of various based on business expansion is required. As an assistant project officer in Educational Institute, it is necessary to identify location for opening of the branch. However, it is necessary strategies in such a way that be benefited from the business along with its profit growth. As mentioned by Keeble and Wever (2016), business expansion requires analysis of various methods and procedures in order to deal with market segments comprising of staffs, customers and others for expansion within an organisation. According to Chaudry et al. (2014), analysis of these factors helps in development of new services and products along with attracting new customers with the existing ones. In addition, this helps in drawing partnership in order to ensure successful result for business strategies. Procedures used for expansion of business deals with the following: In context to educational establishment, development of various services and product by the institution helps in increasing the amount of sales along with attracting customers to buy the product. This also helps in increasing the sales of the business. According to Xi et al. (2015), expansion of new business requires good position for setup along with development of pricing strategies with newer marketing methods and techniques. It is necessary for business to identify the importance of proper positioning of product or services in order to enable value along with requirements of the customers. From analysis it can be observed that most of the business is focus on strategies based on identifying target customers in order to increase profit of the revenue growth. However it can be identified that healthy relationship with customers along with stakeholders in business helps business to develop in an effective manner. As asserted by Klettner et al. (2014), business practices based on good engagement with the stakeholders helps in investors to invest in the new project plan. This helps business to expand in an effective way along with developing a good relationship with the customers and stakeholders for further growth of business. In order to develop new market segment, strategies based on pricing with new marketing techniques and methods is required. However, loans provided for equity investment for new project is also an important aspect for expansion procedure. According to Ward (2016), understanding of the budget is of business is required for developing effective business strategies. Education institution can also provide chart for effective management of stuffs and customers. This can be done by proper training to the workers in order to create opportunities for enhancing the skills along with knowledge. As examined by McKeever (2016), in order to start a new franchise, licensing of the franchise is an important aspect ensures rights of manufacturing, production and distribution. It can be emphasized that businesses follows these steps in order to maintain effective licensing of business processes. This in addition, helps in organisational efficacy along with expansion of business to increase capital (learn.org, 2017). Moreover proper implementation of the steps helps in reducing the cost of expenditures. Another way for expanding business deals with inculcating international business. This provides an analysis of effective market growth along with increasing the spending level of customers by the help of exportation, licensing and joint ventures. In context to the opinion of Ramanathan and Gunasekaran (2014), it is necessary to understand the customers need in order to gain profit outside country as well. Moreover, implementation of various legal bodies, rules helps business to guide towards expanding business (learn.org, 2017). Here is the business plan for expansion: Business plan for ABC College Summary of business: the college is being running in the streets of Birmingham area from past 10 years. The College offers various courses for students and is funded by local authorities. However, the facilities include 3 classrooms with equipped data computer lab and other resources. Aim of business: To expand institutional operations in various new location by offering master courses Financial summary: Local authorities provides fund to the college to run courses. Selling objective: Funded Master level courses Types of services or products which are going to sell: Various other courses apart from master courses such as area of business, travel and tourism, social care and others are being offered. Typical customers: Learner who requires better qualification and improve job prospects Customer’s origin: Europe and local Competition However, competition is not many due to not so many establishments get funded for master level courses. It is necessary to highlight the unique pints of university in order to ensure more sales, professional staffs and services. Findings from the study From research, it can be observed that learners demand for Mater level for enrolling themselves in university. Facilities required for starting operations Building with minimum of 3 classrooms, learning resources, 7 teachers, 5 support staffs, computer lab and research centre. Legal requirements: College requires registering with relevant courses in order to develop partnership with funding agencies. However, registering with local authorities and government agencies is also required. Financial forecast of the expenses are: Staff salaries: £5000/m Resourcing facilities: £10000 (fixed) Overheads: £1000/m Rent: £1000 per month Total: £17000 Revenue Funding received: £8000/m 1.2 Making an assessment for business against performance indicators Newly developed educational institutions such as school, college and others depend on budget and amount of sales done. As explained by Leonidou et al. (2015), it is necessary to review overall operations and processes in order to ensure proper business environment, considering internal and external factors. As asserted by Mithas et al. (2013), analysis of external and internal factors helps in understanding financial performance along with strategic performance for the organization. In addition management of budget is an important aspect for business that requires attention for developing new educational institute. However, budget helps in estimating financial measures alone with effective outcome thereby determining cash flow for 12 months forecast. This will also develop a accessibility to financial facilities. According to Blackburn et al. (2013), profit growth helps in identifying increase in sales and reduction in expenditures. However, key performance indicated could measure and determine business prices in an effective way. As mentioned by Ramanathan and Gunasekaran (2014), innovation of services or products leads to provide new ways of learning within educational institution. Moreover, this will develop better access to business plans that are going to be acquired by business for effective operations and customer satisfaction. Therefore, it can be concluded that analysis of this helped in assessing business success against performance indicators. Task 2 Continuing with scenario prepared for documentation of the following tasks 2.1 Conduction of SWOT analysis for expanding business and to ensure growth From analysis it can be observed that expansion of business from both locally as well as globally requires identification of weakness and strength in order to carry strategic planning for successful business environment. However it can be observed that SWOT analysis for organisation helps in understanding strength opportunities weakness and threat business expansion Strength: 1. Previous performance of organisation that result in better relationship with agencies is an effective measure for business 2. Courses offered where unique such as master courses 3. Location of the educational institution 4. Staffs working within the organisation possess high skill and knowledge Weakness: 1. Increased level of Expenditure and flow of cash 2. Lack of library resources such as books offered for courses Opportunities: 1. Various opportunities regarding services offered by Educational Institute with high competition level, leading to result in providing better services along with reasonable cost structure is an opportunity for business. Threats: 1. Decline of the economy leading to spend more time on job and less in education However, analysis of the SWOT, helped in identifying the essential components for expanding business in an efficient manner along with improving efficacy of the business strategies. 2.2 Identification of the barriers, skill shortage and growth within an organisation From analysis it can be identified that in order to establish educational institution in new locations, it is necessary for business to identify target people with relevant knowledge and skills to perform in a committed way. According to Bentley et al. (2013), lack of knowledge or skill within the workers working in an organisation leads to create barrier for effective growth and Business expansion. However, it can be identified that business need to focus on efficient workers in order to gain growth along with effective guidance for improvement. In this context, it can be identified that finding most suited candidates through recruitment agencies is important for business (learn.org, 2017). However it can be observed that the project is being undertaken due to providing educational opportunities to the local people by guiding them with further education. However, we observed that qualified staffs demand for higher salaries. This, in turn, increase expenses for the school. In addition, it can be observed that competitors who are already established have high qualified local professionals. This is another aspect for business to struggle for finding efficient staffs. However this provides an analysis of those modifications for prevailing trend to gain fair share. However, in context to the opinion of Keeble and Wever (2016), improper location is another aspect for business that creates barriers for business expansion and growth. Hence, before expanding a business it is necessary to identify the proper location for establishment of business. Task 3 3.1 Outlining legislation relevant to employing others according to the scenario From analysis, it can be observed that employment of people is an important aspect within an Educational Institute. However, the process of selection and recruitment includes various rules, regulations, legislation and guidelines. As mentioned by Klettner et al. (2014), Equality Act 2010 deals with employing new individuals by focusing on providing a legal framework. This, in turn, prevents discrimination based on religion, age, race, gender and others for employment procedures. In addition, Equal Pay Act 1970 provides paying of equal wages to the employees in an organisation. Further, Fair Work Act 2009 developed a good system for people working efficiently within an organisation in order to increase economic growth and productivity. As asserted by Leonidou et al. (2015), Workplace at 1999 provided equal opportunities for women in order to promote female workers and provide equal opportunities. 3.2 Outlining legislation in context to Staff welfare Health and safety in workplace is an important aspect for business while expanding an organisation. In context to opinion of Grant (2016), it can be observed that various acts has been established for health and safety measures in workplace. This Act helps in protecting safety of workers along with their health within a newly established institution. Moreover, it leads to prevention of risks along with exposure to hazards. However, it can be observed that implementing legislation act in workplace provides fair practices along with maintaining equal responsibilities and duties within an organisation (learn.org, 2017). As an assistant project officer, I would try my level best for implementing all the rules and regulations in order to protect people from risk or hazards. This will allow ensuring safety of workers within educational institution. In context to the opinion of Blackburn et al. (2013), implementation of Health and safety workplace provides employees and employers to maintain healthy workplace. This, in turn, prevents misconduct of behaviour with the employees in an organisation. 3.3 Describe the recruitment process for a business After effective determination of the feasibility study of business, it can be said that it it is very essential to expand the business with the help of effective recruitment of staff. There must be relevant skills and knowledge that are possessed by the employees so that organisation can develop and positive outcomes can be achieved. In order to have effective number of employees and right candidate, it is very necessary to advertise about the job roles for this. Organisation must provide job description, job specification, qualification in a detailed manner so that confusions and misunderstandings can be avoided later. Descriptive and detailed job advertisements help in the process of getting correct number of attraction from the candidates. The procedure starts with submitting the resume on the basis of which suitable candidates are called for interview process. Candidates are also allowed to take part in Aptitude Test, psychological, psychometric test after with HR sessions or interview session are followed. The employees are candidates who pass these tests are successfully employed within the organisation (Al-Qudah et al. 2014). • Recruitment planning consists of specifying the job roles and defining the experiences and the skills that are required in a very effective manner • The next follows the strategies that are required to be developed in organisation, to identify the kind of requirement techniques, which will be applied as per the geographical location along with finding of various sources of recruitment • The previous step, is effectively followed by the recruitment process which attracts talents from across the regions with the help of effective advertisements • The process of screening helps in the entire procedure of reviewing the abilities areas of interest qualifications and skills of the candidates • The final step deals with the evaluation and control of the expenditure which in curd in the process of recruitment and paste of wage salary of recruitment expenses Outsourcing time taken analysis and many other procedures are considered in order to identify the cost incurred in recruitment process (Al-Qudah et al. 2014) Task 4 Preparing a report on 4.1 Explain how to manage staff in a business with focus on Performance reviews; motivation and retention; rewards; training and development Employee management will mainly done by the human resource manager. Human resource manager has got an effective role in the process of recruitment of individual within the workforce. Human resource manager is also in charge of the performance review techniques through the means of which the human resource manager performs effective performance appraisal in order to evaluate the performance of the workers. This is very much done in order to develop the career of an individual and also to make sure that employees are performing in a very effective manner so that it gets contributed to the development of an organisation. The performance appraisals are done through the medium of effective performance monitoring sessions in, which performance are checked and are matched with many matrix, according to which the employees are also provided with benefits and incentives. As per the case studies, it is very much required to hire relevant knowledgeable and skilled employees so that they can teach the students and also called them in the correct direction. In a very different manner it can also be said that the staff must be well aware of the transaction and management of the responses of the customer so that they can develop. Employment management helps in students and managing the performance reviews. This has proven to be very helpful in promotion of effective communication improvement of focus of the workers, setting up of goals and also in identifying the requirements of training and development. Motivating of staff is effectively done through the means of praising their performance at providing them with effective benefits and incentives based on their performance. Increasing of the wages can also effectively motivate and encourage them to work harder so that they can ensure that they get more benefits. Training and development also plays a very important role in order to make the employees most skilled and knowledgeable. This is done by the assistant project officer who plans the training based on the lacking as per performance evaluation. The training helps in the process of employing identifying their weaknesses and working upon them these are the few ways in which the education institutes in UK can be effectively managed and productivity can be increased (Sabiu et al. 2016). Task 5 Preparing a report on 5.1 Providing suitable options for growing a new business There are several different options for expansion of the business at the same time to make sure future growth and development is achieved. These applications are required to be done in order to grant and assist research fellowship some schemes of incentives salaries along with proper business operations to run in a specific area. In order to effectively expand business can also in take the strategy of acquisition or merging with other businesses. In majority of the case is it has been observed that franchisor helps in the process of capitalizing the existing base of customers. It also helps in the process of attracting as well and retaining new customers. The capital that has been raised will effectively help in the process of growth and development business should also involved financial advisors in these sectors so that business operation can run in a proper manner. The services can effectively be provided for the means of online or through the means of social media so that many people will get attracted towards purchasing of services and their organisation will be more flourished and it will prosper. The strategic planning and techniques are required in order to make the product and service launch to be more innovative. At last the improvement of customer service is very much required at it helps in increase of sales and in curing of more customers. These above recommendations are provided by me being on the post of assistant project officer (Al-Qudah et al. 2014). Conclusion It has been observed that various kinds of techniques had been effectively presented in this assignment in order to demonstrate the along impact of performance indicators on business like the budget and prediction of sales in the future too. It can be said that the SWOT analysis has effectively helped the process of removing the barriers, which were encountered like lack of skills, finance, etc. The legislations like Equality Act 2010, safety, health and welfare at work ACT and many others have also been utilised so as to make sure that discrimination are prevented.