Table of Contents
2.1 Design a business plan for growth that includes financial information and strategic objectives for scaling up a business.
Estimated Balance Sheets.
Successful entrepreneurial strategies.
Segmentations for the proposed business-2019.
Targeting for CityLink Limos Ltd since-2019.
Growth strategies for the proposed strategy.
Scott and Bruce’s model used in the CityLink Limos Ltd’s plan.
Marketing mix strategy for CityLink Limos Ltd.
CityLink Limos Ltd has to expand its business and it is very fruitful for them. In this section, a business plan for growth will be discussed. This section also discusses the mission, vision, aim, and objectives of CityLink Limos Ltd. This section also forecasts the estimation of the marketing budget for the proposed business. This part of the report also mentions the strategies for success in entrepreneurial, market segmentation, the growth strategies for the proposed business. For making plans, this part applies the “Scott and Bruce” model of the business plan. Marketing strategies and marketing mix strategy for the proposed business also discusses in this part.
2.1 Design a business plan for growth that includes financial information and strategic objectives for scaling up a business
· CityLink Limos Ltd’s mission is to give its customers a competitive advantage through superior transportation and logistics services.
· CityLink Limos Ltd will meet and exceed its customers’ expectations of service through prompt communications and quality information.
CityLink Limos Ltd’s vision is to establish its business not only in the domestic area but also all over the world.
The main aim is to attract customers through the best transport facility to customers of the UK.
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The objectives that possess CityLink Limos Ltd are given below:
- To increase net profit by 12% by June 2020.
- To give our customers superior transportation and logistics services within June 2020.
- To enhance the number of customers and customers’ loyalty by 10% within June 2020.
- To establish a business with a better brand image in the UK.
- To increase the profitability and liquidity of the business in the UK market.
Successful entrepreneurial strategies
Palmer (2015) stated that entrepreneurial strategy is a kind of strategy in that a business organization establishes a different essential set of relations with the environment. Entrepreneurs are those who initiate business activities. Their main goal is to attain a market competitive position in the market (Kickul, 2015). But it is not an easy task. Entrepreneurs need to take various strategies for maintaining the market competitive position and become successful. There are two types of marketing strategies that include multiple and single strategies. Both strategies will require acquiring success in business at the start-up as well as a new entrepreneurship business. CityLink Limos Ltd takes the following strategies:……………..