There are two basic ways to increase profits: either increase sales or decrease costs and expenses. The first option is about business growth, and the second is about managing for greater efficiency. Ideally, as you plan for the more distant future, you will be concerned with both. This chapter is about making more profit through business growth. Think of a small business you are familiar with, and complete the Strategic Growth Plan Assignment. Start by giving a short narrative on the business you have chosen; give details of any information youve created/assumed. Be creative and realistic. The goal of this course is to give you a basic understanding of the considerations involved in the successful operations of a business. Emphasis is placed on the theory and benefits of good business management practices and the benefits of basic business knowledge. The suggested marking scheme for The Strategic Growth Plan marks the plan out of 20 points (since roughly 20 separate pieces of information are required from the student). Each plan starts out with full marks and points are deducted in three categories: The points of information required are: 1. Brief outline of the history of the firm. (3) 2. Listing of obvious internal indicators of decline. (2) 3. Estimate of the current market potential for each product/target group. (2) 4. Significant changes in direct competition. 2 5. Significant changes in indirect competition 2 6. SWOT strengths. 2 7. SWOT weaknesses. 2 8. SWOT opportunities. 2 9. SWOT threats. 2 10. Growth strategy outline. 3 11. Growth tactics. 2 12. Growth costs. 3 13. Revised Sales Forecast. 2 14. Identify sources of growth finance.3 15. Analysis/rationale of financing. 3