Planning A Business Expansion, Case: Doc Consultation J. Koskinen
Vaarala, Yachai (2022)
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022091220067
https://urn.fi/URN:NBN:fi:amk-2022091220067
Tiivistelmä
The purpose of this thesis is to find out how to plan a business expansion for a small consulting firm in energy industry. The client of the thesis is Doc Consultation J. Koskinen, a private trader company, which is specialized in technical documentation and project management. The business focuses on a niche market. The business owner wishes to increase company’s market share by adding an employee to the business. To turn her idea into reality, the qualitative research was conducted to understand the nature of case company’s business, its target customers’ needs and their methods of selecting a supplier. There is no greater danger than expansion without great forethought and planning.
This thesis focuses on implementing strategic business development tools to turn the expansion idea into a concrete plan. The theoretical part of the thesis combines the key concepts related to business development: business growth strategy, business model canvas (BMC), service marketing mix, and business plan. The chosen strategic tools for expanding a business are the BMC and business plan. The empirical part of the thesis was conducted with three semi-structured interviews. One semi-structured interview with business owner and two semi-structured interviews with existing customers. The collected data was analyzed and implemented into both business model canvas and business plan. Market analysis was conducted to determine the competitive advantages of the case company and to improve marketing strategies to boost business growth. Forecasting of future revenue and expenses was also done to estimate how much money the new employee will bring in and how much money the company requires for additional resources and activities.
As a result of the thesis, the expansion idea was turned into a feasible plan. The existing business model was documented and modified to fit with the chosen growth strategy. The expansion plan was developed around the modified business model, marketing mix and financial plan. It consists of key components: executive summary, business description, products or services, market analysis, marketing mix, management summary and financial plan. The financial statements in the plan show that the business expansion idea is viable and profitable.
This thesis focuses on implementing strategic business development tools to turn the expansion idea into a concrete plan. The theoretical part of the thesis combines the key concepts related to business development: business growth strategy, business model canvas (BMC), service marketing mix, and business plan. The chosen strategic tools for expanding a business are the BMC and business plan. The empirical part of the thesis was conducted with three semi-structured interviews. One semi-structured interview with business owner and two semi-structured interviews with existing customers. The collected data was analyzed and implemented into both business model canvas and business plan. Market analysis was conducted to determine the competitive advantages of the case company and to improve marketing strategies to boost business growth. Forecasting of future revenue and expenses was also done to estimate how much money the new employee will bring in and how much money the company requires for additional resources and activities.
As a result of the thesis, the expansion idea was turned into a feasible plan. The existing business model was documented and modified to fit with the chosen growth strategy. The expansion plan was developed around the modified business model, marketing mix and financial plan. It consists of key components: executive summary, business description, products or services, market analysis, marketing mix, management summary and financial plan. The financial statements in the plan show that the business expansion idea is viable and profitable.