Aimed at winning larger market share, even at the expense of short-term earnings.
Growth Strategy is aimed at winning larger market share, even at the expense of short-term earnings. There are four broad growth strategies: diversification, innovation, market penetration, and market development.
It is said in business that we are either growing or dying. Companies that do not grow eventually fall to competitors who are taking market share and more importantly building relationships with the very clients that you could have had. There are many benefits to having a larger company such as more revenue to invest in profitable projects or the ability to sustain short term setbacks.
Not all growth is good growth. If you grow too fast there will be cash flow issues and many growing pains. If you grow too slow, you might be out of business before you know it.
MindStorm will show you how to achieve the perfect balance of growth and help you maintain it consistently. Not too fast, not too slow- just right.
There are four main strategies for growth:
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