Discussion about the Growth Strategies Available to Entrepreneurial Ventures

When the business is getting larger, the business term for it would be expansion. Big brands like Tesco expand day

Market development is when a company is using an existing product but is marketing it in a new market such as other countries. This increases popularity for the service and the company.

Firms must consider many strategies when attempting to realize growth. Depending upon the stage of

Diversification involves taking a new product or service into a new market; this strategy is notably the riskiest as the organisation has to carefully research the market and plan the launch of the product or service. Due to the risk involved, a public sector organisation like the NHS cannot afford to take the associated risk, but the NHS does compete in one whole new market in catering and weight loss. Here the aim of the NHS is to provide weight loss menus, but their USP (unique selling proposition) is associated with health.

Stages of business growth theories see the development of an organization as a process with several stages and try to understand the features of different stages and the accompanying problems. All the models try to solve the following three big questions: How to mark the stages of business growth? How many stages the business experiences in its development? What are

Growth – The process of improving some measure of an enterprise’s success. Business growth can be achieved either by boosting the top line or revenue of the business with greater product sales or

Growth Strategies – is a strategy aimed at winning larger market share, even at the expense of short term earnings. These consist of 4 broad growth strategies:

The Nine –Cell industry attractiveness/business strength matrix graph will have the industry attractiveness on the vertical axis while the competitive strength is depicted on the horizontal axis; to the far left corner will be a large bubble representing U.S. grocery and the U.S. snacks, indicating that the U.S. Grocery and the U.S. snacks have both favorable industry attractiveness and competitive strength and thus warrants priority attention. In addition, the U.S. beverage, U.S. cheese and the U.S. convenient meals seem to huddle in the 3 diagonal cells stretching from the lower left to upper, indicating they merit intermediate attention by the Kraft incorporated. However, these segments of the company can be profitable if the company

Companies often use a (CPM) – Competitive Profile Matrix to better understand their external environment as well as their competition within the industry they operate. The matrix identifies a company’s key competitors and draws a comparison using the industry’s critical success factors. The analysis also reveals a company’s strengths and weaknesses against its competition, making them aware of problematic areas needing improvement and also areas that are doing well and need to be protected (See Appendix F).

We can already see that with their current expansion into the food delivery business. Instead of partnering with an already existing food delivery service, they are entering that market.

All business needs to take action which helps them keep good position on the market. Before taken any action analysis has to be made. Answers and data which were obtained during analysis can help chose strategies, which help achieve objectives.

When a company grows it achieves economies of scale, it increases its market shares and thus wipes out competition. A company starts making more profits and can use these in constructive ways such as employing specialist workers and improving the variety and quality of products, by delving more into research and development. These are only some of the

The single and dominant business strategy, which denote relatively low levels of diversification, more fully diversified firms are classified into related and unrelated categories. A firm is related through its diversification when there are several links between its business units; for example, units may share products or services, technologies, or distribution channels. The more links among businesses, the more constrained is the relatedness of diversification. Unrelateness refers to the absence of direct links between businesses.

Definition: A business strategy in which growth is obtained by increasing the number of stores in which customers can buy a company 's products and services.

It has also been referred as the Product/Market Expansion Grid, the matrix (see Figure 1 below). The figure below shows four ways in which a business can grow, and help people to think about the risks associated with each option.