Why A Person Starts A Business

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

Novartis, a large multinational pharmaceutical company, recently diversified by buying Alcon, in a £24.8bn deal. Alcon is a producer of eye care products such as contact lenses. Google has diversified by investing £124m in a wind power business. To what extent is diversification the best strategy to achieve profitable growth? Justify your answer with reference to Novartis, Google and/ or other organisations that you know. (40 marks)

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:

Growth strategies – It is the strategy which always aims high and tries to get as larger shares in the market as it can.

Businesses grow through their products/ services every time they put a product on the market more and more people will find out about the product. For example Tesco have been using growth strategies as they are expanding with their services, such as Tesco Money, you can now have a credit card with Tesco which people who may don’t

A company with a business diversification consistently grew its profit by developing a diversified expansion plan beyond its core boundary compares to a new initiative. Repeatability allows a company to learn the mistakes made and support the systematic growth of the business a complex process. (Zook and Allen, 2003)

Studying business should help the individual to gain knowledge of how business in our nation and the entire world is conducted, developing in the areas of what business really mean and understanding the framework of business. Enhancing the knowledge base of business is essential in the pursuit of entrepreneurship endeavors. To be successful in business we must obtain clarity and understanding of the foundation of business and utilizing the framework business model, (Ferrell, Hirt & Ferrell, (2009 pg. 09). These tools are guaranteed to equip and arm the individual who is in pursuit of their business endeavors.

“That focus on growth includes a number of strategies CEOs are using in an effort to improve their companies” which are:- 1) Formal innovation processes. 2) Mergers & Acquisition. 3) Risk management. 4) Transforming operating models. 5) Increasing focus on customers.

This strategy pursues new markets and new income sources using vertical or horizontal growth approaches. For example, for-profit

When you are starting a business, it comes with many activities and attitudes. There are other books out there that will tell you to think about how many hours you can work, how much money you need and whether you can handle rejection. Normal people who are starting off will have many doubts and fears, because it is impossible to know everything in advance. "Do I want to make meaning?" this was a very important

Starting a business is very much time consuming and exhausting but it can definitely be worth it. Not everything in life is made to be easy and that should be the reminder when deciding to make a huge life decision. In order to start a business there are many routes to take and different options to consider. Making the decision to start a business should not come over night but rather a well thought out plan that involves many tough decisions. As with any decision, it is in a person’s best interest to carefully consider based on the pros and cons of starting a business during today’s market. Carefully examining the pros and cons is essential and should not be taken lightly. In the business world, there are countless factors that contribute to a successful

Diversification – By exploring and developing strategies to incorporate variety and diversify their product line to attract larger pool of customers, e.g. introduce new flavors.

You are considering starting your own business when you leave school and are keen to start researching ways to achieve business success. You have decided to start your research by investigating a well-known entrepreneur. You are required to share your findings with your class in the form of a keynote address.

Two major ways in which a company can grow are increasing competitive advantage or joining a business conglomerate. In the first way, the company wants to gain the market share by competing with business rivals in order to gain more customers or market-share. From that, the company can increase revenues and return on investment. The company can increase the number of units sold when it increases the number of clients and frequency of purchase. From that way, it increases how to add value. It provides a value-add benefit to improve customer relationship. Hence, it fully understands how to interpret, define, quantify the value it receives from products and services.

The business type I have chosen to do is purchase a new business as a sole trader in City of London as it is an area that has many universities nearby and the reason why I am choosing to start my own business from scratch is that being in a partnership or franchise can lead to lots of decisions being made that people don’t want, you don’t have any say on what you want to change about the business and you don’t have control.