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The growth strategy is part of every successful planning process of a certain company. It allows you to clearly define your growth objectives and growth potential and to undertake appropriate actions in order to maximize the profit of the company. This template will enable you to successfully exploit your strengths and opportunities while minimizing the threats and weaknesses.
The Ansoff Matrix is a widely used strategic planning tool that provides a framework that will help executives, managers, and marketers to devise strategies for future growth. The vertical axis represents the market, while the horizontal the product. Depending on whether both of them are new or existing, there are four growth strategies: Market Penetration, Market Development, Diversification and Product Development.
In order for the company to grow successfully, it needs to be improved both internally and externally. Internal growth means that the business will expand based on its own operations and it can be achieved by developing and launching new products. External growth usually happens when a merger or acquisition occurs.
The growth process in order to yield positive results should be often repeated. This means that the company will always engage in new goals set, creating new growth ideas, testing and optimizing those ideas, and end up setting other goals that will additionally enhance the whole process.
The growth strategy is an inevitable part of every successful company planning
With this template you will be able to clearly define the company’s goals and priorities.
The Ansoff Matrix is one of the most exploited tools for strategic planning
It enables managers and executives to devise strategies for future growth.
The company’s growth can be done internally or externally
Internal growth happens when the company improves its own operations, while external occurs through mergers and acquisitions.
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