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Business Growth Strategies

The most successful approach to growth is an integrated one. Sustainable business growth strategy is a practical approach to achieving top-line growth and bottom-line results. The business owner and management team must examine all functions of the enterprise to ensure they are working together to reap the benefits of expansion. Increasing sales in an existing market is one of the easiest ways to grow your business. The key to successfully increasing your sales in an existing market is to know your customers’ buying histories, both generally and individually.
Planning for growth is a primary management task. It enables you to understand the full impact of growth on your business, so that growth continues without major internal setbacks.

Market Strategies
This includes the company's relationship with existing and potential clients or customers, its knowledge of changing needs and opportunities in the market, the way it identifies and reaches its clients/customers, the quality and speed of service it provides, marketing, advertising, and the selling and management skills its possesses. Marketing strategies Evaluate new opportunities in the market in terms of acquisitions, new products/services, collaborations with others.
Marketing strategies helps in improving marketing materials, advertising, trade shows, direct mail, market research, public relations. Along with that also improves sales staff in increasing their selling time, increase their numbers, increase their knowledge, skills, engage sales reps, distributors, enhance customers' knowledge of what's offered; etc.

Products & Services Strategies
This component refers to the capacity of the company to deliver products and services. It includes quality of products/services it markets, the technical knowledge and skill of sales and service staff, and the level of technology incorporated in its products/services and utilized to carry on business. It introduces new or improved technologies internally that will improve the functioning of organization.
This strategy mainly identifies and adapts new technologies to better meet the needs of our customers and also work closely with vendors to introduce new products/services. This makes clients/customers happier by making employees happier. This implements the value "Quality" in every possible area and also improves the technology of our products/services by adding one new dimension to it.

Organization Strategies
This is the component that holds everything together and forms it into a living whole. This strategy consists of the structures, systems, policies, procedures and activities of a business, the manner in which it exercises authority, takes decisions, communicates, coordinates and integrates its activities. This strategy analyzes the jobs of executives, managers, and supervisors to identify tasks that can be delegated to lower levels and the conditions necessary to make that delegation effective.

Organization Strategy establishes clear job descriptions for every position, and creates a system whereby the responsibilities and authority of each position are clear to other people in the company and also tries to coordinate and integrate any two systems to create a powerful organization.

People Strategies
This component covers the energies, abilities, skills, and attitudes of employees that can be harnessed for growth. People and companies grow together. Those companies that provide maximum opportunities for their people to grow find maximum opportunities for their own growth. Strategy reviews wage and salary scale, and ensure that the compensation for every position is not only fair, but perceived as fair. Whenever necessary, educate people to understand the true value of the company's benefits package.

This helps in defining clear paths for career development in the company and put in place an effective performance appraisal system to evaluate people's performance and help them to acquire higher level abilities and develop the physical and technical skills of people through formal training programs.

Finance Strategies
This component defines the way in which the company manages monitors and utilizes capital resources for its growth. It includes the quality of systems and skills for accounting, budgeting and financial management, cash and credit management, control over purchasing and inventory, access to capital.

This strategy determines what can be done to improve accuracy and timeliness of accounting so that information on performance is available as soon as possible after the day; week, the month, or the job is over and also determines how company can utilize financial information as a positive instrument for tracking and monitoring performance on key activities. This helps in keeping expenditure within or below budgeted levels.

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