Alternatives an Organization Must Consider to Realize Growth

Business and Marketing
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2nd August 2015.
For any company or organization, growth is fundamental. This is just to mean that the essential part of a company's existence is its business appropriateness, its economic value and overall relevance on the financial platform. A thriving business is a business in growth. It is bound to attract more capital, more investments and more talented and productive employees, which ensures that its growth is only made more rapid. In the case of a declining company, the converse is true. There usually comes a time when even the positively growing company hits a plateau, where there is no substantial growth .This calls for a change in tact, or a review in the strategies used by the company to ensure its growth. This paper is going to delve into this, address a number of alternative strategies that a business can take in order to achieve continuous growth over time, to enhance its prolonged sustainability in the industry.
First, the company should go back to the drawing board and recheck its strong points. The company must go back and look at what initially made up its core, its heart. The previously assumed aspects that the company took for granted need to be put into question. A careful review of the strong points will help the company realize that maybe; these strong points are no longer as strong as they initially were, when compared to the current business environment. This is because, the markets are ever dynamic, and therefore, there is the main aspect of change that the company structure needs to embrace as well (Perkowski, 2004).
Secondly, the organization needs to relook and review its business. In this case, the organization should pay attention to what kind of business it does, the kind of products or services that it produces, and how it is done. Additionally, the organization needs to go further and review its market, to have a detailed analysis of its customers, present and past, and those that is planning to cover in the future. The big mistake done by companies is that they focus on what they give out to the clients mostly, without looking at whether the needs of the client have been properly and completely satisfied. A better review of the business should be by looking at the whole arrangement from the needs of the clients, to see whether their needs are being fully satisfied or not. To see whether they might be in need of some adjustments as well.
The organization should also look at its basic business strategy. This is almost the same as the review of its business .How...