Growth Strategies to Achieve Competitive Advantage Essay

Growth Strategies to Achieve Competitive Advantage - establish ExampleBusiness growth is nothing but a double-edged sword. If it is well managed and properly controlled, it would decidedly provide remarkable rewards to the sh beholders as well as to the leaders of the emerging organization. But when growth is uncontrollable and poorly planned it might dissolving agents in financial misery and failure (Sherman, A. J. July 13, 2006). Effective planning and circumspection are crucial for sustaining the growth for a long time. Lack of effective planning and management would result to attack by the creditors, competitors, creative takeover specialists and hostile employees. The central question that needs to be asked regarding this outlet is what strategies ought to be followed in facilitating growth. Apart from this central question, there could be various sub-questions which would be associated with the business anatomical structure, availableness of the capital, time and market condition. The central question focus on the strategies that are required for growth. Without proper strategy, no management can keep the organization on the growth track. These strategies would be based on the structure of the organization, availability of the capital, time and market condition. As a result, these factors would be the main focus of the sub-questions. XYZ power public-service corporation bon ton is operating in a developing state of Southern Africa. The company is a state-operated company as a result, there is lack of efficiency in companys operation. There could be various growth strategies for such a company. Ansoff matrix is one of the most useful growth strategies which are widely used in the industry. There are four strategies in Ansoff matrix. These are market penetration, output development, Market development, and diversification. In market penetration strategy organization tries to grow with its animated crossway at bottom its existing market. In prod uct development strategy firm introduces a new product in the existing market. In market development strategy firm identifies a new market for its existing product and finally in diversification strategy firm introduce a new product in a totally new market (Valuebasedmanagement.net, n.d.).