Growth Strategies in Business Management

Overview

What you will study

This Growth Strategies in Business Management course offered by CQUniversity Australia is designed to provide you as a business leader with an informed perspective on these strategies to apply in your own organisations. In-depth exploration of industry examples will illustrate how each strategy impacts the growth and sustainability of an organisation. A description of market penetration strategy will demonstrate how to grow market share, via the sale of more of existing products and services to the same market. Market expansion examples will demonstrate how a marketplace can grow and a company can be involved in selling more goods within that market. Product expansion will be examined through creating new products or services and selling them to their existing market- offering new versions, variations to products and new services. Product expansion is explained through examples of companies staying in the same market. The concept of selling new products to new markets is one of the riskiest strategies, and to do so, companies often need to invest significantly into these markets and ensure that their value proposition and products will be successful. This concept is outlined through case study examples. As both new product and new market are untested, the result can lead to failures quite easily. While there is some merit for large organisations to pursue a diversification strategy, most smaller businesses find it difficult to sustain their investment.