Corporate Growth Strategies. This is something many entrepreneurs and professionals seek every day. And, in fact, there are several strategies to achieve this. That’s exactly why we’ll show you here how to find the right strategy for your business structure. Everything is very practical, and only a few companies and people can handle this subject adequately! Would you like to receive tips and information to start your own business? To try to make this subject very clear, we will address the following points:

Corporate Growth Strategies

1. What is a Company’s Growth Strategy?

Basically, growth strategies consist of methods and processes used to drive progress, development, and the growth of a company.

In this way, a clear growth strategy defines the company’s objectives and its positioning in the market. Therefore, one of the main purposes of a growth strategy is to define effective actions based on the company’s current scenario and the state in which it wants to be in a certain period of time.

Everything in a planned and strategic way. This offers a great opportunity for growth. And also to implement improvements throughout the management. A growth strategy includes guidance in times of crisis, challenges, and difficulties. And find and take advantage of good opportunities. It also includes a detailed action plan with goals, deadlines, responsibilities, and other important points that you can consult when needed.

In other words, a company’s growth strategy can be defined as improving the competitive position of a company, product, or service. And also consolidate the position that the company has already conquered.

2. How to Define a Growth Strategy

To grow in a solid, confident, and coherent way, you must first identify exactly where the company is at the moment.

In addition to defining where you want to go or what you want to achieve. And to do this work, there is a tool that helps a lot: the ANSOFF Matrix. In practical terms, it is a resource that companies use to plan and implement strategic growth measures.

It makes companies study their context to improve their practices and consequently grow. All this through an analysis between the products and the market already existing or started recently. In other words, the Ansoff Matrix helps a lot to generate ideas for the company to take advantage of the opportunities, stand out in the market, and tread realistic paths to achieve constant growth.

In addition, it identifies opportunities and checks risks by evaluating 4 types of strategies: market penetration, product development, market development, and diversification. Essentially, Ansoff consists of two axes: markets and products, resulting in a very simple design, like this image you are seeing now.

And within each axis we have two categories: New and Existing. When we cross these axes and categories, we arrive at four types of strategies.

• Market penetration: The goal is to increase sales of existing products to an old market.

• Product development: The goal is to introduce new products or products in development into an existing market;

• Market development: focuses on the entry of existing products into a new market;

• Diversification: introduction of new products with entry into a new market

Market. Undoubtedly, using the Ansoff Matrix will help you understand which area or moment is best to develop a good growth strategy. So if you want to understand how the Ansoff Matrix works with very practical examples, watch our video that shows exactly this subject.

For this, just click on this button above or on the link in the description. In fact, working with this tool is essential to be able to develop a good growth strategy for any type of business.

3. Examples of Types of Strategy

Working with the Ansoff Matrix (or even another tool of your preference), it will be possible to identify opportunities for expansion and growth of the company in the market.