International Executive Consulting

What is the development strategy? A growth strategy is an action plan that allows you to achieve a higher level of market share than you currently have. Contrary to popular belief, growth strategies do not necessarily focus on short-term earnings; Growth strategies can also be long term. As an action plan, your development strategy should include the following components: • Goal: What do you want to achieve? • People: How is each department affected by your goal? • Product: Is your product positioned to help you achieving your goal? • Strategy: How will you work towards your goal? Types of development strategies: You know you need a growth strategy, so... what should it be? There are four classic types of growth and expansion strategies that companies may use one or more of the following. • Product Development Strategy: To increase your market share by developing new products to serve that market. These new products should either solve a new problem or add to an existing p