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Organizational Growth
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Organizational Growth
Growth and expansion is the primary goal of any corporation regardless of its size. Any firm strives to grow every year so that they can accommodate their expenditures over time. With the passage of time, the world is growing and the global market is expanding. In this race, the competition has also increased by also raising the salaries and costs of employment for the companies. In order to compete in the market, the corporates need continuous growth. However, the concept of organizational growth is different for different companies. Few firms measure their growth in terms of their revenue whereas others can take it in terms of a number of workforce, physical extension and increased shares in the market (Delmar, 2006).
Moreover, different organizations use different tactics to expand the growth of their organization. However, there are some strategies that are considered as common methods to work on organizational growth. One of the major strategies is Joint Venture. It can be a helpful method for small businesses to protect the resources and cope with instant changes in market competition. In addition, some of the companies approach new markets to secure their growth. It will increase the demand for a company's product or service. Likewise, the other strategies can be like creating a new product, financing outside and incubation (Akaso, 2011).
In order to compete in the global market, a corporate has to expand its organization. If a corporate decides to remain the same, it does not mean that the value of its product and the demand for the product will remain the same. The market and technology they rely on, do not remain the same for years. The global market is changing rapidly and all bigger corporations are in a race. In that case, natural growth can be slower and not efficient. Therefore, in order to compete in the market, companies need to enhance their organizational growth by using different strategies.
References
Akaso, A. A. (2011). Organizational growth Strategies: The Competitive edge in the New Economy. International Journal of Economic Development Research and Investment, 2(2), 142-146.
Delmar, F. (2006). Measuring growth: methodological considerations and empirical results. Entrepreneurship and the Growth of Firms, 1(1), 62-84.
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