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| Growth planning
is an enterprise wide discovery process that identifies viable growth alternatives
and selects the path that is most suitable to the company. The process begins
with market understanding, includes identification and evaluation of multiple
growth alternatives, carefully assesses each alternative against selected
criteria, and concludes with action plans for the implementation of the
chosen growth alternative.
All business disciplines are important as the resulting plans must drive all activities and behaviors of the organization. The Enterprise Model (shown right) shows how the various components of a business interact for success. It is imperative that in growth planning each of these areas be considered so that the strategy for growth becomes the reality of growth. The actual process used to complete the plan varies for each company depending on their needs. Growth is generated in a number of different ways. It can come from new businesses, new products, new processes, new customers, and even new marketing. Each of these areas will be examined for opportunities that are a good fit with the industry, the market and the company. |
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