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147 Growth Strategy Examples & Explanation

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✍️ Growth Strategy Essay Examples for College

Creating an effective business growth strategy is one of the most crucial yet challenging issues in developing a company. In this guide, you will find business growth strategy examples from Samsung, McDonald’s, Taco Bell, and Tata Motors.

These examples will help you understand how it all works and how to produce a successful growth strategy.

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A business growth strategy is a plan that provides profit increase, product or service development, and attracts customers for your business. In other words, it’s a pathway toward corporate expansion .

Growth strategies are necessary for businesses to:

Propel a company to complete activities that increase its market share and overall relevance in the industry.
Focus leaders and employees on achieving a common long-term goal.

Business growth can be carried out through different techniques and methods. We will talk about them below.

How to Develop a Business Growth Strategy?

These are the six significant steps:

Define what makes the company different from the competitors.
Analyze the target audience to understand the company’s value in their eyes.
Analyze the current income level.
Study competitors and their market situation.
Choose an area of growth (sales, employees, online stores, etc.).
Set a detailed list of actions to help increase the desired areas.

What Makes a Business Growth Strategy Effective?

Identity . One of the most important goals is understanding the brand identity, strengths & weaknesses, differentiation, and positioning. The identity is the uniqueness of the business expressed in a simple form for the client.
Clients desires . Another factor that propels the success of a business growth strategy is understanding customers’ wants and pain points. This allows the company to perform better than its competitors.
Measurability . A good growth strategy has specific targets that the company plans to achieve. Setting a particular outcome will help develop the appropriate activities and adjust the plan if needed.

Business growth strategies come in different forms, and these include:

* Note: It is always possible to combine two or more business growth strategies, depending on the goals and available resources.

To better understand the importance and efficacy of a business growth strategy, here are four noteworthy examples:

Lyft and Taco Bell Taco Bell and Lyft found a great way to share audiences. Lyft users could request a mid-trip stop at a local Taco Bell with a quick command in the Lyft app. Since both companies had a substantial customer base, the collaboration led to free publicity for Lyft and Taco Bell.
McDonald’s McDonald’s primary business growth strategy consists of market penetration. The company works on reaching more customers in different markets. For example, McDonald’s uses franchising, joint ventures, or corporate ownership to open new restaurants in North America and Europe, thereby breaking into the market and achieving its goal of global expansion.
Tata Motors Tata Motors develops innovative and impressive products to maintain and grow its position as the largest automobile company in India . This strategy is employed by other establishments in the Tata group, helping the company pioneer several industries like steel, airplanes, and power.
Samsung Samsung employs four growth strategies: market penetration, market development, and product expansion. Especially last, the tech giant mainly targets the same old customers but with a new and innovative product.

Other examples of companies with great growth strategies are:

Creating a successful business growth strategy requires attention to detail and an extensive understanding of the topic. To broaden your knowledge, check out more examples of marketing strategy essays below the web page

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✍️ Growth sources Strategy Essay Examples for College

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Stages of Business Growth

Introduction, decline // revival.

Every company, regardless of its size and overall performance, experiences the phase of startup, growth, maturity, and either death or revival. Each stage makes an organization face unique challenges. For the owners, it is essential to be aware at which stage the organization is because this would help to develop an appropriate growth strategy. In the current paper, I will describe each of the mentioned stages and provide examples to illustrate them.

According to the U.S. Bureau of Labor Statistics (2019), about 80 percent of startups are doomed to fail during the first years of being open. Therefore, this stage is characterized by a high rate of failure. The failure mainly occurs due to the lack of finance, problems with team management, technological issues, and the lack of experience of doing business. At this stage, it might be recommended to focus on the attraction of clients and developing unique features that would help a company to take a strong position in the market.

Now, I would like to give you some examples of companies that survived this first stage and became immensely prosperous. Probably, the most well-known example of success is AirBnB – a service for renting housings all around the world. The annual profit of Airbnb is about $10 billion. The commonly used social media, such as WhatsApp, Snapchat, Twitter, Facebook, Instagram, and Linkedin are also examples of startups that managed to survive and turned into companies with multi-billion profits. The success did not come in the first years of establishment. However, these businesses illustrate that survival depends on being unique and working hard.

The second stage of an organization’s development is called growth. It is characterized by the maintenance of relationships with multi-year clients, constant reinvestment of money back into the company, substantial profits, and high competitiveness. The research conducted by Scott and Bruce (1987) reveals that despite the profitability, at the stage of growth, owners usually do not receive any significant personal income as money is reinvested into the company’s further development. The problems at this stage are connected with the fact that demand might exceed supply.

The stage of growth could be illustrated by the examples of Goggle, Tesla, and Amazon. Indeed, it is erroneous to think that these companies are at the stage of maturity. All of the mentioned companies keep on investing in expansion and the implementation of new technologies. Another fact that unites these companies is that all of them are tightly connected with the field of technologies and innovations. Since digital technologies are constantly developing, it might be suggested that these companies would remain growing even in the distant future.

At the stage of maturity, companies that fail to adjust to the ever-changing environment and innovations can notice the first signs of the coming decline. More precisely, the sales might decrease, employees might lose their motivation and resign. In addition to that, companies at the maturity stage are frequently criticized and accused of losing momentum. Due to these challenges, it might become more difficult for the company to compete with newcomers with a new vision and innovative ideas. The administration of an organization that experiences this phase is recommended to pay more attention to maintaining the corporate culture that would keep employees inspired. Additionally, the owner should not forget to control the recent trends and the business environment to prevent the company from becoming outdated.

Ford Focus was established more than a century ago, in 1903. Currently, the cars produced by this company have a reputation of being of high quality. Despite this, Ford Focus has already reached the peak level of market penetration. The demand for the cars produced by Ford is being threatened by cars manufactured by Tesla or other companies that manufacture electric cars. From one point of view, Ford constantly presents re-designed and better-equipped cars. This technique allows the firm to stay at the top of the market. From another point of view, the traditional cars filled up with petrol are gradually substituted by electric cars.

After the stage of maturity, any company has two possible scenarios. If it fails to adapt to the new realities, it will decline. If it adjusts successfully, it will experience revival. Kodak is an example of a company that failed to promptly modify itself and, therefore, experienced a decline even though it was a great business in the 1990-s. Netflix, on the contrary, tells a story of success. It was founded in 1997, and at those times, it was not an online service with movies and series. Netflix managed to shift from the company selling DVDs to a company that all of us are familiar with.

Scott, M., & Bruce, R. (1987). Five stages of growth in small business. Long-range planning , 20 (3), 45-52. Web.

U.S. Bureau of Labor Statistics (2019). Table 7. Survival of private-sector establishments by opening year . Web.

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