GrowthStrategies

To develop a robust business strategy, organizations all must conduct strategy development that starts with a agreed upon set of beliefs around its current situation and existing strategic barriers to growth blue ocean strategy. The next steps include deciding what the future state vision of the organization is and then going into the details of strategically planning how to achieve that state. Proper strategy development involves more than a focus on maximizing profitability. Business strategy is about value innovation, strategy is about selectivity, and growth strategy is about business mobility. In order to understand your strategic challenges, you must begin with a comprehensive current state understanding of your situation.

After picking the the primary blue ocean strategy, the next step is to determine the appropriate price point growth strategy. Pricing data may come from a variety of sources. With the gathered pricing data, the next step is to make sense of the collected data. To better visualize your pricing data, plot your price point, expected revenue, and expected profit against market share against a price curve. It is important to tabulate and be logical with any pricing assumptions. Pricing a product involves a three phase methodology, starting with gathering pricing and related data points. Map out your blue ocean strategy data to show the relationships between price point, market share, and sales.

As hinted to earlier, when we look at the market, both supply and demand analysis need to be conducted, which includes looking into all the following areas  growth strategies. Create a visualization of the market force structure. Spot where the trends are, as they relate to environmental trends, supply side trends, and demand trends.

We can say growth strategies is a creative process growth strategy. In the initial stages of the growth strategies process, the organization must generate insights, involving making sense of vague facts, looking beyond the obvious and generating unconventional conclusions. In coming up with a strategic response, the business often must solve new problems and connect unconnected dots. As management evaluates alternative strategic options, we must adapt our conventional perspectives by coming up with new ideas. If a simple spreadsheet would solve our problems in growth strategies, then there would not be many opportunities for differentiating and winning in the competitive market place.

Reference: http://learnppt.com/powerpoint/15_Growth-Strategy-Toolkit.php