Growth Strategies are at the core of corporate strategy. They are a way of acquiring new routes for corporate growth and also a way for corporations to attain growth speeds faster than the industrial norm.
As concluded by research, there are 11 methods as to which growth strategies can be implemented. This includes taking market share from competitors, invasive strategies, new business models, diversification, mergers and acquisition etc. However, the actual method to be implemented must be chosen after taking a corporation's field of business, vision, resources and opportunity affinity into consideration.
Growth Strategies are a core component of KMG's services. We will use expertise and consulting experience gathered from across the globe to assist corporations in solving the bottleneck dilemma of corporate growth.
KMG will implement corporate growth strategies in the following steps:
- A corporation's development opportunities must be assessed from an external viewpoint. Industry movements must also be assessed in order to evaluate key factors to success. At the same time, corporate resources must be reviewed in order to find cross-border integration and assess opportunities and threats;
- Based on external reviews, a corporation must be able to systematically locate its key strengths and gaps based on external environment changes. Once the reason for the existence of these gaps are found, the extent to which these gaps can be filled will be analyzed;
- After external reviews and recognition of key strengths, scattered discussions and brainstorming will be carried out to discuss possible routes of growth. The potential growth and costs of each route will then be evaluated;
- A combination of the leading body's intentions for development, risk aversion and growth route income forecasts will be used to evaluate the feasibility of each route. Once a suitable route has been chosen, growth path combinations will be formulated based on corporate resources, time and space;
- Once the growth combination has been formulated, KMG will assist clients in creating organizational guarantees, process assurance and risk aversion guarantees in order to ensure the implementation of the growth strategy.