The Importance of Business Growth Strategies

1 Introduction Growth strategy is an organization that plans for achieving goals and objectives for expanding revenue and business scale. However, according to (Bridge, O'Neill and Cromie 2003) she defined the growth strategy as follows. Line, acquisitions of other businesses "Growth strategy has important meaning to the company. Because companies can proceed in a formal direction.

A good business strategy explores business opportunities beyond the traditional business environment (Cooper, 2000). Indeed, the growth strategy insists that expansion of the organization to achieve competitive advantage is important. For example, a strategic alliance is a corporate strategy that takes place between two or more organizations to achieve specific goals, or to meet basic business needs, while maintaining dependencies among affiliates. Strategic alliances include resources including products, distribution channels, and expertise

At the business level, one of the proposed strategic solutions is under external growth strategy - strategic alliance. This strategic alliance may take the form of outsourcing work to other companies in the country where you do business, in other words, subcontracting. However, these tasks can be performed at lower operational levels, such as basic machine management and product delivery. Decision makers and higher-level managers can implement more in-house because they can receive more training and achieve the strategic goals of the company.

Strategic alliances can be viewed as one of the fastest growing trends in today's business, the alliance has spread to almost all industries and is an important driving force for super growth. By definition, strategic alliances are a kind of partnership involving sharing resources for the benefit of all strategic partners. "Reciprocity" is the key (Beavers 2001). The business consideration is whether the two alliance partners need one another. The size and scope of strategic alliances ranges from informal business relationships based on simple contracts to joint venture contracts, sometimes companies until they manage alliances. However, strategic alliances may be difficult. Partnerships promote mutual benefits, but alliances exist only if both parties are beneficial. Studies have shown that most of the strategic alliances have failed (Forbes 2002; Lorange and Roos 1991; Day 1995).