There are many pieces of advice about how to get ahead in the business world, but one of the most famous is ‘grow or die’. Having first been coined in the mould-breaking book written by George Land in 1973, it’s become something of a maxim for corporations everywhere. By standing still, your market competitors will see ways to innovate. They’ll catch your business up and steal your share of the market.
Naturally, there are a number of ways that a business can grow. For example, acquiring or merging with competitors or even complementary businesses make it possible to grow immediately – however, the issue then becomes how to mix together two previously separate entities under the same brand or group. What’s more, it’s hard to prescribe a particular strategy or approach to mergers and acquisitions, as the possibilities vary from sector to sector.
The alternative route, which is available for all businesses, is to aim for organic growth through innovations in products and services, wise investment decisions and a focus on efficiency. This will gradually increase the size and profitability of your business. To achieve this there are certain principles or activities that will create the ideal environment. Let’s look at what these are – and take stock of some of the firms that are doing it best.Read More about 4 Ways to Take Your Business to the Next Level