Business is always changing, and unless you find a way to keep up with the trends, you won’t last long. New technology and ideas will simply make your business redundant if you aren’t careful. The marketplace is full of case studies of companies that refused to change and grow with the times, and as a result, collapsed. One of the most common examples of such a company is Kodak. Kodak failed to implement digital camera technology, and lost the market to smaller players. Ultimately, the once giant corporation filed for bankruptcy, leading to its demise. While one may wonder how the ground can shift under a business without notice, it is important to note that, adopting a growth strategy that is driven by changes in the business environment is not easy. It takes strategic management skills to do it. The good thing is that, once you master it, a growth strategy can take your business to the next level. For context, here is how a growth strategy can impact your business.
