Jane Martin
@Jane.Martin · Updated 27 Apr. 2022

A growth strategy is a plan executed to overcome all the current and future challenges to achieve goals for the expansion of the organization. Some of the examples of growth strategy goals include the increase in market share and revenue, acquiring assets, and improving the organization’s products or services.

The types of growth strategies are:

• Product development 

• Diversification 

• Market expansion

From the perspective of growth, the growth strategy can be classified into the following types:

• Linear growth

• Exponential growth

• Logarithmic growth

• Hyperbolic growth

The growth strategy framework helps in finding the correct route for achieving goals and acquiring success at a rapid rate. They keep both leaders and employees focused and aligned and guide them in taking decisions from a long-term perspective.

Lily Campbell
@Lily.Campbell · Updated 27 Apr. 2022

The various characteristics of growth strategy are as follows:

• The adaptability to change and learn in growth strategies is one of the major characteristics.
• The vision in growth strategies helps in aligning teams.
• A growth strategy amplifies various person's points of view in one strategy.
• A growth strategy increases the passion for doing work and performing better.
• A growth strategy creates an interest among all levels of an organization so that they achieve their respective goals.