Businesses seek to grow and expand their operations to increase revenue, market share, and profitability. Accomplishing this objective requires a multifaceted approach involving various strategies and tactics, commonly referred to as “business growth strategies.”
Historically, businesses have employed a diverse range of approaches to achieve growth. In the early stages of capitalism, businesses focused primarily on increasing production capacity and efficiency to meet growing consumer demand. As markets became more competitive, businesses shifted their attention to product diversification, innovation, and marketing to differentiate themselves from competitors and capture a larger market share.