4/29/16 Growth Strategies
At a recent meeting of The Presidents Forum, Joan Knorr, President of MK Services, talked about growth strategies. Knorr outlined strategies designed for existing and new markets and existing and new products/services. A principal element is building organizational capabilities, that is, do we have the right people in place to achieve desired growth. A second measure is the overall assessment; do we have the right product at the right price at the right time.
Knorr also cautioned us to look at threats while examining growth opportunities. These threats could be the bargaining power of suppliers or customers, the threats of new entrants or the development of substitute products. Joan Knorr’s presentation was short and snappy and to the point and left us with much to think about in growing our business.
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