Growth strategy (4 ways) (corporate strategy),”Organization expands the number of markets served or products offered
either through its current business(es) or through new business(es). Ways to grow:• Concentration. Growing by focusing on primary line of business and increasing the number of products offered or markets served in this primary business.• Vertical integration. Growing by gaining control of the combination in one firm of two or more stages of production- Backward vertical integration. Organization gains control of inputs by becoming its own supplier.- Forward vertical integration. Organization gains control of outputs by becoming its own distributor.• Horizontal integration. Growing by combining with competitors.• Diversification. Growing by moving into a different industryRelated diversification. Different but related industries. ‘Strategic fit’.Unrelated diversification. Different and unrelated industries. ‘no strategic fit’.”