What are three options used by executives to drive firm growth? (check all that apply.)

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18-08-2022
Biology

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What are three options used by executives to drive firm growth? (check all that apply.)

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Tutorconsortium367 Tutorconsortium367 · Answer 1 · 2022-08-24T15:00:19-04:00

Executives have 3 options for accelerating company growth: alliances, acquisitions, and organic growth.

Why is organic growth crucial?

A plan for organic growth aims to encourage internal growth to the fullest. A business can boost sales internally in an organization in a variety of ways. These tactics often take the shape of resource reallocation, optimization, and new product introductions.

The goal of optimizing a firm is to keep making improvements to its operations in order to cut expenses and determine the right pricing for its goods and services.

Allocating money and other resources to the development of the best-performing goods is known as resource reallocation.

By releasing new products and services that will increase sales and overall growth, new product offerings aim to expand a company.

Instead of losing control of their business through a merger or acquisition, business owners can keep control through organic growth. Organic development, on the other hand, requires more time because it takes longer to attract new clients and grow relationships with current ones.

Learn more about organic growth

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