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Growth Strategy
A company�s plan to increase its business by expanding its market, product lines, or customer base.
Implications
(Same as Growth Strategies above) The overall plan designed to achieve long-term business growth through various methods such as market penetration, product development, diversification, or acquisition.
Example
Example: A pharmaceutical company�s growth strategy includes developing new drugs, expanding into emerging markets, and acquiring smaller biotech firms to enhance its product portfolio.
Related Terms
Same as above.
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