Enterprise Growth Strategy

Businesses have to grow to survive and compete in domestic and/or international markets. Even during economic downturns, when business leaders have to think more about sustainability, this doesn't change and there is still a need to plan for future growth. In this comprehensive and practical book the author presents the total process from vision to full implementation of a growth strategy. The author is an engineer who entered the academic world following a long career in manufacturing business and has since taught almost every aspect of business and management. The 'growth strategy' concept he has developed is comprehensive and manifestly practical. Dr. Kumar describes mechanisms by which businesses can gain market share; develop, modify, or upgrade products; acquire new or expand existing businesses; transform resources to increase revenue and profitability; reduce cycle time; and empower business associates. Quality concepts - market growth, financial and core competency - are outlined and a variety of growth strategy tools presented. These acknowledge the fundamentals of the Baldrige National Quality Program. The relationship between continuous improvement metrics and business growth metrics is explained and their relevance to financial performance examined. Examples and case studies are presented to illustrate how different business areas such as Sales and Marketing; Product Development; Operations; Support Services; and the Finance function contribute. Leadership responsibilities, employee participation in the execution of growth strategy, culture and change issues are also discussed. Business leaders, managers and consultants, and those with an academic or teaching interest, as well as higher level students on business-related courses will find enormous value in this book. It is unusual, if not unique, in presenting the total process from vision to mission, to development of a growth strategy, implementation of initiatives, use of tools, and measurement of both operational and financial outcomes.