Business growth is the goal of most organisations to ensure profitability and sustainability in a competitive market. This online micro-credential will outline the strategies available to business including market penetration, market growth, product growth, investment and diversification. In-depth exploration of industry examples will illustrate how each strategy impacts the growth and sustainability of an organisation. A description of market penetration strategy will demonstrate how to grow market share, via the sale of more of existing products and services to the same market. Market expansion examples will demonstrate how a marketplace can grow and a company can be involved in selling more goods within that market. Product expansion will be examined through creating new products or services and selling them to their existing market- offering new versions, variations to products and new services. Product expansion is explained through examples of companies staying in the same market. The concept of selling new products to new markets is one of the riskiest strategies, and to do so, companies often need to invest significantly into these markets and ensure that their value proposition and products will be successful. This concept is outlined through case study examples. As both new product and new market are untested, the result can lead to failures quite easily. While there is some merit for large organisations to pursue a diversification strategy, most smaller businesses find it difficult to sustain their investment. This micro-credential is designed to provide you as a business leader with an informed perspective on these strategies to apply in your own organisations.

This online micro-credential provides a non-creditable micro-credential and digital badge which can be shared to your social networks and displayed in your professional portfolio.

Career Opportunities

Undertaking this micro-credential enables students to meet their Continuing Professional Development obligations and industry update requirements in their profession. Upon successful completion of the micro-credential, students will be awarded Continuing Professional Development (CPD) hours, a non-creditable micro-credential (Digital Badge) and a Certificate of Completion.

Course Learning Outcomes

1. Identify the strategies in business growth to ensure profitability and sustainability in a competitive market
2. Outline what is meant by a diversification strategy and ow this applies to organisations
3. Reflect on your role as a business leader with an informed perspective on these strategies to apply in your own organisations.

Assessment:

Online Quiz

Award

Digital Badge via Credly

Students can also download a Certificate of Completion, share to social media or add to a professional portfolio.