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Tag: business growth

Directions in business strategy to maximize business growth

Directions in business strategy to maximize business growth

Business
Business growth rarely happens by accident or by osmosis. A growing business is usually the consequence of a business strategy successfully deployed in order to achieve that specific outcome. The highest rates of business growth can be achieved by combining four separate strategic directions into a well designed, consolidated, and highly focused effort to: acquire more new customers/clients, sell more products/services to the existing customer/client base, improve profit margins by raising prices and/or reducing the costs of supplying the products/services, and increase the existing retention rates of current customers/clients. Acquiring More New Customers/Clients The most commonly used strategy to promote business growth is to adopt a business strategy directed ...
5 Approaches How Technology Helped Businesses to Grow

5 Approaches How Technology Helped Businesses to Grow

Technology
Whether you focus on the domestic or international market, competition is extremely severe everywhere, and being a business owner means that you are always in quest of new opportunities for productivity increase, revenue growth, cost reduction, and competitiveness improvement. That is why it is essential to keep up with modern technologies to not miss out on tools that can significantly optimize business processes and boost business development. Let’s find out the role of technology in business together and why is technology important in business. Here are five ways of how technology helps business growth. Optimization of business processes “Nowadays, it is important to optimize business processes, eliminating manual tasks, and automating workflows. Fortunate...