Business strategies that may be more advantageous for firms participating in rapidly growing industries and markets . At this stage, growth industries that emphasize brand recognition, product differentiation, and the financial resources to support both heavy marketing expenses and the effect of price competition on cash flow can be key strengths.
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- Range of variation
The acceptable parameters of variance between actual performance and a standard, is called range of variation.
- Social learning theory
A theory of learning that says people can learn through observation and direct experience, is called social learning theory.
- Proactive personality
Proactive personality which describes people who identify opportunities, show initiative and persevere until meaningful change
- Strategic positioning
The way a business is designed and positioned to serve target markets.
- Milestone reviews
The milestone reviews that then tale place usually involve a full-scale reassessment of the strategy and of the advisability of continuing or refocusing the firm’s direction.
- Market Development
Market development refers to identifying and developing new markets for its current products.
- Market Focus
Small companies, at least the better ones, usually thrive because they serve narrow market niches. This is usually called market focus, the extent to which a business concentrates on a narrowly defined market.