Overview of Organization Growth

Organization growth is an essential aspect of business development that companies strive for. The growth of an organization entails building and managing a very different sort of business. Companies that address their organizational weaknesses as they implement growth strategies give themselves an advantage. There are five observable growth stages: birth, growth, maturity, decline, and revival. Each phase begins with a period of evolution, with steady growth and prolonged growth that emerges as organizations age and grow. Expansion means utilizing existing strengths, brand, and knowledge to either expand into new markets or offer new lines of services or products. Growth is crucial to the long-term survival of a business, and it helps to acquire assets, attract new talent, fund investments, and drive business performance and profit. New product development and outside financing are primary drivers of organizational growth. There are different types of organization growth, and measuring it requires efforts to trace changes in the organizational structure and managerial processes as the business proceeds through the growth stages.