Planning for Growth Essay

2593 WordsMar 3, 201511 Pages
Planning For Growth A Review of the Literature George Lyles University of Maryland University College Introduction For five years Kelly’s Sandwich Stop business has been booming. Whether driven top-down or bottom-up, Kelly’s growth strategy has not been difficult and contentious due to well aligned strategic goals, available market information as well as sufficient resources and time. The issue here is not more of an operational issue than a strategic one that would bother Kelly, if this is true, what steps should Kelly take to organize and prioritize her business growth strategy? This question can receive as many responses as the number of academics and practitioners one would ask. There is a group of scholars like Robin Speculand (the founder and CEO of Bridges Business Consultancy International, a global pioneer in the field of growth strategy and implementation) who belongs to the school of thought that believe that the growth strategy challenge is execution (Robin, 2005). There are many growth strategies that have been adopted by different companies which have delivered varying results. Everyone is aware of the ‘new coke’ – marketing blunder. April 23, 1985, is unforgettable day in marketing infamy that will never be forgotten (Staff, 2012). What happened in this case was that the strategy that would have seen tremendous growth was approved but it didn’t deliver the expected results and the management kept asking “is the company pressing for execution when what it needs is a growth strategy?” Eventually they realized the answer was a resounding yes but the damage had been done. This action by the Coca-Cola Company has gone down in history as one of the top ten bad beverage ideas of our time (Staff, 2012). Here, it is all about Kelly’s Sandwich Stop. This literature review will examine the approach to be used by Kelly in planning growth for her sandwich

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