- Describe your growth objectives for this organization.
- Provide an explanation of the different types of growth strategies.
- Determine which type of growth strategy you would utilize for this organization, and explain why.
- Explain how your growth strategy will help this organization fulfill its growth objectives.
The research conducted should be based upon the company and its utilization of strategic management.
Nike's growth objectives include achieving sustainable, long-term growth across its global portfolio of brands and businesses. A significant part of the objective is to increase the revenue target based on growth expectations across its portfolio. To fulfill the growth objective, Nike needs to work on providing innovative product packages and quality service to increase sales and attract more customers.
The different types of growth strategies are:
Merger: Merger is combination of two companies to create a single new company. There are different types of mergers ("Retail strategy", n.d):
- Horizontal merger: When merging companies are of the same industry and produce similar products
- Vertical merger: When two companies are into production of same goods but are at different levels
- Concentric merger: When two merging companies are related to the same customer groups or functions
- Conglomerate merger: When two merging companies ...
The solution discusses growth strategies for Nike, Inc.