ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Experiencing Expansion Expansion can be characterized by two quarters or more of rapid growth when a business’ product or services prove to have long term value and they could add additional resources to their business. By this phase, you are in a routine and know what to expect out of your business.

Detailed explanation-2: -It is a stage when companies look for additional means to generate extra profit. In other words, business growth is simply a function of a business life cycle, growth trends of an industry and entrepreneurs’ desire to create equity value. A growing business can expand in more than one way.

Detailed explanation-3: -Your growth plan is essentially your game plan to reaching your growth targets and is an important step in growing your business. A growth plan clearly states your objectives and the steps and activities you plan on implementing to achieve these objectives.

Detailed explanation-4: -A description of expansion opportunities. Financial goals broken down by quarter and year. A marketing plan of how you will achieve growth. A financial plan to determine what capital is accessible during growth. A breakdown of your company’s staffing needs and responsibilities. 21-Feb-2023