It allows businesses to allocate their limited resources toward a centered effort to adapt to changes in the industry driven by digital disruption and differentiate from competitors.
The strategies and tactics included in a growth plan focus on the key driver of revenue generation - the customer.
Businesses in situations like these will develop a growth plan to prioritize resources and take corrective action to stay on track.
[3] When starting to develop a growth plan, 3 key questions are considered:[citation needed] To answer these questions, businesses outline the following 9 step blueprint:[citation needed] When implementing a growth plan, management will investigate whether it is aligned with the current organizational structure.
Growth planning aims to be agile and adapt to changing market conditions that businesses are facing, particularly through technology and digital media.