Growth platforms

[2] There are three stages in implementing a growth planning process which are based on three basic questions: Strategic analysis: referred to the environment (which could either be internal, external and marketing) where the business operated.

[6] New growth platforms help companies grow as they created families of products, services, and businesses and extend their capabilities into multiple new domains.

[5] Small scaled businesses can only have a NGP when provided through a partnership or government funding, usually these exist in the agricultural sector and improve the knowledge and infrastructure ensuring better food security.

[7] Rediscovering the technology and the talent present in an organization a company or exploring its external networks, a business is able to find capabilities needed to create a new growth platform.

A successful NGP requires "a well tried process, high quality information and external insights – often from well outside the company’s own market space".

Consequently, the main advice given to these companies is to be willing to take more risks and do the same "approaches used in the venture capital industry and build a pipeline of new businesses".

The low success rate of finding a new growth platform can also be explained by the shortage of opportunities theory, which suggests a new way of resolving the problem.